Student housing investments are highly in demand in the real estate industry primarily because education is always high. Students will always look for off-campus accommodation near their college and university where they can save time and money by walking to it. Moreover, besides students, you also have university and college office staff and other employees who often look for rental accommodation near the campus to save time and money. This form of real estate is hardly affected by recession or local crisis.
Nelson Partners – Student housing is better than dorms
Nelson Partners is a reputed name in the field of student housing and property management in the USA. This company was established in 2018 by Patrick Nelson, who has more than 14 years of valuable experience in the industry. This privately owned company focuses on college students and helps owners of properties to cater to them. The team of experts here is highly skilled in understanding the goals of the owners and aligning them to their expectations when it comes to the generation of regular income from student housing and keeping the occupancy rates high.
The average college student is not the same as a conventional tenant. First, most college students are looking for rental accommodation close to their campuses. This means you do not have to offer them car space. Mostly, students cannot afford cars, so they generally do not keep them with them regularly, even if they own one.
Secondly, students are concerned about the amenities that you offer them during their stay. For instance, they need a high speed wi-fi connection to access the Internet; they should have space to eat, cook and interact with their friends and family. These are the basic amenities that you should offer them as a landlord. Unlike the conventional tenant, they will not be bothered if there is a scratch on the paint of the door. They are concerned about studies and an environment that is conducive to their academic goals. This means your property does not have to be properly pristine when you rent out to students.
The advertisement costs for the promotion of your property are zero
This factor might surprise you, but it is true. The moment you get into student housing, college students will be aware of you states Nelson Partners. Since students study undergraduate and postgraduate courses, they will stay with you for at least two to five years. This means when a set of students graduate and leave, a new batch of students arrive fresh from studying at the college, and this means you will never have empty occupancy.
This is good news for landlords as they do not have to advertise or even list their properties for rent. They will get students every year, and some existing students might even stay back to pursue their master’s or doctorate degrees meaning an extended duration of stay and guaranteed income in the form of rents.