What international students want from a rental: A guide for landlords

Hong Kong investors possess the most valuable property portfolio across England and Wales, with an estimated worth of £10.8 billion, as reported by Benham and Reeves. This staggering figure speaks volumes about the investment prowess of this elite group.

International students are a treasure trove for Hong Kong landlords owning real estate in London. These young individuals seek secure, comfortable, and convenient living arrangements in a foreign land, drawn to London’s world-renowned universities and vibrant culture.

However, attracting and retaining these tenants demands more than mere bricks and mortar. It necessitates a profound understanding of their distinctive needs and fostering an environment that encourages community and belonging.

This is where Benham and Reeves, Hong Kong, step in. As your trusted partner with a local office in Hong Kong, we offer unparalleled expertise in the London property market, tailored specifically to address the requirements of international students.

Understanding international student preferences

This comprehensive guide aims to assist Hong Kong landlords in understanding and meeting the specific expectations of international students in London rental properties — ensuring a mutually beneficial tenancy experience.

1. Proximity to Educational Institutions

Living close to universities and colleges is pivotal for students. It’s not just about the distance; it’s about creating an environment where students can effortlessly immerse themselves in their academic pursuits. Finding an apartment near educational institutions means less commuting and more time engaged in campus activities.

2. Safety and security

Ensuring a secure living space is a top priority for students living away from home. This is needed as it provides physical security and peace of mind. Ensure your property offers safety features like gated communities, surveillance systems, and well-monitored surroundings. These features usually help instil confidence, assuring students and their families that their living environment is secure and protected.

3. Fully furnished and equipped

Imagine stepping into a new city and having a fully furnished home waiting for you. Offering furnished accommodations with essential amenities streamlines the settling-in process for students. Such preparations help create a welcoming space for them that eases their transition into a new environment.

4. Affordable pricing

Financial constraints are usually common among young students. Setting reasonable rental prices and including utilities helps alleviate their financial burden. As landlords, you must ensure that students’ living costs align with their budgets.

5. Flexible lease terms

Students’ lives are dynamic and often subject to change. Offering flexible lease terms, such as shorter durations or options for renewal, caters to their ever-evolving academic schedules and personal circumstances. This flexibility is crucial in accommodating their shifting needs and promoting stability.

6. Cultural considerations

London is a melting pot of cultures. Acknowledging and embracing different cultural backgrounds within your London home through local amenities, inclusive spaces, and an environment that celebrates diversity creates a sense of belonging.

7. Communication and support

Maintaining open communication channels and providing reliable support systems to students living away from home is essential. Ensure as a landlord that you offer prompt assistance, are responsive to queries, and provide accessible support throughout to ensure students feel valued and supported.

International students’ growning rental market

Understanding international student tenants’ needs is crucial in London’s vibrant real estate scene. It is suggested Hong Kong landlords leverage Benham and Reeves Hong Kong‘s expertise to pick properties that exceed tenant expectations.

By March 2023, approximately 477,931 study visas were granted to main applicants under sponsorship — showcasing a substantial 22% growth from the period ending March 2022 and an impressive 108% increase from 2019, according to a recent study by Benhams. These figures indicate that now is an ideal time for landlords to unlock a lucrative rental market.

Benhams, with its multilingual staff, cultural understanding, and comprehensive services beyond property management — guides landlords to a successful and mutually beneficial experience.

About Benham and Reeves Hong Kong

Established in 1995, the local team at Benhams is equipped to offer real estate agency services to buyers, sellers, and landlords for their London property needs. Our team can further help you with market appraisals, legal and mortgage advice, and comprehensive property management.

For inquiries or assistance regarding your London property needs from Hong Kong, here’s how you can connect with our dedicated Hong Kong SAR specialists.