Renting to student tenants – what landlords need to know
In the UK there are currently 2.3 million students studying in higher education, according to the Higher Education Statistics Agency. And many of those students will be looking to the private rented sector for their housing needs.
For landlords, renting to students is an attractive option that can result in good rental yields and straightforward annual contracts. But it is important to get certain elements right from the start.
Student Landlord Advice: New student tenants moving in?
- Choose the right agreement. Will you be issuing a single or joint tenancy agreement? Each agreement has different implications for the tenant’s liabilities and responsibilities, so it is important to ensure that your tenants are clear about your expectations and what is required of them.
- Conduct a thorough check-in with your tenants. If you can, make sure your new tenants are present at check-in. If your tenant has signed to verify the condition of the property when they moved in it can more easily be compared to the condition of the property at check-out. Include dated photographic evidence if possible.
- Include a clause on nuisance – reminding student tenants to be respectful of the neighbours in a written clause will assist in settling any issues should they arise at a later date.
- Remind students about no smoking policies and include this within tenancy agreements. Did you know it is an offence to smoke in shared areas of residential premises?
- Education is key! Keep your tenants up to date about their responsibilities and make sure they are aware of potential deposit deductions should there be any damage or cleaning required at the end of the tenancy. This should also all be outlined in your tenancy agreement.
Moving out day
Once your current student tenants have moved out it is likely that you will be looking for new students to move into the property as soon as possible.
It is however important that the property is in good order before the new tenancy starts.
Student Landlord Advice: Check out our top move out tips for a smooth moving in day!
- Remind current tenants that they should return the property in the same condition they received it in. They should refer back to the check-in report if there is any confusion about the state of repair of the property when they moved in.
- Tenants should ensure that they clean and tidy the property, including any appliances before they move out. If the property has a garden this should also be maintained. Even if it is he responsibility of their housemate to clear their own room, an unclean room could affect everyone’s deposit. Refer them back to the tenancy agreement for a breakdown of their responsibilities.
- Don’t forget to remind tenants to communicate openly with you about any damage to the property or items that need replacing.
- Be open to negotiating with your tenants should problems occur. You must be prepared for fair wear and tear in a property, as this is inevitable especially if renting to student tenants.
- Make sure you conduct a full check-out inspection of the property. Ideally, it is best practice for the tenants to also be present so they can answer any questions you might have.
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We accommodate for student tenants on our landlord insurance policies at no extra cost
Disputes over deposits are one of the most common things that can go wrong during the student check-out process. Why not pass on some of Hamilton Fraser administrated mydeposits’ expert advice guides to your student tenants? This may help to reduce deposit disputes at the end of the tenancy.
- Get your deposit back – blu-tack facts
- Get your deposit back – Looking after the garden
- Top tips for keeping your property in good condition
- How to discuss deposit deductions with your landlord or agent
- Preparing in advance for deposit disputes
Don’t forget to check out our landlord insurance policies for more information. We accommodate for student tenants at no extra cost.