Maximise returns and capitalise on the thriving student rental market in Cardiff
Our Senior Investment & Market Advisor, Rhys Owen, sheds some light on the current state of the student rental market for landlords with properties in Cardiff.
Success story: 7 bedroom house in central Cathays
- This property let in just 9 days at £575 per room (excluding bills), which equates to a total income of £4,025pcm for the landlord.
- The landlord will be earning £1,925 MORE rent per month than they were previously, after taking on board our improvement suggestions.
The photos below speak for themselves - lots of small touches around the house, including an imitation live wall over the dining bar and a bespoke TV wall, have helped transform this student house, making excellent use of the space. These results just go to show that there is still strong demand and, if you invest in the right places, your property will garner increased demand, leading to optimal returns.
If you like the sound of higher rental yields, now is the time to make considered, strategic improvements to your student rental. We’re experiencing an extremely robust, fast-moving rental market, making it the perfect time to invest in your property whilst the market is in landlords' favour.
A few observations from activity in our office over the past few months:
Students have strong budgets: The market has changed and student renters have more financial resources than you might imagine. The student population of Cardiff is increasing, with some moving from abroad with generous grants and scholarships, a large percentage have part-time jobs along their studies and then there are those with parental contributions or simply a preference for higher quality living. But to attract these contract-holders, you need to make sure your property meets their evolving needs.
They’re willing to pay more to get more: Students with higher budgets understandably want a place that ticks all the boxes: functional, well-maintained, comfortable, aesthetically pleasing and fitted with modern amenities. So don’t let dated spaces hamper your property’s appeal. Happy contract-holders are more inclined to look after the property well and want to stay longer, minimising void periods, which is music to the ears of both ourselves and our landlord clients.
Let’s get started
Sometimes you need to spend money to make money and my recommendations will always earn you money in the long run. It’s not just about boosting your rental income, but ensuring your property holds and builds on its value, long into the future.
You don’t always have to spend big either - relatively cheap additions to a property can make a property leap of the page when we post our photos and video tours. As your agent, you have access to our extremely competitive rates with trusted contractors and are happy to oversee works and upgrades for a smooth experiences, if your preference is a more hassle-free approach. Give me a ring on 02920 668585 or email rhys.owen@cpshomes.co.uk and I’ll help you tailor a strategy that aligns with your investment goals.
The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.
