With a growing number of purpose-built student accommodation blocs coming to fruition across Wales and England, many landlords with older properties to let may find themselves unstuck unless they find a way to up their game in order to compete effectively.
Until the recent purpose-built student property boom, landlords typically found letting property to students relatively straight-forward, as they could buy an older property, furnish it with second-hand beds, sofas and desks, then simply charge a regular rent that would cover the course of the academic year. However, the current shift in student accommodation means it may no longer be quite so straight forward for these landlords to attract students.
With private developers entering the student property scene on a much larger scale than ever before, more and more contemporary accommodation in sought-after locations is becoming available, and these purpose-built student flats are proving to be far more popular than traditional student shares. Therefore, we are seeing a real shift as many landlords are deciding to pull themselves out of the student rental market and try their hand at appealing to mainstream renters instead.
Historically, when provided with a choice, many sharing students do typically tend to prefer traditional properties as opposed to the tiny rooms typically offered in student halls - especially mature students. But, landlords with these traditional student properties may need to significantly up their game if they hope to remain an appealing choice for this segment of student renters.
There are a number of things landlords can do to present the property in a better light and remain a great option for students, such as ensuring the property is inviting from an external point of view, as well as internally painted and decorated to a good standard, and thoroughly cleaned throughout. For an even bigger impact, landlords may want to consider the inclusion of utility bills and/or Wi-Fi connection as part of the package, as this will make the property a more financially attractive proposition for students working within a budget.
Landlords could also consider the following:
If you’re a landlord in Cardiff looking to get the most out of your property by letting to the growing student demand we have in many areas of South Wales, or if you’re a student in Cardiff searching for the perfect property, then get in touch with our experienced lettings team to discuss the best way forward. You can contact us on 02920 668585, e-mail us at email@example.com or pop into one of our friendly branches, conveniently located in Cathays, Roath or Cardiff Bay.