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  • Student Accommodation

    To what standard are you doing student lets?

    The more I've been thinking about my lets the more imho students are looking at their room and the house as a whole as a hotel.

    As we've all stayed in hotels I think it's safe to say we expect quite a lot more now than we did say 10 years ago and I was thinking most of it is quite cheap/easy to provide eg: television in lounge (with tv license of course) coffee maker in the kitchen nice quality leather sofas can be picked up 2nd hand with the appropriate fire safety label on for not much £££. etc. etc.

    So for those of you that have student lets, what do you provide and want won't you provide - reasons why for both of course! Cheers

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    Hi
    I have 12 students lets of my own and manage 8 others for other landlords. Students are much more discerning these days and it def helps to make the house look good.

    I provide rooms with a fixed rent and bills package which includes broadband and sky TV. It def helps as the students much prefer an all in price.
    I provide good quality, clean, beds and mattresses, desk chair, wardrobe and chest of drawers, all nice and matching. Its not expensive, IKEA Malm furniture is spacious strong, attractive and cheap. In the living room I provide two sofas, coffee table and in some a TV, its cheap enough to add on a TV package with the broadband these days.
    In the kitchen is kettle, toaster, microwave, washing machine and two large fridge freezers or one large american style fridge freezer.

    They also like locks on their bedroom doors.
    Some mortgage lenders are not keen on students but my financial advisor always comes up with good deals for me, if you need a number def try Rebecca Read on 07856 182 929
    Hope that helps.
    Joanna
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    Joanna,

    I am a residential landlord looking to expand to student property. How would you reccommend that I assess the value of the deal aside from the financial aspects?

    Andrew

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    "IKEA Malm furniture is spacious strong, attractive and cheap."


    You might want to rethink here Wink


    Link: https://uk.yahoo.com/news/ikea-reissues-...32895.html


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    Thanks for your info Joanna - seems like I'm going all the right route and I'm already doing most of what you are eg. Ikea furniture etc.

    How have you come up with figures for the utility bills by the way as I can always see this being an area for wastefullness?

    Anyone else any thoughts?
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    I budget £50 per room which broadly seems to work inc broad band. I increase this to £60 if I provide TV.
    I have a few houses which i rent out room by room to young professionals and I include council tax as well. The packages seem to be very attractive.
    Joanna
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    Thanks for the figures Joanna, no-ones really been able to provide them before, at least not in a student HMO type environment.

    Much appreciated as it gives me food for thought.

    Regards.
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    I've five student properties and I keep them quite smart on the principle that the students will look after things better than if things are already tatty.

    I don't include bills, as I'm not sure how I'd cover variable bills like gas and electricity. If they see it as free they're more likely to use far more. My letting agent sets them up for all utilities before the tenancy starts and ensures the accounts are closed at the end.
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    Baz,

    Whereabouts do you have your student properties? How long have you been investing?

    Andrew

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    Can include bills and use Glide - fair usage policy in the AST.

    One bill with Glide, they can do gas, water, electric, WIFI and TV License!

    Its brilliant!

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