What a bizarre idea to have a joint bank account with fellow students. They hardly know each other really. Certainly not well enough to know that someone might not develop/already have a gambling or drug problem that requires more than a financial fix than they have access to on their own!
I'm really surprised that in this era of super-tight bank regulations, it's even allowed. I cannot for the life of me see how it inconveniences the landlord (other than it might take him a slightly longer glance to check that everyone has paid up on time!) - perhaps he should be the one setting up an account in his name for each of the properties.