Students no longer like to stay in dorms while pursuing their graduation and post-graduation courses. Most of them leave home for the first time and look for a home away from home at an affordable cost. This is why student housing facilities are booming across the nation and the world. These properties offer them dedicated spaces for studies, eating, cooking, entertainment, sports, and an area where they can interact with their friends and family.
Nelson Partners – Specialists in property management in student housing
Nelson Partners is a trustworthy and credible name when it comes to student housing, real estate, and property management. This company is privately owned and was founded by Patrick Nelson, who has 14 years of rich experience in the industry. It focuses on college students, and the team of skilled professionals here enters into partnerships and collaborations with the owners of properties so that they can rent out their spaces to students. The properties should be close to the university and college campus for them to qualify as student rental accommodation.
These units do not need a car space for students as most of them cannot afford a car. When it comes to renting out to students, the property does not have to be in pristine condition like the traditional apartments that are rented to regular tenants. The student just needs a clean and well-maintained space to pursue academic goals. Both old and new properties can be converted into student housing facilities. However, they should be close to the college or the university where the student studies.
Get regular income
The biggest advantage of renting out space to students is they will pay rent for at least two to five years. Both graduate and post-graduation courses last for a number of years, and this means students are long-term tenants. There is a misconception they will damage the property or will not pay their rent in time. This is not true.
Students do pay rent in time
Student housing facilities also have agreements with students, and parent guarantors back them. Though it has been discovered that students are very serious with the payment of rents, in case there is a delay in the payment of the rent, the landlord can always contact the parent and get the rent collection. However, such cases are rare, and it has been found that students are responsible payers of rent.
Even during times of recession, student housing is never affected. Education does not stop, and so you will have a stable source of income from the property. There are no advertising costs involved for promoting the property as students will know about your existence from their classmates. This means when a set of students finish their courses and leave, you will always have a new batch of students joining the college, and eventually, they will contact you for accommodation from Nelson Partners. There will never be zero occupancies in the property, as when some students leave, you still have the rest remaining to pay your rent.