Top tips for landlords letting to students
If you quiz any number of portfolio landlords, a high percentage will say they started out letting property to students. The question for many parents with children starting university this year or next is whether to join the ranks of 
student landlords. If you decide to buy your first investment property with student tenants in mind, the following tips will help your property quickly attract interest.
Broadband is a deal breaker
Students want fast broadband over and above anything else. When buying an investment property, check the broadband speed yourself. The latest National Union of Students survey states that 82% of students need reliable access to the Internet and this is a ‘must have’ requirement when selecting a property. Landlords should anticipate broadband being a prerequisite to any student rental agreement in the not too distant future.
A place for everything and everything in its place
The majority of students have more belongings that ever before and they need sufficient storage, so make sure you have ample cupboards and wardrobes in your property. A lot of students will have suitcases and boxes they need to keep for future moves. Providing storage will also avoid piles of clutter and offer a safer and tidier environment in which to live. This should be important to all private landlords because it means less potential damage and fewer repair bills.
All Inclusive
For many students, starting at university or college is the first time they’ve been away from home. This often means the first time they’ve had to live within an often small and tight budget. Over 70% of students regard inclusive bills as either an essential or important factor when choosing a property. Bills can cause stress and create arguments in a shared house, which can mean landlords are left with unpaid bills at the end of tenancies. All inclusive bills are an easy solution to avoid these issues and are simple to set up and manage.
Keep the sitting room for sitting
Today’s students feel that having a large communal area is important when choosing a property. While landlords can be tempted to forgo the living space and make way for an extra bedroom, it’s worth noting that four person tenancies are the most popular way to live for UK students today. Therefore a four bedroom property with a large communal living area will ensure more potential tenants than a five bedroom house without a shared space for socialising.
Get Online
There is no point advertising in the regional newspaper when the chances are your future student tenants could be from the other side of the country. Work with a local Lettings agent to get your property on to the main student rental portals for maximum exposure. A local agent will also know the price of other student houses for rent in the area and be able to offer expert advice on how to price your property appropriately.
Marcus James is Lettings Manager at Pace, an independent Southend on Sea Letting Agent. He deals with every aspect of the property letting process, providing expert and candid advice together with tailor-made marketing plans for each property he lists for rental.
Marcus prides himself on ensuring our landlord clients get the best return in the right timeframe for their investments by conducting rental appraisals, letting viewings and oversees the running of the lettings department.
