The Scope of College Housing
Wangure Joshua
Venturing in students' residence is one of the pre-eminent and reliable investments at this epoch. Students crave to ditch provided dorms attributable to the most obvious reason, 'freedom'. Nevertheless, there is a niche in this sphere, whose capitalists will reap big if they contemplate on several factors. In most colleges, there is a deficiency of housing and the ones present never live to meet the presuppositions of the consumers. For a college housing investor, the factors to consider are;
1. Mortgage
A private developer must have the ability to access a mortgage equaling to the degree of the project. College housing requires requisite funding so as to meet the standards anticipated by the consumers. However, before taking a mortgage, the investor should consider some other factors to ensure continuous flow of tenants for a tranquil repayment.
2. Land
The availability and locale of land are the most basic and key factors when venturing into college housing. Definitely the investor has to consider the distance from the land to the institution. Most of the students would prefer living nearby as compared to a distant from the learning institution. Moreover, the location should be fairly developed, having atleast the cardinal social facilities.
3. Water availability
This is an indespensable element as far as the consumers are concerned and must be readily available for the sustenance of the lessees. Water foraging is not one of the most pleasing activities and for a student, the feeling is unwelcome. Studens delight in comfort and one of the things that will keep them composed is water availability in taps. To be on a safer side, the investor should opt to drill a water well and this might be another source of revenue.
4. Power connectivity
This is a factor that any investor cannot overlook whatsoever. Students need electricity in almost all of their persuits.The power supply has to be stable and reliable.The investor should prefer to install the suits with prepaid meters so that the tenants will have a control over their power consumption.
5. Security
No one will ever opt to live in an insecure environment. The venture capitalist must ensure that the property is in a secure location. This has to extend to fencing, gating and even having security personnel . The investor has to convince the students that their possessions are safe by putting up necessary safety mechanisms.
6. Cost of housing
An investor should be considerate and keep in mind that it’s housing for the students. The housing has to be affordable since a majorityof students are unemployed and are dependant on other sources for upkeep. This means that most compartments in the appartment should be of a reasonable size (preferrably a bedsitter or a studio apartment) to maximize on the number of units.
