4 things Manchester’s student HMO landlords should do this summer

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Summer is here and for many landlords, our student properties may be sitting empty until September! With Fallowfield and Rusholme house prices on the up, we’re looking at how can you keep your property ahead of the trend this summer!

The yearly migration of students leaving South Manchester and Salford has started and the majority won’t be back until September. In family cars packed to the brim, they’ll wave a teary farewell to their friends before posting a heartfelt “goodbye 11 Croke Close” Facebook post. But the job for you, the landlord of 11 Croke Close, is not quite done in the ever demanding world of the student HMO market.

As with many student heavy areas, the M14 postcode of Fallowfield, Rusholme and Victoria Park is positively booming, with property value up at +1.54%, where the average price for a 4 bed house is £243,000, and the average asking rent for a similar property is £1,324 pcm (Zoopla). Depending on quality and location of the property, that’s roughly an average rent of £80 per room, per week (Min. £60 – Max £120). How can you make the best of this situation?

1. Security over the summer

As with many large metropolises, Mancunians have had to accept that a higher crime rate is all part of the urban package. Without sounding sensationalist, this summer you should reassess your property’s security as now is the time that criminals begin to take notice of empty properties.

As you can see from the graph, the rate of burglaries in the Fallowfield and Rusholme area starts an upward trend from July, so now is the time to start reviewing your security measures. Many criminals know that students move back home over summer whilst leaving their belongings in their student house, this means that your property which is full of white goods and student belongings could be a prime target!

The smart solution

The most obvious is keep an eye on your property. This could be a weekly check for any tell tale markings on the walls or doors of the property; a particular tactic burglars employ to identify targets. Ideally, the best way to keep burglars away is to have evidence that someone lives there. This someone may be a student or two staying on over summer, or, failing that, lights on a timer. Depending on your budget, it may be worth installing an alarm system. Nowadays, home security systems have become so sophisticated that you can operate them from a smartphone; there’ll be no need to drive out to cancel a false alarm! CCTV may be a step too far if you have live-in tenants, but faux-cameras can deter any interest.

2. Recycling

This is another nuisance for locals and landlords alike. Quite often, with students checking out at different times and frantically cleaning, unwanted items get dumped for the landlord to clear up. As annoying as it may be, Manchester students and the universities have taken note and run initiatives to clean up the streets and ensure waste is disposed of correctly. The Give It Don’t Bin It scheme was hugely successful last year, with donations to the British Heart Foundation totalling £230,723 and the non perishable food donations providing 2000 meals for the food bank.

The smart solution

If you are left with recyclable or reusable items, donating them to the British Heart Foundation can go a long way. It may also be worth providing information for future tenants, or visiting them shortly before check out so that you and they know how you expect the property to be left.

3. Maintenance

Now is the time to get into the property and sort out any minor issues (major issues will hopefully have been sorted when and where they happen!).

The smart solution

• For tough to remove blue or white tack stains, try using a magic sponge.
• For any white or black damp stains, check out this video
• For any cracks in wooden surfaces, try using a good wood filler and a sanded and varnished finish.
• For carpet stains, try using a highly effective Rug Doctor.

4. Gardening

There’s nothing worse for the time poor landlord to discover a completely overgrown garden come September. To keep the lawn in good shape you’ll have to mow fortnightly for great results come marketing and photo opportunities.

The smart solution

We’d all love a cheap and easy fix to a minimal effort garden but, as time consuming as popping over every two weeks may be, remember that a well kept lawn communicates to prospective tenants that you care and put effort into your property. Another solution to a more manageable garden might be a gravel grounding and potted plants. Over the non live-in months of the summer, gravel can be covered by a heavy sheet to keep weeds at bay, whilst potted plants will contain themselves to their pots. A good rosemary bush, or strawberry plant wouldn’t go amiss.

Smart property are a student and professional HMO property management and investment company. They offer their services across Manchester, Salford, Sheffield, Leicester and Nottingham.

As well as their property management services, they offer a long term rent guarantee programme that Property 118 founder Mark Alexander found ‘so impressive’ he decided to invest in the company himself.  Andy welcomes private landlords, developers and investors to talk to him and his team about property management, guaranteed rent, investment opportunities and block management contracts.

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What Documents do I need when letting a property?

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Lettings Document Checklist:

When setting up a new Assured Shorthold Tenancy (AST) it has always been important to pay attention to the paperwork, which provides vital evidence should there be a dispute during or after the tenancy.

But since the Deregulation Act 2015, with measures that came into force for new ASTs from 1st of October 2015, and for all ASTs from 1st October 2018, including existing tenancies, it became a whole lot more important, and a whole lot more onerous on landlord’s and agent’s admiration systems, to find the time to have comprehensive documentation.

Without evidence, (1) it is likely you won’t be able to serve a valid section 21 notice, the two-month no fault notice informing the tenant that you will be applying to the court for a possession order if they don’t vacate at the expiry of the notice, and (2) you are unlikely to be successful in your court possession claim.

What is the Paperwork you need?

Here is our recommend 20 Point Document Checklist:

1. A documented Risk Assessment, Fire Safety, Furniture, Appliances, Legionella.

2. Tenancy Agreement – your tenancy agreements should be up-to-date taking into account the latest changes in the law.

3. Telephone & Interview Checklist – used to take details during initial enquiries.

4. Tenancy Application Form – the most important document after the Tenancy Agreement – gives all the background information you should have on every adult tenant in your property.

5. Tenant Credit Checks & References – a report from a reputable referencing agency – www.tenantverify.co.uk

6. Right to Rent Check – copies of ID documents, passports, driver’s licences, visas, home office letters etc.

7. Check-in / Check-out Checklist – itemised list and checklist so that nothing is missed out when checking a tenant in and out.

8. Inventory, including all meter readings, keys etc.

9. Deposit Protection Details and s213 notice – the deposit protected within 30 days and the notice served and receipted obtained.

10. Letters to all utility providers – informing the utility providers in writing or online of tenancy change overs.

11. Tenant’s Information Pack, Instructions – copies provided to every tenant.
12. EPC – a ten year certificate which must be in place first when marketing a property to let or for sale.

13. Gas Safety Certificate – annual Gas Check carried out by a Gas Safe registered engineer and a copy issued to the tenant.

14. Government’s “How to Rent” Guide must be issued to tenants at the commencement of every new tenancy.

15. Electrical Safety Certificate (not compulsory in England as yet but recommended every 5 years)

16. Rent Book if rent is paid weekly.

17. Regular Inspection reports – landlord’s insurance policies usually specify that regular inspections are carried out.

18. Licensing Details – if the property comes under any of the local authority licensing schemes.

19. Tenant’s Journal – keep a journal for every tenancy which records every contact and tenancy event for use as evidence in the future.

20. Tenant’s File – keep a file for every tenancy / property which contains all of these documents.

• Make sure you have a good comprehensive landlord’s insurance policy in place from a reputable supplier – see: www.landlordzone.co.uk/directory/suppliers-directory/insurance

• Make sure you keep proper accounts to record all your Income and Expenses from every property you own.

Seems a whole lot to think about and quite a bit of work, but if you want things to go smoothly, and just in case there’s a problem where unfortunately you need to evict, landlords and agents now need to arm themselves with this sort of documentary evidence.

See the LandlordZONE® documents’ section for all documents cited above: www.landlordzone.co.uk/documents

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