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EXPERT ADVICE

How to offer a first-class student let

Considering investing in a student let? Nicky Lloyd, Head of ESPC Lettings,
shares expert insights into the buy-to-let market for student properties.

requiring a larger property purchase, costs to Invest in property management
remodel to make it suitable, and the cost of a Of course, when you’re renting out any kind of
licence, however you can then charge rent to property, you might be concerned about how
more tenants, strengthening your yield. much time it will take to manage the lease,
but this is especially true if you have multiple
If you choose not to purchase an HMO tenants to look after.
property, there are plenty of students looking
for a one- or two-bedroom property where this This is where ESPC Lettings can step in, with a
type of licensing is not required, which does not choice of property management packages from
usually generate as high a rental rate, but could the streamlined to the super-comprehensive,
be an effective, lower-maintenance option with looking after everything from finding tenants
ith over 2.1 million students at University, Napier and Heriot-Watt. Student a smaller initial expenditure. with suitable guarantors, to managing rent
UK universities, a student rental lets usually offer good yields and can be a collections, repairs, maintenance, inventories
Wproperty is always in high demand solid financial investment in the long term. Remember the essentials and move-ins and outs.
– especially in a city like Edinburgh, where
there are several highly popular universities So, what do you need to know to make sure Fully furnished properties are preferable in
to choose from, including Edinburgh your property passes the test? most cases, as most students won’t come with Choosing to use a property management
their own furniture. service makes your student let as easy as ABC!

For a student let, you should include beds,
desks and chairs, sofas, wardrobes, drawers
Choose the right location Pick the right model and appliances as a minimum, with the option
Opting for a buy-to-let property close to a When it comes to student lets, you have a to include dining furniture and additional items
university will boost the chances of your couple of options to choose from, based on the like bedside tables, crockery and cutlery as
property being a strong long-term investment. size of property you want to invest in and how you see fit. You should also include curtains or
We are lucky to live close to some of the UK’s many tenants you plan to attract. blinds in each room.
most renowned universities, such as St Andrews
and Edinburgh, meaning that there are lots of Some landlords opt for the HMO (Houses in Investing in extras such as mattress protectors,
opportunities to invest in a property that could Multiple Occupation) model, where students sofa covers and laminate flooring will all help
generate high demand from incoming students. share a property. An HMO licence is required to preserve the property’s condition, lowering
where three or more unrelated people are maintenance costs over time.
It’s imperative to choose a property that’s within sharing a property. HMO properties may require
thirty minutes’ walk of campus, with plenty of remodelling to add extra facilities and the local
student-friendly amenities nearby, like parks, council will need to grant an HMO licence. This
ESPC Lettings is an Edinburgh letting agent. We can help with marketing your rental property and finding the right tenants.
shops, supermarkets, bars and cafes. is certainly an option with a bigger initial outlay, Contact the team on 0131 253 2847 or landlord@espc.com.
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