What Do Student Tenants Actually Want? - Market Research for Landlords

I'm just posting this report on a survey of Nottingham students regarding their wants and requirements for rental property.

Might be worth a read for landlords and property investors looking to move forward with the student letting market.

Any business should absorb as much market research as possible, and keep looking to the future.

Happy property investment.

Your Darling Margo

A home from home?… a major survey on Nottingham’s student housing

What kind of accommodation do Nottingham’s students prefer and why? Those are the questions answered in a new survey published this week, the biggest of its kind in recent years.

Around 5,300 students at The University of Nottingham and Nottingham Trent University responded to an online questionnaire about their accommodation choices. It was commissioned by the student housing charity Unipol, both universities, the two Students’ Unions, Nottingham City Council and Broxtowe Borough Council. The aim of the survey was to find out what students think about the range and quality of housing available to them in Nottingham and why they prefer particular types of accommodation. It also sheds light on the extent to which students in private housing feel part of the surrounding community.

The results show that most students think ‘less is more’ rather than ‘big is beautiful’ with just over two thirds preferring to live in private rented houses instead of larger developments (defined as those housing ten or more students).

The main attractions for those choosing a private rented house or flat were the independent lifestyle it allows and control over who they share with. Popular features were large bedrooms, roomy living space and good locations in relation to the university and city. Common irritants in private housing were poor standards of decoration and repair, some inconvenient locations and slow response times by landlords to requests for repairs.

Just over a fifth of students who responded to the survey preferred the larger, off-campus, developments managed by private companies specialising in student accommodation. Residents in these developments were attracted to the good opportunities for socialising, the generally strong security and safety provision and the convenience of having the accommodation managers on site. All-inclusive bills were also a popular factor. Characteristic complaints about larger developments were slow response times by management, excessive noise and poor communal spaces.

Students in privately rented houses or flats were more likely to have got to know non-student neighbours than those in larger developments. High proportions of those living in Beeston and Lenton Abbey felt well-integrated into their neighbourhoods as did, less predictably, those living in Nottingham city centre.

The survey was carried out by The University of Nottingham’s Survey Unit which provides research services within the institution and for external clients. Its Director, Dr Ken Levine, said: “This is a comprehensive survey that involves students from both Nottingham universities. It confirms some of the reasons we suspected that attract students to alternative kinds of accommodation. But there were also some surprises. Contrary to common assumptions, students in areas like Beeston, Lenton Abbey, Clifton, Wollaton and West Bridgford are already participating in many kinds of community activity and a lot expressed the desire to do more in future”.

On behalf of The University of Nottingham, Professor David Riley commented: “The survey offers a welcome evidence base for evaluating student accommodation in Nottingham. What I note from the survey is that students value choice and that there is strong support for all the types of accommodation that the City and its immediate region offer. As The University of Nottingham's Pro-Vice Chancellor for Student Experience I find it particularly reassuring that students value their initial time in our halls of residence and see it as part of a natural progression into more independent living and stronger engagement with local communities.”

Martin Blakey, head of the student housing charity, Unipol, said: “The student housing market in Nottingham forms an important part of the city’s housing stock and how students make choices and what the impact those choices have on the community, the City and the student experience is a vital part of planning effectively for the future. This research is vital in informing future policy options in promoting Nottingham as an educational centre of excellence and a great place to live.”

A major seminar is being organised by Unipol in January 2009 to explore the policy implications of the findings for the future provision of student accommodation in the City and the Greater Nottingham area. This is likely to be followed by a national conference on student housing in the summer of 2009 involving all the major stakeholders including private providers, landlords and local authorities.