Expert Nelson Partners Guidance On Student Housing And Property Management
Student housing real estate is a lucrative investment for private property owners. This means if you have a property that is close to a college or a university, you can rent it out to college students and earn a consistent source of income for a long time. Education is highly in demand, and students prefer to stay off-campus over dorms these days.
Nelson Partners – Why Are Students Amazing Tenants?
Nelson Partners is a highly credible name in the field of student housing and property management. This company was founded in 2018 by Patrick Nelson, who has more than 14 years of valuable experience in the industry. It primarily focuses on college students and student housing properties. The team of experts here enter into collaborations with property owners so that they can offer students the benefits and facilities they expect when it comes to student housing rental accommodation.
Are Students’ Regular Payers Of Rent?
There is a misconception that students are bad tenants and they never pay their rent in time. This is not true. The biggest advantage of student housing is that a parent guarantor backs these tenants. This means if some students do delay in making their payments on time, you can recover the rent from their parents. However, research proves that students are responsible for paying rent as their primary motive is to find a place to study and a space to eat, sleep, and interact with friends and family. They are hardly bothered about the interiors of the space like the conventional renter as they are more focused on their academic goals.
At the same time, when you are catering to students as tenants, you do not have to focus on car parking spaces. Most students are looking for properties that are very close to the college and university they attend. They have the motive to save money and time. Moreover, most students cannot afford a car, and this is why you do not have to offer them car parking spaces when you rent your property out to them.
Resilient To Economic Downturns
If you compare student housing to other forms of real estate, you will find that it survives during the recession or, even more recently, during a pandemic as well. Education did not stop as colleges and universities shifted to online classes. Most students stayed back in their rooms, and they studied from indoors safely. When you have a property for student housing, you will have students coming from all across the nation and world, so the chances of zero occupancies are always nil.
Some students might leave, but the rest remain. This means you get your income from rents, unlike the other forms of real estate.
Investing in student housing is indeed a smart move as per Nelson Partners, and with experts in property management to guide you, the source of income will always be regular and consistent. Moreover, you no longer have to worry about recession as student housing survives such situations because education never stops, and the demand for college and university degrees is still high!