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All Inclusive Student Housing

2 Students Mistoria Estate Agents

With water, gas and electric bills increasing year on year, we prefer to offer “All Inclusive” bills in our student housing.

You may be more accustomed to hearing the phrase ‘all inclusive’ when it comes holidays.  The price you pay will include your flight, hotel, food, drink and activities.  Our all inclusive student housing work along the same principles, but instead of two weeks by the beach your monthly rental payment will include your accommodation, utility bills, broadband, rental of white goods such as your washing machine and dishwasher, fixtures and fittings and some electrical goods like a plasma TV.

The all inclusive rent option is ideal for a student housing.  It’s a straight forward and less complicated way of paying.  For most of our student tenants this is their first time away from home and the hassle and responsibility of paying and keeping up with bills can be somewhat overwhelming.  It also prevents any unnecessary falling out with fellow house mates when it comes to dividing the bills.

At Mistoria Estate Agents we believe our all inclusive rents are transparent and give you the peace of mind that there will be no hidden costs.

All inclusive rents are also appealing to landlords as they have the reassurance that there will be no outstanding bills at the end of a tenancy. It also helps retain good tenants, many are unlikely to move to a different property where they have to organise their own bill payments and keep track of how much they owe each month.

David Cox, senior policy officer at the National Landlords Association says,

“All-inclusive rents can be very appealing to tenants, so landlords who offer these can have the edge over those who don’t. Students prefer all-inclusive rents as these reduce the number of things to worry about when they move in to their first rental property.”

Please take a look at our property selection available to rent and if you would like more information, please call 0161 707 6106.

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Student House Viewings – What To Look For

Trying to find the right student house can be stressful.  So many viewings in such a short space of time can leave you unsure of what it is you’re actually looking for.  And so, here at Mistoria Estate Agents, we’ve devised a helpful list of things to bear in mind during student house viewings

  • Furniture – What comes with the house?  Most student accommodation will come equipped with the basics – beds, sofas, wardrobes etc.  But what about white goods?  Will you need to buy your own toaster and kettle?  What about a bookcase sturdy enough for all your textbooks?  And don’t forget the TV!
  • Location Location Location – Have an idea in mind for where you want to live to narrow down your property search.  Would you rather be closer to the university or further afield where it’s quieter?  Remember to consider transport costs – if you find a house that isn’t within walking distance, you will most likely have to buy an annual bus pass.  Ask yourself, does the area feel safe?  We recommend Googling the street to double check. 
  • Security – Every landlord is legally obligated to make sure their property is as safe as possible.  This includes both fire safety and security measures to prevent burglaries.  Student houses are notorious for being break-in targets, so it’s definitely worth making sure you choose a house that measures up in terms of security.  We’re talking locks on windows, multiple locks on the doors and outside lights.  If you find a house you love that doesn’t feel secure enough, you are well within your rights to demand an security upgrade from your landlord.  There’s nothing worse than coming home to find your laptop (and with it, all your coursework) missing!
  • Price Rent is obviously one of the first things students consider when choosing a house but what about other costs?  Does the rent include any bills?  What about internet costs? And don’t forget food!  Rent won’t be the only thing coming out of your account every month so remember to add up the total costs and figure out a hypothetical budget when considering whether or not you can afford a place.
  • Housemates One of the best things about a student house as opposed to halls is the communal aspect.  A good sized living room and kitchen is essential if you plan to spend a lot of time with your housemates or hold a lot of parties.  A garden may also come in handy for the summer.  However, remember that things don’t always go smoothly!  One bathroom between five may cause early-morning fights, and if it turns out you can’t stand your housemate’s taste in TV, you may want to avoid the living room, so make sure to choose a bedroom you don’t mind spending a lot of time in if necessary.
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Student Accommodation FAQs

So, you’re looking for your first student house and everything is a little bit overwhelming.  There’s so much to consider and loads of new jargon to wrap your head around.  What’s a deposit?  What’s a holding fee?  Do I need to pay them both?  And what’s this NLA I’ve been hearing so much about?  Don’t panic!  Sit back, relax, and check out Mistoria’s Student Accommodation FAQs…

