How to Convert Your Property into a Student Let
With the current climate, turning your home into a student let property can be a smart investment. Cities or towns that are home to universities are often riddled with students. Students are always in need of a student house close to their campus as they tend to move house every academic year.
Letting a property to students means becoming a landlord to some interesting characters, so architects Wigan suggest making sure you’re really up to the challenge before you take on the project.
Make it Suitable for Students
Are there enough bedrooms? Bathrooms? Does everything run appropriately, such as the plumbing and electric? All these questions are things you need to consider when converting your property to be suitable for a student resident.
Architects Wigan suggest thoroughly looking into what student expect from a student let property. Basics like furniture, bills included and other types of amenities need to be considered. A lot of student lets include furniture that’s considered to be the necessities, such as beds and mattresses, wardrobes, sofas, tables etc., so this is something you need to think about including in your home for it to be suitable.
Advertising your space in as many mediums as you can one of the most essential steps to letting your space. Think primarily of advertising online, as most students will search there for their new pad. Using sites that are made for advertising property, such as Rightmove and Zoopla as they are easy to use and are the most popular.
If your property is close to other uni flats, think about posting a sign on the window of the house advertising your space for students. Add your contact details like phone numbers and emails so they can get in touch with you easily.
Think About Rent
Architects Wigan also advise to keep the rent down in price, as a student won’t be able to afford any inflated rates due to being, well, a student. Keep down the price, and you’ll be popular among all students!
Research the rent quoted by other student let houses in the area to get a general idea of what to charge, and even what they include as it gives you a good idea of what’s expected of your house. If your house isn’t near any local amenities that will make your property desirable, consider lowering your rent price and adding better facilities in your home to make your property more desirable.
Think About Hiring a Real Estate Agent
Thinking of working with a real estate agent on advertising your property can be a more accessible route if you’re not too sure where to start. A lot of Estate Agents will know precisely what a student wants and needs from a student let and will have worked with many students in the past in finding their own student house or flat. You can use their knowledge to your advantage, as they know what to do regarding advertising.
They may even be able to find student tenants faster than you, due to their contacts and position. This is obviously beneficial for you, especially if you find yourself too busy to sort out all of the letting details.
Speak to Your Architects Wigan Today
Fairtech Contracting LTD has a wide variety of blogs available for your perusal, so don’t be shy to have a look around. If you need any advice on how to convert your house regarding additions or extensions to your home, then contact Fairtech Contracting LTD on 0151 321 1986 now.