Student lets are a 'predictable market'

News Category: Legal

While the market for student rental property is relatively stable and safe, landlords still need to take some precautions, an industry expert has warned.

Chris Town, a spokesperson for the Residential Landlords Association (RLA), explained that student rentals represented a "predictable market" for letting property owners because "you've got them for at least a year".

Equally, Mr Town pointed out: "You know when they're going to leave as well, at the end of June - so you can plan maintenance or any improvements you might have to make to get the licensing and so on."

However, Mr Town added that new regulations, like the tenancy deposits scheme, were changing how landlords had to approach student lettings.

"I think the main impact from tenancy deposits has been the inventory... The deposit hinges on the accuracy of these inventories," he explained.

"Whereas in the past you would say: 'Chair, table, sofa - average condition', you now have to be very specific in case there is a dispute over the condition of something at the end of the tenancy. That's caused quite a lot of headaches for landlords.

"It's been a bit of a shambles, the providers have not really been geared up for this legislation coming in.

In addition, Mr Town said that the new regulations for licensing meant that the market for student lets was in "quite a lot of turmoil in the market at the moment".