News
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Time to give up on the undergraduate market?
July 2nd, 2010
If you are one of those people who has let to students for years but suddenly found that you don’t have any tenants for this summer, then now may be the time to give up on the student market and offer your Durham house to the professional lettings market instead. What would this involve?
The first thing to say is that professional lettings does not mean that we only let to accountants and lawyers! In this business it means anybody who has a job which is sufficient to pay their rent. This includes postgraduate students and researchers, most of whom receive grants to cover their living and other expenses.
The professional market is different from the student market in the following principle ways:
- Tenancies start at any time in the year, avoiding the mounting panic as no tenants appear for the annual student changeover.
- Durham rental levels for professionals are a bit less than student rents, but many landlords find that this is more than offset by reduced wear and tear plus a general reduction in hassle.
- Most professional tenants in houses do not want furniture, meaning that you’ll need to start by clearing that old furniture out but will never again have to spend money on replacing it.
- A slightly higher standard of décor is normally required, but you should not have to redecorate nearly so often.
If converting your student let to a professional let is something that appeals to you, we would be delighted to help. Just call us on 0191 374 1234 and we’ll be delighted to come out and advise on what you need to do and how we can assist .
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