Student PROPERTY MANAGEMENT
Student lettings can be a great option for Landlords, like you, and if done correctly, can ensure a high and consistent demand. Due to the cyclical nature of student lettings, you can be guaranteed longer rental periods, higher yields and minimal voids. However, renting to students requires some specific skills and considerations.
Student lettings is very different from standard HMOs, students are looking for:
- Specific locations – near universities, transport, nightlife and their friends.
- Particular amenities – student cafes, bars, restaurants and music venues.
- The best WiFi connection – this is imperative to their studies.
- Furnished properties – with beds, wardrobes and desks in every room.
Being a student Landlord means capitalising on the huge rush of students who want to change their tenancies in July/August for the new academic year, so it means being ready. Often this also means doing things quickly, in terms of any repairs, maintenance or any refresh/refurbs, in the window between one set of student tenants moving out and the new set moving in.
Student flat or accommodation management means very careful tenant selection, because choosing the right group is critical. If you do, you will ensure harmony and co-operation within the household and the protection of your property, if you don’t there could be costly consequences! The key is to pick a group of students who are conscientious, friendly and will look after the property, so “the art” of tenant selection, is vital here. Student landlords should also be aware that students generally expect properties to be fully furnished, with desks in each room.
If you are a landlord and you are looking for management for student rentals, or would like to know what your property may rent for in the current climate, ring 0117 440 6789 or fill out our rental valuation form here.
Student Accommodation MANAGEMENT
Each local area is different but, generally, students will start looking for places to rent, for their new academic year, anytime around January (sometimes even earlier).
For this reason, it’s really important to use student letting agents who understand and know your local area and can get bookings in early, making sure properties are full and advising landlords of the best prices.
It is also important to know how and where to market to students and, what types of properties and amenities students will be looking for, for this reason, ensure that you choose a student lettings company who has experience in this sector of the market and who can advise you on:
- Compliance and legislation,
- How to furnish your property to attract a high calibre of student,
- The best platforms to advertise your property.
Student lettings is a specialised area, which needs careful consideration and hands on management but, with the correct support and advice, student landlords can reap the benefits of high demand, longer rental periods, high yields and low void rates.
Choosing a local Student Lettings Company
If you are looking for student accommodation management in Bristol, the power of leveraging the local knowledge of a team concerned solely with local student lettings is invaluable and should never be understated.
Having the inside track on student areas close to Bristol’s universities and colleges, transport links, local employers with grad schemes, as well as local hot spots, cafes, and music venues will be just as important to you as the fluctuations and idiosyncrasies of local rental values.
This is where a good local student letting agent can add so much value to you and, by harnessing this knowledge you can maximise the potential of your student rental portfolio.
If you would like to know more about student markets or how we can help you with your student property management in the South West, contact our branches, using the buttons below.
This is where a good local student letting agent can add so much value to you and, by harnessing this knowledge you can maximise the potential of your student rental portfolio.
If you would like to know more about student markets or how we can help you with your student property management in the South West, contact our branches, using the buttons below.
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