One of the golden questions we ask ourselves each year is, "When do we go live with the student portfolio this year?", and every year, the strategy surrounding the timing for launching the next academic year's student housing portfolio is a topic of considerable debate. Not too long ago, we used the quiet time after the hectic move-ins of late September to reflect and plan. Typically, we'd start discussions about next year’s pricing with landlords around mid-January, propose renewals to our tenants shortly after, and go live with listings by the first of February.
But the landscape has changed in recent years and it turns out, 1st November has become the new standard for launching listings. Having been in the student letting business for over two decades, I've seen significant shifts in our timing strategies. Gone are the days of post-Christmas planning; now, as soon as everyone moves in, we're already gearing up for the next academic year. This change isn't just happening in our neck of the woods; it's a trend that's gaining traction nationwide, driven by a fiercely competitive market that rewards those who act fast and present well.
While early listings can seem advantageous, this rush has its downsides. Early listings can unsettle existing tenants, who may still be deciding whether to renew, leading to unnecessary turnover from the pressure they feel to make decisions quickly, just a month or two after moving in. Moreover, this rush can create logistical headaches for both landlords and agents. The quick turnaround from one tenancy to the next leaves little room for planning property maintenance or improvements in advance for when tenancies come to an end. It also poses challenges for incoming tenants, who might find themselves committed to leases so far in advance that their circumstances change by the time they move in.
The reality is, however, that in regions where the rental market is particularly competitive, properties are often let by Christmas, if not Easter. This has influenced our timelines significantly, making early listings a strategic necessity, albeit one that comes with challenges. It's not just about beating the competition; it's also about managing the expectations and satisfaction of both tenants and landlords.
The drive to list properties earlier each year is largely reactive. As some agents and landlords begin to market their properties sooner, it creates pressure on others to follow suit to capture tenant interest. This push forward can feel like a market necessity, but it often leads to a cycle of rushed decisions and inefficiencies that benefit no one in the long run. As we continue to navigate these changing dynamics, my advice to property owners and fellow agents is straightforward: stay informed about market trends, prioritise clear communication with your tenants, and plan your listing strategy with both current and future needs in mind. If managing this balance sounds daunting, consider partnering with a seasoned agency like Eightfold Property. We specialise in navigating these complexities and can help maximise your property’s potential with timing and strategy tailored to the current market conditions; we can handle your listings, ensuring they are strategically timed and beautifully presented, all for a reasonable fee.
Those of us in a position to do so, do need to think though, is this of benefit to anyone? While the market may push for earlier and earlier listings, we must carefully consider the impact on all parties involved. Effective communication and strategic planning remain key to navigating these changes successfully. After all, listing a property isn't just about filling vacancies—it's about creating a stable, profitable housing environment for everyone involved