Student Landlords – Renting to students with YOUR MOVE
Find out how YOUR MOVE can help you rent to students, whether you are an existing student landlord, looking to let to students for the first time or considering your first buy to let investment.
We have the formula to help you make your student let a success
Purchase – Looking to purchase a property for your student let? We’re a one-stop-shop for all your property needs and can offer advice on a range of buy-to-let mortgage products^.
Market – We know how to market to the Facebook generation. All our student properties are listed on the top property portals, and we have the most visited estate agency website in the UK*.
Manage – We have a range of lettings options, from tenant find only, to fully managed rental.
Protect – Our rent indemnity protection offers complete peace of mind. If your tenant defaults, the policy covers 90% of the monthly rent for up to 6 months.
The result?
We harness the strong demand from students to secure you high yields and longer rental periods. You have guaranteed peace of mind knowing that your investment is protected.
Are you an existing student landlord who wants more from their agent?
If you are already a student landlord, you’ve recognised the advantages that letting to students can offer - Now let us show you what YOUR MOVE can offer you.
Alongside finding you student tenants and managing the paper work, references and guarantors we offer property management packages that can free you from the day-to-day tasks of running your rental.
We now also offer a Rent Indemnity & Legal Cost Insurance package which can provide you with the peace of mind and protection to ensure that your rental income is safeguarded.
With a network of estate agents across the UK and an award-winning^^ brand we want to share our letting expertise with you.
Want to let your property to students?
At YOUR MOVE Lettings we’ve recognised the potential of letting to students – but have you?
- Student lets can offer landlords a higher source of income than traditional lets.
- Students can provide year-long tenancy agreements, which means that you don’t have to worry about finding a new tenant every six months.
Are you a first time landlord? Have you thought about letting to students?
Buy to let investments can be an exciting project and letting to students can be a great way to maximise the potential rental yield of your investment. Here at YOUR MOVE we can provide you with all that you need under one roof to help you become a student landlord.
- Sourcing suitable properties for sale
- Mortgage adviceŦ
- Tenant find service and management
- Protection Products including Building & Contents Insurance and Rent Indemnity & Legal Cost Insurance
FAQ's
Q: When is the best time to market my property to students?
A: Students start looking any time from January for the forthcoming academic year. Each area will differ so speak to the local branch for their recommendations - on average this needs to be at least 3 months before occupation.
Q: What is the difference between letting to professionals or students?
A: With students:
i) Generally a higher yield although possibly a higher level of wear and tear.
ii) Knowledge and comfort of 11 month let with a waiting list of tenants for the next let.
Q: Is my rent guaranteed?
A: It can be with our Rent Indemnity & Legal Cost Insurance. (Terms and conditions apply)
Q: How much deposit is taken from the students for breakages and wear and tear?
A: YOUR MOVE policy is to take a security deposit equivalent to 6 weeks rent (this may vary slightly from area to area) to be held against damages and unreasonable wear and tear.
Q: What happens if my tenant doesn’t pay?
A: It is sound practice for the Landlord to insure himself against non payment of rent – YOUR MOVE offers a bespoke policy which insures up to 6 months of rent and £15,000 of legal costs amongst other features at a low monthly cost.
Q: Are all properties suitable for student lets?
A: No not all properties are suitable for student accommodation, please get in contact with your nearest branch (insert link to contact us) and we can discuss your options.
Q: Is my buildings and contents insurance affected?
A: You will normally require consent from your insurer so please check with your insurance company.
Q: Are properties let to students classed as Houses in Multiple Occupation (HMO)?
A: Each area is different, check with Local Authority and HMO officer.
Q: Will the property be inspected during the tenancy?
A: If you have our Comprehensive service we will make 2 routine visits during an 11 month tenancy. We could carry out more if you require it for a small fee for each extra visit.
Q: What type of property can be used for student lets?
A: Minimum of 3 or more bedrooms, the house should have good size bedrooms, kitchen and a communual lounge area. The accommodation should be of a reasonable standard and be in a good presentable condition to obtain maximum rent.
Q: Do I need to advise my mortgage company?
A: Yes, you must gain consent to let from your mortgage company.
Q: How many sets of keys do I need to provide?
A: One full set for each tenant and one full set for YOUR MOVE if you have taken out the Comprehensive service from Your Move.
Q: How much furniture is required?
A: A basic level, further information can be found under the Furnish tab.
Q: Who pays the rent and how is it paid?
A: The tenant(s) by monthly standing order mandate.
House in Multiple Occupation - (HMOs)
Some properties let to sharing occupants (i.e. not a family group) can be classed as a House in Multiple Occupation (HMO). These properties have to comply with stringent legal regulations regarding fire safety and facilities supplied.
The regulations are imposed by the Local Authority and therefore there will be differences between Local Authority areas. For example, some Local Authorities require HMOs to be registered, for which there is a fee, and some Local Authorities class properties with 2 or more tenants who are not related as HMOs.
You may also require planning permission if your property was previously used for ‘normal’ residential use.
Your nearest YOUR MOVE Lettings branch will have full details of these regulations for your Local Authority.
Furnish?
Student properties will require a fairly good level of furnishings. Listed below is YOUR MOVE’s suggested level of furnishings to provide to your student tenants:
- Washing machine
- Fridge freezer
- Cooker
- Carpets/curtains/lamp shades
- Wardrobe
- Beds
- Desk and chair for each student bedroom
- Sofa
- Table and Chairs
- Vacuum cleaner
- Lawn mower and tools
- External rubbish bins
Your nearest YOUR MOVE lettings branch can provide more information and assistance when furnishing your property.
^ For mortgage advice our initial consultation is free, however we do charge a fee for administering your mortgage application. The precise amount will depend upon your circumstances however we estimate that it will be £399.
^^ Your Move are winners of numerous Sunday Times awards for Sales, Lettings and Financial Services.