6 top tips when renting to a student tenant
Whilst the student tenant market is buoyant student accommodation tends to have a higher turnover of tenants with a higher degree of wear and tear. Furthermore with the increase in oversees students their maybe a cultural and language problem often leading to the student tenant not realising their responsibilities.
To minimise your costs follow 5 simple steps.
- Buy extra durable furniture – it is important to furnish a student property appropriately, as you will need to expect more fair wear and tear than you would with a group of working professionals.
- Be clear on your smoking policy – the Smoke-free Regulations introduced in 2007 made it an offence to smoke in shared parts of residential properties, such as hallways. If a student tenant has smoked in the property, you may need to claim for deductions on the deposit at the end of their tenancy for cleaning. Therefore, it is best to highlight your policy at the beginning.
- Do a thorough check in and check out report – it is best to have tenants present whilst you carry out these checks. Include manuals on how to work the property’s appliance to avoid unnecessary damage. It is also advisable to carry out a mid-term check.
- Make the student tenant aware of deposit deductions – be extra clear in who is responsible for communal areas and what happens to the deposit in case of damage.
- Include a clause in the tenancy agreement about nuisance – outline what is considered a nuisance or anti-social behaviour. Examples can be playing musical instruments, loud music and TV noise.
- Take extra deposit to ensure you have enough to cover your costs. With oversees students in their final year it may prove difficult to recoup your losses through the courts.