Being a landlord of any property is not always easy, in fact for many it is a learning curve. You will need to learn how to deal with a different variety of people as well as ensuring that you correctly maintain the property.
When you are a landlord of a property that houses students there are other things that you need to learn and put in place in order to appeal to those prospective tenants and keep them happy whilst they live there.
As Manchester is a popular city for students to live in here at the Manchester Estate Agent we have put together our top tips for those new landlords entering into the world of student accommodation.
Storage space is key
Students will often be looking for accommodation that has plenty of space to store away their textbooks, stationary and of course all those little bits that they have brought from home, especially since they will often only have one room of their own within which to store it all.
Make sure that you have plenty of places to hide away all their things such as fitted wardrobes and shelves and you could find yourself a popular landlord.
Keep them connected
If you ask a student what is vital to them when choosing accommodation they are likely to tell you that fast and reliable broadband is up there in their top 3. It is important to check that you have a good speed broadband connection and it can handle demands of several people connecting at once.
Have some chill out space
Being social is another important part of student life, so having a communal area for your tenants to come together and chill out is always going to appeal. Some landlords have been known to sacrifice a living area for another bedroom (ultimately making more money) but this could put students from living there.
Offer inclusive bills
One thing that appeals to student tenants is having their bills all included in their rent. That way there can be no disputes over who owes money for utilities and also no student (or landlord for that matter) will be left with bills if other people move out. Having a set fee every month should stop any arguments from arising.
Being a landlord of students may seem like a daunting idea but the truth is that not only can it be a great way to make money but can also be rewarding knowing that you are helping the future generations to take their first steps towards independence.
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