Thinking of Letting Your Property to Students? What Should I consider?
Will My Property Be Suitable?
- Type of Property
- Transport Links
What additional work will I need to carry out?
- Renovation / Decoration?
- Magnolia blitz
- Stud Walls
- Electricity / gas/li>
- EPC / Gas Safety / Electrical (Not Essential in Coventry)
- HMO License
- Wired in Electrical in Smoke Alarms
- Fire Doors
- Emergency Lighting
- Fire Blanket / Extinguisher
- Fire safe furniture
- Bed / Mattress / Mattress Cover / Desk / Seat / Drawers / Wardrobe
- Internet Connection
- The correct package
How Can I Advertise the Property / Rooms?
- Right Move / Prime Location / Zoopla etc.
- Easy Room Mate / Spare Room
- Attractive Photo’s
- Emphasise Only for Full Time Students
- 12 Month Contracts
Viewings and tenancies? Any tips?
- Collect them from an easy to find place
- Confirm viewing on the day
- Confirm funding (guarantor needed)
- Contract term
Tenancy agreements? Any tips?
- Additional terms/charges you may could include:
- Mattress Cover Replacement
- Out of hours call outs
- Lost keys
- Early / weekend departure
- Regular periodic visits
- Build relationships / trust
Moving in a new tenant? Any tips?
- Go the extra mile & be different
- Collection from old property / Airport / Station
- Tenancy Agreement / Inventory
- Go through each page briefly (Initial each page)
- Inventory clear and detailed (Initial each page)
- 10 days to notify of any alterations needed.
- Contact information and processes.