Renting to Students: What Landlords Need to Do Differently

Renting to students can be a lucrative and reliable income stream for landlords, particularly in towns and cities with large universities. Demand is often high, void periods are predictable and student properties tend to deliver strong rental yields, especially when let on a per-room basis.

But letting to students comes with its own unique set of expectations, responsibilities and risks. Here’s what you need to do differently to succeed in this market.

Renting to Students – Tips Understand the Academic Rental Cycle

The student rental calendar doesn’t follow the traditional letting pattern. Most student tenancies begin in July or August, with the academic year starting in September. However, students often start looking for housing as early as January or February.

Tips:

●      Market your property well in advance.

●      Ensure availability aligns with academic terms.

●      Consider 12-month contracts to cover the summer gap, or ensure you set the rent at a level so you are not out of pocket when your tenants leave at the end of the academic year.

Be HMO-Compliant (If Letting to Multiple Students)

Many student lets fall under the category of Houses in Multiple Occupation (HMOs). If you’re letting to three or more unrelated students who share kitchen or bathroom facilities, you may need a licence.

HMO requirements may include:

●      Fire doors and escape routes

●      Hard-wired smoke alarms

●      Annual gas safety checks

●      Electrical installation condition reports (EICRs)

●      Adequate space and amenities per occupant

Tip:

Check with your local council. Many cities with large student populations operate additional or selective licensing schemes beyond the national HMO rules.

Provide Fully Furnished, Ready-to-Go Homes

Unlike professionals or families, most students are moving away from home for the first time and won’t have their own furniture. A fully furnished property is essential.

Must-haves include:

●      Beds, desks and chairs in each bedroom

●      Sofa and dining table in communal areas

●      Fridge/freezer, oven, microwave, washing machine

●      Vacuum cleaner, bins and basic cleaning tools

Tip:

Choose durable, low-maintenance furnishings and ensure the property meets fire safety standards for upholstered items.

Make Maintenance and Safety a Top Priority

Students may be less experienced in reporting issues or identifying minor problems before they worsen.

As the landlord, it’s important to:

●      Carry out regular inspections (with proper notice)

●      Offer clear channels for maintenance requests

●      Ensure all safety checks are up-to-date (gas, electrical, smoke alarms)

Tip:

Consider using a property management company if you’re not local or prefer hands-off management. Student lets can be high-maintenance.

Offer Group Tenancy Agreements

Students often rent in groups, with friends sharing a house for the academic year. A joint tenancy agreement is usually preferable, where all tenants are equally liable for the rent and condition of the property.

Advantages:

●      If one tenant drops out, the group remains responsible

●      Reduces risk of rent arrears

●      Easier to manage than multiple individual agreements

Tip:

Require parental guarantors for each tenant to increase your financial security.

Expect and Plan for Higher Turnover

Most student tenancies last for one academic year. You’ll likely have to market the property and vet new tenants annually.

To minimise hassle:

●      Conduct end-of-tenancy inspections promptly

●      Schedule any refurbishments in the summer window

●      Begin marketing early in the calendar year

Tip:

Offer small incentives to encourage existing tenants to renew, like including bills or offering a modest discount on the rental price.

Be Clear on Rent, Deposits and Bills

Student renters appreciate simplicity. Many landlords offer all-inclusive rents covering utilities, internet and sometimes a TV licence. This can be a big draw for tenants worried about budgeting.

You’ll also need to protect their deposit in a government-approved scheme and provide the appropriate documentation at the start of the tenancy.

Tip:

Use a clear welcome pack outlining rent due dates, emergency contact info and property rules. A bit of guidance goes a long way for first-time renters.

Consider Wear and Tear Realistically

Student homes may experience more wear and tear than regular rentals. With more tenants, more parties and often less experience in home maintenance, it is easy to see how it happens.

Tips:

●      Conduct a thorough inventory at check-in

●      Take dated photos and have tenants sign it

●      Budget for annual touch-ups to paintwork, carpets or furnishings

Renting to Students? Talk to Us

Our property management service takes the admin from your shoulders and ensures your tenancy agreements, renewals, checks and maintenance are all completed on your behalf in a professional manner. You can concentrate on your other tasks, whilst we make sure your student property is a success. If you are thinking about renting to students, talk to us today.