renting student accommodation

The UK’s world-leading higher education system attracts young people from around the globe and this has led to a boom in student accommodation for landlords looking for a steady income. However, renting to students does come with its challenges. If you’re thinking of taking the plunge into student lettings, here are Ten pitfalls you may encounter.

Student tenants tend to be new to renting and often this will be their first time living on their own. As such, they are less likely to take care of the property and may cause damage. This is why it’s important to collect a security deposit before the student tenants move in. It’s also wise to include a quiet hours policy in the lease agreement so that the students are aware of your expectations when it comes to noise levels.

Unlike most other types of rental shared student accommodation birmingham aren’t used to having to pay for their own homes and they are unlikely to be as financially disciplined as the average tenant. In many cases, their parents will make the payments on their behalf and they might also have some supplementary income from part-time jobs or work-study programs. This can lead to late payments and a lack of commitment to paying the full rent each month.

Ten “pitfalls” you may encounter when renting student accommodation in Birmingham and how to deal with them

Many students will be on a tight budget and so won’t be looking for the latest stainless steel appliances or freshly tiled bathrooms. They will probably be more concerned with the location of the property, how close it is to campus and if it has good wi-fi access.

As mentioned earlier, student apartments in birmingham are often noisy and they can disturb neighbours and other tenants in the same building or block. It’s worth including a quiet hours policy in the lease agreement to set out when the students can and cannot have parties and celebrations. It’s also wise to invest in a decent alarm system that will notify you if there is an issue.

Students are a bit more disorganized than the average tenant as they’re juggling a lot of different things at once. Depending on the type of property, you might have to deal with messy rooms or unclean kitchens. You can help by providing a cleaning service and imposing a cleaning schedule.

Students don’t always have the best credit history and it can be tricky to check their background and employment information. This can be a problem if you need to evict them for nonpayment or if there’s a property damage issue.

Students often sign short-term leases that run the length of each school term. This can mean that you have to find and process new tenant applications more frequently.