Landlords: How to make the Student Housing Market work for you?
LPG Property Management in Portstewart
2nd January 2019
Tenants cover a wide cross section of the market and sharers are still very much part of this. Saving for a deposit is still a daunting task for many younger and not so young people and staying at home with parents and relatives sometimes seems the only way to achieve this.
However the sharers market is still thriving as the desire to move on for not only independence and education but sometimes for employment is still a factor in many people's lives.
Students of course fall into this category too and during this summer period Student Landlords make the most of the break to carry out essential repairs and improvements and also enjoy the fruits of the property for their family and friends.
The Student market demands high standards. No longer can any old mismatch of furniture be adequate to keep the rental prices high. Many universities have created their own accommodation now which is meant to attract all Students and not just those in their 1st year. Many of these are modern buildings with excellent facilities and a Student Landlord will need to compete with them. So although the student market may be their target audience the university may have become their stiffest competition.
If you have or own a property within the vicinity of Coleraine University please do call us about how and when to market your property to achieve occupancy and the best return possible. It may mean that you will need to invest in broadband or new furniture but the local business owner and his staff will be able to advise you accordingly.
Non student sharers may be looking for other important factors when searching for accommodation but we at LPG Property Management Ltd. will always ask the correct questions to ensure that we find the best match between Landlord and Tenant. We feel the secret to managing your property professionally and effectively (please visit our section on testimonials from happy landlords) and for you is selecting the right tenants (s). We personally show ALL of our tenants around all of our properties thus getting a feel for what their wants and needs and aspirations are. Therefore finding out who they really are and how we can all work effectively together.
If you are targeting the sharers market consider the room sizes - can all the bedrooms take a double bed? Are there sufficient bathrooms facilities for the number of sharers?