Maybe you have heard multiple segments of commercial properties like hospitality, office, retail or multi-family. Have you ever heard the term ECU student housing? If not, then let’s discuss it. This division is also like the multi-family class of commercial properties. In this housing, space is provided to the student in which most of them are college or university students. This division has importance due to multiple factors. Developing this housing sector is always a risk for real states because it relates to education authorities and the real state has to be dependent on them. This housing also includes many challenges to handle.
Student homes have many unique features which are not seen in other residential housing. One of the most interesting features is that just a single room or bed is offered to students instead of the whole house of building. Students have to live with each other in the same room or floor. Thus they become roommates. Mostly the common facilities are provided to every student in the same apartment. The duration for lease also for the short term like just for one year. This housing also requires marketing to make the students aware of it. Now, this housing facilitates the students more than just beds. For residence all necessary facilities are provided like fully furnished environment, kitchen and eatables, bathrooms etc. the luxury and important facilities like high-speed wireless internet, cable television etc. are also provided for study and researches.
Student homes need more repairs and maintenance than multi-family properties. This is because students do not take care of things as families do. Due to all these facilities and expenses, students also have to pay more than other residential renters in different sectors of commercial properties. This housing also can be divided into classes according to the facilities and services. Mostly three types of classes are considered Class A, B and C. the first class can also facilitate the student more than the facilities described above. In this class, most houses are newly constructed in peaceful areas with the addition of swimming pools, gyms and clubs. The other classes have fewer facilities and old buildings which can be improved by more investments.
As said above that this housing also involves high risks, people are still investing in this. Now it has become a trend and investors set new rules for the students to deal with any kind of problem. Many commercial properties owners near the institutes are investing in student homes and earning large profits. This housing is also becoming a trend for matriculation students. The newly formed houses are also affecting the existing ones because students are moving towards advanced and luxury lifestyle. New houses provide more furnished and best environment than the old ones.