I’m often asked by investors whether student lets are a good investment in the area. After all we have the very well respected Brunel with around 14,000 students and a campus of Bucks University in south Uxbridge running nursing courses. Yields on student property tend to be higher than standard professional lets so the simple answer is yes, but potential investors need their eyes wide open to the challenges.
Students normally live in ‘Houses in Multiple Occupation’ which are one of the most heavily regulated sectors of the rental market. They are often licensed and need careful monitoring and attention to detail, but a good agent with local knowledge can help with this. There are also restrictions on setting up new HMO’s in Brunel and Uxbridge south wards and students naturally want to be close to campus.
According to Brunel stat’s their student numbers fell from 14,965 in 2011 to 13,909 in 2012, a decrease of 7%. I attribute this partially to tuition fees. One consequence is a current over-supply of student housing. As I write, there are around 500 bed spaces worth of property being advertised in the Cowley area alone. Traditionally student accommodation is let for the next academic year back in January to March time. So for landlords with student accommodation, especially larger property, this can be a worrying time. More students, especially from overseas, are expected to arrive looking for property in August.
We can help with student lets and there are other rental markets that Landlords can look too. If you would like more information call at our office on Hillingdon Hill, Uxbridge or telephone us.
