Student Lets

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  • Steve C
    replied
    We're in Bedfordshire, so a little way off from yourself. As for telling her about two blokes on the internet, I made her sit down and read your replies. Thanks again.

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  • Jonboy
    replied
    and just tell the wife you met a couple of blokes on the internet who said it was a good idea, that should sell her lol

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  • Jonboy
    replied
    where in the uk are you looking, just out of interest?

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  • Steve C
    replied
    Thanks to both Jonboy and MrShed for your comments which I have taken on board. I am pretty certain that I am now sold on the idea, it’s just a case of trying to convince she who must be obeyed, that spending £500,000 on part of somebody else’s up and running portfolio is a good idea.

    Leave a comment:


  • MrShed
    replied
    - Students have a rather unfair bad press. Yes they are noisy, and dirty, but they do not usually damage for the sake of damaging.
    - When decorating, get modern decor at a cheap price. Basically Ikea it, and the students will usually keep it pretty much up to scratch. If you are still worried about damages, take a higher than average damage deposit.
    - My suggestion for areas would be "decent" universities that aren't going to be charging top up fees. Then obviously look more in depth at the universities.

    The rest I totally agree with Jonboy. And yes, you can't go wrong area wise in Newcastle! Ideal place for student letting :P

    Leave a comment:


  • Jonboy
    replied
    which city are you looking at?

    i am an expert in newcastle (if you call 1,000 student lets an expert) and know a little about other cities but my advice would depend a little on where you are looking to buy.

    personally i think letting to students offers many advantages, including:

    full year lets with reduced void periods.

    getting parents to guarantor rent and having a number of liable shrarers reduces lost rent.

    better returns on properties.

    but their are a few cities that now don't look too good to me, places like manchester, liverpool and leeds have issues with an excessive number of halls rooms and letting is very heavily controlled by the universities.

    i think succesful letting to students involves a very good knowledge of what they want from a property and where they want to live, i see many people come to me with unsuitable properties, in the wrong areas with very strange ideas about what students want from a property. people says things to me like:

    "well they don't need a living room do they? so i can rent this room as a bedroom too" - wrong

    and

    "well they are going to trash it anyway so i'll just buy this crap furntiure from a charity shop/pull it out of a skip" - wrong

    in my experience students are quite particular about what they want and they don't live like the 'young ones' any more!

    in general i would say take a good look at what is around, which areas they like, speak to good agents who will give the best advice for local conditions.

    if you want to buy in newcastle i am more than happy to help.

    Leave a comment:


  • Steve C
    started a topic Student Lets

    Student Lets

    I have been letting properties for about 6 years and whilst I only have 2 properties at present I am not totally green about letting, having been through an eviction using bailiffs and the recovery of rent from a guarantor, not to mention some flooding. Whilst not being green, I would still never claim to be an expert.

    I had found that I was not able to get the returns I needed on one property and sold up. This has left me with a rather nice pot of cash for which I have been looking for investments. I have made a lot in the way of cash from equity in properties, but would now like to change strategies to receive a higher income.

    Four houses have become available that are at present student lets. The income looks good, but there is that niggle in the back of the mind about student lets and so I'm standing half way not knowing whether to take the plunge or not.

    With this in mind I would be grateful to anybody willing to share their experiences, good or bad, or for any advice they may care to offer.

    Thanks

Latest Activity

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  • Reply to Properties for sale AND Let?
    by theartfullodger
    If tenanted and then sold, the sale does not end the tenancy nor require tenant to leave.

    New owner becomes new landlord, even if outside with removals van and screaming kids. Normal eviction processes apply .
    08-04-2020, 07:47 AM
  • Properties for sale AND Let?
    by Questioningtenant
    HI! Apologies if this is a stupid question; I am rather ignorant in terms of a property being offered for sale and for let at the same time.

    I'm a tenant currently looking for a larger rental property and I've noticed a trend in my area in recent times to place a property both for sale...
    07-04-2020, 21:27 PM
  • Reply to Washing Machine/Rent arrears
    by boletus
    You have to look at yourself in the mirror every morning?
    Karma?


    Or on a practical level;

    The stress finishes off the landlord. The grandson then takes over the estate and is not such a good man. He is very upset at the tenant's low behaviour after the old man
    ...
    08-04-2020, 07:27 AM
  • Washing Machine/Rent arrears
    by Washingmachine44
    Hi Everyone,

    I'm a former tenant of a property and I'm looking for some advice. I rented a property in London for 7 years with my GF and moved out in February of this year. I still owe 2 months rent arrears and this is being paid of in agreed installments through the estate agent. ...
    07-04-2020, 17:54 PM
  • Reply to Washing Machine/Rent arrears
    by boletus
    I have low quality machines still going strong more than 20 years old. I've also replaced one that was 2 years and 2 months old (I remember looking up the just out of date warranty- bearings had gone)

    https://www.tenancydepositscheme.com...sing-items.pdf

    It is reasonable to...
    08-04-2020, 06:59 AM
  • Reply to Properties for sale AND Let?
    by BTL investor
    Only reason I can think of is that whilst the property is untenanted the owner puts it up for rent but also puts it up for sale at a high price just in case a buyer willing to pay the high price comes along.
    07-04-2020, 23:31 PM
  • Reply to Restrictions on rental agent
    by Mike_H
    Here in Aus, agents are allowed to do individual viewings, auctions are going ahead (albeit online) and you still see removal vans moving people in and out of places etc Sounds like we're a little less restricted than the UK at the moment.

    Hopefully we get over all this sooner rather than...
    07-04-2020, 23:28 PM
  • Restrictions on rental agent
    by Mike_H
    I'm currently living abroad so am not up on the restrictions currently in place in the UK.

    The tenant in my house (in the UK) is leaving at the end of the month. My rental agent has advertised the property and has had plenty of interest, but is telling me that there is nothing they can...
    07-04-2020, 21:28 PM
  • Reply to Restrictions on rental agent
    by Questioningtenant
    Some letting agents are offering 'virtual viewings' although in my area, these seem few and far between. I have also send a couple of properties switch to 'Let Agreed' in the past couple of days and many agents are processing everything digitally - I think it depends largely on the agent in terms of...
    07-04-2020, 22:17 PM
  • Reply to Restrictions on rental agent
    by jpkeates
    On a practical basis, I'd say they're right.

    It's possible to advertise a property, let it and for tenants to move in.
    But most of the people involved would be not following the government advice, possibly breaking the law and, generally, not being good citizens.

    Lucky...
    07-04-2020, 22:15 PM
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