property investment

Student landlords face a tumultuous time with each new academic year – tenants from all over the world are likely to request access to accommodation, with all potential tenants bringing their own expectations and previous rental experiences. Pleasing everybody is not going to be easy.

Broadband is an area that, as we shall see further down the page, can be a make or break issue for student tenants. As a landlord, you may be eager to attract tenants by providing broadband as part of the rental agreement. Or you may not wish to provide broadband as a means of keeping your prices low. Let’s take a look at what to consider regarding broadband and rented student accommodation. But first, don’t know where to get started with broadband in general? Go to this website to discover the latest broadband deals. 

Should you provide broadband for your student tenants? 

Obviously, you have a choice. Either install broadband and include the fee as part of the tenancy agreement, or allow students to set up their own access to the internet. Both options have potential drawbacks. First, if you provide the broadband, you have no idea how much bandwidth each student requires, meaning that you may significantly underestimate your package deal and face complaints over loadspeed. Second, if you allow students to arrange their own access to the internet, you – as the landlord – will necessarily be involved in the terms and installation, meaning your time will be taken up in dealing with this matter on a regular basis. So, what’s best?

In a recent survey, 82% of students said they would be more likely to view a property wherein access to broadband was included in the tenancy/rent agreement. 88% said that this factor alone would make them actually want to rent the property. So, as we can see, this is a huge selling point for students.

Another issue to consider is whether you currently enjoy a happy relationship with your tenants. Where fast broadband is made available, tenants generally tend to stay put, meaning tenants who prove difficult to deal with could remain in your property for years. This may be worth thinking about both if you wish to retain ‘good’ tenants or discourage ‘bad’ tenants.

Length of contract – consider shorter contracts 

Some tariffs come on a monthly basis. Generally speaking, the longer the contract, the more money you will save, but as a student landlord you have to expect your tenants to be more transient than perhaps other types of tenants, with an average of 10% – 20% of students dropping out of university during their first year of study. This means that for every 10 tenants on your books, you could reasonably expect 1 to 2 tenants to vacate your premises within the first 12 months of their agreement. If you have paid for fast broadband but you have fewer renters picking up the bill, your profit margins will be affected. 

That is why you should consider shorter broadband contracts as a way of limiting your losses. The cost of these short contracts can be passed on to the tenants for one month, at which point you could meet or correspond with the tenants to agree a broadband plan going forwards, relating to whether it would be suitable and agreeable to all involved to enter into a longer term contract.

 

 

 

 

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