One of the best ways to make money go further is to invest in something that will give you a greater return on the money you invest. There are so many different ways that you can support your cash, from things like stocks and shares to buying property and building a rental portfolio. It’s a great way to look after your future by investing in something that will give you income on a regular basis for a longer period of time. That way, you can’t waste and spend the money wastefully or frivolously as it’s invested into something else already.
Something that has become ever more popular is investing in not only property but investing into student property specifically. It’s become one of the most popular staples in the property market in theUnited Kingdom. Some of the best educational institutions are based in the United Kingdom, which is why the demand for student accommodation has only grown over the years. We not only have our own students attending, but we have students coming from all over the world to come and study here. This is why it is a great investment opportunity for both first-time and experienced investors. Some of the benefits of investing into student accommodation property is that stamp duty and tax are not as big of a cost and is a fully managed asset. By having a management company cover it for you, you don’t need to worry about going to fix any issues or getting students in as it’s all covered with the agents and management companies.
Another benefit from student accommodation investments is the return on rent. You are likely to get a higher rental income and over a longer period of time. With students, a lot of them travel alone or will rent a house that they all pay individually for. But as they all pay individually for their rooms and the shared space, you tend to get a lot more than you would be renting to a family or professional tenants. The rent is also guaranteed in the sense that they would pay out of their shouldn’t loans, and they can pay for each school term at the time and in advance. Especially towards the end of the university years during their courses as a lot of the students tend to stay in the property during the holidays and break between the years. As they spend more and more time in that particular city, they develop friendships and acquire jobs that they need to continue to attend, so this would give you more income during that time as they would pay during that period as an extra.
Every year you will have new students coming to join universities and looking for accommodation, there will always be a big demand for this type of accommodation so you won’t struggle to find tenants as there is such a high demand for it. There are also more luxurious student complexes you can look to invest in. These accommodations normally will have other things to offer the students, like a gym and washing machines in communal areas they all have access to. These cost more, but also the student will pay more too for these luxuries. These more luxurious and better quality student accommodation properties are normally taken on by overseas students as they may not always be able to visit beforehand to secure their accommodation.
Always do your research into what areas you want to invest in as different areas have different rated universities and also different demands for student accommodation. Some prime locations for students are places like Cardiff, Sheffield, Nottingham, and Leeds.
Why look at long-term investments like property? Some people think of them as a lot of work, but after a while, they can manage themselves, especially if you use an agency to do all the everyday stuff. Having some like this in your portfolio will not only give you income, but it will continue to do so when you retire. A lot of people retire and only get their pension and end up having to take jobs to make ends meet. It’s not how people should live life. By putting in some work and research now and attaining different assets like this, then money won’t be something you need to worry about as much as you get older. So if you are ready for your next investment opportunity but aren’t really sure what to do, then have a look at the ever-growing popular student accommodation.