At Cobblestone Estates we are local experts in the high yielding but complex area of Student Lettings. We are the leading professional Student Letting Agent in Medway.
We are fully accredited with Medway Council, London and Kent Landlords Accreditation Scheme and a member of the ARLA Propertymark.
We hold ARLA Propertymark scheme CMP and are members of the Property Ombudsman.
You can trust us to provide you with a safe and professional service.
Our managed service offers tenants our online maintenance reporting system via Fixflo, this ensures that all repairs are dealt with efficiently and compliantly. click for more information.
We market all our student properties on the top online portals Rightmove for Students, Zoopla, Prime Location and On The Market.
We use ARLA approved Payprop which offers all our Landlords same day payments of rents, secure unrivalled client account protection and transparency.
Contact us if we can assist you in marketing and managing your property in this specialised market. We can also offer advice and assistance in acquiring your ideal student let investment.
Letting to Students
Letting to students can be an excellent option for landlords when you consider the higher yields.
However, when you rent to students, there are some specific considerations that are unique to this market, advise from an expert is recommended. Contact Cobblestone Estates for more in depth advise.
Student Properties tend to suffer more wear and tear when let to students, and as a result you are likely to spend more on maintenance at the end of a tenancy than you would with a traditional let. In addition, most students will expect properties to be fully furnished.
When it comes to marketing your property each area will be different, but in general students will start looking any time from January for lets starting in the next academic year (August/September). Students will expect to find properties online on the main property portals such as Rightmove and Zoopla.
To be suitable for renting to students, you should ensure your property has a minimum of 3 bedrooms, large communal areas (lounge and kitchen) will appeal particularly to students. More than one toilet or bathroom will be a great additional selling point, en-suite rooms even more so as will a garden. And obviously, choose a location within walking distance from the university campus.
Student lets should be marketed in the same ways as traditional lets. You should expect your agent to list the property online on the likes of Rightmove and Zoopla, and also be proactively contacting local tenants. In addition, universities will release lists of approved rentals, and you should ensure your property is on that list. A good local letting agent like Cobblestone Estates will have a relationship with universities.
When you have found your student tenants you need to carry out checks to protect your investment and compliance and legal matters required by law. Student tenants can be difficult to reference using the standard process, because they do not have a regular income and have usually come straight from living with parents. Instead, you should seek a guarantor for each student tenant. Usually a parent or guardian, the guarantor will themselves be referenced and is responsible for the rent if the tenant should fail to pay. Drop outs can be high meaning you could have an empty room that is difficult to fill at certain times of the year, you need to be prepared and take this into account when working out the sums. Make sure your Agent is a member of ARLA as they will be up to date on the latest legislation and legal requirements.
Student tenants will expect the property to be fully furnished. Here’s a minimum standard tick list for landlords who want to let to students:
- Washing machine
- Fridge freezer
- Desk and chair for each room
- Vacuum cleaner
You are likely to be letting to sharing occupants (ie. not a family group) so you will need to comply with rules around Houses in Multiple Occupations (HMOs).
We can help with student lets
Whether you just want us to help you find the student tenants, or you’d like us to manage the whole let, we’re ready to help you. Because we have expertise in both residential sales and lettings as well, we can even advise you on the best properties to purchase if you’re taking the first steps into student lets.