accommodation

Becoming a student landlord can be both a positive and a profitable venture, but only if you do it properly. When you're planning on renting to students, it pays to be prepared. If you're a landlord new to student lets, and you want to ensure that your newest endeavour is a success, here is some essential advice to help you on your journey, from tips on purchasing a suitable property to advice for finding your first tenants.

Do Your Research First

It's important to contemplate the complexity and hard work involved in managing a property business. Like any commercial endeavour, the general rules of running and marketing an enterprise apply. You will be required to invest time and capital in coming to understand your customers and then providing them with the products and services they desire at a viable price. Managing a profitable student letting business is a yellow brick road to riches: uncertain; fraught with dangers; and a lot harder to travel than it might first look. After hours, you'll need to familiarise yourself over and over with the ever mutable laws on tenancies and letting, and complete your accounts and tax returns. 

Apart from figuring out finances, worrying about fitting in and stopping your mum from buying all the unnecessary kitchen utensils under the sun, finding the right place to live while at university can be an equally confusing and daunting task. There are a couple of different options available but it's important to consider them early and arrange them as soon as possible in order to get your first pick. Here are four of the main types and some key details that will help you to choose which place is right for you.

1. University Student Halls

One of the most popular choices for many students, university halls offer a great transition from home to independent living. All the costs of bills, internet and sometimes food if you choose the catered option, are included in a complete fee each term. However you'll still have to do your own laundry, wash your dishes and look after your room. Some rooms are en-suite, but many include shared bathrooms. It can be unnerving if you're moving in with five to ten other people that you don't know, but halls are a great way to make friends quickly and settle into your university together as everyone is in the same boat and you're likely to be quite close to campus.

I was surprised to see that one of the UCL student residences was nominated amongst the worst new buildings in Britain. Being used to the student life, I could imagine peeling walls, dirty lavatories, rusty pipes, hoards of unattended rubbish and so on. But my surprise grew when I realized that the main concern was the lack of sunshine due to the adjacent building. Moreover, it affected only 23 rooms.

In my experience, students usually go to their rooms only if they want to sleep. Often, they get to their bed early in the morning (after a night spent partying or studying) and in that case, the shadow would be an asset. It is hard to sleep when the morning sun knocks at your window.

Student residences in Slovakia, where I did my studies, have different problems - the ones I originally expected at the UK's. But the situation is not so bad, compared to the price. The monthly prices in the UK might run so high that in some residences in Slovakia you could live for the whole academic year.

UCL and Oxford University student residences have been nominated as some of the worst new buildings in the UK. Both make a shortlist of just six nominees after facing huge opposition.

465 Caledonian Road

The UCL building is a 350-room block of flats (pictured above) on Caledonian Road near King's Cross in London and rooms cost up to £730 a month. Despite the cost, 23 of the rooms face directly onto the brick wall of the building next door, meaning they get less sunlight than the legal minimum.

Indeed, planning permission was originally denied by the local council in 2010, only for a successful appeal to give the green light. During the appeal process, it was argued that the "student lifestyle" meant that the rooms would only be used for sleeping in and therefore didn't need the legal quota of natural light.

The problem arose due to the fact that the adjacent building was listed and therefore could not be altered. The photo below is of the first scaffolding going up for the student flats, showing just how close the two buildings are.

Moving into your first student flat can seem both extremely exciting as well as slightly intimidating, whether you're moving straight out of your parents' place or from student halls.

The prospect of slumming it out with other people your age is something to look forward to, but you should ensure that you secure a flat in the most advantageous way possible, from choosing what kind of flatmates you want to live with, to which of the many broadband packages you should opt for to suit your needs the best.

Start looking early!

A critical error most students commit is failing to start their flat hunt early enough. You'll encounter these unfortunate individuals by the truckload at university. The last thing you want is to have to desperately choose from the last few remaining flats which, unsurprisingly, are not likely to be the best of the bunch.

The secret to snagging a good place quickly is to indulge in some high-intensity viewings. Instead of seeing one place every few days, try and fit in 5 to 6 viewings per day. This way, you'll be able to compare the flats you're seeing much better and come to a more informed decision, ultimately.