A new report ‘What Students Seek’ has surveyed students around the country to gauge what is most important when considering a property to rent. Despite three quarters of students surveyed being satisfied with their shared accommodation it is important for landlords and agents to be aware of changing priorities.
‘What Students Seek’ is an annual report commissioned by Glide Utilities that investigates what students look for in their shared accommodation, pulling out trends and insights for landlords and letting agents to make sure their properties meet the changing demands of students.
In terms of what students look for, the most popular items include:
- Fast internet: by far the most popular item on students wish list, 83% highlight fast internet as something they look for specifically
- Inclusive bills: 74% say this is an essential or important when choosing a property
- Double beds: 61% of students want double beds
- Big, functional communal rooms: 59% of respondents said they were after large living rooms
- Location: 55% it’s very important to be close to the University
- Transport: 31% highlight the need for good transportation links
While some of these items can be tricky to implement, there are steps landlords and agents can do to make properties attractive. Storage is a concern, and installing wardrobes and other storage spaces can be attractive to tenants.
However, is setting appropriate rent is easily done. The national average weekly rent for students is £95, which nearly half of students think represents good value for money. However, it is important that you pay attention, and keep in line with typical local rents.
James Villarreal, CEO at Glide Utilities said of the findings; “The secret to gaining student appeal in 2015 is definitely ‘more is more’. While the majority of students are satisfied with their accommodation, we can’t ignore the fact that this figure is gradually falling. This isn’t because conditions are slipping, necessarily, but that student expectations are rising. We’ve seen this in our own business and have made changes to keep attracting more customers. Our findings highlight exactly what students seek, when it comes to private rented accommodation, and will help landlords and agents make the right practical, changes, without breaking the bank”