It’s not a secret co-living in places like Manchester, Sheffield and Leicester is growing in popularity. A growing number of tenant landlords for students tap the huge number of tenants who are looking for high-quality student housing in these cities of universities and new developments are appearing in droves across the nation.
Manchester is in the middle of this trend and has witnessed the creation of the first UK-specific co-living project that has the totality of 900 bedrooms for young professionals and students to lease close to Manchester Piccadilly train station due to be completed within the next few days. Sheffield has currently five co-housing associations within the city that cater to the requirements of the students.
If you’re a student landlord looking to expand their property portfolio, and get an excellent return on investments outside London, Manchester offers an ideal opportunity to expand and appears two times in this listing of student-friendly accommodation locations with the highest rent returns. Manchester is certainly an area to keep an eye on in case you’ve been thinking about growing your existing HMO inventory this year.
Co-living hasn’t only taken off in the student housing market also. The idea of co-living aims to create a bridge between private and public use and provides a fresh possibility to create a more feeling of community with private and public areas.
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This kind of living provide an element of socialization to the overall experience of students It also aims to tackle the current housing crisis. The concept of co-living is being welcomed by developers as well as student landlords on the student lets market as a beginning step and many students are in favor of the idea of living in a house with students from the same institution.
The perceived benefits are a better social life that can help combat loneliness, and also making new acquaintances during their time at university. Since this is such popular in the present it’s not surprising that landlords are seeking to enhance their HMO inventory by making their homes more appealing to students ahead of the beginning of the academic year that is coming up in a couple of months.
Interior design trends for student co-living
First impressions are crucial in attracting students to HMO or co-living units. Many landlords are updating the housing stock with new features and decor to maximize the benefits of the growing popularity of students sharing the same residence.
Instead of trying to squeeze in the maximum number of student tenants it is possible to make the most profit smart owners and pioneers of the market are putting greater emphasis on creating attractive social spaces. There are more multi-use areas being built to help assist in this essential aspect of the student experience.
Living rooms which double as study areas for groups to kitchens with dining areas making the most of space for students to spend more time with each other is viewed as an advantage for potential tenants of student housing However, this comes with its own issues.
Based on the National Student Accommodation Survey 2019 The main issue with housing for renters who are students is the noise created by their housemates. Tenants who are loud can disrupt the sleep or study schedule, so it’s a no-no for renters who are young. A majority of student tenants said that the noise generated by living with household members was their primary problem. A lot of new developments are focusing on the layout of new homes to address this issue with a clever layout, which means private quarters are in the most secluded areas as it is feasible.
Private landlords of private students with an existing HMO stocks, the capability to implement the same procedure isn’t economically feasible in the majority of instances So, instead, soundproofing some rooms as a means of solving the issue of noisy neighbors could be a viable alternative.
With 54 percent of the student population living with private landlords it’s these benefits that can be the difference between vacant rooms and a lengthy list of students waiting to sign the student tenancy agreement.
The decoration is equally important obviously but don’t undervalue the importance of giving your privately-owned student accommodation stock a fresh look. The goal is to make the home appear new and appealing visually.
Some good examples include adding a pop of color using colorful paints or geometric wallpapers to brighten dull rooms and create the impression of chic style without spending an enormous amount. For the best results try to extend this concept across the entire property, starting from common areas like the kitchen area and even into the bedrooms for a sense of continuity in style. This easy tip can create a luxurious and luxurious look to the space.
Furniture and storage
The other essential elements of a living space that are shared are furniture and storage. As technology becomes smaller and more compact students are more inclined to part with desk space to store their belongings in additional places like wardrobes and drawers for their belongings.
Desks remain a crucial element in student housing that is co-living but they shouldn’t be ignored. You should instead look for desks or chair sets with integrated drawers that can also double as dressing table. This lets tenants maximize their space usage by having additional storage space for books and personal belongings.
Students are also shifting away from the single bed in favor of double or queen size beds because that is what they’ve become used to in their homes which is why the more homey features you can incorporate into your student housing, the more appealing.
Another way landlords of students can help promote co-living within their HMO properties is to make sure that there’s enough seating for everyone in the household, with a few additional seats for guests. This can be accomplished by installing furniture that is modular in the living spaces by providing seating cubes which can be put away or put away for storage when they are not being used, and furnishing them with light and vibrant plastic furniture that is able to move from one room space with ease.
Another trend that the market for student housing is witnessing is the indoor/outdoor style with a variety of plants and natural hues coming inside. The latest developments in cities like Manchester, Sheffield and Leicester are typically limited by the quantity of outdoor space that is available and any landlord who is fortunate sufficient to own an outside space must make the best use of it. It is essential to create a safe and appealing area for the household members to gather and take in the fresh air.
Plants, artificial and synthetic are a fantastic option to keep outdoor spaces beautiful all year long without having to ask tenants to use their free time doing garden chores. This keeps the air clean, neat and inviting and will encourage more interaction between tenants since they’ll have the option of yoga in the morning or outdoor dining whenever the weather allows.
Practicality is also a factor in determining the design of interiors. Students landlords should select durable and easily cleaned equipment and furniture for the student housing redesigns.
In addition, pieces like vinyl or laminate flooring, and plastic-coated tables and work surfaces simplify maintenance and more durable, but their durability also ensures that they last better than other natural substances like wood.
Thus, select the materials and color schemes carefully, and you’ll not be worried about whether your tenants are taking care of them as they ought to. If you’re unsure, think about advertising your student-run co-living unit as a high-end cleaned and maintained accommodation that is cleaned each week.