If you knew what features and amenities today’s university students are looking for, how would that affect your choice of investment property and your rent-ability?
Fortunately, we have a good grasp on what this young generation of renters want, and it might just give you some important insight.
University Park is a new student housing project in Florida USA which was designed to provide a “world-class experience for students.” Of course, not all students are in the market for luxury accommodations, nor have the budget to live in a property such as University Park. However, that doesn’t mean they don’t want some of the same things University Park has to offer.
What are those things? Here is a partial list of the services and amenities offered with a standard lease:
- Limited access entry gates
- Secure indoor bike storage
- Community wide 1GB wireless access
- Fully furnished apartments with flat screen TVs
- Energy efficient appliances
- In-unit laundry
- Yoga studio and Cross-Fit room
- Modern kitchen design and furnishings
- Covered BBQ grills
- On-site maintenance and management teams
- Conference and study lounges
- Free transportation to and from campus
Of course, some of these items aren’t practical in many rental properties. However, you might be able to adapt some of them to your situation. For example, maybe you can’t provide on-site maintenance and managers, but you can choose a proactive property manager who will handle enquiries promptly. And adding a few simple extras can make a big difference when it comes to appealing to students – for example, a fire pit, a hammock, or high-speed Internet access.
If you want to attract this younger crowd, keep in mind the kinds of things college students want: a place to socialize, a place to study, and easy access to campus, and then think of ways to adapt your property to better suit their needs and desires.