New tenancy management and communication platform rent-hub is set to change the way landlords, students and guarantors communicate.
28 March 2017 572 Views
Student property has proved itself to be the highest performing asset class over the past few years and the appeal is easy to see…high yields, tenancies agreed early, most students aren’t looking for state of the art accommodation and of course students come with guarantors in the shape of their better off, more reliable parents. With 2.3 million students studying in the UK last year, how can you possibly lose…
The truth is, as with all rental sectors, each type have their benefits and pitfalls and with students one of the big pitfalls is unintentional damage to the property by students who are free and independent for the first time, looking to party, but have not got used to the fact that mum and dad are not there to keep them in line or in fact clean up after them. Managing this type of issue can be a frustrating and overwhelming challenge.
CB Solutions CEO Steve Reice, had this to say. “This is an area of the rental sector that connects with me on a personal basis as my daughter is currently in her first year of University. My daughter shares her apartment with nine other students and it has been an absolute nightmare. The development is brand new and absolutely stunning, however some of the students she shares with have little consideration for the property and they have completely trashed the communal areas, including the kitchen”. “As a guarantor, I find it unacceptable that I have absolutely no involvement in a situation I’m liable for”.
“When we started work on rent-hub we knew the platform had to incorporate functionality that would help landlords with the type of issues described above. Our research confirmed that when a student knows their guarantor is proactively involved in the rental, damage to property and general cleanliness is significantly improved. Involving the guarantor also reduces the likelihood of end of tenancy disputes”.
We asked Steve what he felt the biggest benefits of the rent-hub platform were. “rent-hub provides unrivalled protection for all parties involved in a tenancy, meaning they can speak freely to their tenancy partner knowing that every event and communication throughout the lifecycle of the tenancy is logged, date stamped and digitally signed by all parties. Higher levels of communication, record keeping, compliance, dispute resolution and tenant retention are all more achievable using rent-hub.”
“If I were to pick one element that I think works particularly well for the student market I would say it’s the unique reference assigned to every communication…this makes spot checks a breeze, simply send a communication to the student and ask them to take a photo of the area you want to check ensuring they include the reference number within the photo.” “Our inventory system is also exciting as it allows you to assign a different tenant to each area of the property, this ensures the person signing off on the area is the person responsible for it”.
You can visit the rent-hub site at https://rent-hub.co.uk where you can download their brochure, take a video walkthrough of the site plus find out further information in relation to site security etc.