If you are a landlord, it makes sense to invest in property where you know there is significant demand for rental property. There is high demand for rental property from tenants of all backgrounds in the current climate, but some landlords like to stick with tried and tested markets.
When it comes to sustainable tenants, investing in property where there is a student population makes sense. You might not think of Leamington Spa as a place of famous learning institutions, but you will find a sizable student population.
There is a good student population living in Leamington Spa
Recent estimates suggest more than 5,000 students live in the local area, which is a fantastic base for nearby campuses. Warwick University, Coventry University and Warwickshire College are all located a very reasonable bus journey away from the heart of Leamington Spa, and many students are looking to live in a place like this.
Not everyone wants to live directly on campus. Yes, many students appreciate as short a commute as possible for early morning starts, but many students like to create a distance between their studies and the rest of their life.
When you consider Leamington Spa has many employment opportunities for students, and there are many locations where you can enjoy a fantastic night out, it is no surprise many students choose to live here.
Plans are in place to expand student accommodation in Leamington Spa
This is something for landlords to consider, as is the likely approval of new purpose-built student accommodation in the local area. It appears as though two HMO buildings at 3 Wise Terrace will be demolished and replaced with five-storey student accommodation.
This shows there is demand for student accommodation, which is the ideal starting point for landlords.
The new development will offer 54-bed spaces within 17 clusters. The Warwick Council planning committee will review the application on 20th July.
A report for the committee said: “The scheme is considered to have a positive impact on the Canal Conservation Area by providing a high-quality building that reflects the canals industrial heritage. Site specific matters can be adequately dealt with by condition and the requirement for a section 106 agreement to secure off-site contributions will ensure that local infrastructure is improved to take into account the potential for increased use as a result of the development. On the basis of the above, the application is therefore recommended for approval.”
We are pleased to say we offer a specialist service for landlords, and we can help you connect with your ideal tenant. We also provide a property management service if required, which includes the following services:
- Affordability checks
- Compliance support
- Full Management Service
- Refurbishment and Repairs assistance
- Right To Rent Checks
- Routine inspections to ensure your property is kept in reasonable condition
- Safety Checks
- Tenancy Agreement Preparation
- Tenant Find
- Tenant Referencing
- Web-Based Technology, for Transparency
Contact Creative Sales & Lettings today for information and assistance in choosing the right company for your needs or any questions related to the Royal Leamington Spa rental market. You can call us on 01926 350363.