Whilst the student property market can offer private landlords a lucrative and worthwhile business thanks to better-than-average yields, there are also financial pitfalls.
At this time of year it can be tempting for student landlords to be more concerned about ensuring full occupancy levels and many operate on a “get them in, sort it out later” basis due to the pressures of working around an academic year.
However, private landlords should treat students as they would any other tenant and undertake full referencing checks first.
student landlords
Although many students are reliable, regular payers most students have little or no income and are therefore not able to guarantee the obligations of the tenancy that they sign.
The key is to ensure that they are properly referenced and have solid guarantors to ensure that the landlord’s position is protected.
It is hugely advisable for landlords to ensure their student tenants have a sound guarantor who has the financial credentials and a responsible attitude to ensure that the landlord gets the property back in the right condition and that the rent is paid on time.
