SOCIAL media is awash with horror stories of landlords discovering their properties in shambles. This seems especially pronounced with properties rented to students.
But what measures can landlords take to protect their valuable investment? Here are a few useful tips:
Have a watertight tenancy agreement
Clearly spell out the terms and conditions with special emphasis on damage to the property. Outline that the tenant will have to pay for any damages and that it will be taken out from the deposit.
Ensure that these student tenants are aware that this will be enforced if there are damages and no amount of pleading or half-baked excuses will wash. Be clear from the outset to manage expectations.
Engage external maintenance crews
A source of many problems is that landlords leave the maintenance and cleaning to student tenants. Many of them will be away from the comfort of the family nest for the very first time. The truth is that many lack the know-how to properly care for a house with more than a fair few simply not being bothered at all, invariably leading to the properties becoming cesspools of filth.
One solution is to have regular cleaning crews service the properties to ensure a minimum standard of hygiene is maintained. Same goes for a/c unit maintenance and other essential services such as plumbing.
Leaving it in the hands of student tenants often means these chores are left undone.
Schedule regular spot checks
This may seem draconian and an invasion of privacy but landlords keen to maintain the value of their properties may want to enforce this. They can dangle the carrot of lower rents for tenants who agree to regular visits, ensuring the properties are kept in decent shape.
Looking for investment opportunities with students as a target demographic? Check out HCK Capital Group’s education cities at: https://hckgroup.my/– June 15, 2024
