17th February 2018
I get asked a lot of questions about renting to students. Over the years, many myths have surrounded student living and the properties they rent, but most of these simply aren’t true.
Student Myths
- Students don’t care about location
Whilst students may have limited budgets, this doesn’t mean they’ll live anywhere in pursuit of cheap rents. Ultimately, they’re looking for somewhere within a couple of miles of their University; so it’s crucial that you find a property to let that’s in the right area.
- Students don’t respect property
With students now demanding more, for example, properties with high quality furnishings, this myth is no longer the case. What this does mean is that landlords with student accommodation to rent will need to invest in quality furniture and fittings, with a modern interior. Don’t scrimp with cheap furnishings, as it’ll need to withstand wear and tear, and in the long run, you could end up forking more out for replacements.
- Students don’t mind living in grotty properties
Again, this is another total misconception – students today look for a comfortable property that they’ll enjoy living in. It’s worth knowing that whilst students may not always demand the best of furnishings and decor, their parents most certainly will, especially if they’re asked to be a guarantor for the rent! A scruffy, dirty student property will most definitely struggle finding quality student tenants.
- Students don’t pay much in rent
While it’s true to say that students would prefer to pay a low rent because of their limited budgets, it isn’t true to assume that all students are like this. There is a growing demand for quality accommodation which means that students are willing to pay realistic market rents to enjoy these properties. Additionally, when a house is recognised as an HMO, the reality that the property has undergone inspection to ensure it reaches a certain standard, will draw in students looking for good-quality housing; meaning higher rents can be charged.
- Student houses are too much trouble
Again, the clear majority of students are decent, hard-working people who have been undermined by the antics of a very small minority. So, while there are some badly behaved students, most students today have too much invested in their education to cause problems for their landlord or their neighbours. Additionally, most students sign up for a year long tenancy agreement, ensuring the consistent payment of rent – even when they’re not residing in the property during the summer months.
The student accommodation sector is a buoyant one, so get in touch and let us help you to tailor your property to the student market.
Richard Bond
Lettings Manager
