When it comes to finding tenants for your buy-to-let, students are a great option given the high rental returns. However, these days they can have quite stringent standards when it comes to interior design and overall standards of fixtures and fittings. As a student landlord here are a few overall things for you to keep in mind when finding student tenants:
Super Speedy Broadband Connection
Being able to link-up with buddies instantly via Twitter, Facebook, Instagram etc is essential to mainstream student social life. Therefore if you're trying to let a property with a slow broadband or one which is haphazard then 'game over' we're afraid.
Good size communal area
Understandably most students want their own room. But that's not all. They will also be looking for somewhere in the property to congregate after the pub (for ‘intellectual debate’ of course). This is where the living room or dining kitchen comes into its own. Offering a social area doesn't just mean your tenants will be happier, but they'll probably get on better with each other too (provided those ‘debates’ don’t get too heated).
Easy-to-calculate bills/ bills inclusive option
It's difficult enough trying to work out how much of the grant goes on the kitty for essentials such as milk and toilet roll, but for students to remember to leave aside cash for unexpected gas bills can be well, pretty much impossible. It's best therefore to add in as much as you can to the monthly rental bill to make it as easy as possible for them to rent your student dig.
Location, location, location
The location of the property falls into the top 3 decision factors for students when choosing their next dig. Make sure the property is close to transport links to the University as well as other local amenities. We all know it's bad for us but everyone hankers for fast food once in a while - and students probably more than most (too busy ‘studying’ to cook!). In addition, we all need to socialise with our mates in convivial surrounds every now and again – and this is where the pub comes into its own.
A desk and chair in every room
It's hard enough to study when a bunch of flatmates are heading for the local club in town. But what's even more difficult is if it has to be done on the bed because there's no desk. The danger here is that it’s easy to slide down the bed into a lying position and before you know it those 'Zzzzzzz's' are coming thick and fast. And the last thing you want as a student landlord is to lose a tenant because they've failed their course exams!
Online vs offline?
Gone are the days when the best way to find a student tenant was by sticking a postcard up in the local corner shop window. Today just about everything for this generation is done online. Students are more likely to see your advert online than anywhere else so get down with the ‘tech.’