Mistoria Estate Agents have compiled some top landlord advice as to why letting your property to students is the way forward…
HMOS: You can normally fit more students into your property than you would if it was a professional let. A three bedroom property can often accommodate 4 students meaning more rent for you, the landlord. It is possible to turn the lounge into a bedroom and make the kitchen the “social room”.
CHEAPER AREAS: Students are prepared to live in areas that are not considered desirable by professional tenants, so the capital values of properties are much lower.
MORE RELAXED ON INTERIORS: For undergraduate student tenants it is normally their first experience of life away from home, so the newness of the kitchen or bathroom suite is not always their priority when picking their accommodation. Having said that, landlords cannot afford to be complacent, standards are rising and mature and foreign students often demand professional levels of accommodation.
ADVANCES ON RENT: Due to student loans being delivered in large installments some students find it works better to pay their rent in large lump sums in advance. In some cases the parents will pay upfront for each semester.
CAPITAL: According to research, University towns have outperformed other towns in terms of house price growth.
Letting your property to students can be daunting but Mistoria Estate Agents can manage your property, from finding you tenants, looking after any maintenance and refurbishment issues to making sure your tenants look after your house.
We give Landlord Advice but more importantly manage EVERYTHING ensuring you have a regular income with no hassle whatsoever.