Landlords are weary of letting their properties to students. It’s understandable because of the cliché of having empty beer bottles lying around, broke students falling behind on their rent and out of control parties. Owners often ask themselves, ‘ShouldI rent out to students?’
Renting to students is extremely competitive and as a landlord, you have more advantagesletting to students than you’d think!
Here are HYBR’s 3 reasons why you win renting out to students:
You are unlikely to experience rent voids
There is always more demand than supply! You can guarantee that you will have tenants reliably entering a 12-month contract at specific points in the year.
You can guarantee income from rent
Students not being able to keep up with rent is a misguided anticipation amongst landlords because of the inability to reference or credit check young adults. However, unlike with professional tenants, you can rest assured that students can rely on their money from student loans and if that fails, the support of a guarantor. Guarantors are usually a parent who will pay the rent should the tenant fail todo so.
Students are easy tenants
You need not spend a fortune! Student tenants are not fussy, they’re not expecting Buckingham Palace and landlords won’t be under pressure to purchase state of the art furniture or high-end interior designer. The tenants expect running water, general maintenance and household appliances such as a washing machine which is a standard. You can also relax knowing you have deposits in case of damage and students hate risking their deposits.
At HYBR, we offer attractive incentives to landlords including cheaper rates, flexible packages tailored to your portfolio and needs, great customer service, access to reliable student tenants and trusted contractors.
Get in touch today for a consultation with a friendly and helpful member of the team. Email us at email@example.com. We always love a chat!