Are you currently a private landlord or a new landlord wanting to move into the student housing sector, but you’re not entirely sure what you’re doing?? Here’s where a letting agency can help!
A student letting agency oversees the day to day running and managing of a student property, in order to support both landlords and tenants as well as making their lives easier. As a landlord finding your own tenants, ongoing maintenance and full time running of your student property can be overwhelming! Here’s where a letting agent comes in:
What letting agents do for Landlords
A letting agency usually has a team with plenty of experience, here at IPM Lancaster our team have worked in the student housing sector for over 25+ years and by this point are experts in what they do. For landlords having a knowledgeable team who can assist you in any areas of being a student landlord is invaluable, plus it takes away the stress of having to do it all yourself.
Some property owners may not live close by to their property and therefore may prefer to take a hands-off approach to being a landlord. This allows a letting agency supports you in handling the day to day running of the property.
Usually, letting agencies have a variety of different contractors (roofers, plumbers, electricians etc) who are trusted partners they work with. This saves landlords the worry of having to find, organise and arrange contractors to attend to any maintenance issues. At IPM we have a group of trusted tradesmen who work hand in hand with us and the property owners to ensure all our managed Lancaster student accommodation is up to standard. We even cover the cost of any day-to-day maintenance issues (up to the price of £100) as part of IPMs Inclusive Landlord Package. Letting agents like IPM have the time to arrange and organise all types of works, as well as liaising directly with the tenants. Here at IPM all the tenants report any issues to us directly and we deal with them, only reporting back to landlords where necessary.
Letting your Home
For landlords, there’s no way for you to make money if you haven’t let your home! Letting the property can be a laborious process, especially if you don’t know what you’re doing. Now, we are lucky here in Lancaster as there are 2 popular universities, so student properties are constantly in demand, therefore having the knowledge and skills to let your property and secure good tenants is needed. Here at IPM, we have an 100% success rate in letting all our managed Lancaster student properties, which allows our landlords to feel safe in the knowledge that their properties will always be filled. We work hand in hand with our trusted letting partners Escape Campus to ensure the lettings process is as stress free and easy as possible for both tenants and landlords.
Letting agents also deal with most of the legal side of letting student properties. Of course, as landlords there are a range of different laws, legislations and rules you must abide by, especially when letting your property to students and this is where a letting agency can support you. Here at IPM, our team are up to date with all the latest housing policies and legislation as well as everything that needs to be done to ensure your student home is compliant and up to health and safety standards.
IPM’s Inclusive Landlord Package
Inclusive Property Management’s landlord package allows landlords to know exactly how much rent they’ll be receiving each term with no hidden costs. IPM’s inclusive package covers the majority of issues that may arise in your student home, as well as compliance, health and safety and accreditation. Here’s a list of everything IPM provides:
- Market leading promotion, viewings and lettings
- Deposit Scheme Processing in conjunction with UK rent guarantor arrangements
- Termly property visits
- Electric and Gas (IPM manage and pay all energy bills)
- Wi-Fi (IPM set up and maintain broadband services)
- TV License
- Gas cover to include annual boiler servicing, testing and certification, plus labour and parts for repair call outs (up to the cost of £100)
- Health and Safety risk assessment inspections
- Lancaster City Council Licensing Compliance and Support
- Lancaster University Homes Accreditation
- Minor day to day repairs within the property (up to £100)
- Specialist building and contents insurance
- Tenants’ contents insurance
- Subsidised summer cleaning
If you feel that IPM could help you support you, please contact us today on 01524 928328 or send us an email to ‘hello@ipmlancaster.com’ and we look forward to speaking with you.