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7 Things Student Housing Landlords Should Do Before The End of September

7 Things Student Housing Landlords Should Do Before The End of September

7 Things Student Housing Landlords Should Do Before The End of September

September is without a doubt one of the most hectic and stressful months for student housing landlords and operators. We previously talked about how to prepare for the student housing turn season and what to do once it’s arrived.

 

Here are several things landlords should aim to tackle sometime in September.

 

1.    Take New Photos of each Rental and Document its Condition:

The beginning of September is a perfect time to take new property photos before the new tenants move in. There are two reasons why September is an ideal time for new photos:

  • The unit will be vacant, allowing for photo staging.
  • These photos will provide photo documentation of the condition each unit was in, prior to the new tenants arriving. 


2.    Talk Lease Renewals:


Is it too early to talk lease renewals in September? Definitely not! Tenant retention is a process that begins the second tenants sign the lease. It never hurts to simply mention that if they like the place and wish to extend their lease, it can be done anytime. Offer incentives or discounts to encourage early lease renewals.

 

3.    Discuss Renter’s Insurance:


In most cases, renter’s insurance is not a mandatory requirement for tenants; but it’s something that should be discussed. Student tenants are often unaware that their possessions are not covered by the landlord’s property insurance or that the cost of renter’s insurance is quite reasonable.

 

4.     Transfer Utilities into the Tenant’s Name OR Talk All-Inclusive Limitations:

If a rental unit is non-inclusive, the landlord will either transfer the utilities to the new tenants or inform them to set up the applicable utilities on their own.

Alternatively, if a unit is all-inclusive, the landlord should discuss and/or include in the lease what “all-inclusive” entails, to avoid any misunderstandings. For example, some landlords may have limitations regarding utility usage, resulting in tenants having to pay for any differences.

 

5.    Gather Contact Information for All Tenants:


In some instances, a landlord will have a property with multiple bedrooms for rent but will have a single tenant sign the lease for the entire group. This single tenant acts as the primary contact person for the rental; but the landlord should request each tenant’s cell number too. It’s important to have contact information for all the students, should an emergency arise or there is a situation relating to only one of the other renters.

6.    Provide Another Copy of the Lease Agreement & Move-In Checklist:


Landlords usually provide the primary contact person with a copy of the lease when signed, but it’s recommended to supply each tenant with a copy once they’ve all moved in.

 

In addition, landlords can also provide tenants with a move-in checklist that provides in depth documentation of the condition of the property, appliances included, etc.

 

7.    Get Tenant Feedback:

By the end of September, student tenants are usually settled into their new accommodation. This is a great time for landlords to ask them for feedback on the rental. If any negative feedback is provided, it’s best to address and tackle each issue promptly, as it will create a positive and lasting impression which is bound to increase tenant satisfaction and produce referrals.