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Students 'want purpose-built flats'

21st February 2012

For many students part of the appeal of going to university is to experience what it is like to find a home of their own and to get out from under the feet of their parents.

They like to look for rented accommodation that is suited to their needs, whether this is based on infrastructure, location or price.

With this in mind, landlords need to have a good idea or what students are actually seeking in the current housing market if they want to ensure that their property has a good supply of tenants.

Peter Mindenhall, researcher at IPINGlobal.com, has said that the conventional student property was changing.

He explained that the traditional converted semi was losing its appeal in favour of purpose built property.

"New-build developments with planning approval and support from the university and local council are the primary things to consider. Some developers will also include management services or companies which will appeal to more active investors," he noted.

Such an undertaking is a substantial investment and one which landlords will be loathe to lose in the event of a fire or subsidence.

A robust financial plan such as block of flats insurance will provide the type of all-encompassing cover that those who provide student accommodation may need.

Block of flats insurance can ensure that landlords have the required cash flow to fix any property damage that would otherwise prevent students from living in the building.

Landlords will know that if they make a big investment then it is vital to keep the flow of rental returns steady, as they look to pay off any mortgage deals that they may have.

A recent report from Knight Knox International found that there has not been a decline in student numbers despite the forthcoming rise in tuition fee costs and existing facilities are struggling to cope with the demand for housing.