A. Currently mortgages aren’t available for student pods or rooms - it is a cash purchase or through using funds lent on another asset, i.e. the re-mortgage of another property.
Q. Who will manage my student accommodation?
A. Most PBSA developments are let and managed by a specialist provider. The management company is responsible for sourcing tenants, managing any maintenance issues and collecting rent – much like a residential letting agent.
Q. Are the units owned by the university?
A. No, PBSA units are privately owned for the purpose of generating income. When you purchase a private student room it is similar to owning a residential apartment and you will hold a full leasehold title once the sale is completed.
Q. Can I sell my PBSA unit on the open market?
A. Yes. Like most normal leasehold properties, PBSA rooms can be sold freely on the open market, however they must be sold as a student rental property. In addition there are also dedicated platforms to resell student property such as StudentPodshop.com!
Q. Can I rent my unit to anyone during term time/or let it out during the
A. As the name suggests Purpose Built Student Accommodation (PBSA) must be rented to university students, and cannot be let out on a residential basis. Management companies will generally let out rooms on a 44 week basis, but it’s not uncommon for tenants to extend their tenancy or stay on during the summer months.
Q. Where should I invest in buy-to-let student accommodation?
A. When investing in PBSA you should be looking for university cities or towns with a high (and growing) number of students. Often investors look towards well-renowned higher education institutions which can offer good returns and low void periods. Examples include University of Manchester – which has the biggest student community in the UK – as well as Leeds, Birmingham, Liverpool and Sheffield.
Would you like to learn more about student accommodation? Contact us today to speak to a student property investment specialist.
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- Q. Can I sell my PBSA unit on the open market?
- Q. Are the units owned by the university?