Student housing is a lucrative asset class in the real estate industry, and it has the potential to generate stable income for a property owner. This type of real estate is not affected by economic downturns, unlike its peers. Students will always search for off-campus accommodation near a university or college as they wish to save on traveling time and expenses. The rental agreements of such student housing properties are more flexible and convenient than conventional landlord-tenant agreements. This is why they are so popular, and the demand for student housing in the nation is rising.
Nelson Partners – Experts in the field of student housing in the USA
Nelson Partners is a credible name in student housing and property management in America. It was founded in 2018 by Patrick Nelson, who has 14 years of credible experience in the industry. This privately-owned company primarily focuses on college students who look for off-campus accommodation.
According to the team of qualified real estate professionals here, student housing accommodation can be made from both new and old properties that are located close to college and university campuses. They offer guidance to property owners who wish to convert their properties into student housing facilities.
These housing facilities should offer the student basic amenities like high-speed internet connection, a place for studying, a space for exercise or sports, a kitchen for cooking, a dining area, and a place where they can interact with their friends and family freely. At the same time, the student housing unit does not have to offer a car parking space to the student as most of them do not have a vehicle or cannot afford one to keep on a regular basis.
Close to the university or college
The properties should be located close to the university or college where they study, preferably within walking distance. Moreover, the best part of student housing is that these units appreciate in value with the passage of time. Since they are close to the university or the college, they are also near the prominent hotspots of the region, so it is obvious their value will increase with the passage of time.
Students prefer living in these housing units over dorms that are crammed, and often they are unable to study with a concentration in such an environment. They like staying in student housing apartments as they are able to focus on their academic goals better.
When it comes to the generation of income, you will find they can withstand the adverse effects of the economy. In fact, even during the coronavirus pandemic, the other forms of real estate were affected but not student housing. Education continued in the form of online classes, and the occupancy levels of these units were not affected.
Though several landlords are still scared of keeping students as tenants for fear of rent payment delays, research shows this is not true as students are responsible for paying rents on time. Since student housing from Nelson Partners is affordable, landlords get their rents on time. Moreover, they have parents as their payment guarantors, so landlords can get the rent from them as well in the event of delays.
