5 min read
March 29, 2024
Letting out student accommodation is a great investment, with demand for this type of property continuing to rise. So, landlords who are keen on capitalising on the short supply of housing options should make sure they furnish it well, with the right flooring and fixtures and fittings.
What is the demand for student lets?
According to the most recent UK Student Accommodation Report from Cushman & Wakefield, there are 1,489,110 people in the country who are in need of this type of property.
While some people choose to stay at home for their further studies, a huge 96.4 per cent seek housing.
However, thanks to a short supply of suitable accommodation, the student to bed ratio stands at 2.1:1, meaning properties are getting snapped up as soon as they are advertised.
Thanks to this growing demand, landlords are able to make a good living out of letting out accommodation, as they have been able to increase rents.
In fact, rental growth reached 8.02 per cent in the 2023/24 academic year, with this increasing to 9.39 per cent for the private sector.
Private landlords can now expect to receive an annual rent of £7,632.55 on average, which makes letting students a good way to supplement their income.
How to furnish it to attract students
Although the shortage in supply means there will always be demand for properties, no matter what condition they are in, it is sensible to furnish it well. Not only does this encourage tenants to look after the property properly, but it also means landlords can demand a higher rent if the place is in good condition.
As it will see a high turnover of young people, it is not worth buying expensive fixtures and fittings, as there is a risk these could become damaged over time.
However, good-quality, durable items are important, as this increases the chances of them lasting as long as possible. Landlords will not want to replace their large appliances, furniture or fittings regularly, so buying ones that are long-lasting will save them money in the long run.
Your Move recognises that student properties “tend to suffer more wear and tear”, so landlords need to be prepared to spend more at the end of the tenancy to get it back into a reasonable condition. However, durable fixtures could minimise how much needs to be spent on improvements and repairs.
Why value carpet tiles are a good option
Value carpet tiles are worth considering when furnishing student accommodation, with these being just a few reasons why.
- Durability
As they are designed to last a long time, they are a great choice for student accommodation, which is more likely to become damaged in a short space of time.
Students do not have a great reputation for cleaning, so it is important to get flooring that can still look good even if it has not been vacuumed for a considerable amount of time.
The grey colours – in various shades – disguise dirt and dust easily, so the house can still look good even without frequent cleaning.
What’s more, if a glass of wine or tomato ketchup is spilled on to the flooring, this is less likely to be seen on the dark grey flooring than if a cream-coloured carpet had been installed.
The dark shades also do not fade under light, so the whole floor area should continue to look the same over time, allowing you to move furniture around without parts of the carpet being lighter than the other.
- Low-level loop pile
The low-level loop pile of the value carpet tiles also make it a good option, as it means they are less likely to suffer from wear and tear.
While really soft carpets with a high pile will see their fibres compressed over time, this is not the case for this type of flooring. Therefore, it will look just as good in a year or two as it does when first installed.
At the same time, this type of property typically does not typically see heavy traffic. Therefore, the low pile combined with the low footfall means it has a good chance of lasting a long time in a student residence.
- Tiles can be replaced
If, however, damage is caused to one or more of the tiles, landlords do not have to panic, as they can simply remove the affected tile and replace it without having to get rid of the whole flooring.
It is worthwhile buying some spares when purchasing, so that there are some tiles available if one becomes stained or torn. What’s more, if a tile needs to be lifted, such as to see the wooden floorboards underneath, this can be done without the whole floor having to be removed.
- Easy to fit
Landlords are under tight deadlines to get the property ready before their tenants move in after the summer break, with a lot of students renting for term-time only.
In order for residents to be in the building before their university term begins, it is essential the property is ready in good time.
As carpet tiles are small and easily transportable, they are quick to fit. Professional fitters can align them together swiftly, due to there also being less to cut off in awkward spaces.
It is useful that they are much smaller than carpet rolls, as this means spare tiles can be stored in the cupboard in case they are needed in the future.
Get in touch with the CVT Direct team via our Contact Us page – and make sure you have a browse through all our flooring and accessories products to see what you can find.
