Attracting students to your property, whether it's a student block or a rental property near a university, requires some strategic marketing and property management efforts. Here are several tips to help you attract students to your rental property:
Location: The proximity to educational institutions is crucial. If your property is within walking distance or a short commute to universities or colleges, it will be highly appealing to students. In Leicester, The ideal locations are Clarendon Park and Westcotes for University of Leicester and De Montfort University Respectively. City Centre properties are ideal for student at both universities as well.
Student-Oriented Features: Highlight features that appeal to students, such as study areas, high-speed internet access, and security measures.
Competitive Pricing: Research the rental market in the area and price your property competitively. Students are often budget-conscious, so offering reasonable rents can attract more interest.
Inclusive Utilities: If possible, include utilities (such as water, gas, electricity, and internet) in the rent. This can make budgeting easier for students and make your property more attractive.
Flexible Lease Terms: Consider offering flexible lease terms that align with the academic calendar, such as 9 or 12-month leases that coincide with the school year. Some students will appreciate only paying from September.
Safety and Security: Ensure that the property has adequate security measures, such as locks on doors and windows, well-lit common areas, and possibly a security system if the area has safety concerns.
Amenities: Offer amenities that students appreciate, such as on-site laundry facilities (tumble dryers will definitely make your property a cut above the rest), bicycle storage, and communal areas for socializing.
Responsive Management: If you are wanting to manage the property yourself, be responsive to inquiries and maintenance requests. Good communication and timely responses can build trust with student tenants.
Desirable Furnishing: If you're offering a furnished property, consider that most students like modern furnishings with a sleek and minimalist design. Antique and highly ornamented furnishings tend to not be as popular with the younger generation. A neutral but light colour palette can really make a space feel both bigger and more homey which many students will appreciate.
How we can help to ensure you student property is a success:
We offer both a fully managed and a tenant find service. Whichever service of ours you intend on using, we can offer the following to ensure that your property investment was worth your while and successfully generates a return for you:
Online Listings: We can create attractive online listings on popular rental websites, such as Rightmove, Zoopla and UniHomes. We can take high-quality photos for marketing and detailed descriptions to showcase your property's features and amenities.
Virtual Tours: In addition to photos we can take virtual tours of the property, especially if students are unable to visit in person.
Online Reviews and Recommendations: We can encourage satisfied student tenants to leave positive reviews online. Positive reviews can attract more students.
Clear Rental Policies: We can ensure your rental policies are clear and easy to understand. This includes details about rent payment, maintenance procedures, and expectations regarding noise and behaviour.
Remember that students often rely on word of mouth and peer recommendations when searching for housing, so providing excellent service and creating a positive living experience can lead to referrals and long-term student tenants. Additionally, staying updated on local rental regulations and compliance is essential when renting to students.
Written by First 4 Lettings
