Student buy to let property - where to start?

silvercar

Lots of upsides with student lets in Manchester. Downside is that students seem to like to tie up their accommodation for the following year ridiculously early. (This is also a downside for the students, as they agree who to live with the following year having only known their future housemates for a few months.)

Andypandyboy

LEJC wrote: »

Just wanted to jump in and say...this is our plan too,same town and the potential of a 4 year course,with child starting in Sept 16 subject to offer...

we intend to use halls first year and allow ourselves the possibility of viewing properties within that first year although our view is to opt for smaller 2 bed flat as the larger student accomodating houses dont appeal to our offspring!
I've already had some wonderful advice and pointers from one poster on this thread via another portal who I am sure as the time approaches to take the plunge their expertise and knowledge of the area will be invaluable.

One of our older kids had a 10 bedder one year and that was a nightmare for all concerned, at least four of them never had money for utilities and the one with the bills in their name had a real headache extracting the cash.

So I don't think we will go above a 3 bed terrace with the potential for a 4th bed from the dining room.

Offspring will (subject to results in August:D) be going to one of the Fallowfield halls and so will probably want to remain in that area. Student city!

We have talked about this so many times I think it is time we took the plunge!

Could you share the details of the other portal?

jayss

Talk to the uni accommodation office.
Way back when I was a student in many they'd have a list of approved landlords.

dimbo61

http://www.studenthomefromhome.co.uk/Living/6-talbot-road-m14-6tb-10-bedroom




http://www.manchesterstudenthomes.com/Accommodation




I am an accreditation A+ landlord with MSH


Have to do CPD with MSH !
continuous professional development!!!
You need to read up about article 4 and Manchester City Council views on Student landlords.


The first website is the standard I would want my Son/Daughter to live in.
ALL INCLUSIVE Rent with 6/8/10 bed properties

silvercar

For a landlord, the problem with all inclusive rents is that the students leave the heating on 24/7.

The prices from the top link are way above average for Manchester students.

missbiggles1

silvercar wrote: »

For a landlord, the problem with all inclusive rents is that the students leave the heating on 24/7.

The prices from the top link are way above average for Manchester students.

Thank heavens for that - I thought I was going to have a coronary!

Much better to live somewhere cheaper and rather less luxurious.

silvercar

missbiggles1 wrote: »

Thank heavens for that - I thought I was going to have a coronary!

Much better to live somewhere cheaper and rather less luxurious.

Particularly as a month of student living and the place won't look anything like the photos.

By way of example, DS2 last house was a 6 bedroom place in a very central Fallowfield location. bedroom furniture was old, bathroom was functional, boiler modern and kitchen nice. He paid £326 a month + bills.

Andypandyboy

I am not so sure the rent shown above is outside the norm. Halls for 2015/6 now range from £98 to £168. So £107 does not seem too wide of the mark for that standard of accommodation. I have researched the area and private rents average £100 per week for quite basic accom.

rexmedorum

Few thoughts:

How about a studio for just the offspring? Extracting rent from "mates" is tough at the best of times, but if the landlord is their parent it's even less likely they'll see the urgency of paying up.

Many universities (or student unions) have schemes private landlords can join to advertise their rooms through, worth looking at as it reduces void risks and if you do get a void you may fill it by late arrivals (e.g. from oversees)

How do the offspring feel about this?

silvercar

Andypandyboy wrote: »

I am not so sure the rent shown above is outside the norm. Halls for 2015/6 now range from £98 to £168. So £107 does not seem too wide of the mark for that standard of accommodation. I have researched the area and private rents average £100 per week for quite basic accom.

You really can't compare Hall prices with private rentals. Halls include internet, many offer en-suite rooms, some include meals....

I don't know how well you know the area, the further south you go from Fallowfield down to Withenshaw and Wilmslow the more expensive properties become as you move out of student territory. Your research bears no relation to my experience.