Landlords lure Students with iPads & More

Yesterday a post appeared on Property Tribes “London landlords lure students with iPads as university fees bite”.  The article was first published by Reuters news agency highlighting the incentives London landlords are offering to attract student tenants as student numbers are dropping in the capital due to introduction of university fees and tighter restrictions being imposed on the number of non-EU being able to obtain a Student Visa.

Student accommodation as always be looked upon as a safe property investment with excellent annual returns but is student housing reputation looking a lot more shaky?

The problem isn’t just affecting small landlords it’s proving problematic for corporate organisations too.  Irish owned O’Flynn Group, Carlyle Group’s Pure Student Living and Quintain Estates are among developers who have struggled to fill student rooms in London this year after the British government tripled maximum university fees to 9,000 pounds ($14,400), triggering a 12 per cent fall in numbers from Britain and the EU.

Investment in student housing has risen from 350 million pounds in 2009 to some two billion pounds in the first nine months of 2012, data from CBRE Group showed. Investors are attracted by high occupancy rates and stable income streams.

Read the full article from Reuters >>> here.

Back in September Rooms in Cardiff published a post titled “Cardiff Student Housing or Professional House Share?” which highlighted the fall in student numbers across the UK, Wales and Cardiff with the aim of providing an alternative use for large family houses, Multi Let property and House of Multiple Occupation (HMO) in the Welsh capital.

The aim of the post was to draw landlord’s attention to professional house share a real alternative to Cardiff Student housing.  There is huge demand for professional house share in Cardiff as well as fantastic annual returns as professional tenants require your House of Multiple Occupancy (HMO) 12 months of the year.

As a landlord and owner of a House of Multiple Occupancy (HMO) in Cardiff you are ideally placed to utilise your property more efficiently and take advantage of the growing professional house share market.  So if you are interested in moving away from Cardiff Student housing have Rooms to Rent in Cardiff why not contact Rooms in Cardiff to discuss how we can help you find professional tenants for your professional house share with our low cost, fixed price £120 tenant finder service.

We can also provide landlords with a complete HMO Rent Guarantee scheme taking the complete hassle out of HMO and Multi Let management, with no void periods, no set up fees and no maintenance costs; we can provide a guaranteed rental income for a 12 month plus period.

Contact Rooms in Cardiff on 0845 496 0000 or email info@webletz.coc.uk to discuss how you can diversify into the professional house share market in Cardiff and across South Wales.

HMO Cardiff For Sale

Earlier this month we wrote a blog post titled “Cardiff Student Housing or Professional House Share?” which discussed the fall in student numbers for the current academic year and the number of empty HMO and Multi Let properties available for rent and for sale across the Cathays, Gabalfa and Heath areas of Cardiff and whether landlords should be diversifying and looking at the professional house share market.

Well today I am writing about the current valuation of HMO and Multi Let properties in Cardiff after being contacted by a Cardiff estate agent with an all too familiar story.

Here is the situation the landlord has always provided Cardiff Student Housing in Cathays and Heath areas of Cardiff and I am sure they have done very well over the years but now the Cardiff student housing market is changing as large corporates are providing housing, such as Student Castle, student numbers have dropped and the student accommodation is not filled.

What Are The Landlords Options?

Well there are four main options:

  1. The landlord can rent the whole house to a family
  2. The landlord can look to continue down the multi let route and provide a professional house share
  3. Contact a specialist HMO Rent Guarantee provider
  4. Sell the property

Sounds straight forward, but many of the properties for sale and to let geared towards the Cardiff Student Housing market need a large amount of investment to bring them to a standard required for options 1,2 and 3, so the only option is to sell!

Option 4: For Sale

This sounds a logical option for the landlord who may not wish to spend £20-30k on their property so a “For Sale” board is put in the front of the house.  A few viewings later and an offer is accepted the landlord has the price he wants, but it’s not that simple.

These HMO and Multi Let properties which are geared for the Cardiff Student Housing market are often set up with locks on doors so straight away you can no longer arrange a standard BTL mortgage the buyer will have to look at a specialist HMO mortgage or commercial finance which is considerably more expensive to arrange than you high street BTL.

Secondly even if locks aren’t on internal doors and there is no whiff that the property is set out as a HMO or Multi Let the rental income versus interest only mortgage payments will no stack up unless a hefty deposit is put down which is also required for HMO and commercial finance as often the property is overvalued in today’s market.

So that’s why I am hearing the same story over and over from Cardiff estate agents, the vendor agreed a sale price but the deal has fallen through as the purchaser cannot raise the required finance.

