As a landlord, you may want to look at renting properties to students, and look at all of the varying factors, including rent prices, and landlord insurance.
There are many factors to consider when buying a property for this purpose, such a location, how many sharers and any licensing issues. The number of sharers is important to consider, as this affects the licencing requirements by the relevant councils. Some councils require all buy to let properties to be licensed, other councils advise that houses shared by three to five tenants, unrelated, need to be licensed, and for all homes shared by six or more tenants a licence is required.If you are wanting a buy to let property aimed towards students, the location is of great importance. Properties need to be within walking distance of campus, and generally within a good distance to transport links and social areas.The student renting market continues to grow, and this is sure to be another factor for consideration. There is, however, a greater deal of regulation than with a standard buy to let property. Because of the demand in student accommodation, rents have grown 10% in London, and 8% throughout the rest of the UK, another reason to look into student renting. Many areas of rental accommodation for students has failed to keep up with the demand, so it is worth remembering that within the current climate UK weekly student rent continues to grow.
As a landlord, it is important to remember that any properties rented to students may be empty over the holiday periods, so it is also important when looking for landlord insurance that you are looking for the right cover, ensuring that if the properties are going to be empty for periods of time that your policy covers this. Finding the right landlord insurance when renting to students is essential, as not all insurance companies are keen, so ensure that you give all of the relevant information to the broker when searching for cheap landlord insurance.