University of Kent Letting to Students Derek Goss

University of Kent Letting to Students Derek Goss and Jackie Warden

Higher Education in the UK • • • Page 2 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. Medway Landlords Presentation

University of Kent • • Page 3 Leading University Strong international impact 17, 000 students and over 2, 000 staff Students from 130 countries and staff from 70. £ 160 M Turnover Excellent locations at Canterbury, Medway, Tonbridge, Brussels and Paris Developing a European identity Medway Landlords Presentation

Typical student room at University Page 4 Medway Landlords Presentation

Another one Page 5 Medway Landlords Presentation

Internet access - really important! Page 6 Medway Landlords Presentation

Student housing in Medway • • • Page 7 604 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 Medway Landlords Presentation

So why should I consider letting to students? • • Page 8 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 Medway Landlords Presentation

What do I need to do? • • • Page 9 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 Medway Landlords Presentation

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 • • Page 10 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 Medway Landlords Presentation

Safety is essential! • • • Page 11 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 Medway Landlords Presentation

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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 • Page 15 flexible contract arrangements eg rents to include cost of utilities etc Medway Landlords Presentation

Professional landlord/agent? • • • Page 16 Medway Landlords Presentation 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

Please spend some money on the décor! Page 17 Medway Landlords Presentation