renting-to-studentsIs renting to students really worth it?

We believe at Student Housing Lincoln that renting to students can be one of the best things for landlords.

As property investments go, renting to students is one of the less risky options. This is mainly because there is high demand for student accommodation especially in a university city like Lincoln.

Usually, the students’ parents will act as guarantors. Parents are willing to sign up to leases for the entire year, and they are willing to pay a fair price for a good property in a good area.

The shortage of decent accommodation also means that tenants like to reserve the property several months before they actually move in, guaranteeing you income (and peace of mind) for the coming year.

There is also very little chance of demand drying up. We at Student Housing Lincoln have lived here, studied here and run our business here. It is a great city that is still expanding! As long as the university continues to exist, so will students needing homes. Often, private halls of residence are the most expensive accommodation so students will be looking for cheaper housing, which is where renting to students is most effective.

The length of the let depends on market conditions. In high-demand areas of the city students will pay full rent all year round, no question. The extra income from the summer months can be very helpful for landlords when renovations need to be done.

The main deterrent for landlords is the cost of the Houses in Multiple Occupation licence. This is mandatory for properties of three stories or more, or five tenants or more. This five-year licence is free for Lincoln currently, and nothing has been set in stone by the council to do with this.

Student housing is an easy sell, especially if you become accredited by the university. Student Housing Lincoln will help you in this process of renting to students to make it easier for you in the long run – so call us on 01522 410 646