TOP 5 REASONS WHY THIS IDEA OF STUDENT RENTAL HOSUING IS BREAKING THE CONVENTIONAL RENTAL HOUSING SYNDROME.

1. AFFORDABILITY: RENTAL OVER OWNERSHIP

Organised student housing companies provide affordable options to students in a lookout for housing apart from the traditional renting options. Landlords and Property Owners demand an unfair amount of money in the name of security deposits which are at times unreasonable for students. Lock-in periods make it unsuitable for them to relocate in case of any unforeseeable problem. Student housing eliminates these problems by offering quality housing and the flexibility to leave.

2. VICINITY TO EDUCATIONAL INSTITUTES

The major deal-breaker for the student's in a lookout for an off-campus housing facility is the distance from their Educational Institutes, as most of the Indian Tier-1 cities today face a grave problem of heavy traffic and thus students are unwilling to travel distances of any father than 5-10 km. Student Housing companies target areas close to educational institutes thus effectively tackling this problem and providing attractive substitutes for on-campus housing.

3. BREAKING THE TRADITIONAL STEREOTYPES

Impositions such as night curfew and policy against overnight guests to being prohibited from inviting friends from the opposite gender, and so on. Thus, students today are increasingly preferring to opt for student housing which allows them to live independently and with dignity. Student housing is maintained by a single company thus the hassle to communicate with multiple operators for paying deposits, utilities, furniture, and agents' fees is eliminated.

4. LEGAL OVERHAUL

The MODEL TENANCY ACT 2019 is expected to impact the rental housing industry positively and overhaul the legal framework currently governing it, attracting major private participation in this segment. In the 2019 Union Budget, the Government announced its plan to attract 200,000 overseas students to study in Indian universities under the 'Study in India' initiative. This requires that the government bring in a much-needed reform in the existing unchecked civil rental housing sector.

5. STANDARD OF LIVING

The majority of students prefer Paying Guest Accommodation over renting out private houses because of the amenities and the furnishing status. Rental houses are mostly available in semi or non-furnished status, thus not suitable for a student's lifestyle due to the hassle of dealing with multiple parties. Co-living and Student Housing projects provide premium services and amenities in their properties.

Sources :

1. Published By Saurabh Arora (CEO & Co-founder, University Living) | September 2 2019.

2. Published by Surbhi Gupta | September 9, 2019.