Tips for Landlords for Renting To Students

Posted on August 9th, 2008 | by John Glenn |

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There are some useful tips for landlords to go through before letting their rental property to students. When landlords set their mind to rent property to student, it is wise to look for an inventory or schedule of condition. Through Internet mode, they should collect the ‘Inventory, Schedule of Condition and Safety Check List’ which must include the details regarding rental property, contents, decoration and condition. By doing so, the landlord can claim for the damage or loss happened during the tenancy period.
The safety area must contain number of heat alarms, carbon monoxide alarm, Landlord’s Gas Safety Certificate, Portable Appliance Test certificate of the Landlord’s electrical goods and burglar alarm. Landlords must put ‘cleaned to better standard’ on the rooms in the inventory with clear statements so that it would not create any confusion afterwards.

The next thing for landlords to make out is a checkout leaflet in which they should outline the procedures and expectations at the end of the tenant period. Give one copy to the students and keep the other with them at the beginning of the tenancy. Landlords should make out a duty of care including a safety check of their buy-to-let property. Household folder with relevant information is also important. It should contain exit and entry in the premises, both party’s responsibilities, health and safety, electrical safety, nuisance, cleaning, neighbor’s scuffle, landlord visits and lots more. Security deposit and tenancy deposit scheme should be avoided by the landlords.

Landlords should buy 24-hour emergency insurance cover for plumbing and electricity. They should equally focus on those insurance companies which include the coverage such as dripping taps. The student numbers, email address and other relevant information are important to be kept by the landlords.

Letting a property to students, family or any homeless people is a great way to earn some extra money but before letting any one enters into your apartment, it is better to conduct thorough background check of would-be-tenant.