Despite the well documented financial problems that students of today face, the number of people attending university in this country is growing fast. This has led to a huge demand for high-quality but suitably-priced student accommodation.
Reports have suggested there are almost 300,000 students in London alone, but only around 60,000 beds that are on offer from the cities’ universities.
The parents of these students are fully aware that prices are at an all-time high, which has led to investors rushing to this sector to snap up bedsits and small flats. Buy-to-let property investors are now increasingly turning to student flats to add to their property portfolios.
Although there is great potential in any buy-to-let housing scheme, investors will still need to make sure they do their homework. The first thing an investor needs to consider is whether they are going to invest their money in a particular student housing project or opt to go it alone and complete the work themselves on a Houses in Multiple Occupation initiative.
Each option holds their own benefits, with an investment project being very hands off, meaning there is little work that needs to be done by the investor. The DIY method may well be more financially rewarding if done right, but it involves a lot of work to ensure that the level of accommodation is of the same quality as the specialised projects and to meet the multitude of laws and regulations.
Investors who want to add student accommodation to their portfolio need to make sure they can get their hands on the required funds. Additionally, they need to be sure that their pool of tenants are going to be there for the long term, while they should be very aware that the setup required for student housing is likely to be unsuitable for any other type of resident.
Sheffield has two major universities, both extremely popular plus many other colleges and higher education services making it a prime location for investing into a Buy To Let property.
If you are an existing landlord or potentially a first time landlord get in touch with Belvoir Sheffield today to take advantage of our vast expertise and experience to ensure you are getting the best advice. Contact us today on 08452 60 40 90 or email us at sheffield@belvoirlettings.com
Source: http://bit.ly/VfOSj6
