General (main property discussion here) - Student Lets

Has anyone had any bad experiences with student lets?

I have seen one opportunity for sale but haven't ever ventured into that market. Are they a sensible option or should I stick to what I know?

Surely if a uni is letting it off you then you are in a fairly solid position? They must keep the reigns tight on the students as far as too much damage caused, no?

I see a previous post about burns on the carpet from cigarettes... is this just about all I will likely have to put up with?

The money you will make will far outway the burns in carpets, students are great earners cant go wrong.

Alex

alex@oakhillmortgages.co.uk 0870 064 1111

Must agree, students are usually a very reliable source of rent.

Their parents usually pay rent and the deposit. Try telling father the deposit is being withheld due to excessive partying!

There are bag eggs so judge each on merit.

Agree with the points above but also it seems that yields in this market seem to have come down a lot? Used to be 13% now c. 7%! Have other people noticed this?

Owen

I have acquaintances who almost always keep the majority of the damage deposit, since there is a little work to be done.

Bear in mind most of it is cosmetic that requires little work. Haven't ventured there myself yet, waiting for the right inroad.

mark

I haven't bothered myself - imagine voids for 2+ months of the year - no thanks! Or do you guys fill during the summer months too?

John

You all seem to be missing the point here, you keep harping on about voids what voids. a single family renting a 3 up 2 down in my area the most they would be paying is say £500pm X 12 = £6,000. Where as 4 student sharing for 44 weeks at £60 each = £10,560 please please show me where the void is in that. And the above house would only cost 95K. You have to look at the house and get maximum rent and that is multilets.

Alex oakhillmortgages.co.uk 08000 19 22 55

p.s. student pay all there own bills.