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Where in Sheffield can I attract both Student and Young professional t

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Definitely Crookes, Walkley, Nether Edge or Hunters Bar. Don't forget besides students these areas are also near to the Royal Hallamshire hospital and the Dental hospital for staff working there so the properties there are snapped up quickly. You will have to pay more to purchase them but is a better investment for the future. Also if you ever want to sell your properties in these areas, they sell very quickly.

 

 

Thanks Pattricia that's particularly great feedback- factoring in the hospitals is a key consideration too. Cheers!

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Thanks Pattricia that's particularly great feedback- factoring in the hospitals is a key consideration too. Cheers!

 

Do you actually know the first thing that being a landlord entails ?

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As others have said, there is a lot more to being a landlord than you can imagine.

And house maintenance costs plus agents fees will eat up profit for most people.

Crookesmoor is the most studenty area, after that all the others would be suitable for either students or young professionals. Massive competition with new build flats, also these areas are quite pricey. A nice 3 beddder in Crookes or Walkley can fetch up to £200k. At that price there is little or no profit letting out.

As a rule I would look for rental returns of over 10% to make a decent profit, or I would look to invest in an area which has rising house prices. These areas whilst fairly nice do not rise as fast as others as there is a massive supply of awful ex student accommodation coming onto the market each year. All that is done up and let to or sold to young families or occasionally professionals.

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As others have said, there is a lot more to being a landlord than you can imagine.

And house maintenance costs plus agents fees will eat up profit for most people.

Crookesmoor is the most studenty area, after that all the others would be suitable for either students or young professionals. Massive competition with new build flats, also these areas are quite pricey. A nice 3 beddder in Crookes or Walkley can fetch up to £200k. At that price there is little or no profit letting out.

As a rule I would look for rental returns of over 10% to make a decent profit, or I would look to invest in an area which has rising house prices. These areas whilst fairly nice do not rise as fast as others as there is a massive supply of awful ex student accommodation coming onto the market each year. All that is done up and let to or sold to young families or occasionally professionals.

 

 

Thanks onlineo, very helpful feedback.

 

Noted regarding your comments on profit erosion. I've done my numbers and have a maximum purchase price set which I won't exceed for that very reason.

 

You mentioned a glut of new build flats coming onto the market and causing competition. Two questions:

 

1. Are these targeted at 1st year students (i.e. do 2nd and 3rd year students still tend to move out from these into shared accomodation)?

2. Which area(s) are the majority of these in?

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Do you actually know the first thing that being a landlord entails ?

 

He obviously does - it's buying a house, which is exactly what he's doing. What's your beef exactly?

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He obviously does - it's buying a house, which is exactly what he's doing. What's your beef exactly?

 

Hey Halibut thanks for intervening- it's pretty clear from checking this person's other posts on here that they seem to have nothing better to do with their time but but post negative things and troll other users... probably best to just ignore them rather than respond so that the convo here stays on track and they crawl back into their lonely box behind their computer screen :)

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Hey Halibut thanks for intervening- it's pretty clear from checking this person's other posts on here that they seem to have nothing better to do with their time but but post negative things and troll other users... probably best to just ignore them rather than respond so that the convo here stays on track and they crawl back into their lonely box behind their computer screen :)

 

Sorry but asking the questions you are asking shows you obviously havent got a clue what being a landlord entails etc.

 

You will be the sort of person who gets a tenant and then when you get a problem end up having to ask on MSE for help!

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Thanks onlineo, very helpful feedback.

 

Noted regarding your comments on profit erosion. I've done my numbers and have a maximum purchase price set which I won't exceed for that very reason.

 

You mentioned a glut of new build flats coming onto the market and causing competition. Two questions:

 

1. Are these targeted at 1st year students (i.e. do 2nd and 3rd year students still tend to move out from these into shared accomodation)?

2. Which area(s) are the majority of these in?

 

1. No idea. I imagine lots of first years for Sheffield uni ended up in the student village near Broomhill. But that in University owned.

2. The majority of new build flats are in or very near the city centre. Either inside the ring road or within a stones throw of the ring road. If you see a new tall building or a crane then there is a 3 in 4 chance it is student accommodation in these areas.

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Thanks onlineo, very helpful feedback.

 

Noted regarding your comments on profit erosion. I've done my numbers and have a maximum purchase price set which I won't exceed for that very reason.

 

You mentioned a glut of new build flats coming onto the market and causing competition. Two questions:

 

1. Are these targeted at 1st year students (i.e. do 2nd and 3rd year students still tend to move out from these into shared accomodation)?

2. Which area(s) are the majority of these in?

 

Alot of students now are heading towards flats and halls accommodation, they built an enormous complex on London road and it was a huge hit so more are being built.

There's a new large development going up right next door at the moment actually.

 

City centre location, near the university(s) - it's a no brainer for students.

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