Anyone here own and let out a house to students?
I am thinking of buying a student house as part of my pension. I am after some advice, know nothing about being a landlord, are there any good websites out there with info on all the things I will have to take into account – minimum safety requirements, legal documentation etc.
Any advice is greatly appreciated at all really.
I have a house in mind, it is in the town I went to uni, so know the location well.
So far I have though of contacting the uni to ask for their long term accommodation plans as I don’t want to buy a house if they plan on creating another 20’000 beds in halls of residence!
Thank you all in advance
Dave
I've rented property out,commercial and residential for years.
A student house may bring in more rent in the short term than a single occupancy property but repairs and maintenance costs could be appreciably higher.
You could have a look at auctions where the property in question is already let on a tenancy agreement and potentially can be bought at a lower price.
Deposits are rarely high enough to cover damage caused by outgoing tenants and the cost of legal action against someone who probably has no money makes it not worthwhile.I know this from personal experience.