Make Your Investment Accommodation in Pretoria Student-Friendly
PUBLISHED 11 DEC 2020
Attract Quality Tenants: Make Your Investment Accommodation in Pretoria Student-Friendly
Each year, thousands of students venture off to Pretoria’s top educational institutions to begin or finish their degrees and masters. However, Pretoria is struggling with a student accommodation crisis, which means thousands of undergraduates will search and fall short of a place to call home for the next two to three years. As a result, this presents a great deal of opportunity for Pretoria property owners and investors alike.
With many university undergrads losing out on Gauteng’s on-campus housing lottery, finding tenants is never a problem for property owners throughout Pretoria and Johannesburg. The problem is finding quality tenants. The best thing about quality tenants is that they look after your property, they pay extra for value, and they pay their rent on time or their parents pay one year in advance. These are the undergraduates you want to attract.
For many, moving out of home for the very first time is a rite of passage, so finding the right accommodation is essential. Sure, while social media is the holy grail of reaching potential new tenants, there are other ways to reel in the right scholars. If you want to attract and keep quality tenants, then make your accommodation student-friendly by following these excellent tips.
Make Life Convenient with Student-Friendly Furnishings
The Rental Housing Act and the Consumer Protection Act state that student property must be habitable with all basics in good working order. However, you can take it a step further and freshly paint the property and add some modern furnishings. With hundreds of students arriving from all over the country with just a suitcase in tow, make your rental property attractive by offering a fully furnished suite. Also, include student essentials like Internet access, kitchen and laundry basics, and a flat-screen, coffee table, and sofa in the living area.
Security is Priceless
Two concerns for many student tenants, as well as their parents, are the privacy and security of a rental property. Crime is at an all-time high, and with protection topping the list as the most sought-after student accommodation feature, it makes sense to increase safety measures with outdoor lighting, motion sensors, undercover parking, and even an alarm system with CCTV cameras. Providing safe accommodation is priceless and an excellent way to attract the right tenants.
Repairs and Upgrades
Every investor that owns property in and around Pretoria knows that it is easy to find tenants. The hard part is staying on good terms and keeping them as tenants. In the student rental market, many choose their accommodation on referral, which means landlord reputation is everything. Some landlords exploit tenants, but soon find out that scholars have the same rights as professional tenants.
As a landlord, you must honour repairs and upgrades throughout the rental period, even if that means rushing over to the house or apartment on a Saturday or Sunday morning to inspect a leaking pipe or a broken swimming pool pump. Well-maintained accommodation will ensure quality tenants and parents that appreciate high standards.
The Pretoria student rental market is spilling over with tenants looking to secure a safe and convenient spot for 2021. To ensure a smooth-sailing tenant and landlord relationship, treat your rental property the same way you would a regular business. Follow the Rental Housing Act and the Consumer Protection Act, and do not overstep your boundary as a landlord.
Also, install a top-notch security system, furnish the property with modern furniture and fittings, maintain and repair the property regularly, keep records and invoices, and prevent problems before they happen with frequent inspections.
If you want to avoid the headache of rent collections and maintenance or repairs, partnering with a property management agent like Huurkor Sales can help better manage your accommodation rental investment. To find out more, chat with one of our rental management experts today.