In recent years, there has been a rising trend in the real estate market: student housing. It is a profitable asset class that has the ability to withstand economic downturns and generate stable income. Student housing is booming in the USA and across the world because there is a large influx of students, both national and international, to leading academic institutions for education. The demand for education is never affected by the economy. In fact, often, the contrary happens when the economy is down. Parents encourage their children to pursue college graduation and post-graduate degrees so that they can get a good job in the competitive market.
Nelson Partners – how do student housing facilities cater to the needs of students?
Nelson Partners is a highly esteemed name in the field of purpose-built student housing real estate development and property management. The company was established in 2018 by Patrick Nelson, who has more than 14 years of credible experience in the industry. This privately-owned company focuses on college-going students who are searching for comfortable off-campus housing near their educational institutions. They look for housing facilities close by to the campus so that they can walk to it and save time and money.
Affordable off-campus housing
Student housing is more affordable than apartment rentals that take a lot of security deposits from the student. These housing facilities are designed and constructed in such a way that they cater to the individual needs of the students staying there. There are dedicated spaces for studying, eating, cooking, entertainment, sports, and a communal space where they can interact with their friends and family.
Construction from both old and new properties
According to the expert team of professionals from this esteemed company, student housing can be built from both old and new properties. The team looks after the needs of their clients and takes the onus of customized property management so that everything is done seamlessly. They understand the needs of the property owners and address all the challenges they face when the construction process is underway.
Property appreciation over time
The value of the property often depends upon its location to the major hub spots in the city. The same holds true for student housing units as well. The value of the property is often determined by its closeness to the college or the university. If the educational institution is very old and has a lot of historical significance, the value of the property increases every two to three years. This is good news for property owners who invest in student housing. In the future, when they sell their properties, they will get high returns on investments.
According to the team of experts of Nelson Partners, student housing rental agreements are not the same as conventional rental agreements between the landlord and the tenant. The terms and conditions of this agreement are designed to keep the needs of the student in mind. This makes them flexible and simple to adhere to.