September means back to school, college and university for the nation’s
students. It’s also a time when student tenants take up their places in
student flats and houses at the start of another academic year. But do
students make good tenants?
Landlords Say Yes to Student Tenants
According to the National Landlords Association (NLA) students make excellent
tenants. This may seem surprising to some landlords, especially those who
remember the iconic programme from the 80s – The Young Ones. A lot of people
view students with suspicion. They think that students will trash the place,
hold wild parties every night, and generally spend much of their time in a
drugged or drunken stupor. But this is not necessarily the case!
3 Reasons to Let to Students
Fewer rent arrears – students are a lot less likely to default on
their rent. In fact a lot of students pay their rent for the year in advance,
particularly if the property is in a highly desirable area.
Fewer void periods – students are more likely to keep their rooms for
a full year, even if they are not always there during the holiday periods. It
is also easy to replace a departing student with a new one thanks to word of
mouth recommendations and advertising via the college or university.
High rental yield – the more reputable the college or university, the
more popular and sought after accommodation in the area will be. This means
rents are higher and therefore investment returns are good—the only exception
being London (thanks to exceptionally high property prices).
