You have probably noticed that there is a fundamental shift in university accommodation in the last few years. Once considered cheap, nasty, aging constructions, universities are aggressively expanding their own portfolios of student accommodation and giving mass overhaul to their existing properties. Further, private providers are building halls and getting in on the market, offering choices of closed communities in sparkly new buildings.
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Why Now?
Education is now expensive; as a result, students want the best deal they can get. They no longer want the older, run-down accommodation on offer from the university. Private investors are buying up lucrative land near to universities and putting pressure on the market. As a result, universities are expanding their own portfolios. It feels like a free for all, but there is no reason for you to be left out of this new market.
How You Can Improve Your Properties
There are things that you can do, now, to improve the attractiveness of your property or properties to prospective students.
Bills inclusive
Most 18 year olds don’t know how much water, gas and electricity will cost. In some cases, they will get a short, sharp shock when that first bill arrives. If you advertise your property with all bills included, they will know exactly how much they will pay. The ease of not having to set up accounts for utilities can be an attractive proposition.
Wi-Fi Inclusive
Another thing present in these new builds is inclusive Wi-Fi. As it can take up to two weeks for any network to install the internet, this is not student friendly. Knowing they can move in, plug in and tell their parents about the moving in experience within the hour will often be worth the extra cash, especially if it is transmitted over superfast broadband.
Go Green
Rip out your old boiler and put in a new energy-efficient one. Going into a cost saving plan like Economy 7 can also be an attractive selling point for the planet-conscious Generation Y. Replace old appliances with the most energy-efficient you can find. The ability to save money will certainly make your property an attractive one. The new builds going up will already have energy efficient systems.
Refurbish
The same old tatty furniture, stained carpet, broken banisters and aging double-glazing with condensation on the inside is no longer going to have students falling over themselves to live there. Now, that is even truer with private options and brand new buildings available. Refurbishment will cost money, true, but with astute choices you could even afford to put your rent up.
Improve Security
The one thing that these new student communities offer to students is security. There may be a gate access code and other security measures. Students are more protective of their meagre possessions than ever before and if they feel their possessions might be stolen or damaged, they will look elsewhere.