CPS Homes

Our average student rent is £320 per bedroom... with many achieving between £350-£370

CPS Homes for rent signsWe recently wrote about the number of Purpose-Built Student Accommodation (PBSA) developments being built in Cardiff. Whether it’s in a year or in five years, the cost of living in a PBSA room eventually won’t be too different to the cost of living in a traditional house-share room, meaning students will have a choice to make. Currently, cost is forcing their hand, but it won’t be that way forever. It’s therefore important that landlords have their eye on the ball and keep their properties in line with current market standards.

PBSA aside, the standard of student properties has improved rapidly over recent years, and we’re regularly letting rooms for £350-£370 per month. Those achieving less than the average £320 rent typically require upgrades in some way, shape or form - even if it’s something very minor - so it’s well worth us conducting an assessment of the flat or house if you’re not achieving this average rent figure. We’ll then feed back to you with considered improvement advice.

Make your rental property appeal to students

As crazy as it sounds, students will start to look for 2018-2019’s accommodation as early as November (less than a month away!), so now is the time to assess what work, if any, you’re going to do prior to them occupying in order to secure the highest possible monthly rent. Current trends amongst new student lets include;

  • Modern, matching furniture (typically from IKEA)
  • Washer-dryers (or a separate washing machine and tumble dryer at the very least)
  • Wall-mounted TVs
  • Bike racks
  • Mirrors in bedrooms and bathrooms
  • Shelves in bedrooms
  • Metal bed frames instead of divan bases (allowing for storage underneath)
  • A bills included option in the rent (gas, water and electricity)

Book your property assessment today. Contact us on 02920 668585 or email: rhys.owen@cpshomes.co.uk. We’d love to meet you there!

27 September 2017

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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