Letting Property To Students: Some Tips For Landlords
A big part of most landlords business is the student market. It is students who generally make up most of the rented properties in a University city or town as they are only usually in the location for the duration of their studies and will not wish to buy a property just for a few years. If you are a landlord and you are hoping to expand and start letting to students then there are some guidelines to follow.
Before you let your tenants move in to the flat you should have them fill out an inventory and condition form. This is basically just a form that the tenant fills in on the first day that they move into the property and it is used to detail any exiting damage or missing pieces of furniture (if it is a furnished flat). This can be invaluable to the landlord by the end of the tenancy agreement as you will be able to see what has been damaged or what is missing during the course of the let.
Students are known for having a large number of parties throughout the year so even taking photographs of the different rooms beforehand and having them signed both by yourself and the tenant can be a good way to avoid any disputes over damages. It is also good to have landlord contents insurance like the ones offered by Just Landlords. This will ensure that the furnishings that you have provided will be insured against their damage or unlawful removal and that the students’ property within the flat will also be covered as well against theft. This can be a deal breaker when it comes to attracting students to your business and it not only gives them peace of mind but it also protects you as well.
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