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
England tightens planning rules to save local pubs
Turning pubs into housing or offices will be made harder as part of changes to government planning rules in England. Under the updated National Planning Policy Framework (NPPF), anyone seeking to change the use of a beloved local venue must now provide strict proof that the business cannot survive, including evidence that it has been…
Read More 
UK modern method auction house sales up nearly 15%
UK house sales via modern method auctions increase nearly 15% year-on-year New data from leading estate and lettings agency network shows growing appetite for modern method auctions, with completion times 43% quicker on average versus traditional methods Modern method auction (MMoA) sales are gaining ground in the UK housing market. New data from Lomond, the UK’s leading network of lettings and sales…
Read More 
London’s garden squares commanding huge market premiums
The latest research by London lettings and estate agent, Benham and Reeves, has revealed that homes surrounding some of Prime London’s most prestigious garden squares continue to command huge values even in cooler market conditions, with buyers paying property premiums as high as 175% compared to the wider borough. Wilton Crescent Garden, located on the…
Read More 
Full Steam Ahead to Fast-Track More Homes Near Stations
Thousands of quality homes to be built closer to stations, cutting commute times and helping families live closer to work, school and transport New planning rules will fast-track building quality homes near transport hubs in England Part of the biggest rewrite of planning rules in over a decade to build homes faster, drive good growth, unlock investment, jobs and education opportunities Thousands of new homes will be built around England’s train, tram and underground stations under new planning…
Read More 
Breaking Property News 17/8/26
Daily bite-sized proptech and property news in partnership with Proptech-X. New regional property roadshow to generate conversations with vendors, buyers and homeowners Fine & Country West Wales, in partnership with Homes of Wales, is launching a new regional property roadshow designed to generate conversations with vendors, buyers and homeowners whose moving plans have…
Read More 
Largest August price drop since 2018 despite mini Burnham bounce in demand
Average newly-listed asking prices drop by 2.0% (-£7,360) this month to £364,999, a much larger than usual August drop: Many summer sellers slash their price expectations in reaction to the quieter holiday period and 12-year high number of homes for sale at this time of year Average prices are now 1.0% lower than a year…
Read More