Why should I let to students with MiDigs?
There are three reasons why letting to students can often be more profitable than traditional lets:
Demand and competition in student areas is strong and consistent.
Students will usually look to rent for a minimum of 12 months, meaning less stress for you finding new tenants.
Student lets tend to offer particularly high yields.
Are there any draw backs?
Properties tend to suffer more wear and tear when let to students, and as a result you are likely to spend more on maintenance at the end of a tenancy than you would with a traditioal let. In addition, most students will expect properties to be fully furnished.
When is the best time to market my property to students?
Each area will be different, but in general students will start looking any time from January for lets starting in the next acadeic year (August/September).
Which properties are suitable for students?
A property with a minimum of 3 bedrooms and large communal spaces (lounge and kitchen) will appeal particularly to students. More than one toilet or bathroom will be a great additional selling point, as will a garden. Choose a location within 30 minutes walking distance from the university campus.
Is there any special legislation to consider?
You are likely to be letting to sharing occupants (ie. not a family group) so you will need to comply with rules around Houses in Multiple Occupations (HMOs).
MiDigs specialise in student lets.
Whether you just want us to help you find the student tenants, or you’d like us to manage the whole let, we’re ready to help you.