As we head towards the New Year, when students typically start looking for their second year accommodation, some residential landlords will have to make changes if they want to avoid lengthy void periods on student lets, according to the Surrey based estate agents Townends.

Areas within which the firm operate, such as Guildford and Egham not only command some of the highest student rents, but are home to the University of Surrey and the Royal Holloway, both of which are charging students the maximum £9000 annual course fee.

Caroline Kavanagh, Managing Director of Townends Lettings & Management said: “We have noticed a real drop in the number of students looking to secure accommodation for next year. With student fees nearly three times as much as previous years, it’s hardly surprising that those that can afford these charges, are having to sacrifice the independence of sharing a student let and continue living at home with their parents.”

The real impact of the fees hikes will not hit student landlords until September 2013, as many will have secured tenants for this academic year back in January, which will see their properties tenanted until next summer. But with demand likely to be lower than usual for next year, Caroline says landlords should be considering their options.

1.) Set a timeframe by which you are prepared to market your property to students during the prime letting period in the New Year. If your property is still vacant consider other options for your property.

2.) Consider renovating the property to bring it up to the standard of a professional let which would give it wider appeal to the likes of families, young couples or professional sharers. The existing condition of student properties rarely entices the average tenant.

3.) Renovate the property to appeal to international students who are less affected by the increase in tuition fees and still prepared to pay premium rents as long as the property is of high specification and within close proximity to the university.

4.) Consider selling the property and using the money to purchase an alternative buy-to-let investment with greater appeal such as a modern, purpose built two bedroom apartment.”

Some landlords are reluctant to change their properties to ‘Professional lets’ because they don’t typically command as much rent as when the property is let to a group of student sharers but it appears some landlords now need to look at the bigger picture.

“A four bedroom property brought up to scratch with some renovation work and subsequently rented out for 6-12 months at a £1000pcm is far more profitable than a property which has previously been let for £1400pcm, but now faces the possibility of remaining empty for an entire academic year,” said Ms Kavanagh.

Unlike the rest of the private rented sector, student landlords have seasonal windows of opportunity to let their properties. Once students start the term, they are unlikely to move, so if landlords are concerned about securing tenants soon, they are advised to speak to an agent for advice on the best way to proceed.