We know that students are an easy-going bunch when it comes to accommodation. They are generally more reliable, pay on time more often, and don’t tend to complain much. It’s been reported in many industry reports over the years. But now, a new report has looked at it from the other end and concluded that students have a net positive opinion of their landlords.
Students and their Landlords Get on Well
This goes against the belief that landlords or exploitative of student tenants. It also challenges the perception that students don’t trust their landlords.
- Some 63%, that’s nearly 2/3 of the student population, claim they are happy with their present living conditions
- Around 51% - that’s just over half – felt that they were getting good value for money on their rent
- A small minority said they were unimpressed with their landlord’s behaviour, particularly when it came to communication. 7.5% of students reported this
Renting to Students Makes Good Business Sense
It’s been known for a long time that based on yield, reliability and demand, the student property market is a good investment. Also, with a backed guarantor in the form of a parent and a steady income from loans and grants, students are proven reliable repeatedly.
But it’s not until now been investigated from the perspective of the student body and what they feel about their renting experience. Most surprisingly, they are happy with the accommodation itself. Once again, this challenges the stereotype that student accommodation and the furniture and utilities within it are outdated or otherwise of poor quality.
Students Also Happy with Purpose Built Accommodation
The latest survey followed hot on the heels of another survey late last year concerning purpose-built accommodation. These are the growing number of what are called “student villages”. Sometimes built by universities and sometimes by private contractors, it has been both an opportunity and a challenge to existing landlords of students. The amount of purpose-built stock has increased dramatically in the last couple of years with no sign of abating.
It seems that students are a generally happy bunch regardless of how and where they choose to live. 76% of students living in purpose-built accommodation are happy with their choices. Last year, some 30% of the student population lived in this type of accommodation. 69% of students would recommend it to upcoming first years if asked.
It’s a small number living in PBSAs but growing. There is a threat to traditional stock, but plenty of opportunity to compete too. That is why Pads for Students inventory of student accommodation includes a range of available accommodation in private halls of residence.