You can expect students to be a bit 'green' when it comes to moving out of the family home for the first time but research in the Midlands has shown that some undergraduates are being worryingly exploited when it comes to rental accommodation.
Trading standards watchdogs at Leicestershire County Council uncovered a trend for 'unscrupulous agencies renting out accommodation to unsuspecting students.' These are sad findings that highlight the need for professional letting agents who abide by codes of conduct and have impeccable trading histories.
You can see a positive in this negative, however. Landlords who choose the right letting agent to market and manage their student lets can use the agent's credentials as a selling point. For instance, here at London Residential we are a member of NALS, Safe Agent and the Property Ombudsman - making us truly accountable - and we openly pledge to safeguard both tenant and landlord.
A good letting agent and property manager will have a tenant's best interests at heart. They will also be hot on compliance, understand the necessity for regular property inspections, and be transparent about fees and contracts.
If you are one of the estimated 730,000 parents* already letting properties to their student children, or would like to buy a property as a student let, the advice of a professional property manager and the industry reassurances associated with a respected letting agent have never been more important.
*Post Office Money
As thousands of students start the new university term, the investigation revealed that the main issues affecting students included unprotected deposits, unfair contract terms and hidden terms and conditions for all-inclusive contracts. Other issues include disputes over the return of deposits and disputes over claims for cleaning at the end of contracts.