Student market becoming more challenging
It used to be the case that landlords looking to provide rental homes to students would be accessing some of the easiest ways to bring in yields.
Student properties were among the easiest to rent out for a long time, but one expert has said that with so many people now offering this type of UK property, the market has changed.
James Davis, chief executive officer of Upad.co.uk, said that students are becoming more demanding than ever when it comes to renting a house which offers all that they want, which means landlords need to work harder to secure tenants.
With the cost of fees rising to £9,000 per year, students want more from their whole university experience.
He said that offering students extras has become one of the best ways to make sure that a property stands out from competitors.
Aspects such as a power shower, or the cost of Wi-Fi inclusive in the rent charge are sure fire ways to make sure that students are finding what they want.
Mr Davis also went on to add that the most important aspect of any landlord's strategy should be looking out for the best ways to advertise their properties, due to the fact that people scarcely search for a house on foot or in agent offices anymore.
"Make sure students can find your property. More and more tenants are looking online to find the next rental, they are no longer walking down the high street. Therefore make sure you use an agent that advertises on Rightmove and all of those other big websites because that is where tenants are looking."
He also said that when you are coming to the time to buy and invest in new pieces for the portfolio, it can be essential to do some homework before buying.
"You need to look at where the number of applicants are increasing. That will probably be the traditional strong areas at red brick cities and towns, rather than where the newer universities and polytechnics are et cetera. You need to look at demand in that area," he added.
Posted at 04:11 26/07/2012