Letting out a property to students is a lucrative business if you own the right property, but void periods during the summer holiday months can cost landlords thousands in damage and untold inconvenience, according to The Association of Independent Inventory Clerks (AIIC).
The number of students in the UK is still rising despite soaring tuition fees – 2011 saw the number of students rise by 0.3 per cent to just over 2.5 million. Of course, they all need somewhere to live.
Letting out a larger property to students has long been seen as a profitable way to turn a larger house into a good income in a student town or city. But during the summer months when many of these student properties are empty, landlords can face a host of costly damage. It could be worse than just a bit of damage to the fixtures and fittings or the hassle and inconvenience to the landlord of unpaid rent and eviction proceedings – you could end up with a real tenant from hell, carrying out criminal activities and using your property to do it.
Pat Barber, Chair of the AIIC comments: “Property let to students can be at risk during the long summer holidays. Student tenants may go back home for a few weeks, leaving the property empty and therefore posing a security risk. Criminals will be well aware of which properties are vacant and subsequently crime statistics for domestic break-ins are far higher from July to September.
“Often students leave expensive equipment and possessions in the property for long periods and if a break in occurs not only do laptops, stereos and other saleable equipment go missing, but anything of value belonging to the landlord is at risk too.
“A vacationing student may also sublet his or her room for the time they are away. This is a common problem. A recent case concerned a 5 bedroomed student let where a friend of one of the tenants was given a key to stay in the property for a few weeks while the tenants were away. Unfortunately the tenant also brought his dog along for the holidays. There result was that when the tenants came home they found stained carpets, scratched door frames and pet hair on the furniture and carpets. The landlord was forced to pay for a full house clean and was left to try to recoup the money from the offending tenant who was so free with his house keys.”
There are even worse problems with tenant’s unofficial guests. AIIC members have reported many cases of visiting tenants carrying out drug dealing, running massage parlours and brothels during the summer break. AIIC advice is for landlord’s to keep a close watch on their investment. Landlords should make sure that they inspect the property regularly, if a property is vacant for long periods it will usually be necessary for a weekly inspection to comply with the terms of landlord’s insurance policy.
AIIC has put together some guidelines for landlords and agents to help them protect their properties during the void period this summer:
- Safety and Security: The police publish worrying student crime statistics every year. Apparently, in some cities like Manchester, 1-in-3 students will be a victim of crime. Ensure the property has a burglar alarm system and that all windows and doors have safety locks.
- Smoke Alarms:Ensure that the property has working fire alarms, extinguishers and fire blankets. There must also be clearly marked emergency exits.
- Electrical Appliances and Plug Sockets: Switch off all electrical appliances and un plug them from the wall and also check that wall sockets are safe and secure
- Water Supply:Switch off the water from the mains and look out for damp patches or possible leaks. Water damage is seriously costly and can be dangerous
- Furnishing and Fittings:A nice leather sofa might be the selling point, but it might not be there come summer time. Be aware that landlords must provide each tenant with a suitable desk and chair. If possible, check bed mattresses for broken springs which become dangerous over time
- Infestations: Another big problem in student houses are common pests including mice, slugs, fruit flys, pigeons and sometimes even rats. Some students are messy and leave food lying about for days. Even so, some houses have better defences than others against pesky invaders. Check your property for droppings and slug trails especially. On the top floor, listen out for pigeons nesting in the attic. Again, students will try hard to cover up any type of infestation, so you need to be alert and on the lookout for these tell-tale signs
- Damp and Mould: Although regulations on rented shared housing are improving, many houses still suffer from severe damp and black mould problems. Unfortunately, student houses are often under maintained, poorly looked after, and old. As a result, damp is a common nightmare for many students. It needs to be taken seriously as damp not only smells bad, but it can also cause health problems and ruin clothes. Check the walls and ceilings, particularly around windows. Look out for flaking paint or wallpaper, black mould patches and a musky smell.
The AIIC is committed to excellence and professionalism in the property inventory process and works hard to ensure that all landlords, tenants and letting agents understand the importance and benefits of professionally completed property inventories.
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