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The student housing market has developed over the last 3 decades. At the outset there were a relatively small number of university towns and not a heavy demand for student housing. But during the 1980s and 1990s with government higher education targets and many polytechnics becoming Universities (such as Sheffield Hallam University), the student housing market has exploded into a unique market of its own with excellent investment potential.
In 1997, the number of UK students was 1.8 million and within ten years this has sharply risen to 2.5 million! Many researchers and academics expect student numbers to hit 3million by 2014.
The demand for student housing will continue to grow as by 2010, the Government aims to have 50% of all 17-30 year olds into higher education which also means more and more students living away from home.
The biggest growth areas within the student category have been undergraduates and international students. Sheffield University, Sheffield Hallam University and Sheffield Residential can confirm this is certainly true in Sheffield!
It is predicted that by 2018, approximately 21% of all students in the UK will be international students. Sheffield Residential has seen a larger proportion of international students to Sheffield than ever before, in particular, students from China, Malaysia, and Saudi Arabia.
A concern is the increasing levels of supply of student accommodation in Sheffield. Not only is there the Universities own accommodation but a number of purpose built student blocks that no longer just offer student rooms (very much like halls of residence) but student apartments and usually with all bills included and en suite facilities!
Added to this is that many developers and property companies are now offering their properties to both professionals and students and no longer discriminate against students.
So it seems more and more big corporate landlords join the student housing market, so there is certainly more on offer for students.
As for the purpose built student blocks, Sheffield Residential can confirm that student feedback confirms that not all students want to live in that sort of set-up and prefer private apartments and houses.
The student letting market is a niche market for landlords but one that can be very rewarding if a landlord gets it right!
Today's students are demanding a higher standard of accommodation than ever before coupled with the fact the student property market is more competitive than ever but landlords who do their homework and use a letting agent with strong links with the student community such as Sheffield Residential, can always do well.
As a minimum, your property needs to be/have the following features:
These are extras which would give your property the Wow Factor:
Students tend to have a high degree of wear and tear so ensure you have:
Sheffield Residential has a strong student tenant base and has looked after student property landlords and student tenants for years. We have a proven track record and are registered with the University of Sheffield and Sheffield Hallam University.
We invest highly within the student PR market and have been sponsors of the Freshers Fair and the sponsor of The Student Directory for 2 years. We also advertise in the highly successful national The Student Pocket Guide and Homes for Students so we can help you all the way with your student lettings where local knowledge, knowing what students what and what they avoid is crucial.
Our experienced and efficient team can assist landlords all the way with advice on health and safety regulations and in particular to HMO (Houses in Multiple Occupation) Licensing and Housing Act legislation
Sheffield Residential can also advise landlords on how to maintain an acceptable standard of accommodation to ensure value from property investment