For decades, many investors in the UK are turning into student properties because they have seen a rise in the needs for these kinds of apartments and dwellings. The increasing number of college students who prefer to live near their schools for convenience rather than spend time and money traveling to school is just one reason why there’s an increase in demand.
If you are one of the people who wish to invest in this kind of property, you must do some research before pouring all your life savings into this. You can know more about UK Investment Options available to you on the link provided and see if this type of investment is the right one for you. Here are some considerations that you need to understand first before buying.
Choosing the Best Locations
Location is everything, and it is essential if you are letting an apartment to a student. Houses in the suburbs that take two commutes won’t attract many freshmen than an apartment located at the heart of the metro. Most of the students have part-time jobs and night lives, and they want to go home to somewhere near their college campuses.
Students who have part-time jobs may be too tired to do anything else, and they also need to work hard for their rentals and accommodations. Others may be scholars, but they don’t have much time commuting and walking just to go home.
It’s better to purchase somewhere near the city or train rails if you want to get passive income every month. The tremendous number of people who decide to live in the cities every year is still growing, and house developments in the metro can be very profitable for you if you know what to do.
What the Current Event Shows
Before the COVID-19 pandemic, which affects many people worldwide, lots of college students live in housing properties as part of their overall academic experience. You can know more about renting guidelines during the pandemic on this site here. Most of the occupancy levels stayed at a constant level of 95%.
However, when the pandemic started in March 2020, many universities are moving towards online learning. The number of international students significantly dropped, and they have postponed studying in the UK for fear of the virus.
The good news is that there are still many managers who are enjoying a stronger occupancy rate because of lockdowns and the leasing volume of many properties is still normal despite the crisis. Many student residents choose to remain in their apartments rather than go home since there’s still part-time jobs slowly reopening during these trying times. Some choose to survive and work despite the risks since there may be smaller opportunities at home.
Some of the companies with apartment rentals are seeing a collection rate of 90%, as many students need to go to school for requirements. Since this is the situation today, investors should have stronger internet connections to get more tenants. It’s also ideal if only one person can live in one room, and they should have their own washrooms for safety.
Other Suggestions for Investors
Since the UK property is still alive and well, you may want to start looking for the best ones out there that can give you a substantial passive income and faster ROI. You can get in touch with a company that can give you virtual tours when looking for new apartments. The internet offers many opportunities for many investors today, so be sure to take advantage of it.
Physical viewing may not be a good option nowadays, but the online tours will give you an easier life. Know more about virtual tours here: https://www.hometrack.net/blog/why-3d-virtual-tours-are-loved-by-home-buyers-sellers-and-agents-alike/ . If you don’t plan to buy, the agent and the owner will save time and money in driving you around. You can choose properties that are ideal for students while you are sitting on your couch.
There are lots of opportunities out there, and you can find plenty of highly-rated universities in Newcastle, Birmingham, Oxford, Chester, Exeter, or Cambridge. You just have to get access to insider information for the available properties out there. You don’t have to visit the actual sites, but a virtual tour and valuation can open up doors for you if you consider investing in student properties.