6 tips for landlords letting to student tenants
Being a student landlord can be a very attractive proposition especially in an area with a high student population which has the potential for high demand and good rental yields.
There are thousands of student landlords around the UK and whether you’re one of the experienced ones or you’re just starting out, our tips highlight the most important aspects of successfully letting to students.
Read more: How to succeed as a student abroad
Whether you’re welcoming back previous tenants or introducing new ones to their new surroundings there’s still a few things you need to remember before they move in and start enjoying their new home:
- Choose the right agreement – Will you offer a single or joint tenancy? There will be different liabilities and responsibilities for your tenants depending on the type of agreement you choose;
- Check in your tenants – Make sure that you conduct a thorough and robust check-in report preferably with one or all of your tenants present;
- Smoking – It’s now an offence to smoke in the shared areas of rented property. Highlight this to your tenants in person and in writing in your tenancy agreement;
- Noisy neighbours – It could be a stigma but your tenants could enjoy a party and possibly at their house. A nuisance clause in the tenancy agreement could settle any dangers of a problem further down the line;
- Fully furnish the property – Usually students would desire a fully furnished property and it’s important for you to furnish your rental accordingly with strong and durable furnishing. Remember to expect fair, wear and tear though;
- Deposit deductions – Make sure you make your tenants aware in the tenancy agreement that any required cleaning or damage in communal areas (depending on what sort of agreement you have) gets sorted before they move out, or deductions will be taken from their deposit.
At CBX we believe that it’s important to provide quality cover for residential properties of all sizes across the UK, including houses, flats, HMOs and bedsits. Give us a call on 020 8587 1073 for a quick quote today!