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The UK student sector has changed a lot over the last few years. Privately owned halls of residence accommodation have become more common in larger university cities and towns, which means that private landlords operating student accommodation are having to work harder in order to compete for student tenants.
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However, according to new research conducted by the Accommodation For Students website, landlords are managing to do this quite successfully.
Landlord Success in the Student Sector
70% of student landlords were able to find tenants for all of their properties at the beginning of the 2014/15 academic year. Interestingly, though, it is the newer landlords who have having more success in this regard. 89% of landlords with three years experience or less managed to let their property portfolio whereas 65% of experienced landlords had the same success.
The figures suggest that newer landlords have a greater understanding of what students expect from their accommodation and have a stronger desire to compete with existing student accommodation.
“New landlords typically come onto the market with renovated properties offering a high standard product that are attractive to students and let quickly,” says Simon Thompson, managing director of Accommodation for Students.
87% of landlords felt that students were good tenants and 92% were happy to continue operating in the student accommodation sector.
Market Confidence
Landlords in London and Scotland have the greatest market confidence, with landlords in Yorkshire and the North West the least confidence. Property accreditation is also linked to landlord confidence, with landlords who own accredited properties more likely to be confident of their success rate.
