Experts are optimistic about one thing despite the shake-up the pandemic caused in the student housing sector: Renewed demand!
Education won’t be exclusively online. Parents, educators, and students understand the value of physical classes and being able to communicate with teachers and peers directly. At the same time, a lot of specialized courses, such as medicine, engineering, and architecture, require hands-on, face-to-face training.
Virtual learning will only form part of the new normal. As the current crisis stabilizes, students and parents will be more comfortable and confident in going back to school. Put simply, traditional education is here to stay, complemented by online learning. For this reason, despite the hiccups, student residences remains a good investment worth adding to your portfolio.
It’s important to be discerning in your business move given the circumstances. Here are 5 Tips
Good Internet Speed is Imperative
Students attending online classes must have a strong connection to participate in such activities. Those who will be going to universities physically need it for research and collaboration with their peers.
Connectivity must be at the top of your must-haves in a student residence investment.
Everywhere the students goes in the building, they should be able to find a space where they can drop their laptops, connect to the internet, and do their tasks.
Traditional classes won’t be totally obsolete in the new normal era. People are naturally inclined to socialize. We want to interact with each other uninterrupted — with no lags on our internet connection or glitches on our webcams. In the distance learning era, feelings of isolation are inevitable, and students long for a sense of belonging and fellowship.
Make sure there are spaces for people to meet physically and bond with each other once the crisis is over and designed to have plenty of social spaces where students can organize parties or events.
Property management is key to creating close-knit communities in student residences as well. In fact, it’s their initiatives (holiday parties, game nights, and workout classes) that jumpstart meet-ups among students and relieve feelings of isolation even prior to the pandemic. When investing in student housing, see how proactive the property management is in creating a warm community.
Location, Location, Location
In some parts of the world, a number of schools have already adopted a hybrid of online and face-to-face classes, with the latter running in a limited capacity. As quarantine measures ease in other regions, it’s likely that this will be the new norm for learning. For this reason, the students still prefer being near schools. Thus, the real estate cliché ‘location, location, location’ remains to be applicable for investors.
Even with the rise of online learning, student residences will experience steady demand all the same.
5. Consider Sleeping Capsules
If you want more heads in beds, sleeping capsules (Sold by Podular) is an excellent solution.