Letting a property to students can be difficult as it is a very competitive market. However, it can be an easy, hassle-free process. Understanding what student tenants look for when searching for their accommodation for university is an important factor.
Location is Key
Having a well-located property is vital for student lettings; students want to be central to local shops and bus stops, so they can find everything they need quickly. How to get to university quickly is always something students have on their mind when looking at properties for the new academic year.
Students like being near each other, and they will take into consideration how many rooms your properties have. First year students tend to choose Halls accommodation, but they usually look for second and third year accommodation with more than 4 rooms.
Undergraduate students might prefer accommodation closer to entertainment and clubs, while postgraduates might be happier in quieter accommodation locations, where they can focus on their studies.
Having sturdy furniture with nice, neutral colours in dark shades will ensure they last longer. You might inevitably have to fix something, but it never pays to buy cheap furniture. It will only break more often, and students will prefer properties with beautiful, good quality furniture.
This will increase your spending initially but it will prove to save money in the long run. While it’s true that many student tenants won’t be too preoccupied with appliances or furniture that aren’t new, these still need to withstand student life.
Prepare Information Packs
Universities prepare information packs for their students when they arrive to Halls and, as a landlord, you should compile all the information student tenants needs to know. This will ensure that student tenants know what to expect in terms of rules, like when rubbish needs to be picked up.
It also shows that as a landlord you care about your student tenants and want to make their stay in your properties as easy and as simple as possible. Information packs can also have in more detail what you expect from your student tenants in terms of responsibilities in maintaining the properties.
And if you’re a student looking for lettings, check out our article here.
As property management and lettings specialists, here at Belvoir Birmingham Central we always ensure that our landlords have up to date information on important legislations and statutory obligations. If you want to know more about how we can help you, you can contact us on 0121 212 0122 and our team will happily help you with any query you might have. You can also follow us on our Facebook and Twitter pages.