If you are considering letting to students, Heywoods are the people to talk to and Newcastle-under-Lyme is the place to do it.
With Keele and Staffordshire universities and Royal Stoke's teaching hospital on the doorstep, there is a substantial market to be tapped.
With the right property and help from Heywoods, student lettings can be a great investment:
- Student lettings produce a high yield: there is strong and consistent demand for good student property, and tenancies last for 10-12 months.
- Tenancies generally start in August or September, with students looking for property from January. Your property is likely to be empty during the summer so you carry out any maintenance while still bringing in an income.
- Student lettings are generally fully furnished. Take into account that there may be more wear and tear in student lettings. You need to provide:
- Carpets, curtains and lampshades
- Desk and chair for each room
- Washing machine
- Fridge freezer
- Vacuum cleaner
- Lawn mower
- Choose a property with at least three large bedrooms, good communal living space and, ideally, a garden. Make the most of your property by turning any dining room into an additional bedroom. Properties that are within walking distance of the university or a town centre and have good transport links and amenities will be in high demand.
- As students do not generally have a regular income, you will need a guarantor for each student tenant. This is usually a parent or guardian, the guarantor will themselves be referenced and is responsible for the rent if the tenant fails to pay.
- You will need to decide whether each student has their own tenancy agreement or whether you let to a group. There are additional requirements on landlords letting to multiple occupants and a local authority licence may be required. The lettings team at Heywoods can offer advice on this.
Heywoods offers a range of management services for your rental property. Our team of local experts are always on hand to offer help and advice. Click here for more information.
Looking for the perfect student letting? Take a look at the properties Heywoods has to offer.