Being a property owner close to a college or a university can bring you significant rewards today and in the future. If you have space and often rent it out to families, you should consider converting that property into a student housing unit. These units will bring you more revenue and income from renting them out to a family. Moreover, with the demand for education rising and both local and international students coming in regularly to study at colleges and universities, you will never have zero occupancies. You will have a set of students moving in, and they stay for at least two to five years, assuring you will be accruing regular rent irrespective of how the economy of the nation performs.
Nelson Partners – A popular trend in the real estate industry today
Nelson Partners is a reliable student housing real estate developer in the USA. It was established in 2018 by Patrick Nelson, a widely esteemed expert in the industry with more than 14 years of valuable experience under his belt. This privately owned property manages assets worth more than $400 million and has carved a significant niche for itself in the nation.
It enters into collaborations with property owners and helps them with student housing facilities and property management. Most of these properties are located near some of the best colleges and universities in the nation.
It focuses on students and ensures that the value of the property increases with time for the owner as well.
Students as tenants
In the past, many landlords of private properties were reluctant to take in students as they assumed they were rowdy and would not pay their rents in time. However, research and studies have proved that students are responsible payers, and since they have their parents to back them up when it comes to late payments or default, landlords actually suffer no losses.
Gone are the days when students had to share and stay in cramped dorms. This hampered their studies and academic performance. However, times have changed now, and students search for off-campus accommodation to focus better on their studies. They like to stay indoors and study. So, in order to cater to their needs, student housing is a blessing. This housing facility gives them a place to study, eat, entertain and meet people like their friends and family.
No car space needed for the student
Another advantage of student housing for property owners is you do not have to give them car space. Most students cannot afford a car, and they look for accommodation near the university or college to walk to their classes so that they can save a lot of time and money.
They do not have very high expectations when it comes to the condition of the property either, unlike the conventional tenant who wants everything to be pristine. The student will not mind a scratch on the door paint at all if the property is sold. There are new A-class properties for the student from Nelson Partners to choose and live in, depending upon their budget. So, investment in student housing is surely a win-win situation for both the student and the property owner!