If you have a property to let, have you considered renting it out to students? Due to horror stories, (and memories of living in freezing student houses!) many landlords overlook the high returns that you can make by renting to students and if you use a reputable agency such as Escape Campus, we can guide you through what you need to do in order to comply with legislation easily and efficiently.
Not only that, but we can manage the property on your behalf if you need us to, which is where we stand out as an agency – we pride ourselves on creating good relationships with our student tenants, and that we take care to manage properties properly, protecting your investment and making sure that houses are kept in good condition.
Student houses have changed over time and students now expect a high standard of accommodation and they are willing to pay for it too. Pleasant houses with a decent standard of décor will rent quickly to student groups, who book their accommodation early and come with a guarantor, meaning that your investment is both secure and more predictable than renting to private tenants.
To see an example of how good returns can be on student properties in the Lancaster area, see the annual figures below.
3 bed – Private tenants £6000 – £7800 Student £13,000 – £18,000
5 bed – Private tenants £8400 – £9600 Student £22,000 – £30,000
Location is a key factor in successfully renting to students. As Lancaster is small and very walkable, this means that almost any house in South Lancaster can be successfully rented out to students because they can access campus without much trouble.
Not only that, but student returns on investment in the North West are some of the highest in the country because purchase prices are so much lower. It’s a great place to invest in student property with yields being as high as 6-8% annually.
So if you are in the position of renting a house and are new to student letting, it may be worth talking to us to see if renting to students might be the answer. Give us a ring and we can talk you through the process.