Tips For Renting To International Students.
June 12, 2015
BRITISH universities are experiencing a boom in foreign students, with the number of international students coming to the country to study having soared by 67% in 10 years.
With the percentage of overseas students at British universities expected to rise from 15 per cent of all students in 2008 to 21 per cent in 2018, this influx presents a real opportunity for letting agents to capitalize on.
But this new chance at a wider tenant base comes with its own set of issues.
First, overseas students are less likely to be able to visit a property before signing a tenancy. We are increasingly seeing agencies use property videos and even the current darling of the tech world Periscope to give guided tours around properties.
Secondly, although they may good at hitting the books, do they know their mould from their mildew? And more significantly, when it comes to their responsibilities, will they understand what you’re talking about?
Ensuring that you’re speaking the same language as your tenant when it comes to reporting problems and repairs is the best way to get ahead in this market. One of the major problems with letting to students, particularly international ones, is a disconnect when it comes to communications. You need to make it crystal clear to your tenants exactly what their responsibilities around the house are, regardless of their nationality.
Fixflo’s online reporting system is available in over 40 languages and lets tenants know exactly what they are responsible for fixing, so you won’t be bothered with calls about changing lightbulbs. It also provides simple self-help steps to fix basic problems so tenants all around the world can be part of their own solutions. A tool like this can prove invaluable to international students who may think that even a basic instruction manual reads like double dutch!
Obviously there are a number of other things to consider when it comes to deciding to enter the student letting market like late night check-ins after they arrive at the airport. Our point is simply that if you do decide to get into this market, don’t be put off the international quotient. In this instance, it might just pay not just to go local…
If you’re a landlord in the student lettings market find an agency in your area who has invested in a Fixflo system to maintain your property more effectively.
You May Also Enjoy
Housing sales end 2024 on a high, but buyers more cautious about how much to pay for homes as mortgage rates drift higher
Buyers and sellers returned to the market over 2024 building a sales pipeline 30 per cent larger than a year ago with 283,000 homes worth £104bn progressing to a sale in 2025. This is the largest end of year total value for four years. House prices have returned to growth with the average house price…
Read More 
£21 million to live on UK’s most expensive street
· Knightsbridge in London now the priciest UK street · The UK’s 10 most expensive streets all in the capital, with an average price tag of £16.5 million · East Road in Weybridge the most expensive address outside of London · Priciest UK properties are 60 times more than a typical home Lloyds has revealed…
Read More 
Breaking Property News 20/12/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Why estate and letting agents must embrace innovative technology in 2025 As we step into 2025, the UK property market continues to shift, and estate agents face mounting pressure to meet the evolving expectations of buyers and sellers. The days when static images sufficed…
Read More
Breaking Property News 19/12/24
Daily bite-sized proptech and property news in partnership with Proptech-X. High street Auctions’ initiative launches to revive Britain’s town centres This month the UK Government rolls out its highly anticipated ‘High Street Auctions’ scheme, a flagship measure of the Levelling Up and Regeneration Act 2023. This initiative grants local authorities the power to take…
Read More 
Moving Up In The World: Finding Your Dream Home
Finding your dream home is one of life’s most exciting and transformative experiences. Whether you’re looking to upsize, relocate, or finally purchase that ideal property you’ve always envisioned, the journey is both thrilling and filled with important decisions. As you embark on this path, it’s essential to plan carefully, consider your priorities, and approach the…
Read More 
These cities are the keenest to move house in 2025
Bournemouth is the keenest area in the UK to move home, with 38,132 average monthly searches for moving-related topics per 100,000 residents. Plymouth is second, with 35,198 average monthly searches for moving, and Birmingham is third, with 35,181. Derry is the least keen area to move house, with only 3,170 average monthly searches related to…
Read More