Buy to let landlords investing in student properties could stand to make consistent returns as student tenants remain positive about renting
Nearly half of students in rented accommodation believe they are getting good value for money from their living space, according to Glide Utilities.
The electricity utility firm looked into what students want from their accommodation while they are doing their studies and found 83 per cent want a reliable and fast internet connection.
Some 72 per cent also want significant storage space to keep all their belongings, providing an insight for buy to let landlords looking to attract these tenants.
Meeting student requirements
Given that the research suggests 15 per cent of landlords have concerns over whether they would let all of their property for the start of next term, including these perks at the start is crucial.
Landlords who cater to the needs of students are more likely to see demand for their properties but there are two other important factors which need to be considered alongside those mentioned above: transport and proximity to the university itself.
A third of students said that access to good transport links was vital when looking for accommodation while 50 per cent said they wanted to be close to their university.
Space was also important as half of students wanted rooms capable of fitting a double bed and a third wanted en-suite bathrooms if possible.
“The secret to gaining student appeal in 2015 is definitely ‘more is more’,” explained James Villarreal, Chief Executive of Glide Utilities.
He added that while the majority of students are happy with their accommodation, the figure is actually slowly declining as a result of greater student expectations.
This means that landlords need to be savvy when choosing and renovating properties as accommodation that appeals to students is unlikely to have long void periods attached to it.
Students also revealed what they disliked about property management, revealing that 29 per cent noted a lack of communication between landlords and tenants.
Some 39 per cent also said that they often didn't get a response when they reported maintenance problem.
Buy to let investors and landlords should therefore strive to ensure good upkeep of their properties and clear communication with tenants in order to ensure a constant flow of rental income.