Since 2011, we’ve been letting properties to students and helping landlords manage their properties profitably. In that time, we’ve become one of the larger student property management companies in Bristol, so we like to think we know a thing or two about letting property to students.
Whilst letting property to students can be very profitable, it is not without its complexities. In our latest blog post, we look at some of the key things you should know before deciding whether to let your property to students.
What to Look for When Buying a Property as a Student Let
Before you begin letting to students, you need to make sure your property is suitable for them. When choosing your property, keep an eye out for the following features that will make it more attractive as a student let:
- Proximity to the university.
- Proximity to transport links such as train stations and bus routes.
- Proximity to the city centre and other social hotspots.
- Minimum of 3 bedrooms up to 5 or 6.
- Large communal living areas.
- Large kitchen.
- Garden with seating area.
- More than one toilet – en-suites are a very desirable feature.
essential furnishings for a student website
Laws and Regulations for Student Properties
In addition to your standard obligations as a landlord, such as gas, electricity and fire safety obligations, you may have a number of additional legal responsibilities when letting to students, including:
- Many student properties will require a licence, depending on the property and local licensing requirements.
- You will need to ensure appropriate fire safety measures are in place throughout the property.
- You are legally obliged to place eligible tenancy deposits within a government-approved Tenancy Deposit Protection (TDP) scheme.
- You must ensure all communal areas are clean and in good condition.
- You must ensure that there are adequate cooking and washing facilities for the number of people living in the property.
Do I Need To Pay Council Tax?
If your property is wholly occupied by full-time university or college students, your property will normally be exempt from council tax. If your property is not wholly occupied by full-time students, different council tax rules may apply depending on who is living in the property.
Do landlords of student properties have to pay council tax?
Furnishing for Student Properties
With many students coming straight from their family homes, they do not have furniture to bring into their new accommodation. For this reason, you should ensure that the home is part or fully furnished to give you the best chance of letting your property. Essential furnishings include:
- Carpets, curtains and lighting.
- Essential cooking equipment such as a fridge, freezer, oven, microwave and kettle.
- Chairs, sofas and tables.
- Beds, mattresses and mattress covers – bedding such as quilts is not essential.
- Adequate power outlets in each bedroom.
- Basic cooking equipment including utensils, pots, pans, bowls and plates.
- Desks in every room to ensure students can work undistracted.
- Many students will now expect double beds in their bedrooms.
To ensure that your investment isn’t wasted, be sure to carry out an inventory before the tenancy begins. This ensures that the condition of items is recorded from the outset. Make a copy available for the students to agree and sign to help avoid disputes at the end of the tenancy.
Essential furnishings in a student property
Do I Have to Carry Out Repairs on the Property?
As a landlord, you are responsible for major repairs including faults affecting the structure of the property, sinks, baths and toilets, heating, wiring, gas and electricity. However, minor tasks and any damage caused by your tenants may be their responsibility.
Remember that you can’t just turn up and let yourself into the property. Landlords should normally give tenants at least 24 hours’ notice in writing before visiting to inspect the property, unless there is an emergency.
Rental Periods & Property Vacancies
The nature of student tenancies means that students will usually be in residence for the academic year, with some staying in the same property for longer. This can save you the time, hassle and expense of finding new tenants and help keep your earning potential high.
Additionally, with students generally going home between term times, you may have the opportunity to carry out non-intrusive maintenance whilst the property is less occupied.
However, because of these term times, there can be periods when your property is left vacant. This can be a security issue and a headache for landlords who don’t live locally or use a property management company.
Student Behaviour
Student life can often include drinking and nights out, and cases of students behaving antisocially are not unheard of, whether that is making excessive noise, having parties or causing damage.
Am I Responsible for the Behaviour of My Student Tenants?
Whilst you are not directly responsible for their behaviour, landlords should take complaints of antisocial behaviour seriously and act appropriately where necessary.
Can I Get Help if Students Are Behaving Antisocially in My Property?
If you are being contacted by neighbouring properties complaining about antisocial behaviour from your student let, your best option is to first contact the students directly. If you still receive complaints, you may wish to seek further advice or contact the relevant university where appropriate.
Can I Terminate a Tenancy Early for Antisocial Behaviour?
Whilst this may be possible in certain circumstances, it should be a last resort. If you do need to take action against a tenant for antisocial behaviour, we would recommend seeking specialist advice to ensure the correct legal process is followed.
Stress-Free Student Property Management with Bristol Lettings (Digs)
As you can see, renting your property out to students comes with a number of additional obligations and responsibilities for landlords. At Bristol Lettings (Digs), we make it easy, offering fully managed services for landlords, from rent collection services through to full property management.
If you want to find out more about letting your property to students, give one of our team a call on 0117 930 8750 or fill out a contact form and we’ll get back to you.
