HOW TO MAKE MY TO-LET PROPERTY ATTRACTIVE TO UNIVERSITY STUDENTS
Buying a to-let property is easy but what about when it comes to appealing to your local university students? This month Uni2 Rent is here to offer you some advice, to help you well on your way to being a successful landlord.
Students want to rent a property in a good location
Think about where you buy a property – Oxford students will likely live on campus – so buying a place here would be pointless. Look for places where students will be looking for private landlords. Pick a city that has two universities, this means you won’t be stuck for choice when it comes to student enquiries. Do your research on the university students you wish to attract because some universities will have a list of approved landlords and estate agents to help their students to find clean and safe accommodation.
It’s also important to consider:
- Transport links – commuting to and from campus needs to be simple. Take proximity into consideration and look to buy a property close to tram stops, bus stops or train stations, convenience is key and so this will attract students.
- Parking – having a driveway is desirable and is much more accessible than an area that requires a permit.
- Noise – a property a little bit further out from the hustle and bustle is better for young professionals, third-year students or those doing post-graduate degrees and masters.
- Broadbands – with 3-5 students in one house, your broadband must be up-to-scratch. They will require the internet to research and complete project, as well as stay up-to-date with their social life.
- Safety – before their children head off to university, parents will check the crime rates in certain areas, so assess this before purchasing.
Students live in groups of 3-5 persons
Consider the number of bedrooms in the property you buy, as students like to live in groups of 3-5. It’s in your interest to buy a place with 5 bedrooms, if possible, this will help you to maximise your income and better your investment.
Students want to rent a property with functioning white goods
A property without white goods will put students off, they need a practical home where they can cook, clean, store food and wash their clothes.
It is expected for a student home to already have:
- Fridge freezers
- Washing machines
- Tumble dryers
Students want a fully furnished home
The same goes for soft furnishings, students will be looking for a property that already has:
- Tables and chairs
- Curtains or blinds
It’s more attractive for a university student to be able to move straight into a property without having to put money towards these basic expenses.
Students are attracted to fresh, open spaces
As heavy internet users, students will be looking for pictures of potential properties, so make yours stand out. Make sure all of the images are light, bright and spacious, and write a thorough description that includes details such as the number of plug sockets in the room.
Finding property management that’s right for you
Look at the reviews of property management companies and look into the services you want them to provide. Having a middle-man when renting your property can ensure your tenants have a constant point of contact, should they have any queries or concerns.
For help and advice when letting to students in Nottingham, call Uni2 Rent. We have a wealth of experience in the industry and provide excellent services to ensure landlords and their tenants experience a streamlined service.
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