It’s not a secret co-living in cities like Manchester, Sheffield and Leicester is becoming more popular. A growing number of students are renting the vast number of tenants looking for excellent student accommodation in these cities of universities with new options appearing in droves across the nation.
Manchester is in the middle of this development and has witnessed the creation of the first UK-specific co-living project that has more than 900 rooms for young professionals and students to lease close to Manchester Piccadilly train station due to be completed within the next few days. Sheffield is currently home to five active co-housing communities within the city that cater to the requirements of the students.
Students looking to expand their property portfolio and earn an excellent return on investments outside London, Manchester offers an great opportunity to grow and is featured two times in this listing of student-friendly accommodation locations with the highest rental yields. Manchester is definitely an area to keep an eye on for if you’ve thought about expanding your existing HMO inventory this year.
Co-living hasn’t only taken off in the market for student accommodation also. Co-living is a concept that aims to connect the gap between private and public uses and provides a fresh chance to build a sense of community in private and public areas.
This kind of living provide an element of socialization to the student experience It also aims to tackle the current housing crisis. The concept of co-living is being accepted by both developers and landlords in the student let market, as a starting point and many students are in favor of the idea of living in a house with other students at the same institution.
The perceived benefits are increased social interaction as well as a way to combat loneliness and make new acquaintances while at university. Since this is such popular in the present it’s not surprising that landlords are seeking to enhance their HMO inventory by making their homes more appealing to tenants who are students ahead of the beginning of the academic year that is coming up in a couple of months.
Interior design trends for student co-living
First impressions do matter in attracting students to HMO or co-living units. For many landlords , this means updating the housing stock with fresh additions and a new design to make the most of the growing popularity of students sharing the same home.
Instead of trying to squeeze in students as many tenants as is possible to make the most profit Smart tenants and landlords are putting greater emphasis on creating attractive spaces for socializing. There are more multi-use areas being constructed to aid in this crucial aspect of life for students.
The living spaces that can double as study spaces for groups, to kitchens that have dining tables Maximising space that allows students to spend more time with each other is viewed as an advantage by prospective tenants who are students however, this comes with its own issues.
In the National Student Accommodation Survey 2019 the most significant housing problem for renters who are students is the noise created by their housemates. Tenants who are loud can disrupt the sleep or study schedule, so it’s not a good idea for renters who are young. Over 45% of student tenants said that the noise generated by living with homemates was their top problem. New developments are focused on the layout of new homes to address this issue with a clever layout, which means private quarters are away from communal spaces as feasible.
Private student landlords who have an existing HMO stocks, the capacity to implement the same procedure isn’t economically feasible in the majority cases So, instead, soundproofing some rooms to help eliminating the noise issue caused by neighbors could be a viable alternative.
Did You Know? Nelson & Long are expert student accommodation interior designers.
With 54 percent of students leasing from private landlords, it’s these advantages that could make all the difference between vacant rooms and a lengthy list of students waiting to sign on a student tenancy.
Decoration is also crucial as well and you shouldn’t overlook the importance of giving your privately-owned student accommodation stock a facelift. The objective is to make your property appear fresh and attractive.
Examples of this include adding a pop of color using colorful paints or geometric wallpapers to bring life to dull spaces and create the impression of chic style without spending an enormous amount. To maximize the effect it is recommended to incorporate this style across the entire property, starting from spaces that are communal like the kitchen area and even into the private bedrooms to ensure continuity in style. This simple trick will provide a more luxurious and luxurious feel to your property.
Furniture and storage
The other essential elements of a living space that are shared include furniture and storage. With the size of IT equipment getting smaller and less streamlined students are more likely to part with the desk space to have additional storage options like wardrobes and draws for their belongings.
Desks remain a crucial element in student housing that is co-living but they shouldn’t be ignored. You should instead look for desks and chair sets with integrated drawers, and that double as dressing table. This allows tenants to maximize their space usage by having extra storage space for books or personal belongings.
Students are also shifting away from single beds in favour of double or queen bed sizes because this is what they’ve become familiar with at home and the more home-like features you can incorporate into your student residence, the more beneficial.
Another method that landlords who are students can promote co-living within their HMO homes is to ensure that there’s enough seating for everyone in the household. It is also recommended to provide additional seats for guests. This is accomplished by installing furniture that is modular in the living spaces by providing seating cubes which can be put away or put away during times of not use, and furnishing them with light and vibrant plastic furniture that is able to move from one room space with ease.
Another trend that the student housing market is experiencing is the indoor/outdoor style with a variety of plants and natural color schemes coming inside. The latest developments in cities like Manchester, Sheffield and Leicester are typically limited by the quantity of outdoor space that is available which is why any student landlord fortunate sufficient to own an outside space must make the best use of it. Make it a simple to maintain and appealing space for residents to come together and relax in the fresh air.
The artificial grasses and the plants can be a fantastic option to keep outdoor spaces in good condition all year without requiring tenants to use their free time doing garden chores. This keeps the air tidy, clean and welcoming and allow for more interaction between tenants since they’ll have the possibility of yoga at the beginning of the day or outdoor dining whenever the weather allows.
Practicality is also a factor in the design of interiors. The landlords of student accommodation are advised to select durable and easy-to-clean furniture and fixtures for student housing renovations.
While things like vinyl or laminate flooring, and plastic-coated table tops and work surfaces allow for maintenance that is much simpler and more durable, but their durability also ensures that they last more long than the natural material, such as wood.
Thus, select the materials and color schemes carefully, and you’ll not have to be concerned about whether your tenants are paying attention to them as they ought to. If you’re unsure, think about advertising your student co-living area as a luxury cleaned and maintained accommodation that is cleaned each week.