Mind When Renting Student Accommodation
Student accommodation is a market that offers landlords a good return on their investment, and the fact that students are typically a little less demanding than some other rental tenants means it can be a great option. Nonetheless, there are some key points to keep in mind when renting student accommodation, whether you are considering buying your own property to rent out or if you are looking for a house or flat to live in as a student.
Damp is one of the main things to watch out for, and damp will not only be unsightly but it can damage possessions and cause health issues. Be sure to ask your landlord or letting agent what the plans are for dealing with damp, and get this in writing.
You can also expect student furnishings to suffer more wear and tear than those of longer term occupants, so it is wise to choose items that are not only mid-range price but are durable too. The same can be said for flooring, with linoleum and vinyl being particularly popular choices.
Another factor to bear in mind is the location of the Lancashire student accommodation you are interested in. Will you be living in a lively area surrounded by other students and bustling nightlife, or are you looking for something more sedate and tucked away? Open discussions between prospective housemates and your landlord or letting agent will help you to select the right property in the best location.
Key Points to Keep in Mind When Renting Student Accommodation
If you are planning to rent your property to students, it is advisable to get your tenancy agreement written by a solicitor to ensure that all of the clauses are watertight and protect your interests. There are also regulations in place that put landlords under a duty to manage Lancashire student accommodation properly, including ensuring that all gas appliances are checked regularly, that there are fire and carbon monoxide detectors on each floor of the property and that all furnishings are deemed to be fire safety compliant.
It is important to note that if you are planning to rent your property to students, then the contract is likely to be for a fixed term. You may be able to terminate the contract early if there is a break clause included in the tenancy agreement, but this is extremely unlikely and you should seek legal advice before agreeing to this.
Student accommodation is more than just a place to sleep; it serves as a foundation for a student’s journey towards academic achievement. A well-designed living space can foster an environment conducive to learning, providing a comfortable and peaceful atmosphere. Furthermore, the proximity to educational institutions allows students to save time and energy, enabling them to engage more actively in their studies and extracurricular activities.
If you are a landlord looking to rent your property to students then a good marketing strategy is essential. Student portals and social media are a great way to advertise your property, and many universities have lists of approved landlords that you can be added to. A reputable letting agent can handle all of the marketing on your behalf, and will be able to add you to these lists quickly and easily. They will also be able to provide you with a range of tenant references that you can use to demonstrate your reliability. They will be able to check for credit problems, previous evictions and other factors that could impact your ability to rent to students.