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Student Rental Property
Are you looking for a way to make your rental property more appealing to students? Then you should do everything possible to make it accessible, comfortable, and safe for student tenants. Discover some helpful tips and tricks to make your rental property a great place for students to live.
Renting out your property as a student property can be a lucrative investment. It gives you an extra income stream and can also be a great way to reduce your monthly costs. So let’s look at the best ways you can make your rental property ideal for student tenants, from providing them with discounts to making it easy for them to get around and feel happy.
How can I attract more tenants?
You can do many things to make your rental property more appealing to student tenants. Here are the top twelve ones to consider:
Make it easy for students to get in touch with you
You can do this by setting up a website or social media page and making it easy for them to contact you directly. You can also add a phone number or email address to your property’s signage.
Offer flexible leasing terms
Many landlords offer shorter lease terms (such as six or twelve months) to attract students who need somewhere to live but do not want to commit long-term to a place. This way, they know they can easily move out if needed without losing any money invested in the property.
Offer discounts
Discounts are another great way to attract students who value every dollar spent on their studies, which includes an array of expenditures ranging from visiting essay writing services such as Trust My Paper to transportation costs. In addition, many landlords offer discounts on rent or monthly fees for students who agree to remain in the property for an extended period (e.g., six months). This way, you can attract new tenants and retain existing ones.
Keep the property clean and well-maintained
Make sure the property is in good condition both inside and out. It will increase its appeal further and deter potential thieves from targeting it.
Provide high-speed Internet
Providing high-speed Internet access to your rental property is a great way to make it ideal for student tenants. It is essential for students because it allows them to access their studies, assignments, research data, and writing services such as Best Essay Education.
It also helps them stay connected with friends and family and keeps them up-to-date on current events. By offering high-speed Internet access to your rental property, you not only make it more convenient for your tenants but also attract new tenants looking for reliable and fast Internet service.
Include the right mix of furnishings
When looking to rent out your property to students, it is essential to strike a balance between providing the necessary furnishings and not being too cluttered or stuffy. Here are some tips for furnishing your rental property in a way that is both comfortable and accommodating:
- Provide comfortable seating arrangements, such as sofas and chairs, to make it easier for students to relax and get work done;
- Include a variety of books, magazines, and games in the living area so students can enjoy their free time and engage in enjoyable activities. Offer a fully-equipped kitchen
Make sure there are enough kitchen supplies, including dishes, cups, pots and pans, cooking utensils, etc. In addition, it will allow students to cook meals without feeling uncomfortable or the need to go over budget to purchase the necessary items.
Provide laundry facilities
Laundry facilities can be a huge convenience for student tenants, who often have a lot of laundry to do. Offering laundry facilities can make your rental property more attractive and help students save on expenses.
Storage facilities
One of the best ways to make your rental property ideal for student tenants is to provide them with convenient and affordable storage facilities. It can help them keep their belongings safe and tidy. Here are some of the most common storage facilities to consider offering:
- Portable storage units;
- Under-bed storage units;
- Off-site storage facilities (for bikes or bulky items).
Designated study area
One of the best ways to make your rental property ideal for student tenants is to create a designated study area. It will allow them to stay focused and uninterrupted while they are studying, which will help them achieve their goals faster.
You can do this by installing a wall or partition that separates the living area from the study area or simply putting up some shelves and chairs in one corner. Providing these simple amenities will help your students succeed in their studies and enjoy their time at your rental property.
Security
Apart from taking care of the proper property maintenance and furniture provision, it is important to ensure that you have sufficient security facilities for students. Modern students frequently use laptops, computers, and other technology they want to keep safe while away. To protect your rental property and tenants’ belongings, you can install things like secure entrances and exits, cameras, and smart locks that can keep unauthorised people out.
Inform students about the rental rules and the noise policy
It is important to ensure that your rental property is perfect for students. That means explaining the rules and noise policy to them in a way they can understand. The rules for renting out residential properties typically include:
- No parties or loud music after 11 pm;
- No smoking in the residence hall or property;
- Keep the premises clean and in good condition;
- Make all repairs immediately, and keep the property in a livable condition;
- Keep all doors and windows closed at all times when not in use to ensure privacy and security of your belongings;
- There are prohibitions on making excessive noise, having excessive guests, and engaging in antisocial behaviour.
In addition, it is important to inform students about your noise policy. Finally, it will outline the types of noises allowed and which will result in penalties or eviction from the property.
Conclusion
Now you know the steps needed to make your rental property more tenant-friendly. However, there are many aspects to consider when you want to rent out your property. First, remember that students cannot afford rents that are too high as they struggle with their finances.
It means you have the opportunity to lower your rates and make more money if you include features like emergency maintenance and rent refunds in the property rental agreement. With these additions, it is easy for a student tenant to get a good feeling about their new home.
The British Landlords Association is a national landlords association for residential & commercial landlords. Join us today; membership for the year is only £69.95
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Disclaimer:
This post is for general use only and is not intended to offer legal, tax, or investment advice; it may be out of date, incorrect, or maybe a guest post. You are required to seek legal advice from a solicitor before acting on anything written hereinabove.
