The student accommodation market is one that has inspired many people to invest in property, not least because students are seen as a guaranteed rent source. And despite the fact that the cost of higher education is being much more substantially shouldered by students themselves, these changes have not had any adverse affects on the number of people going to college or university.
Aside from taking out let property insurance or a similarly suitable policy, what other issues should you bear in mind when renting to students? Many landlords are under the impression that students will be bad tenants – making too much noise in the evening, upsetting neighbours or not taking good care of the fixtures and fittings are just some of the problems they invisage.
But as many landlords have discovered, students can be some of the best tenants you can get – not only will there be a very high number of them turn up every Autumn so you can nearly guarantee filing your rooms, but many students’ parents are prepared to act as guarantors, so that if they mess up, mum and dad will foot the bill.
Other key factors to consider before taking the plunge include location and transport links. Ask the university about what demand there is in what area to see where students actually want to live. Proximity to the university or good bus or train links will be a very big factor in students choice of accommodation.