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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.
 20  |  espc.com                                                           espc.com  |  21
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