The old adage of student properties is something that we’re all used to – a flat or house where those in attendance live in questionably decorated and maintained surroundings for cheap prices. However, times have changed, and students have as well. They are now willing to pay more for quality accommodation, and they know what they want.
What this means is that landlords have to adapt and meet the expectations of this new breed of student. After all, with some £6 billion having been invested in the student accommodation sector over the past three years alone, the competition among owners is fiercer than ever. Those who offer students what they want, it stands to reason, are far more likely to see their investment become a success.
So just what are students looking for? The Mistoria Group has compiled a new report which it says sends a clear message to landlords that students are now looking for more than just something that is cheap and spacious.
The most common feature that students in the UK want from their accommodation these days is, probably not surprisingly, a decent internet connection. Of those who were surveyed, some 75 per cent said that a superfast broadband connection was highly desirable.
Other aspects of a tenancy that are perhaps not quite as standard included students who wanted a landlord that would allow them to keep a pet on the property (25 per cent) and others who said that they would like a large plasma TV included as part of their rental price (16 per cent).
More niche requests from students included the one per cent who desired a hot tub in their accommodation, while the same number wanted a garden terrace included.
In terms of the types of tenancy that students want, the report also shows that 91 per cent would rather live in a shared accommodation than on their own, which clearly shows investors the best types of property to buy.
Other concerns that arose also indicated the types of property that investors could look to buy, with 94 per cent saying that they felt worried about footing bills for the first time, including charges for gas, water and electricity.
These are concerns that can be addressed with the right sort of purchase, however, which can help landlords to secure the best student tenants and see a far lower vacancy rate.
New, purpose-built accommodation from Experience Invest helps to address these issues, with owners able to offer up fully-managed modern en-suite and studio apartments that are designed with students in mind.
These investments come with communal areas for students to experience the university lifestyle, as well as having bills included, taking the responsibility away from students, and offering superfast broadband as standard, all of which makes living there an easy decision for any student to make.
Mish Liyanage, managing director of The Mistoria Group, said: “We know that the most important considerations for students when choosing rental accommodation are price, space and location. This research gives us an insight into what students most desire from their property and it shows us that the vast majority want to live in high quality, shared accommodation, with good internet access and affordable bills.
“If landlords and investors provide the right type of property, they will be able to attract lucrative students.”
This article has been provided by Experience Invest – a leader in the UK student property investment market. For more information visit: http://www.experienceinvest.com/student-property-investment/