Advice Required on renting to Students

S

spyder

Guest
Anyone got any advice on renting to Students? Letting agent has approached me regarding letting to 4 students (not 1st years) Parents have agreed to sign guarantee apparently and letting agent has negotiated a higher security deposit than normal. As Ive never let to students before - any advice regarding the lease agreement, payments or indeed any pitfalls would be greatly appreciated?

Thanks
 
Any references from 1st yr digs?
Are they male or female - females can be a bit messy but easier on your property than beer drinking/take away males. (I know its a generalisation but its experience talkin)
Get no smoking in house clause.
 
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Also, check with your house insurance. AA required that I rented to a professional/family member and not to students, which wouldn't have been covered.
 
Best advice is not to rent to students. That said if you have a very very large deposit and a good parental guarantee you should be ok.
 
I remember reading an article lately (think in the indo) regarding landlords in the regions who for years wouldnt dare even contemplate renting to students who are now crying out for these steady income streams i.e. 9 months guaranteed rent which you know will be certain as mommy and daddy will be picking up the tab!

A spotless, pristine and smokeless house isnt much use to you or your bank (if the place is mortgaged) if you cant fill it...

As a person who recently just moved into a place but also have family members who rent properties, I can tell you first hand that the market these days is a whole different animal!

Fill your house!
 
monagt said:
Any references from 1st yr digs?
Are they male or female - females can be a bit messy but easier on your property than beer drinking/take away males. (I know its a generalisation but its experience talkin)
Get no smoking in house clause.
Click to expand...
In my experience of renting, having males or females is irrelevent.
 
I have let to students for the past 15 years as the house is near a University and it is very hard to read what students you are letting into your house. I have great groups of girls and also some great lads in the house but also some nightmares I would find it hard to say which are worse but generally expect the house not to be anything like the house you let them into.
The house has to be gutted every summer after they leave they usually have a few parties during the year and you are lucky if too much damage is not done. I would say if you are a person that would get upset if your house is trashed dont let to students as it is likely it will happen at some stage the estate I let in are mostly houses let to students and some of the landlords could tell you stories about the damage done to their houses in general I have been lucky but I live near the house and call to collect the rent so can keep an eye on it and demand a clean up every so often.
 
Thanks all.

Just back from a break. Would anyone know where I could get a sample Parent Guarantee form?
 
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