Dear All Landlords

Good Morning,

I hope you’re enjoying your Friday. :slight_smile:

Little back story, unfortunately my dear Nan passed away around 4 months ago but in a result of this she has left me a decent amount of money, I have concluded that I want to buy a property and seeing I have no need to currently move out I thought it would be best to buy a house to rent out. I would be looking to buy the actual place in a year so I have time to save a little more money in order to get a better mortgage rate and to own more of the house upfront.

I have been doing my research online and spoke to a few people but seeing as I haven’t brought a house before, let alone one to rent out I would really appreciate if someone which is knowledgable in that sector would take some time to give me some advice and answer some questions I have.

More specifically i’m looking into renting out Student accommodation in a local student town, i’m aiming for

If you would spare a few minutes of your time please do send a private message or reply below.

Thank you,
Jamie J M

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I don’t have advice myself, but another place to check out is Reddit - - similar questions come up a lot there!

I think the big consideration is you need a different type of mortgage (buy to let) as renting it out can affect your payments and insurance.


Some of that depends what you do for a living. I don’t need a buy to let mortgage but can rent my property out legally

Have a look into house of multiple occupancy

Which city is it in?

I’d steer clear, I am a landlord and its getting harder to make any money out of it. The time, effort and worry is not worth the hassle.

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@caspararemi Sure! Will take a look for sure! Thanks man!

@Jimmyb878 Thanks!

@don_quixote Yes, that’s what I’m currently looking into. Portsmouth so a student city for sure.

@trevwmitchell Well yes residential seems to have dried up, I will however be going down the HMO route, this still seems profitable. Any advise you will give me?

HMOs typically come with further layers of legal procedural stuff to ensure you won’t have any problems - it may be worth, if your new to property in general, in speaking with some agencies who will take on the management of the property.

Although that being said I have no property or experience just some general knowledge.

Good luck in whatever you decide to do though!

Student HMO Accommodation is the way forward. Make the place look great, make it cheap first year, be a great landlord fixing stuff - and over time you’ll be able to charge more as your reputation will speak volumes.

@JustJordds Yeah, I feel that I will be better off paying the 7-12% for a management company will be the option to go down at least for the 1st property mainly because i’m 22 and will be letting the house to people in the same age bracket and I wouldn’t want them to feel that i’m a push over or a like. The less they know of me the better I think. (Atleast for the time being) and hey I would rather pay 12% than not get any rent at all.

@michaelw90 For sure! The amount you can make is attractive, the only issue will be is being a first time home owner and landlord it plays against me and being ‘HMOs’ are more complex it will be harder getting a mortage for one - hence delaying it a year to try and hit the 30% deposit which will open me to way more lenders as 25% there’s really only 2 companies that will even look at me.

Fingers crossed.

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Funnily enough, when my son goes to uni i might be looking at buying a house for him to stay, with the hope that he can get a bunch of mates to stay and therefore help pay the mortgage, i do however intend to sell it when he leaves as the thought of HMO scares the shit out I me, currently i have 5 houses that i rent out and they are all on my doorstep so easily managed. I guess my only advice would be to stay legal, keep ontop of everything cos people love this blame and compensation culture that we currently live in, that’s the only plus from having an agent as they keep you advised of any legislation changes and updates, apart from that agents serve no good purpose.

Even with the knowledge I have on renting/ letting and the legal procedures and all that guff, I’d still for my first stint atleast have someone else help manage it - last thing you want is court claims and the like coming out of your earholes and 20 calls to “fix this” “fix that” - you then get some peace of mind that the responsibility is with someone else - sure you’re paying for it but the benefit might be greater for a first go round.