  • What is a guarantor and why do I need one? 
  • A guarantor is a third party (usually a parent or legal guardian) who guarantees that your rent will be paid.  Your guarantor will need to sign a form to confirm that, should you fail to pay the rent, they will pay the landlord on your behalf.  Basically, they act as a safety net, since most students cannot be 100% trusted with their funds!
  • What is a deposit and will I get it back?
  • Your deposit is there to ensure that you take care of your property.  Most landlords will ask for approximately a month’s rent as a deposit, and given that the property is not damaged, you will get this money back at the end of your tenancy.  Bear this in mind during your stay and work together to keep the property in a reasonable condition – it’s a lot of money to lose for one person’s careless behaviour. Also remember that your landlord is obligated by law to place your deposit in a tenancy deposit protection (TDP) scheme. Always ask your landlord which scheme they’re using in order to make sure your money is safe.
  • What is a holding fee?
  • A holding fee guarantees that the property is yours if you want it – the landlord will stop holding viewings and it gives you some extra time between viewing the property and signing the contracts to get things in order.  However, holding fee policy differs from landlord to landlord.  Some do not accept a holding fee, while others will require one.  Some will take the holding fee amount out of your deposit, and others will consider it an additional payment.  Make sure you know where your prospective landlord stands on holding fees, especially if you’ve found a house you love.
  • Who pays the bills?
  • While some properties come with bills included, usually it is up to the students to pay.  Make sure each of you keep some money aside for bills every month, and work out a system to split the cost.  To keep your bills as low as possible, check out the efficiency rating of every house you view – the more efficient the property, the lower your bills will be.
  • What about internet or TV?
  • Again, this differs from property to property.  Remember that internet is essential for uni work, so if it’s not included, make arrangements ASAP to avoid any problems at the start of term.  Discuss with your flatmates whether or not you need a TV.  On the one hand it can encourage the group to be more sociable, but remember that a TV will require a TV license – another additional cost.
  • What’s the NLA?
  • When looking for student accommodation, you may have come across the phrase “NLA registered”, meaning that the landlord is registered with the National Landlords Assosiation and therefore more reputable.  If possible, it is always recommended that students choose an NLA registered landlord to ensure that they are protected.
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Student Accommodation Investment

If you have been following the UK property investment market over the past 12 month then you will know that there has been a huge growth in student accommodation investment opportunities.

Here are 5 salient reasons why a growing number of people are opting to make a student accommodation investment.

Links and support from Universities

As well as having a limited amount of accommodation, many university halls of residence are out-of-date and need modernisation. Due to budget constraints the universities are more than happy to work with private accommodation providers, as long as the accommodation is good enough quality and meets their desired criteria and standards.

Top Asset Class

UK Student accommodation has performed very well as an asset over the past few years delivering consistent high yields.

The CBRE reported that last year student housing strongly outperformed other property asset classes delivering total returns of 9.6pc for investors, compared with 4.4pc for all office properties and 2.2pc for all retail.

Savills 2012 spotlight on student housing also stated that,

“UK student accommodation performed well over the last 5 years, showing average annual total returns outperforming many commercial property asset classes.”

Student Accommodation Investments Are Relatively low risk

With great demand and high occupancy rates investing in right type of quality student housing, in a good location should be the strategy to follow. Jo Winchester, head of student advisory at CBRE explains,

“As an investment, student accommodation is relatively low risk and provides a secure income. Occupancy levels remain high, especially when compared to the vacancy rates in some mainstream sectors, and most university towns remain under-supplied.”

High yields

When managed by a professional management company fantastic occupancy levels of almost 100% can be achieved.

Knight Frank declared student property the best performing property investment in 2012, with rental income rising by 5 per cent per annum and returns averaging 11.5 per cent.

Strong exit strategy

Student accommodation investment properties are an asset that are growing in popularity with rising demand from property investors.

When good and consistent rents are achieved they becomes more valuable, and easy to to sell. When re-selling they can be of particular interest to other investors.

If you own a property that you would like www.mistoriaestateagents.co.uk/salford to manage please get in touch. Or if you are interested in investment properties visit www.mistoriagroup.com.

 

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Finding a place to call home in Media City Manchester

The development of Media City Manchester has made Salford and Manchester two of the most popular places to live in the UK.

