Buy to let advice please
- Thread starter swee'pea99
- Start date
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Its best that your daughter focuses on her study then be occupied with the chores of a landlord. As students in our time besides parties, we have done such things as hosting friends for couple of nights in our room when they come to visit, are in dire straits or just to chill out. No rule has stopped us. The cleaning and housekeeping chores to be shared will be a challenge if they know that your daughter's parents own the joint and they are subsiding her stay even if its market rate or less are charged for the room. Even if the loan and potential rise in value are positive, the house dynamics might not aid your daughter's well being and studies.
chriswoody
Legendary Member
- Location
- Northern Germany
Just another thought from when I went to uni in the early noughties, student loans only covered term time, so the vast majority of tenancy agreements were only for ten months periods. After which, in summer, students returned home. So could your prospective tenants afford 12 months, or could you take a 2 month hit on repayments?
It might all be different now, but just a thought.
It might all be different now, but just a thought.
Piemaster
Guru
- Location
- UK City of Culture
I'd throw student population into the mix too. My son is in Leeds renting a house with a couple of others, far from immaculate but it's ok. None of them are inclined with trashing the place. Leeds has a lot of student rentals available so no guarantee of even getting tenants or full occupancy after your daughter leaves. The Student Union advises hanging on as better deals are available as landlords get more desperate for tenants. They have actually just signed up for another year at the same rent.
Conversely he has a friend (can't remember where) thats paying a lot more rent for something a little larger than a broom cupboard as that was all he could find and afford. In local paper (Hull) there was recently a story of change of use to multiple occupancy houses being refused as planning reckoned there was enough of them in that particular area.
Very much depends on the local area of course but would be worth looking at what is available in the area.
Conversely he has a friend (can't remember where) thats paying a lot more rent for something a little larger than a broom cupboard as that was all he could find and afford. In local paper (Hull) there was recently a story of change of use to multiple occupancy houses being refused as planning reckoned there was enough of them in that particular area.
Very much depends on the local area of course but would be worth looking at what is available in the area.
