Source: (1) Top tips for landlords and international students in London’s rental market | LinkedIn
At the start of summer, international students in their thousands begin searching for a property to rent in London. Many have never lived away from home before and navigating the process of finding somewhere isn’t always easy.
Meanwhile, landlords who’ve previously let to corporate or family tenants might see themselves letting their property to a student for the very first time.
As the student search period kicks in, here are my top tips for landlords and tenants entering the student rental market:
Tips for landlords:
- Student lets could mean longer tenancies: Some landlords may have let to students before, others could be making their foray into the student market for the first time. In doing so, as well as opening up the property to a much wider pool of tenants, it may result in a three-year tenancy too as some students want to secure a place to call home for the entirety of their degree. Landlords of new builds will find that they are especially popular, both from a maintenance and security perspective as parents will often stipulate a porter or concierge as being a non-negotiable.
- Think about including a cleaner in the rent: Enrolling at university may be the first time in a student’s life that they have lived independently. Over the years, we have seen a number of landlords opt to include a weekly or bi-weekly cleaning service within the rent which can often be a great help as the tenant settles into their new living and studying arrangements in the UK.
- Make sure it’s furnished: Almost all international tenants will want a furnished property so it’s important that a landlord kits it out in advance. I’d always advise going for quality furniture as not only will it stand the test of time but it is also likely to make the property more appealing. Tenants will often be keen to make a house a home with artwork or plants and will provide their own bedding and kitchen utensils/equipment so a landlord won’t need to include this as part of the tenancy.
Tips for tenants:
- Register early and keep in regular touch: Given the volume of students coming to study here, registering and staying in contact with a lettings agent is essential in order to stay ahead of the competition. That way you’ll receive updates on new instructions as they hit the market, and by popping in or speaking with your agent regularly, they will know you are still keen to secure a property. Many students will begin their search from as early as June onwards – even if they aren’t planning to move to London until the autumn – as they’ll want to get used to their new surroundings before returning for the start of term. Timing is vitally important – so make sure it’s on your side.
- Have someone in the UK who is available to view: The introduction of virtual viewings during Covid continues to act as an essential house-hunting tool but we do require someone to conduct an in-person viewing on a tenant’s behalf before a landlord is presented with an offer. This physical inspection is key because it provides an in-depth view of every aspect of a property in a way that virtual tools simply can’t.
- A property should be taken as seen: It’s important to remember to take a property as you see it and that if you want something to be updated, speak to the agent. Unlike in other global cities, London landlords don’t usually refresh a property between tenancies as a matter of course. So if you want anything changed – make sure you ask.
- Family matters: A tenant may be the first of their family to come and study in the UK but not the last; we regularly see siblings follow their elder brother or sister to London one or two years later. While a one bedroom apartment may be the immediate requirement, taking a slightly longer-term view to account for any siblings moving in the future as well as parents or relatives who’ll be coming to stay might mean that renting somewhere with two bedrooms will save the need to move again at a later date.
- Utilise your agent’s local area knowledge: Moving to a new city can be daunting so tenants will tend to look for somewhere close to their place of study. We often have students looking to live four or five streets away from their university which significantly reduces the number of properties that might be available to them. I’d always advise a tenant to ask their agent about travel times, routes and alternative areas with a lifestyle they might like; London’s transport system and walkability means that sometimes a property slightly further away can work extremely well.