Landlords frequently have concerns about renting their homes to students, since they are afraid that they will not get paid or that their properties will be damaged during wild parties. These problems, on the other hand, are quite uncommon. Pick My Pad decided to dispel several of the common misconceptions about student rentals in this blog post.
Damage to the Property
The worst nightmare of a landlord is to have their property trashed by a particularly wild university graduation bash. However, with the rising cost of living, students are choosing to drink and party less, with some research reporting that 30% of student respondents do not consume alcohol at all. Students who don’t drink are also more conscious of the importance of maintaining their house to safeguard their deposit since they have less money.
According to a recent Glide poll, 82 per cent of college students want to binge-watch television and movies rather than go out partying. As a result, the likelihood of a landlord’s property being damaged is greatly decreased.
The typical perception that society has of a student subsists on pasta because they’ve spent all of their money on booze. This, along with the fact that this is the first time many will have had financial responsibilities before, makes landlords uneasy about whether their student renters will be able to pay their rent.
However, in student housing, such problems are extremely uncommon since students get monthly loan instalments. Furthermore, if students miss their rent payments, they are almost always supported by strong guarantors: their parents.
Students are often recognized for playing loud music and shouting and yelling late into the night. However, landlords should anticipate a decline in the number of noise complaints from neighbours as students decrease their alcohol consumption and opt to stay in for film nights with friends.
Finding the Perfect Tenants
Engaging with your tenants is one of the most effective methods to keep an eye on your house. They are more inclined to trust and respect you if they believe you are listening to their concerns and issues. One of the primary factors that students consider when renting a property is whether or not they have a good relationship with their landlord.
Do you still have concerns?
If you’re concerned about letting your property to students, contact Pick My Pad’s experts in house rentals. We’ll talk you through all of the benefits of student rentals and dispel any other myths you may have.
There are several benefits to renting your property to students, such as the monthly loan instalments they receive and the fact that they are more likely to have a good relationship with their landlord. If you’re still concerned, contact Pick My Pad‘s experts in house rentals for more information.