I don't think a Visual Inspection is so valueless. In addition to a 5-yearly EICR, a check of the state of the electrics between tenancies is valuable for the landlord or agent because it gives them a list of items which need to be fixed to ensure accessories are all undamaged and serviceable for the next tenants. Things such as broken sockets, damaged flex cables, exposed live parts, scorch marks suggesting overloading, loose ceiling roses, any evidence of tampering with the installation etc. For the inspector there is usually some follow on work if problems are found. An agent I work for has a large number of student properties and it's amazing how much abuse a house can get from boistrous youngsters. I don't know if this has ever been tested legally but I think a 5 yearly EICR and visual inspection between tenancies with follow up repair of reported problems would show that the agent was exercising a reasonable duty of care.
if it's students, then it should be left alone with all faults un fixed. might get the lazy buggers out of bed if the mattress becomes live.