For the modern-day tenant, good internet access is of vital importance. This is never more the case than for student tenants, who require fast broadband speeds to stream TV shows and films to their heart’s content, carry out research for essays and update their numerous social media profiles.
It’s not just the internet, though – students are demanding better technology and good-quality electrical goods from their landlords. In fact, new research from Currys PC World Business has revealed that 60% of students based their decision on where to rent on technology and electricals. As such, student landlords who fail to invest adequately in technology could be losing out on a substantial amount of income.
Technology really can make all the difference when it comes to letting student properties, with 44% of students willing to pay extra for fibre-optic or high-speed internet. What’s more, 35% said they wouldn’t rent a property that didn’t have an internet connection.
Expectations when it comes to student properties have also risen in recent years, coinciding with a rise in rental values and the increase in tuition fees to £9,000 a year or more at many universities. Now, students expect an elevated level of service from their rental property, with 29% even labelling themselves as high maintenance.
New is also better, with 85% of students saying they would be more likely to rent a property if all appliances were brand new.
It’s not just the student rental market where fast internet and up-to-date technology is seen as vital – it’s an increasingly important consideration for tenants across the private rented sector. As a letting agent, you can recommend the best providers for your landlords to ensure they are offering their tenants the best possible broadband and, in turn, increasing their satisfaction levels.
At ITTRIA (formerly Hallmark) we offer a one-stop utility, broadband, referencing and insurance solution.
We allow agents to deliver the widest variety of services to tenants from the broadest reach of suppliers. We also offer a number of essential services to our agents for free, in turn reducing your agency’s running costs.
You can figure out how much we could be adding to your bottom line by checking out our revenue & savings calculator.