As a landlord or an agent, you may not prefer students as tenants, at least, not as the first of your choices. However, a recent survey of a sample of landlords and lettings agents who rent out accommodations to students and non-students to find out if students are good or bad tenants only ended-up suggesting that they are indeed the right choice for letting out accommodations to.
The research revealed that 69% of landlords and letting agents consider it better to rent to students and 84% agree that students do make good tenants. Let us see what they felt were the reasons for such an opinion.
Students actually owe their distinctly positive image to some basic facts arising from a student life and being dependents on parents and family.
- Student lets generally lead to better yields as there is the ready annual market of new students every year.
- Students often have the financial support of parents or family and as such, rent tends to get paid well in time.
With a huge shift in the lifestyle changes, the idea of student accommodation has also transformed over the last decade. Students nowadays think differently than their previous generations. They now seem to have a good idea of what they are looking for and try to hunt and acquire the best properties possible.
The results of the survey were also shared across the UK and the only exception turned out to be London, which rated lowest the preference of letting out to student. Only a 3.7% of those surveyed reported no apparent benefit from letting to students.
Reflecting on the above statistics, we can assume that if landlords and letting agents in London also join the league, they can well ramp up their incomes and businesses with a response from tenants that won’t be bothersome. It was also observed by the same survey that with more students opting for shared accommodation, a lot of them look out for two-bedroom apartments in London. The fact that students are making such searches only rings positive bells for tenants and suggest that it is indeed the time to start renting out to students for better returns and renting experiences. It means that landlords always have a good chance of capturing the best student tenants at the peak time when most students are graduating to various educational institutes for higher studies.
Share On
