RESIDENTIALlettings
University challenge
R
The contest is on for the traditional student-let landlord. It could be time to raise the game or lose business.
esidential sales agents and letting agents located in towns with universities know exactly how important the student population is for their business. Landlords enjoy the high
demand, so will keep on buying property, constant turnover of the student population guarantees good rental yields and encourages investment, leading to healthy business for the agents who sell and let the properties. Many agents offer student rentals along
with other services profiled to meet the specific needs of student tenants and their landlords. With an average additional spend of £3000 per student annually within the local economy (in addition to fees and rent) student business is big business. But is the traditional slightly grotty student house offering being sidelined
It could be a city banker’s pad but actually its a student block
by the big boys providing today’s high spec version of Halls of Residence? If it is, then letting agents and their traditional base of student lets owned by landlords with relatively small portfolios, may be in danger of losing out. Propertydrum looked at who is pushing
into the ‘sophisticated student’ market and who, if anyone, is providing a lower key alternative to maintain the traditional letting model.
‘Student accommodation has become a powerful niche
property sector attracting institutional investment.’
PHILIP EVANS PEX SOFTWARE
INSTITUTIONAL INTERLOPERS
Student accommodation has become a powerful niche property sector because it has been able to attract investment from institutional investors. The main providers UPP, Liberty Living and UNITE have tapped the appetite of funds and institutional investors eager to invest where the portfolio is sufficiently specific, robust and proven to deliver high returns. Institutional investors like Aviva,
landlord operators like UPP and UNITE and agent operators like CRM and Mainstay are offering modern accommodation with levels of living that the independent landlord with a few properties would seriously struggle to match. These new build or totally refurbished properties offer such ‘luxuries’ as wi-fi, laundry, utilities, gym, bike stores and insurance within the rent. Some have
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68