Are you thinking about renting your property to international students?
Most landlords are put off by the idea of renting to international students. But you can have more security, attract a higher quality tenant, and have better income protection.
If you are considering the idea, here are our tips on how to rent to international students in London.
1. Protect Your Income
Usually, before accepting a tenant, you’ll ask them to provide a guarantor that can fund the rent if they can’t. Most people will opt for a family member or close friend to be their guarantor.
When renting to international students, you usually won’t be able to find a guarantor from the UK. This can make legal cases harder to progress if an issue arises. That’s why it’s common for international students to pay rent in advance, usually between three and six months.
2. Check Right-To-Rent
As a landlord, you must check that an international student tenant has a right to rent in the UK. This process involves asking to see various documents, like the student’s visa. You’ll also need to check the information is legit and make copies of the documents.
Learn more about how to complete a right-to-rent check here.
3. Provide More
Student accommodation is usually furnished with a lot more than the basics. If you’re renting to students, you likely already provide more furnishings. But if you’re considering renting to international students, this is essential.
These students may not want to buy toasters and kettles on their first day arriving in the UK. They also won’t want to take bulky items home. If you want to attract a high-quality international student tenant, make sure you are providing a great offer and comfortable living.
4. Enhance Security
When renting to students, your property could be at a higher risk of burglary. People know that student accommodation is usually full of laptops, smartphones, tablets, and other expensive devices.
If you’re planning on renting to an international student, it’s a good idea to enhance your security. This can prevent break-ins and damage to your property. Better security will also make your space more desirable.
5. Make Sure Tenants Fully Understand The Agreement
International students will have lots of new rules they need to learn when moving to the UK. Alongside learning the renting rules, they’ll need to brush up on their rights to work, local area amenities and social etiquettes.
To protect yourself, it’s a good idea to make sure your international student tenant fully understands the agreement. They can usually get support and advice from their university’s advice service, so make sure you direct them to it if you think they may be struggling.
Talk To The Experts
Are you a landlord or homeowner thinking about renting your London property to international students?
Here at Ashmore Residential, we provide advice and tenant management services that can make renting easy for you.
Contact us today on 020 8366 9777 or email us at [email protected].