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What do students require from their rental accommodation?
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
A new survey has uncovered what students really want from their rental accommodation.
Investing in student property is still popular amongst buy-to-let landlords, who are enticed by the thought of substantial rental yields, low void periods and manageable tenants.
Students Needs
Research conducted from 500 tenants by the Mistoria Group revealed students’ top requirements from their housing to be:
- Safe and secure accommodation-89%
- Fast broadband connection-88%
- A washing machine-76%
- Close proximity to university campus-72%
- High-quality accommodation-59%
- Good proximity to local amenities-47%
What do students require from their rental accommodation?
Worries
The cost of going to university is currently at its highest ever level. It comes as little surprise then to learn that students’ greatest concerns are to do with financial issues.
These top financial worries were found to be:
- Cost of food-66%
- Public transport fees-42%
- Mobile Phone bills-40%
- Energy costs-14%
Accommodation
Mish Liyanage, Managing Director of the Mistoria Group, said, ‘our data shows the vast majority of students want to live in high quality, shared accommodation, with good internet access and affordable bills. We also know from previous research that the overwhelming majority of students (80%) want to live in shared accommodation with friends. Only 5% want halls of residence and just 3% of students want to live in a self-contained room or flat.’[1]
‘If landlords and investors provide the right type of property, they will be able to attract lucrative students,’ Liyanage continued. ‘Student accommodation offers investors a number of attractive features such as high yields as students settle for less space than other tenants; high occupancy; and it is neatly counter-cyclical, as more people go to university during economic downturns.’[1]
[1] http://www.propertyreporter.co.uk/landlords/what-do-students-actually-want-from-their-rental-accommodation.html
