Continuing on with part 2 of our top tips for landlords, this time we take a look at how a new student landlord can make life easier for both themselves and their tenants when it comes to the general upkeep of the property and keeping on top of bills and payments.
It’s important to remember that many students are living away from their family home for the very first time, and often in a brand-new city that they are not overly familiar with at first. Therefore, making things easy to understand with clear communication from the very beginning can save everyone from having to deal with problematic issues further down the line.
It is the landlord’s responsibility to ensure the general state of the property is at a level which is deemed suitable for habitation. This means that the property must be kept clean, tidy and free from any safety hazards on the day that the tenant move in.
Once the tenant has moved in and is occupying the property, they then take over the responsibility for the general upkeep of the property. This includes maintaining any outdoor spaces that are included with the property, such as a front and/or rear garden. However, if issues with the property arise, such as mould, damp or pest infestations, then this must be resolved by the landlord if they are a result of general wear and tear over time.
As the landlord and owner of the property you are entitled to carry out property inspections as often as you like, though tenants must be provided with at least 24 hours written notice advising them of your intentions to enter the premises for the inspection. If the date and time isn’t convenient for the tenant, then simply re-arrange the inspection to a date and time that is suitable.
As mentioned previously, many students are moving away to begin university studies and are living by themselves for the very first time. This means that the responsibility of making regular rental payments and setting up utility bills are new things they are getting used to. Despite this, the current generation of students are far more money savvy than you may be led to believe. The stigma that associates students with being irresponsible when it comes to cash is now very much outdated.
Student tenants are typically very prompt payers of rent as they are in receipt of a student loan that they receive each term. Confirmation of this loan can be viewed strongly - certainly more so than an employment reference, as people are more likely to lose or quit their job than to leave university. On top of that, a parent or guardian will have agreed to act as the financial guarantor at the start of the tenancy in most cases, meaning a landlord can approach them for payment if it came to that.
Ultimately, the payment of rent and utility bills is the responsibility of the tenants but encouraging them to sign up to a bill splitting service can help them greatly as it assists with arranging bill payments.
If you’re a landlord in Cardiff, then be sure to check out our useful landlord guide. For advice and assistance with any aspect of letting your property then don’t hesitate to contact our expert lettings team here at CPS Homes. Call us on 02920 668585, e-mail firstname.lastname@example.org or pop into one of our three Cardiff branches.