So as we pass Fresher’s Week and all students are settled for the 2012-13 academic year how many HMO and multi lets will be left untenanted and let standing for sale? Quite a few as many need £10-30K being spent on them.

What’s The Outlook?

If you are looking to sell your Cardiff student housing and it requires substantial work you are probably going to have to be prepared to lower your expectations when looking for a sale as often a deposit of £50K is needed and hefty fees are incurred when raising HMO or commercial finance.

Rooms in Cardiff is the place to go for those looking to house share in Cardiff and further afield in South Wales. Whether you are looking for Cardiff student housing or a professional house share, Rooms in Cardiff is your number one resource for private landlord lettings, house of multiple occupation (HMO), multi let property and to find your next housemate.

You can contact Rooms in Cardiff via email info@webletz.co.uk

Telephone 0845 496 0000

Cardiff Student Housing or Professional House Share?

With UCAS reporting student numbers down almost 9% on this time last year is Cardiff student housing still a safe bet for landlords with HMO’s and multi let property or should they be broadening their horizons and looking at an alternative market such as entertaining the idea of a professional house share.

You only have to look on Rightmove or Zoopla and it’s all too evident that there are a large number HMO and multi let property listed for sale and for rent, properties stood empty, deteriorating and more than likely missed the bulk of the Cardiff student housing market.

It is estimated that 1.5 million more young people aged between the ages of 18-30 will be looking to the private rental sector by 2020 to provide a roof over their heads, so is now a good time to switch from Cardiff student housing and consider maximising rental income via a professional house share?

It seems to make sense as Cardiff student housing may see a continued contraction in the short term, but the opposite can be said for the growing professional house share market which looks to continue its growth trend.  Another big plus of the professional house share market is full rental income for a 12 month period which is not always the case with Cardiff student housing.

If you are a landlord with a HMO or multi let and would like to discuss your options feel free to email info@webletz.co.uk or contact us via telephone on 0845 496 0000.

Rooms in Cardiff is a specialist provider of landlord services in the HMO and multi let sector. If you have Rooms to rent in Cardiff then why not try our fixed price HMO tenant finder £120 (NO TENANT NO FEE) or our £30.00 Property Listing service or find out about HMO Rent Guarantee service.

House Share in Cardiff and Beat Fuel Poverty

Figures released today highlight the extent of fuel poverty across the UK since 2010 In Scotland, 28% of the population were fuel poor, Wales was at 26%, and England stood at 16% as Gas and Electricity prices have continue to rise since 2010 then you can bet your bottom dollar fuel poverty has taken a wider grip on the UK population.

At Rooms in Cardiff we always advise tenants looking for a professional house share or Cardiff student housing in a HMO or multi let property to look for private landlord offering monthly rents including utility bills, this way you are sheltering yourself from further utility price rises as well as ensuring you are able to meet you monthly rental obligation and not find any financial surprises at the end of the month.

Rooms in Cardiff is the place to go for those looking to house share in Cardiff and further afield in South Wales.  Whether you are looking for Cardiff student housing or a professional house share, Rooms in Cardiff is your number one resource for private landlord lettings, house of multiple occupation (HMO), multi let property and to find your next housemate.

You can contact Rooms in Cardiff via email info@webletz.co.uk

Telephone 0845 496 0000 or via the contact form below

North Road, Cardiff, CF14

Rooms in Cardiff is pleased to announce that a huge 6 Bedroom house share in Cardiff will be available for viewings shortly.  This multi let property is currently being refurbished and will boast 6 huge double bedrooms, a modern fitted kitchen including 2 fridge freezers, washing machine & dryer, dish washer, integrated electric oven, gas hob and microwave.

This house share in Cardiff boasts two shower rooms, two separate WC’s and a spacious living room including 3 seat and 2 seat sofas, fibre optice wifi broadband and wall mounted LCD TV, a great space to kick back and relax with your new housemate.

Due to the location of the property being in walking distance to University Hospital Wales, Companies House and Cardiff City Centre and also great transport links to the A48 and M4 this will make a great professional house share.

Alternatively it could also make a great Cardiff student housing as it is also located close to Cardiff Metropolitan University (Llandaff Campus),The Royal Welsh College of Music and Drama and Cardiff University.

The private landlord has informed us that completion will be by the end of May with viewings beginning in June.  Photos will be available shortly, but if you are interested in this property please contact Rooms in Cardiff via info@webletz.co.uk