While finding and furnishing the ideal property is essential, one of the most critical tasks in letting student property is marketing the accommodation. Even if you had the best student accommodation available at a fair price, it wouldn’t matter if no one knew the property was open to let. Therefore, you need to ensure you reach your audience, and at Student Circle, we are pleased to say we have helped many landlords let to students in and around Coventry.
If you are still to be convinced about why you should let to students, consider these benefits:
· There is a strong and consistent demand for student accommodation
· Students are looking for a 12-month rent, which means once you have a tenant in, they will usually be there for the full year
· Equally, with a year’s commitment, you can review your activity on a regular and annual basis
· Student accommodation traditionally offers an attractive yield
There are challenges letting to the student market, but there are difficulties when letting to any tenants. Modern students are more mature than previous generations, and while there are risks associated with this market, with insurance and property management, there is no need for landlords to feel as though this is a risky investment.
Once you have decided that letting to students is a suitable option, it is vital that you effectively market the property.
Standard marketing opportunities are suitable for student lets
If you are familiar with traditional letting marketing, you have a good starting point in letting to students. The advent of online property portals has made searching for rental property straightforward, so listing property on these sites is a great starting point.
You should also contact local universities and colleges, as they may have platforms where you can let directly to local students. Some further education institutions aim to be proactive in recommending reliable and reputable landlords and student lets, so if you can engage with these bodies, you’ll find that promoting student lets become much more manageable.
Also, don’t overlook traditional avenues to reach students. Noticeboards in the student union or shop windows in the local area offer fast and cheap ways to promote your rental options. Whether you are an old-school landlord or you are comfortable with modern technology, you should find that you can market your rental accommodation quickly and effectively.
Don’t forget to take good-quality images
When marketing your student accommodation, don’t underestimate the importance of images. Good quality photographs are essential in all property marketing, and student letting is no different. Stage your rental property with students in mind, and hire a professional photographer to create the best images.
You’ll be surprised the impact great images have on people searching for student accommodation, especially online. There is a lot of competition in the student rental market, so you need to ensure your property stands out from the crowd. High-quality images stop people scrolling and ensure they pay attention to your listing.
If you have the time, create a video walkthrough of your property for even more engagement and interaction. Students are incredibly comfortable with video footage and social media, so showcase your property on these platforms in the best way.
Marketing your student accommodation doesn’t have to be challenging. If you need support in reaching tenants in and around Coventry, contact Student Circle, and we will be delighted to help.