Student property summer tips
12th July 2016
Some student properties are secured 9 months before the academic year, some are last minute – Why is this and what can landlords do to rent their houses earlier?
So it’s turnaround time of year with thousands of students moving in and out of properties and the best time to get your house back up to scratch and make any improvements necessary before the viewings start again in January!
Here at MTM, with over 12 years of experience in the student and professional lettings market, we would like to offer some tips for landlords who are, or are thinking of, renting a property to students:
Keep it basic
Students need a blank canvas. Neutral and minimal décor is best so that they can add their character to each individual room, often with family memoirs and nightlife schedules! They need furniture too. It need not be trendy or high end but, ideally, at least not unfashionable. Also check desk drawers and chairs, often a cost-free screwdriver can fix things up in no time!
The costs of decorating and furnishing a buy to let can add up, but a quick touch up doesn’t need to be a big hit to your budget. Store neutral paint pots in the loft or nearby and re-touch tired looking walls in between tenancies. A lot of properties in the south coast also incur paintwork damage and need regular window-cleaning. If your budget allows, a quick spruce up on the outside can also make your property stand out.
Add a funky feature
In the last few years we have seen a number of our landlords add that special touch to make their property stand out. Simple things like a bright coloured splashback or smart vinyl floor can make all the difference. Add some life to your property and you should find this will assist you in getting the house let.
Make it shine
A clean property will appear in a better state of repair, making it far more appealing than rival properties to tenants. Especially in viewings, cleanliness is key. Tenants won’t be expecting a palace, but ensure it is spotlessly clean. If there’s condensation on the windows or a mouldy shower, get rid of it. If the kitchen and bathroom aren’t shining, make them. Most property managers will ensure that our cleaners are up to scratch, but if you are attempting to do it yourself, ensure it is up to standard. People want to rent homes that are light, bright and clean so a properly done turnaround can make a big difference. In our experience tenants who secure the best and cleanest houses are more likely to keep it that way.
Remove the old and replace with the new
I cannot count the amount of old gas fireplaces or blue carpets I have seen in my time. All I can advise is to GET RID OF IT. Neutral and modern does not need to be expensive and will make a huge difference when renting your property and getting the best price.
Make your agents count
You need to be confident that your letting or managing agent is adding value. Is maintenance being monitored throughout the year for fully managed properties? Are potential improvements being communicated to you? Is there a way you can both reach a compromise on your budget? And are the marketing photographs professional and accentuate the property features?
Our team at MTM has spent years mastering the art of efficient turnarounds and touch ups between tenancies. If you would like to enquire about our full management packages, please call us today on 01273 645797.
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