If you are looking to invest in student hot spots/University towns, then buying a house which is suitable for a student or students could give you a guaranteed rental income for years to come, even in the less popular regions in the UK.
UK student has become ever increasingly popular over the past 2 years, even outpacing the buoyant standard rental market. This is due to the increase of overseas students needing student accommodation. Student accommodation is attractive to landlords as they can offer get higher rentals for a large property than renting it out to one family, and quite often rents are paid in advance.
However student rental is a niche market, so if your looking to invest in student accommodation there are some key factors to consider:
Is my property suitable for student accommodation?
Make sure you use a registered rental agency. So many rental disputes could be avoided if a proper rental contract is drawn up.
Will your property be classed as an HMO? (House with Multiple Occupancy). A property which is for multiple tenants will probably give you a higher yield on your return, however if you are renting your property out to 5 or more students your property would be classed as an HMO - which means you will have to apply for a license from your local authority and adhere to sometimes costly safety regulations, such as hard wired smoke alarms, fire escapes and so fourth .
The best idea would be to pop into your local branch of Intercounty where we will make you a fresh cup of coffee and we will be able to give you all the advice and help you need from looking for the best buy-to-let mortgage, to managing your rental property.