Nelson Partners Talks About Purpose Built Student Housing

Purpose built student accommodation is a housing type meant specifically for university students by private developers like Nelson Partners. These properties can take two forms. They can be self-contained studio or cluster flats featuring private kitchens but shared living space. On the other hand, purpose-built stunt accommodation may include modern halls of residence that contain en-suite bedrooms with shared dining, living and kitchen facilities.  

Up until around the last one or two decades, it was majorly left to universities and smaller, private landlords to provide off-site accommodation for the students. While many universities did over on-site “halls of residence”, in reality, they were little more than sleeping rooms with small areas for study. At times universities did aid in arranging ad-hoc off-campus accommodation, but that was not always the case.  A high promotion of students lived off the campus in shared, privately owned and rented accommodation. This was generally in single houses that were either shared by three, four or even more students or houses that were converted into small bedsits or flats.  But on the whole, quality and maintenance of off-site accommodation were not that great till a decade ago. Complaints were common about many of these properties. But the most common complaint was the overall challenges and shortage for students to find proper accommodation. This led to the trend of purpose built student housing, which helped in meeting the concerns and demands of these students.   These housing units are designed specifically to meet the unique needs of college students, and offer multiple benefits such as leases tied to the academic calendar. Many of them are furnished units as well, and subsequently reduce the hassle associated with moving.

Purpose built student housing can be considered to be small communities by themselves, which offer amenities tailored to college students. These amenities might include study areas, individual leases and roommate matching.  They additionally are mostly located near a college campus and provide offer unique residence life programs. Many purpose built student housing projects also employ students to act as community assistants, for the purpose of providing support to their fellow student residents.

Obviously, all purpose-built student housing projects are not the same. The ones developed by Nelson Partners might differ from the ones developed by some other real estate company in terms of the specifics of amenities provided. However, the key differentiators of student housing usually remain the same in all projects, including its leasing model. Rather than leasing by the unit for 12-month contracts, many purpose built housing units allow students to lease by the bed with options to lease for the months they are going to attend the university or college.  Roommate matching programs are also common in these properties to help the residents find peers who will be perfect for sharing their space. In the case of purpose built student housing, all units and amenities are designed specifically with students in mind.

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