The fastest growing property sector at this moment is the Purpose Built Student Accommodation (PBSA), attracting investors from all over the globe. Students expect and require a secure, technology-driven and high in quality accommodation that will be their home away from home. A place where they can accelerate and eventually send out to the real world to start their careers.
To welcome these young adults in such an inspiring setting is a job that needs to be taken seriously. Therefore we did some research on often overlooked criticism. Avoiding these complaints will result in happier students, therefore long term tenants and a great ‘customer’ (student) experience.
Offer your students a high quality coliving environment by bypassing these easy to overcome concerns and your PBSA becomes a problem solver instead of a burden.
In order to live pleasantly, let alone study, without any disturbance you can’t have any type of (loud) noise on your premises. Whether it’s loud music, fire alarms, or shouting: Enabling sufficient room to focus should be the main goal of your PBSA. A lot of this agony that drive students up their walls is easily to overcome with a few simple adjustments like setting up a noise curfew for weekdays or making sure ovens in all apartments have timers installed.
One of the most important aspects of the student experience is the quality of your staff. The people that represent your accommodation need to be adequate, fast in response and above all, polite. To safeguard your student’s contentment, requests and issues need to be taken very seriously. Rude or poorly trained staff is a big annoyance for anyone entering your PBSA, not only the students. Be sure to have a clear vision on how you want your staff to behave and be clear the staff knows they are a big part of that amazing student experience you are hoping to establish.
Students usually don’t have a lot to spend. Deposits that get refunded long after the 14-day range (which is usually the absolute maximum for students) is one of the main complaints students (and their parents) have on their accommodations. When PBSAs hit students where it hurts the most, these Millenials do what feels natural: Ventilate their inconvenience on social media. Avoid a bad (online) reputation by being clear on what to expect in terms of finance. Be transparent about timeframes, what deposits can be made and how students should approach this flow and you shouldn’t encounter any misunderstanding.
PBSAs are built to provide convenience so students should never have to leave. Whether in regard to their social life or to study. A so-called ‘place beyond the bedroom’. This is the reason a lot of PBSA’s are equipped with facilities like a cafe, pool- and football tables, services, and completely renovated apartments including bathrooms and kitchens which enables the students to form a community where they can focus on their studies. Facilities like washing machines become a big burden when there aren’t enough. Collecting the laundry, walking down to the laundry room to find out all washing machines are already taken, walk back to do the same thing over again a few hours later is a big waste of time. Make sure these kinds of facilities that could provide Zen instead of stress are being taken care of.
The number one that should be in order without a doubt still remains a solid phone and internet connectivity.
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