Student buy to let property - where to start?

dimbo61

http://www.manchesterstudenthomes.com/Accommodation


We do not use letting agents


HMO licence needed when over 5 students AND 3 storey property


Bit of a family firm for last 30 years.
Buy in right area which is heading towards town Ardwick, Hulme, Victoria Park, Town centre and Fallowfield.
One months rent as deposit ( also have guarantors from Mum and Dad)


http://www.studenthomefromhome.co.uk/


Offer good quality properties and you will fill rooms every year.


Not something you can do from 50/100 miles away.
We do work every year on properties.
PAT testing, gas safety cert, cleaning, repairs and upgrades

Andypandyboy

Thanks, that is really useful. The rents shown on the link do seem to support what I originally believed.

We would do a refurb to bring any property up to standard, and the ones shown in your link look like the quality finish we would aspire to and somewhere of the standard we would want our offspring to live in. I have to say they seem a cut above the normal student offering.

Do you have a fair usage policy on the utilities? If so, and they exceed what is reasonable do you withold that from the deposits?

Thanks again.

dimbo61

We do have a limited on gas/electric But every property has LED lighting inside and out, combi A rated boilers, good wall and loft insulation, modern double glazing etc.
Set limit high as rather they have heating on than damp and mould problems.
The 10 bed properties are the first to go each year.

dimbo61

Well the budget yesterday may well hurt many landlords.
Higher rate tax payer ?
No 10% wear and tear allowance for furnished property?
Cuts in housing benefits, and other allowances.
He did increase the rent a room allowance to £7500 so if you bought a property for your son/daughter they could rent out a room for £625 a month.
Would have to be top spec and en suite for that rent

Cisco001

i don't know about manchester area.

But if I am in your case, i will find something like a 2 bed house/ apartment in a popular to professionals and not far to uni.
Personally won't keen on letting to student as they won't looking after your house.

You son can live in one room, and rent the other to a lodger, which will come under £7500 tax allowance, and not subject to any CGT when you sell.

And your son may want to stay there to work after graduate?

This would probably be the easiest option?