Student Letting advice

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    Student Letting advice

    Hi,

    Does anyone have recommended sources of information around Student Letting?

    Thank you

    #2
    From the position of a landlord or a student?

    Comment


      #3
      As a Landlord, I am familiar with letting HMO however not as a student let and wondered what the distinct differences are and regular points of friction or precautions to take.

      Comment


        #4
        Thats a big question and not one I could do justice to in a forum response. There are, however, lots of differences. I suggest you read as many of the threads on this section as you can to get a feel for it. There are also plenty of short guides on the Internet.

        However, I would say that some key points to look out for are:
        - HMO regs
        - Council tax
        - joint tenancy vs room only
        - notice issues and potential overstaying
        - vulnerability and experience of the tenants
        - advertising
        - 10 month or 12 month lets & summer storage
        - holding deposit compliance
        - right to rent in relation to overseas students
        - bills included rents and the issue of overuse

        Comment


          #5
          It is also worth remembering that this is the first time away from home for most students and as such they can be very naive.

          They are more likely to be a group of friends living together than strangers sharing a house; they may have house parties with more students; they will probably move on after a year; they will probably all dry their laundry in communal rooms (causing condensation); they will probably not open windows much; they may use a lot of gas and electricity; they can be loud; they don't always know how to keep a house clean; they can keep strange hours; I found boys more destructive (unintentionally) than girls; they may not really understand either contract or their rights or responsibilities; they may not know how to change a light bulb or spot a leaking shower!

          In short, you need to be ready for extra expenses and I would keep a close eye on the property - I used to do maintenance in the Christmas and Easter holidays when the property was empty to keep it in order.

          A student let can be financially rewarding but it can also be a lot of hard work.

          Good luck

          Comment


            #6
            I disagree about boys being more destructive (intentionally or otherwise) than girls. In my experience it is impossible and thus unhelpful to generalise.

            What I have observed is that there is generally a direct correlation between parental income and the entitledness felt by the students in terms of how much other people should do for them in terms of cleaning, repairs, etc. Also, the richer the parent, the less able the offspring is to be able to clean a toilet or empty a dishwasher. And the more likely it is than their mattress will be stained at the end of the tenancy and need replacing.
            'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

            Comment


              #7
              mind the gap,

              You say it is unhelpful to generalise and .....then generalise!

              My experience is of one house over 6 years so not exhaustive, but it is my experience which is all I can offer.

              Comment


                #8
                I was being ironic, but less general than you, probably. 🙂
                'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                Comment


                  #9
                  Before anyone contemplates letting the property to students I would suggest that one checks with the current lender if they are presently happy for such a letting arrangement. Because of the current situation Paragon, TMW and Aldermore have changed criteria which excludes such Letting arrangements including property which is a licensed HMO. There are a number who do not have such restrictions but it is prudent to check.

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