The volume of investment in student property in the UK reached a record £5.1 billion in 2015, more than doubling the figure achieved in the previous year.
The report, carried out by a property firm has found that investment in student property accounts for 7.12% of the total UK commercial real estate investment – and further growth is expected. Rises in rental value are also predicted with a 3.5% uplift over the year – further adding to the appeal of student property investment.
Student property in Birmingham
Birmingham has a strong student presence. It is the UK’s second largest student city with five universities and two university colleges including Aston Birmingham, University of Birmingham and Birmingham City University.
Home to over 65,000 students, the city has a high need for short-term student accommodation – meaning investment in Birmingham’s student property has also grown.
The common perception that students leave the accommodation in a poor state is often unfounded. However, many students are often inexperienced at tidying and cleaning for themselves and this can certainly lead to issues when they move out of their accommodation. With the backing of their student union behind them, landlords can be blacklisted for not returning deposits – which may be fully justified because of damage caused.
This makes it even more important for landlords to thoroughly assess the condition of the premises and decide what needs to be put right before the next tenant moves in.
Student accommodation inventory services
Skribes, Birmingham’s leading independent inventory and property services specialists, provide landlords with inventory reports, check-in reports, interim reports, check-out reports and legionella reports, all of which aim to minimise issues that arise when a tenant’s contract has ended.
To find out how we can help you make it easier to manage your property, call us today on 07891551905 or email info@skribes.co.uk.