Letting property to student tenants in Edinburgh
A huge number of students come to this city for getting education. The number of students is rising every year as the government is encouraging more foreign students to get education in Edinburgh. Properties are highly demanded by the students in Edinburgh. Those properties are attractive for the students which are close to universities, colleges, public transport etc. On the other hand majority of landlords prefer to rent out there properties to students, as they are rented out almost the entire year.
There are many accommodations for students, like, halls of residence; houses of multiple occupation. These are specially built for this purpose. Still there is high demand of student properties. This growing concept pushes a private landlord to come in the market.
Playing safe when renting property to students
If you are a landlord and you are thinking for renting out your property to students then you must take positive steps to be on the safe side. Letting out property only to students that have been recommended by their colleges is a good way to start. Being a landlord you should clearly explain them their responsibilities and give them the house pack. You have the right to ask them for references, if they fail to do so then you must ask for a guarantor in case they are unable to pay the rent. You should prepare a list of the state of the property and its items and explain the tenants that they will be responsible for any repairs and damage to the property.
Plus side of renting property to students
This is fact that the rents of student properties are escalating as there is an excess of demand over supply. Besides these students can easily share living rooms, kitchen etc, hence there can be more tenants in a student’s let and accordingly yields will be high. If you have students as tenants in your property then it mean that you will not be committed into long term contracts. One important thing about the student tenants is that they are tolerant, straightforward, undemanding and easy going.
Downside of renting property to students
Occasionally student tenants can be noisy and upsetting for you. You might have to face penalties from your local council for that. During the summer vacation many student properties are vacant. Another thing which may cause trouble that student tenants also have problems for providing credit references. Maintenance bills of such properties are mostly high, as students are careless and they are mostly living in the form of groups. Research shows that students like private student accommodations as compare to the private lettings.
Majority of the students prefer good value for money and convenience. Most of them prefer those areas which are close to their universities and other friends. Favorite areas of the students are those which closer to shops, restaurants, cafes, local stores and banks.
Carol Riley - About Author:
Carol Riley is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on edinburgh flats to rent, please visit edinburgh student accommodation.
Published by Carol Riley on April 4th 2012 | Business
Published by Deepti on March 24th 2012 | Business
Published by Deepti on March 26th 2012 | Business
Published by Jessi Ashley on May 24th 2012 | Business
Published by Deepti on March 1st 2012 | Business
Published by Deepti on April 2nd 2012 | Business
Published by Deepti on March 21st 2012 | Business