We've rented 600 student HMO bedrooms across Leeds in 9 months. Here are five things every landlord should do to increase the chances of securing a tenancy on first viewing:
1. Offer bills included in the rent
Students value convenience and don't want to be dealing with energy companies or chasing friends for money. There are now companies set up to specifically deal with student utilities. If you don't offer this in the rent, you're miss out on countless groups/huge marketing opportunity.
2. Try to configure a property so there's at least one shared bathroom between two tenants
Renting to six people? Have three shower rooms. This is a game changer for larger student houses and much cheaper than installing ensuite bedrooms.
3. If there's outside space, make use of it!
Install decking, built in garden furniture, BBQs or pergolas with hanging lanterns, and make sure to take professional pictures of the space for marketing.
They might only use it a few days a year, but when they're viewing properties it's a great way to offer a USP and stand out from the crowd.
4. Location
The closer to the bars or uni campus the quicker a property will rent.
If your property is farther out think about creating a USP. Set in a big plot? Offer lots of off street parking. Have a garage? Convert it to a cinema or games room.
Think creatively from a sales POV to compete against those offering better positioned locations.
5. Decoration
Have a planned maintenance schedule to repaint areas of high use every year before the next letting season starts. Hallways, kitchens, living rooms. And yes, this should be done every year!
Get these five things right and you should have no concerns about occupancy levels at your property.
