Star Student specialise in the Student lettings. We offer the following services:
Tenant Find and Full Property Management
The benefits of owning and renting out a property are many, but the driving factor is sound business investment, but only if it's done with lots of planning and preparation.
Plan to have a long term investment for maximum financial benefit. Landlords need to fully appreciate the running costs of the property they rent out. Without this information you will never fully understand if your investment is a valuable asset or a white elephant. In an ideal world the month rental should cover your costs of insurance, safety certificates, HMO (House in Multiple Occupation) work, maintenance issues and not forgetting agency fees.
Being a student landlord, you will understand that the location of your property and the standard of accommodation are very important to student tenants.
Landlords should be aware of their obligations, keeping the property in good order and if possible deal with major maintenance issues and HMO regulations before tenants move in.
Understanding your tenant’s rights in accordance with the Housing Act and Tenancy Deposit Scheme can save time and costly court fees.
Find an agency you can trust that offers a service that suits your expectations. Listen to the advice given by your agent, this will ensure a successful let of your property to the most suitable tenants. Talk to your agent, confirm that they understand the market and its many variations.
The correct buildings and contents insurance policies will prove to be an invaluable asset to the professional landlord.
Decide what type of Landlord you want to be. One that is here for the duration or a one hit wonder. If you are a landlord that wants to be a success, then talk to Star Students.
When looking to invest in the student market in Exeter it is very important to understand that location is the top factor. Students want to be able to walk to both the University Campus and the city centre, as a minority will not have transport. Most popular areas are St James and Lower Pennsylvania.
Secondly a well maintained property with good quality fixtures and fittings are sought by students. Students who spend their first year in halls of residence are used to having internet access in their bedroom, a double bed and a separate living room.
You would also need to consider whether your house would be a HMO (House in Multiple Occupation). This applies to houses with 5 bedrooms or more on 3 or more floors. For more information on this regulation please contact a member of our team or Enviromental Heath Department, Exeter City Council (01392 265762).
To be able to achieve the best rents, we recommend that you have your property available for viewings in January. We prepare our accommodation list in December ready for distribution at the beginning of January. Over past years Star Students have let at least 90% of their portfolio during the first 2 weeks in January and the remaining 10% over the following 9 months.
During the period of January 2008, rents for the 2008/09 Academic Year have been achieved in the region of £70 - £85 per week per student. These rents exclude utilities and are for a term of 10 or 11 months.