During the October open days universities are opening their doors to prospective students for the next academic year. As students review the university and courses offered and results, student property investors should note that similar reviews are being made of student properties and accommodation. With the increased competition expected next year universities will want to offer prospective students a package that is attractive and this may also include good quality modern student properties for the students to live in.
It is essential that accommodation we may have invested in is managed correctly and that the agents are proactive to ensure good occupancy levels, and renewal of tenancies etc. With the levels of student activity on social media it is important that in addition to a good web presence managing agent is present and prolific on social media such as Facebook twitter etc.
So what else should student property investors consider?
The accommodation that student property investors purchase or are considering purchasing should compete well with what else is in the area, with regard to facilities offered, size of room, en-suite accommodation and importantly good internet speed. Wi-Fi etc. With students increasingly dependent on the internet for their studies and research this is important, for international students there is increased importance as this may be their way to communicate with home and access media in their home country.
Student property investors should also apply the same criteria as buy to let purchasers and at other key points such as location, demand generators, and proximity to public transport. If specialising in student property investors should also look at university numbers, popularity of courses and any investment in the university. The expectations of the modern day student mean that many are choosing the purpose built accommodation and conversions over the traditional accommodation and house shares and so if the investor chooses the property then this should provide a good medium to long term passive property investment.
Investment Property Consults are experienced in assisting student property investors in identifying good opportunities to maximise yields and return on investment