Nelson Partners on The Reasons Why Student Housing Is Dominating the Real Estate Market Now
The student housing real estate market is booming primarily due to the fact that it is resilient even to the economic downturn and the recent coronavirus pandemic. With lockdowns and social distancing rules imposed in several parts of the world, education did not stop. Schools, colleges, and universities were conducting online classes, and those students who lived off-campus continued studying from their dorms or rented student housing accommodations. Landlords received their rent on time, and even if some did leave for their homes, the rest of the students preferred not to travel and expose themselves to the risks of the coronavirus who stayed. This means property owners got a share of income even when everything was shut down to contain the virus.
Nelson Partners – Potential investors are now highly interested in student housing
Nelson Partners is a highly reliable name in the arena of student housing and property management. Founded in 2018 by Patrick Nelson, a credible name in the real estate industry with more than 14 years of valuable experience under his belt, this privately owned company has carved a niche for itself in the market. It has a team of qualified and highly skilled real estate professionals who focus on the significant needs of their clients when it comes to the acquisition, development, finance, and management of real estate investments linked to student housing across the nation.
Why is student housing booming?
In the past, students had to stay in dorms as they could not afford the rent of apartments near their college campus. They have been crammed in a small space, and many of them had problems studying, eating, cooking, interacting with their friends and family. Real estate investment has always been lucrative, and so when some property owners decided to lease their buildings to students, it was found the venture was highly profitable yet economical for the property owner. Students generally do not look for pristine living conditions, unlike the traditional renter. Even if there is a scratch on the door paint, they are hardly bothered.
Why are students, good tenants?
If a landlord decides to rent out the space to students, they will focus more on their studies over being fussy about the amenities they expect to get. What they need is a quiet place for students and a comfortable space to sleep, eat, cook and carry out their daily activities as a student. Of course, they need some basic amenities like high-speed Wi-Fi, a kitchen, a common space to meet friends and family. These spaces can also be accommodated by any landlord for the student without any hassle at all.
Getting the rent on time from students is also not a problem. Maybe some students will have problems with paying the rent on time; however, they are generally backed by parent guarantors, so landlords will get their money, and there are no losses points out Nelson Partners. However, in order to enjoy the advantages of student housing in the long term, the property should be close to the college or the university campus to be profitable even when there is an economic downturn.
