Here are some points for landlords to consider and communicate with their tenants.
Many tenancy agreements for students include utilities within the rent up to a certain capped amount. It is likely that there will be in an increase in utilities usage this year. Make sure that tenants know how they can keep track of their usage and if possible provide them with regular statements.
If it becomes apparent that usage is increasing and is likely to be more than the provision within tenancy agreement, then provide early warnings to allow students to properly budget. If possible, to help students mitigate these unexpected additional costs, landlords could consider increasing utility caps as students are not in a position to earn income to cover them.
Some landlords set heating to only come on at particular times of the day on the understanding that much of the time is spent away studying from the property. As students will be in the property for longer periods they will likely need access to heating controls to ensure the property temperature can be kept at a comfortable level.
It is always useful to regularly review internet packages prior to beginning of new tenancies. With all students now studying remotely, attending online lectures and submitting course work, there is an increased demand on internet services. Landlords should seek feedback from their tenants on their internet service and, where appropriate, enhance the service they are receiving in order to enable them to carry out their studies effectively.
Significantly more waste is likely to be created in the home over this period. Please make sure your tenants have access to sufficient external waste bins to allow them to store waste between collections in a way that will not attract vermin to the property or its grounds.
Landlords should encourage tenants to inform them if anyone has tested positive for Covid-19, and to confirm if they are self-isolating and/or are clinically vulnerable. Manage expectations in terms of what repairs can be conducted under these circumstances.
Ensure your risk assessment encapsulates all potential issues encountered if going into a tenant’s property and do all you can to minimise spread of the virus whilst recognising your responsibilities as a landlord.
Anxieties in the community are currently heightened. Make sure you remind your student tenants about the current restrictions and how the importance of respecting neighbours has therefore become even more important.
As more time is spent in the home and the ability to socialise with friends outside of this group is restricted, then the potential for conflict and the negative impact on mental health and well-being grows significantly. Please continue to send reminders to your tenants that support is available to them.
Mike Stephens is a respected senior industry professional and Fellow of the Chartered Insurance Institute (CII) with well over 40 years’ varied experience in the commercial insurance sector as a director, underwriter, and operational improvement manager.
We can provide tailored landlord insurance for when you rent to students, and will go to a panel of insurers on your behalf to find cover based on your specific needs. If you rent to students, just let us know what you need to cover and we’ll help find cover to fit.
For more information visit our dedicated student landlord insurance page or call us on 0344 892 1664.
Date: September 09, 2021
Category: Commercial Property