A Strong Year for Student Lettings: Meeting Demand and Exceeding Expectations

As we wrap up the 2023/24 academic year, we’re pleased to reflect on a successful period in the student lettings market. Demand for student accommodation remains robust, with rents rising approximately 8% year on year—far outpacing inflation. This trend highlights the growing need for high-quality, well-managed student housing, a demand we are proud to meet.

July, traditionally our busiest month, was especially productive this year. In just 2 weeks, our team prepared 38 student rooms for new tenants, ensuring that students moving in had a seamless transition into their new homes. This swift turnaround is a testament to our team’s dedication and efficiency.

Retention rates are also strong, with 60% of students choosing to stay in their accommodation for a second year. This loyalty speaks volumes about the quality of our properties and the satisfaction of our tenants. Students value stability, comfort, and a landlord they can trust—factors that are central to our service.

We also expanded our managed portfolio, adding 2 new HMOs comprising 10 additional student rooms for a new client. These additions are part of our ongoing commitment to grow our offerings and provide more students with access to top-tier accommodation.

Financially, it has been a stellar year. We finished the academic year with all rents paid in full and no arrears—an impressive feat in today’s market. This financial health underscores the effectiveness of our management practices and the reliability of our tenant selection process.

As Thorpe & Co look ahead, we’re excited to continue delivering excellent service to our students and landlords, helping to meet the rising demand for quality student housing.

Share this article