What To Buy In Terms Of Student Furniture For Your Rental Property
Over the last few years students have become a lot pickier when it comes to their student digs at university
. Today, they want comfort and security for their rental money and in most of the major cities there are plenty of properties to choose from. With this in mind, you, as a landlord, need to offer what it is that students are looking for, and an easy way to get ahead is to provide top quality student furniture in your properties.University students will, understandably, choose to rent your property over the next one if you include several bits of student furniture. They will also be more likely to take care of the furniture if they know that you have added it for their benefit, rather than to increase your achievable rent and make a bigger profit from them.
But how do you go about choosing suitable student furniture for your properties?
Well the first step is to find furniture that offers quality and an affordable price. Youre obviously going to want your purchases to last for several years at least, and when you look at how students may treat it you need to choose furniture that is strong and highly durable. Providing student furniture is no doubt an easy way to attract student tenants each year but if you need to constantly replace broken or worn items you will be on a loser financially.
Saying this, youre not going to want to invest a huge amount on your furniture choices in the first instance. Yes, you can include a take care of the furniture clause in your tenancy agreement but accidents will still happen. Late night coffees will get split on sofas and beds, scratches will appear on table tops and desks, and things like scatter cushions and curtains will get damaged or too worn to repair. At the end of the day you dont want to go spending a huge budget on student furniture only to have to buy it all again in a few years time because of unavoidable accidents.
With this in mind you need to think about how much you can realistically spend on student furniture and then decide what furniture would be best bought with your money. Students have need for a sturdy bed, a desk, a wardrobe, a set of drawers and maybe a small bookcase. They dont need posh dining tables, dressing tables with gilt mirrors and expensive lighting arrangements. Think about the number of rooms you need to furnish, including the living area, and split your budget accordingly.
Providing student furniture throughout a rental property will help you to retain students for several years at a time, resulting in an increased sense of security for you in terms of your buy to let investment. If you have a limited budget to work with then you might want to think about purchasing furniture packages for each of the bedrooms. Simple student furniture packages contain everything a student needs in their bedroom, including a good quality double bed, a small wardrobe and matching drawers, and a desk and chair. Then you just need to buy a few bits for the communal living area.
Buying student furniture can always be looked at as an investment, rather than a cost. Word of mouth is essential when it comes to student tenants, so the fact that you provide good quality furniture will stand you in good stead year after year. And ultimately isnt this what you need from your property investment?
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