December 6th, 2019
Student property investment is one of the highest performing asset classes in the UK. Even during the financial crisis of 2007, the student housing sector proved itself to be one of the most lucrative property investment options, as it continued to retrieve high yields for its investors along with continuously high occupancy rates. Fast forward to 2019 and the market is still extremely strong, with the National landlords Association finding that student tenants generate above average rental yields – but how can you make your property appeal to the student demographic? A recent survey carried out by Property Reporter at Edge Hill University set out to find the answer. Here are five key features for any student accommodation:
According to the survey, the most important feature students looked for when choosing student accommodation was high-speed Wi-Fi. Over 50% of the candidates said that having good Wi-Fi is a top priority when it comes to finding their accommodation and it’s clear to see why, with a high-speed Wi-Fi connection being key for both study and leisure purposes.
Students are required to undertake various research topics and upload a number of assignments throughout their respective courses and a fast internet can be extremely beneficial for this, taking away the stress of upload failures and slow loading times online. As well as assignments and research, students use the internet in their down time to keep in touch with family and friends, especially if they have moved away from home for University. They also keep up to date with social media, read online articles and even stream a series during the limited free time they get. A fast Wi-Fi connection makes both studious and leisurely activities much more enjoyable and efficient.
Another important feature of student accommodation is the student’s bed. Property Reporter’s study revealed that a double bed is the second priority after high speed Wi-Fi, with a few students even claiming a double bed is absolutely essential when looking for a place to live. University student’s extensive workload and busy timetables can be extremely tiring, making a good night’s sleep key for students. A double bed offers more comfort than the traditional single beds found in most student dorms, making for both a better night’s sleep and more room to relax.
A double bed also allows for friends, family and significant others to come and visit – especially when a student has moved away. University can be a tough time for a lot of students, and this is only heightened when someone decides to move away from home and their family and friends. Having the option for people to come and stay can be extremely appealing for students when looking for accommodation.
Desk and Chair
It may seem obvious but having a desk and chair in the room room is essential to any student accommodation. University workloads are extremely high, with numerous assignments, research tasks and an immense amount of revision occurring outside of university hours. Having a desk and chair in a student’s room offers a private study space in the comfort of their own home and enables them to concentrate and get into the flow in order to get the necessary work done. A home study space also provides a place for students to organise their personal belongings - from laptops and photographs to revision guides and important documents – allowing them to keep tabs on where everything is should they need it.
Close to the University
Proximity to a given university was another important factor for a large number of the survey candidates. The majority of students will attend lectures in both the morning and the evening, with some starting as early as 8:30am and finishing as late as 8pm. It’s clear to see why students wouldn’t want their commutes in the morning and evening to be too long, and accommodation within walking distance is extremely sought after when looking for a place to live – even more so than being close to the city centre itself.
The survey found that another vital feature when looking for student accommodation was that bills were included in the price of the rent. University can be a stressful time for students and worrying about having to pay extra bills on top of their monthly rent only increases that stress. The majority of candidates in the study said that having things such as their water, electricity and Wi-Fi bills included in the price of the rent was key when searching for accommodation. This is already a common theme with most student flats and houses, as is makes the entire process much easier for both the students who only have to pay one fee for a given period and the landlords only having to chase one payment.
These are just some of the key features that students look for when choosing their student accommodation. Are you interested in investing in student accommodation? Click here to take a look through our listings and choose your perfect property!