Why students make good tenants

Alex Johnson

ac723fbfb36dafce8e0e62dcc850f7fb3b569f60 300x225 Why students make good tenantsFigures from the National Landlords Association (NLA) suggest that, contrary to some people’s belief, students are rather reliable tenants and the least likely of all tenant types to miss a rental payment – only 38 per cent of landlords letting to students have experienced arrears in the last year.

Student landlords also experience the lowest incidence of voids with fewer than one in three having empty properties in recent months, and indeed student tenants and Houses of Multiple Occupation (HMOs) offer the highest rental yield at 6.7% and 7% respectively, higher than the 6.1% UK average.

“It is encouraging to see such positive figures reported by landlords who let to students,” said Carolyn Uphill, NLA Chairman.”However, it’s important to highlight that letting property to students, indeed letting to any tenant group, is not an easy win. As a student landlord myself, I know that it can be very hard work and requires the investment of time as many of your tenants are living away from home for the first time. It is this dedication to the relationship that makes letting to students so rewarding.

“As with all tenancies, it’s important to establish a good, professional relationship from the start. It is also essential that you set out fair terms in your tenancy agreement and that both landlord and tenant fully understand their obligations throughout the tenancy. If you get this right then the tenancy generally runs smoothly.

Mortgage news
* Clydesdale and Yorkshire Banks are launching a range of ‘fee free’ mortgages offers, waiving arrangement fees for customers looking to buy a new home, refinance their existing mortgage with the Banks or switch their mortgage to Clydesdale or Yorkshire Bank. The offers are expected to run until December.
* Norwich & Peterborough Building Society (N&P) has seen a surge in mortgage applications in recent weeks, with the number of applications last month the highest received by the Society since 2008.
* From today, Nationwide is reducing all two-year fixed rates available up to 70% loan to value (LTV) by 0.1 per cent, the Society’s lowest ever fixed rate deal. The changes include Nationwide’s first sub 2% fixed rate product, available up to 60% LTV for their existing mortgage customers
* HSBC has launched ‘First for First-Time Buyers’, offering mortgage rates at 90% LTV and pledges that its range of 90% LTV mortgages will be the lowest on the High Street across two and five year fixed rate products and lifetime trackers. The rates are available now for home buyers with a 10% deposit. Fees are £999 for HSBC current account customers, non-customers can open an account and pay the same fee, otherwise fees are £1,499.

Pictured above is a five bedroom detached house in New Road, Ironbridge, Telford, Shropshire. It is a double fronted early 19th century Grade II listed house with views over the Ironbridge Gorge, on with Nock Deighton for offers in region of £399,950.

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  • smartmind

    Agree with your first paragraph. Students are inconsiderate and selfish residents. Being temporary they don’t have that ownership of their area. This does make it hellish for permanent residents. My own street was 80% residential when we moved here, but over the years has gradually converted to 70% student/HMO lets.

    It is deserted in the summer months. The local supermarket and shops cater for the students (ie lots of booze and student paraphernalia and less family friendly stock). Every student house has had a burglary (careless students leaving empty houses with open windows; being targeted for their gadgets openly on display – eg expensive laptops in window desks), which also plays havoc with house insurance costs.

    That said I wouldn’t blame the landlords as in my street they put in a lot of effort in maintaining their properties with regular garden services; regular yearly upkeep/improvement of the properties and respond promptly to reports of any nuisance. It is just the inconsiderate, boozing, partying students that are the problem. They litter the streets, leaving their bins out permanently; park inconsiderately (one parked his car blocking our drive in an otherwise empty street and when challenged said he was from Oxford and didn’t know the area), have rowdy parties. One student neighbour even had the nerve drop a letter before he and his friends went on holiday to ask us to keep an eye out on his property when he had never even bothered to say “hello” before that!

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