How to rent out a flat to students? Part 2

In the previous part of the article we began discussing how to rent a flat to students safely. Today we would like to continue by presenting the next steps on the way to finding ideal tenants among students.

Make sure you have a suitable agreement

The foundation of a safe rental is a properly drafted agreement. It is a good idea to prepare it together with a lawyer or an estate agent, who will alert us to its critical points. When drafting the agreement, think about what matters most to you, what you expect from your tenants and what conditions the people living in your property should meet, and put it all down in writing. The agreement may contain a variety of provisions, from the most obvious ones concerning payments and the rental period to details such as whether pets, smoking or subletting the flat are allowed, and so on.

With first-year students, it is good practice to sign the tenancy agreement with their parents. This will give you greater certainty that the rent will be paid regularly. The best form of agreement is a fixed-term one, which prevents problems with unwanted tenants. For particularly cautious landlords we recommend an occasional tenancy agreement (umowa najmu okazjonalnego), which is backed by a notarial deed (akt notarialny) and obliges the tenant to name the place they will move to after the agreement ends. This is an effective safeguard, but it may put off many people interested in renting.

Do not forget the deposit

Another safeguard used by most landlords is a deposit. Its amount is up to you, but it customarily equals one month's rent. It protects the owner against expenses related to any damage caused by the tenants.

Handover protocol

Another protective document is the handover protocol (protokół zdawczo – odbiorczy). It records what the flat's furnishings are like at the moment the tenants move out. It is worth writing down even the smallest details, which helps us avoid unpleasant situations when the tenant moves out.

The handover protocol should also record the meter readings on the day the tenancy begins. This will prevent misunderstandings about payments in the future.

And since we are on the subject of paying for utilities, it is best if you, as the owner, handle this yourself, of course making the bills available for the tenants to inspect. This will protect you against possible misunderstandings with the electricity, Internet and gas suppliers.

Be honest

When signing the agreement with new tenants, it is worth speaking openly about your needs. If you are looking for quiet tenants who will not make noise, say so directly. Of course, there is a risk that applicants will simply agree for a quiet life and then hold parties in the flat anyway. Unfortunately, you have no control over that, but communicating your needs clearly may help you find the kind of tenant you are looking for.

An alternative to looking for student tenants yourself is to hand this task over to an estate agency. Professional agents will effectively help you find people who meet your requirements and will save you a great deal of time and energy.