How Landlords can benefit from letting to students

Landlords can benefit from student lettings in various ways, provided they understand the unique dynamics of the student housing market and effectively manage their properties. Here are some key benefits for landlords:
1. Steady Demand: There is typically a consistent demand for student housing, as students need accommodation while pursuing their studies. 
2. Reliable Rent Payments: Many students receive financial aid or parental support, which can make them reliable tenants when it comes to paying rent on time. Some may even pay rent in advance for the entire academic year.
3. Multiple Tenants in One Property: Student housing often involves multiple tenants sharing a property. This can result in higher total rent payments compared to single-tenant professional properties.
4. Minimal Tenant Turnover: Student leases often align with the academic calendar, reducing tenant turnover during the year. This can lower void-periods and maintenance costs.
5. Property Appreciation: Properties located in areas with universities or colleges tend to appreciate over time due to the ongoing demand for student housing.
6. Access to Parental Guarantors: Many students require parental guarantors to secure rental agreements. This can provide landlords with added financial security.
7. Property Upgrades and Maintenance: To attract students, landlords may need to invest in property upgrades and regular maintenance. While this entails initial costs, it can lead to higher rental rates and property value.
8. Market Resilience: The student housing market often shows resilience during economic downturns, as students continue their education regardless of economic conditions.
9. Opportunity for Long-Term Tenants: Some students may choose to stay in the same rental property throughout their academic career, providing landlords with long-term tenants.
However, it's important to note that student lettings come with their own set of challenges, such as property wear and tear and the need for effective property management. Landlords should be aware of these challenges and consider strategies for mitigating them to maximize the benefits of student lettings.

Written by First 4 Lettings

Find your next property

Fees

Close
PERMITTED PAYMENTS

As well as paying the rent, you may also be required to make the following permitted payments:

1) Holding Deposit: Up to one week’s rental

2) Deposit: One month’s rental (5 weeks rental dependent on individual’s circumstances)

3) Payments for utilities (gas, electricity & water), communication services (telephone & broadband), Installation/Subscription of cable/satellite, TV licence and council tax

4) Default Fee (late payment of rent): If full Rent is not paid within 14 days or more of the Rent Due Date there will be a charge 3% plus the Bank of England base interest rate of the full rental amount until full payment is received

5) Default Fee (breach of tenancy agreement, any other permitted payments, under relevant legislation including contractual damages): For any breach of the tenancy agreement based on the reasonably incurred costs of the agent or landlord

6) Replacement of keys, fobs or other security devices

7) Default Fee (changes to the tenancy): An administrative charge of £50.00 or greater for any assignment, variation or novation of the tenancy agreement made at the tenant’s request (only if agreed by The Landlord and/or The Landlord’s Agent)

8) Payments in respect of early termination of a tenancy agreement at the tenant’s request


TENANT PROTECTION

First 4 Lettings is a member of Client Money Protect which is a client money protection scheme, and also a member of PRS (Property Redress Scheme), which is a redress scheme.