Any landlord who owns one or more properties in a university city can expect to see more students seeking rental accommodation shortly since according the latest figures, the numbers of students has increased by 5% from last year.
I have to confess, I was rather surprised by this news as, like most people, I was under the impression that a university education has become so expensive in the last couple of years that many A level students had decided to skip university and get a job instead. But obviously I was wrong!
So why is this good news for landlords?
Rental properties aimed at students can be a good bet if you want a regular income. Unlike many tenants, students are less bothered about the décor and whether or not the house has a garden and all mod cons. You can also expect a steady stream of tenants if your property is in a convenient location for the university or college, and with the average student rent increasing all the time, there is no doubt that targeting students is a good plan.
In the more popular student hotspots such as Edinburgh, the demand for student accommodation is at an all-time high, which of course is pushing rents ever higher thanks to the economics of supply and demand—always good news for landlords!
However, it is better not to be too greedy and risk losing a regular income from the local student population. With university fees rising, the cost of accommodation is likely to be the deciding factor when looking for somewhere to live; even more so than the location of the nearest pub.
