letting to students derek goss and jackie warden university of kent
TRANSCRIPT
Letting to Students
Derek Goss and Jackie Warden
University of Kent
Higher Education in the UK
• 2.3 million students in Higher Education
• 116 Universities
• 43% of UK 18-30 year olds are students;
• 1.2 million full-time undergraduates
• 600,000 part-time
• Postgraduates: 250,000 f/t, 250,00 p/t.
• 230,000 non eu international students,
• 110,00 from the EU.
• More women than men.
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University of Kent
• Leading University
• Strong international impact
• 17,000 students and over 2,000 staff
• Students from 130 countries and staff from 70.
• £160M Turnover
• Excellent locations at Canterbury, Medway, Tonbridge, Brussels and Paris
• Developing a European identity
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Typical student room at University
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Another one
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Internet access - really important!
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Student housing in Medway
• 604 rooms in Medway for first years and international students
• Year 2 & 3 students have to rely on the private sector and want to be near the campus with friends
• So walking distance or on a bus route
• Average rent for a single room in a shared house is £65 to £85 a week
• Deposits are usually equivalent to 1 or 1 ¼ months rent
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So why should I consider letting to students?
• Location of my property
• Possibility of higher rents
• Eg £75 pw = £300 per room pcm
• Affinity with type of tenant
• Lower tenant expectations
• Lower risk of non payment
• Tenants move on at end of tenancy
• Re-assurance of advice from University
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What do I need to do?
• It’s a business!
• Meet current housing legislation
• HMO regulations 2006
• More active management required by you or your agent
• P/permission required after April 2009
• Install hard wired fire safety system
• Invest in gas and electrical safety
• Cover garden maintenance
• Join the Accreditation scheme
• Advertise with the University
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What does the University do?
• Source of tenants
• Cuts out the middleman - saving 12 to 15%
• Offers advertising service to landlords
• Guidance and information on letting to students – handbook
• Supports Accreditation
• Will represent students
We do not
• Offer landlords a property management service
• Act as rent guarantors or guarantee finding tenants
• Tolerate discrimination or unfair treatment of our students
• Accept liability for damage to property
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Safety is essential!
• University Accommodation Office wishes to protect the health & safety of its students
• Inspects property before advertising it
• Requires copies of gas and electricity safety certificates from landlords
• Expects hard wired fire safety systems in houses
• Supports Accreditation and good landlords
• Reserves the right not to advertise if it lacks confidence in the landlord or their property
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Important issues
• Student house hunting season
• January to April or in September
• Housing Fairs January and March
• Contract length September to June
• Be prepared to let to groups or individuals
• flexible contract arrangements eg rents to include cost of utilities etc
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Professional landlord/agent?
• Level of service offered?
• Is the property Accredited
• Convenient Location
• Decent state of repair
• Fair rent and contract
• Is the heating and hot water system modern & O.K
• Are there adequate cooking/refrigeration facilities
• No damp or condensation
• Secure doors and windows
• Fire safety equipment
• Safety certificates
• Speedy maintenance service
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Please spend some money on the décor!