Posted on Tuesday, September 19, 2017
All landlords want to protect their income and investments, and in doing so, landlords renting property to students are being urged to make sure they draw up a thorough, independent inventory before the start of each new tenancy.
The student accommodation sector is thriving, and for landlords who rent to students, strong yields remain possible. However, if landlords want to maximise their income and protect their investment, a full inventory, drawn up at the start and end of the tenancy, is essential.
The Association of Independent Inventory Clerks (AIIC) is encouraging landlords to compile a full inventory. Its Joint Chair, Danny Zane, said: "A booming student lets market is positive for the wider rental industry and if landlords take the necessary steps - including providing a professional inventory - they can benefit from the potentially high yields on offer with the peace of mind that their investment is protected."
A full inventory should also help to minimise the risk of a dispute occurring between landlord and student, so an inventory protects the interests of the student as well as the landlord.
In other news, it's been reported that demand for student accommodation is set to rise, with continued interest from overseas students looking to study in the UK. International students in search of good quality accommodation are an important market for landlords and property investors, especially in the Marylebone and Baker Street areas, which boast proximity to some of London's leading universities and business schools.
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