Why refurbishing will add value
From refurbishing key areas to ensuring continuous maintenance and enhancing accessibility, strategic upgrades can make your student accommodation more appealing to prospective tenants.
Refurbishing your student accommodation, or your holiday home, can significantly increase its appeal and rental value.
- By modernising and updating key areas, you create a more comfortable and attractive living space, which is appealing to potential tenants.
- A fresh and well-maintained property can also lead to higher tenant satisfaction and longer tenancies, reducing turnover and vacancy rates.
How to make student home improvements
Refurbishing your student accommodation is an excellent opportunity to create a modern and comfortable living space that attracts more tenants and enhances their overall living experience.
When planning student home improvements, consider the following tips and ideas for each area of your property:
Upgrade the kitchen
- Upgrade kitchen appliances to modern, energy-efficient models. Look for appliances that not only function well but also fit the needs of your student tenants.
- Consider including a dishwasher, which can be a valuable time-saver for students with busy schedules.
- Replace worn-out countertops and cabinets. Choose materials and colours that complement the overall design of the kitchen. Light-coloured countertops and cabinets can make the space feel more spacious and inviting.
- Install durable and easy-to-clean flooring. In addition to vinyl and tile, consider laminate flooring, which provides a cost-effective and attractive alternative that is easy to clean and maintain.
- Enhance storage options for student tenants. Install built-in organisers for cabinets to optimise storage space and make it easier for tenants to keep the kitchen organised. Consider adding a designated space for a recycling bin to encourage eco-friendly habits.
Bathroom student home improvements
- Invest in high-quality faucets, showerheads, and towel racks to give the bathroom a modern and luxurious feel. Consider installing a rainfall showerhead for a spa-like experience.
- Improve the bathroom’s lighting by adding bright LED fixtures or natural light sources like a skylight or larger window. Good lighting can create a more inviting and functional space.
- Add shelves, cabinets, or over-the-toilet storage to maximise space for toiletries and personal items. Consider installing a large mirror with built-in storage behind it to increase functionality.
- Proper ventilation is essential to prevent mold and dampness in the bathroom. Consider installing an exhaust fan or improving existing ventilation systems to ensure a fresh and moisture-free environment.
Upgrading living room and common areas
- Repaint walls with neutral colours. These colours create a versatile and inviting atmosphere in the living room and common areas. Choose light tones that make the space feel larger and allow tenants to personalise the space with their decor.
- Replace worn-out carpets with hardwood, laminate, or vinyl flooring, which are easier to clean and maintain. Area rugs can add warmth and comfort to the living room area.
- Many student tenants appreciate having a designated study area. Install a desk and comfortable chair near a power outlet for laptops and electronic devices.
- Ensure that the living room and common areas have adequate lighting for various activities, such as reading, studying, and socialising. Use a combination of overhead lights, floor lamps, and table lamps to create a well-lit and inviting space.
Improving the bedrooms in a student home
- Comfortable bedding and mattresses are essential for a good night’s sleep, which is crucial for students. Opt for durable and supportive mattresses to ensure tenant satisfaction.
- Furnish bedrooms with functional furniture, such as a desk and chair for studying, a wardrobe for storage, and bedside tables for convenience.
- Allow tenants to personalise their bedrooms with removable decorations like paintings, posters, and string lights. This makes the space feel more like home for each student.
- Ensure privacy and security. Install quality blinds or curtains for privacy, and ensure that bedroom doors have secure locks.
Student home improvements via accessibility
Making your student accommodation more accessible can attract a broader range of tenants and add significant value to your property. Consider the following student home improvements:
Ramps and handrails
Install ramps and handrails at entrances and steps for wheelchair users.
Ensure doorways are wide enough to accommodate wheelchairs and mobility aids.
Minimise thresholds or use low-profile ones to create a level surface throughout the property.
Install grab bars and raised toilet seats to enhance bathroom accessibility.
Provide at least one ground-floor bedroom to accommodate tenants with mobility challenges.
7 extra considerations to improve your student let
1) Fast and reliable internet connection
Today’s students heavily rely on the internet for their studies, entertainment, and communication. Providing a fast and reliable internet connection is a top priority for student tenants.
Ensure that your property has a high-speed internet service with sufficient bandwidth to accommodate multiple devices simultaneously. Promote this feature in your rental listings, as it can be a significant selling point for tech-savvy students.
2) Add security features
Safety is paramount for both students and their parents. Invest in robust security features to create a secure living environment for your tenants. Consider installing secure entry systems, CCTV cameras in common areas, and motion-sensor lighting around the property.
Adequate lighting in parking lots and pathways can also improve the overall safety of the premises. Highlight these security measures to potential tenants, assuring them of a safe and protected living space.
3) Sustainable features
Today’s students are increasingly environmentally conscious, and sustainable features can be attractive selling points for your accommodation.
Consider incorporating eco-friendly student home improvements such as energy-efficient LED lighting, low-flow faucets and showerheads, and smart thermostats that can optimise energy usage. Promote these green features to appeal to environmentally-conscious students and parents who value sustainable living.
4) Smart home technology
Embrace smart home technology to provide convenience and efficiency to your student tenants. Consider installing smart thermostats that can be controlled remotely to save on heating and cooling costs.
Keyless entry systems allow for easy access without the need for physical keys, making move-ins and move-outs smoother. Additionally, smart home features such as voice-controlled assistants can enhance the overall living experience for tech-savvy students.
5) Ample storage solutions
Student tenants often have numerous belongings, and sufficient storage space is crucial to keep the living areas organised and clutter-free. Maximise storage options in each room, including built-in wardrobes, shelves, and under-bed storage solutions. Well-planned storage areas will make your accommodation more functional and appealing to potential tenants.
6) Communal spaces and amenities
Creating inviting communal spaces can enhance the overall living experience for your student tenants. Designate communal areas for studying, socialising, and recreation.
Consider adding amenities such as a common lounge with comfortable seating, a study area with ample desk space and power outlets, and outdoor spaces where students can relax or engage in outdoor activities. Well-maintained communal areas can foster a sense of community among tenants, leading to positive reviews and word-of-mouth referrals.
7) Laundry facilities
On-site laundry facilities can be a valuable addition to your student accommodation. Many students prefer the convenience of having access to laundry facilities within the property. Consider providing coin-operated or card-operated washers and dryers for your tenants’ use. This feature can save students time and money, making your accommodation more desirable.
Final thoughts on student home improvements
Improving and adding value to your student accommodation is a strategic investment that can yield significant benefits in terms of attracting tenants and increasing rental income. This guide explains the costs and potential returns of refurbishing a rental property.
By focusing on refurbishment, continuous maintenance, accessibility, and additional quick wins, you can create an appealing and comfortable living environment for your student tenants. A well-maintained and updated property will not only attract more tenants but also lead to higher tenant satisfaction and longer tenancies, ensuring a profitable and successful student accommodation venture.