Media City Manchester has been designed to provide a purpose-built home for creative and digital businesses. The first phase, spread over 36 acres, was completed in 2011 but there is the potential to use up to 200 acres of land over the next decade.

With a wealth of exciting employment options, restaurants, shops and entertainment outlets, Media City Manchester is a wonderful place to live, and an amazing hub for students and young professionals.

The idea to create Media City begun when the BBC signalled its intention to move out of London in 2004, and the Salford Quays site was chosen in 2006.

The BBC has relocated much of its broadcasting services; Children’s, BBC Radio 5 Live, BBC Research and BBC Sport. ITV Granada followed in March 2013, with the first phase of its move to Media City from their historical city centre site in Manchester.

Mistoria Estate Agents has a fantastic selection of properties right on Media City Manchester’s doorstep, and we are committed to helping you find a great place to live.

Renting with us is easy, check out what properties you would like to view through the search function on our home page. We’ll then take you on some viewings, and you simply pick the place you want to live! We’ll charge an administration fee of £100, payable when booking the property. Then before you move in we require a deposit for every tenany, which is equal to £200. It really is as straight forward as that!

For more information or help please call us on – 0800 500 3015 or send an email to – info@mistorialettings.com and we’ll do everything we can to assist you.

We are one of the leading lettings agencies in the UK.  Providing high quality accommodation for students, professionals, residential and commercial tenants, we operate in Salford, Manchester, Liverpool, Lancashire and across the entire North West region.  With a solid vision for future growth, we aim to be managing in excess of 1000 houses by 2015.

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Number of people looking for a house to rent reaches all time high

The UK’s rental market has gone from strength to strength in recent years as demand for a house to rent is ever increasing. More than 8.5 million people in England now rent, and that number is constantly growing. In turn the number of people who own their own property has reached its lowest point in many years and it seems we are now ‘Generation Rent’.

New figures from the Office for National Statistics show a record number of people now forced to rent as levels of home ownership have slumped to just 64 per cent, its lowest levels since the mid-1980s when Margaret Thatcher declared her ambition to see more people able to buy a house.

Experts put it down to first-time buyers struggling to get on the ladder as soaring prices have far outpaced incomes. The Office for National Statistics say high house prices, low wage growth and tighter rules imposed by lenders are to blame for the number of people living in and looking for a house to rent.

As a prospective tenant you must realise that renting holds many benefits

Renting allows you to choose where you like to live and lets you move freely. In most cases you can break a rental contract after 6 months, allowing you to move to a new location or type of house. Or if you are hoping to buy in the future it provides you with the chance to test out a new location before you commit to buying in the area.

In addition as a renter/ tenant you are not going to fall foul of any housing market related conditions. You will of course have to pay rent but you’re not tied into monthly mortgage repayments and therefore cannot fall into negative equity.

Another thing we find that our tenants enjoy, is not being responsible for the maintenance of the property, therefore as a renter there are no costs to pay for decoration or upkeep.

FOR MORE INFORMATION ON OUR HOUSES TO RENT CALL US ON 0161 707 6106. WE LOOK FORWARD TO HEARING FROM YOU.
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Why a house share is a great idea

Right now the number of people living in shared homes is increasing month on month, mainly because so many of us have been priced out of the market when it comes to buying a property, but there are both financial and personal reasons why people house share.

Why rent in a house share?

1) Moving Area

If your job or another reason is taking you to a new area, a house share can be a great short term solution before you get settled and find out where you want to live. Some people house share with this intention but it becomes long term accommodation. Also if you don’t know anyone in your new area a house share offers some instant friendships and companionship.

2) Leaving Home

Some people can’t wait to leave home and others are more nervous. With a house share you have the independence and responsibility of your own place, but also some house mates to have fun with.

3) Lonely

Some people love their own company, but for others it can be extremely lonely so choose to house share.

4) Cost

We’re all affected by the economy and House Shares are an extremely financially attractive living solution. At Mistoria Estate Agents we have house shares with fully inclusive rents. This means everything is included, right down to the linen on your beds. 

Living in a house share is usually much cheaper than renting your own place. You still have your own bedroom (which has a lock so plenty of privacy) but the bathroom, kitchen and living room are communal areas. Effectively by sharing you split the cost of these extra rooms. By sharing it’s often possible to live in a better property or in a better area than you could afford on your own.