A number of landlords and letting agents are concerned that they won’t be able to let their properties by the start of the forthcoming academic year, according to a recent survey by Glide Utilities and reported in the Landlord & Buy-to-Let magazine.
The research was undertaken to determine what facilities affect a student’s choice when searching for accommodation. The results from those who took part showed that the majority of choices fell into several categories that could ultimately aid landlords in securing student tenants for their properties.
The survey showed that the vast majority cited fast broadband speed as an essential requisite. With many not wanting to simply ‘slum it’, comfort came out highly with over half wanted double beds and good storage space. Location was also a factor with over half wanting to be close to the university. Others wanted good transportation links and a well populated student area. Nearly three quarters said that an all-inclusive rate with one easy monthly payment was an important factor.
It would appear that the ideal number of tenants is 3 with over a fifth preferring to live with only two other tenants even though most live together in slightly larger groups of 4 or 5. 59 per cent would prefer a large communal living room rather than it being converted into an additional bedroom.
Glide Utilities’ CEO, James Villarreal said “While the majority of students are satisfied with their accommodation, we can’t ignore the fact that this figure is gradually falling. This isn’t because conditions are slipping, necessarily, but that student expectations are rising”
If you are looking to rent to students then make sure you check out the average rental for your area and that you don’t overprice your rental rate. Don’t forget to factor in expenses like landlord property insurance. Property insurance from Click4quote.com can provide cover for a range of tenant types including students. With cover for theft and malicious damage by tenant, accidental damage, rent recovery and rent guarantee why not get a quote online today and see how Click4quote.com can help protect your student let property.