Autumn is a busy time of year for students and all the thousands of landlords up and down the UK who rent out properties to them. If you’re thinking of letting out a property to students in the near future, then while it’s an exciting prospect, it’s a bit different to renting to a quiet young family!
Here is a quick rundown of the special considerations you should pay attention to when you welcome a new group of students – or welcome back some previous tenants for the new academic year.
You need to use the right agreement
Is it to be a single or a joint tenancy? With each type there’s different liabilities and responsibilities that your tenants will have, so make sure you use the appropriate one.
Check in your tenants fully
You should spend time over this process, preferably with all the tenants present. Show them the fire exits, how to use the boiler, give them your contact details and those of your agency if you use one. Get to know them a bit and let them know they can call you.
It’s an offence to smoke in the shared areas of rentals now. Make sure that your tenants know this and that it’s written into the tenancy agreement.
Make sure they’re not nuisance neighbours
While you don’t want to stereotype students, there’s always the possibility that an end-of-year or graduation party could get out of hand and disturb the neighbours. If there’s a nuisance clause in the contract, you have some leverage.
You’ll probably need to furnish the place
Most students want a fully-furnished property and you’ll need furniture and fittings that are durable, safe and clean. There will be wear and tear, though, it’s just the way it is…
Point out that the deposit’s there for a reason
They need to know that if you need to do any extra cleaning or repair any damage that the costs will be coming out of their deposits.