Being a student landlord is undoubtedly one of the toughest jobs out there; who would base their sole income on a group of young adults who have never lived away from home before? However, it’s also one of the most resilient sectors of the property market with many experts pointing out to buy-to-let landlords that there will always be students. With the exam period now in full swing and many students beginning their search for somewhere to live ahead of the new University year in September and October, now is the perfect time to start thinking about preparing an investment property for rental. Because rental yields are almost guaranteed – as students typically live in rented property – getting a let ready for studios new tenants begins now.
How Much can Student Rent Yield?
Competition for student tenants is intense thanks in part to the rent a student room can command. A study by the estate agent Heart found that students in Cambridge pay an average of £97.25 per week. Students in Bristol pay an average of £96 per week – with a two or three bedroom property, that adds up to serious income. With so many bodies sharing one or two communal areas, getting the bathroom right can set a house apart from the competition and help to justify the premium room rates.
Gone are the days when most students would be happy with a dated kitchen from the 1970s and a bathroom that looks as though it has never seen a refit. Students now, with their maintenance loans and grants, are better placed to search for higher quality properties with better facilities. Installing a luxury bathroom suite within the house can not only ensure that the property is snapped up immediately every academic year, it will also give the students a modern, functional space where they can stumble out of bed and prepare for lectures or get ready for a fresher’s night out.
What to Consider when fitting out a Student Bathroom?
Many bathrooms within student accommodation will often be shared between four or five people. This means that adequate bathroom storage is a must; invest in several sets of shower shelves so that everyone can keep their toiletries separate, and consider fitting multiple cupboards. A simple, functional white gloss bathroom vanity unit with its integrated storage under the basin would provide adequate space for cleaning supplies and spare toiletries.
Fittings & Fitures
In any student property it is worth investing extra in high-quality fittings and fixtures to minimise the chance of an early morning maintenance call. Bella Bathroom’s complete bathroom suites are available in a range of designs, with both modern and contemporary styles, and are robust and durable.
As well as the essentials such as bathroom sink, toilet, bath and shower, it’s also worth providing extras such as toilet brushes, mirrors and washable nylon shower curtains. The students may not leave the bathroom immaculate once they vacate the property but landlords should provide them with the means to keep it in the best condition they can. We offer an extensive range of bathroom accessories which give them no excuse not to be bathroom tidy!
Additional Bathroom Areas?
Many student properties, which have converted living rooms and attics into bedrooms, will often span three or more floors. In this case, landlords should consider fitting an extra toilet, cloakroom or shower room if space permits. Installing one toilet per floor – either a space saving wall hung toilet or a traditional WC – is seen as good practice for landlords, and students will appreciate not having to leave their revision in the attic and head all the way down to the ground floor to use the bathroom. Added shower rooms or even the possibility of small en suites in larger properties can give landlords the right to charge a little more for their rental prices. This also benefits students who want to pay a little extra for an element of privacy.