Do Students Make the Best Tenants?

Nov. 11, 2013 - PRLog -- THOUSANDS of students have left home to recommence their university courses but, say Bournecoast, rather surprisingly it’s been revealed by a recent survey that students are the most reliable tenants.

Despite the obvious preconceptions that Student tenants are noisy and untidy, the National Landlords Association (NLA) found students are the least likely of all tenants to miss a rental payment.  Just 38% of landlords who let to students over the past year experienced arrears says the latest Landlord Panel survey.

Student landlords experience the lowest incidence of empty properties with less than one in three experiencing vacant properties in recent months.

More good news is that the survey claims students produce the highest rental yields too!

Student tenants and Houses of Multiple Occupation (HMOs) offer the highest rental yield; 6.7% and 7% respectively, which is considerably higher than the 6.1% UK average.

Des Simmons, Managing Director of Bournemouth based Bournecoast, said: “It is encouraging to see such positive figures reported by landlords who let to students.  However, is also very important to bear in mind that letting property to students – indeed, letting to any tenant group, is not an easy win.

“As the head of a dedicated lettings agency - and a landlord myself - I know student tenants require hard work and TLC, as many student tenants are living away from home for the first time. Yet ensuring these tenants are well looked after encourages a rewarding relationship with the student tenant and gives their parents the reassurances they need that their offspring are in safe hands.

“As with all tenancies, it’s important to establish a good, professional relationship from the start. It is also essential that you set out fair terms in your tenancy agreement and that both landlord and tenant fully understand their obligations throughout the tenancy. If you get this right then the tenancy generally runs smoothly, in our experience the outgoing tenant is happy to promote the property and service provided by Bournecoast.”

Bournecoast is the area’s Buy to Let specialist.  It specialises in short term lets from one week to nine months avoiding the twelve month standard let that most other agents are obliged to enforce.

For more information contact their friendly team on 01202 437888 or visit www.bournecoast.co.uk.

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Further Information:

In 2010 Bournecoast celebrated it’s 50^th anniversary and has been family run since it’s inception when it was established by Major & June Webb in 1960.  Keith Simmons MBE, the previous managing director and Major Webb’s son-in-law, was then joined by his son and daughters, Des Simmons, Veronica Strongman and Anita Smith, who now run the company with a team of eighteen staff.

Bournecoast Property Agents have extended their skill base within the ever changing property market and deal with providing self catering holiday accommodation, high quality short term lets (for example to tenants), long term lets and are also an estate agency for people wishing to buy or sell their property locally.

Over the past 50 years Bournecoast has invested in a skilled workforce, ensuring each member of the team enjoys dealing with people and property whilst ensuring their knowledge of the whole property market is second to none, providing advantage over most local agents.

Issued by:

Alexandra Eaton

Marketing Manager

Bournecoast

alex@bournecoast.co.uk

01202 437888