Students least likely to miss rental payments
The National Landlords Association (NLA) has revealed that students are amongst the most reliable tenants, with only 38% of student landlords having experienced arrears in last year.
This is compared to 59% of landlords letting to blue collar workers and 71% letting to benefit recipients.
Student tenants offer the highest rental yields at 6.7% compared to the UK average of 6.1%.
Owners of student properties are also the least likely to experience voids with only 30% of landlords having had empty properties in the last three months compared to 40% of landlords letting to families.
Carolyn Uphill, NLA Chairman, said: “It is encouraging to see such positive figures reported by landlords who let to students.
“However, it’s important to highlight that letting property to students — indeed, letting to any tenant group, is not an easy win.
“As a student landlord myself, I know that it can be very hard work and requires the investment of time as many of your tenants are living away from home for the first time. It is this dedication to the relationship that makes letting to students so rewarding.
“As with all tenancies, it’s important to establish a good, professional relationship from the start.
"It is also essential that you set out fair terms in your tenancy agreement and that both landlord and tenant fully understand their obligations throughout the tenancy. If you get this right then the tenancy generally runs smoothly.”