Six Popular Student Accommodation Options

With Australia boasting one of the best higher education systems in the world, it’s easy to see why 1.4 million students choose to undertake their tertiary studies here annually. Flying the nest is a fundamental part of the university experience for many students, highlighting the importance of providing student housing options that cater to a variety of lifestyles. 

1. On-campus accommodation 

As the name suggests, on-campus accommodation is located on university grounds. These colleges often include additional student-tailored amenities on-site such as meals, laundry facilities, tutors, study spaces, and courtyards. Additional staffing and set rules allow a more seamless transition for students moving out of home. 

2. Purpose-built student accommodation (PBSA) 

Much like on-campus accommodation, purpose-built student accommodation is developed with the needs of university students in mind. They are located off-campus but close to the university, and offer more privacy compared to the on-campus alternative.  

3. Shared houses 

Shared houses are rental properties wherein multiple tenants sign one lease and share the rent and utility costs. Tenants often have their own bedroom and shared access to communal areas such as the kitchen, backyard, and laundry.  

4. Rooming houses  

Like shared houses, a rooming house involves sharing a home with several other tenants. The main point of difference is that rooms are rented out individually by the landlord, meaning every tenant has their own lease agreement to abide by.  

5. Owner occupied 

This type of accommodation is where the owner resides in the property and decides to rent out a private room (or multiple rooms). The room often comes furnished and costs are all-inclusive of rent and utilities. Unfortunately, tenants have limited rights as this option is not covered under the Residential Tenancies Act.  

6. Renting alone 

Students can also rent a (studio) apartment, unit, house, or granny flat by themselves. These properties are managed by a real estate agency and usually come unfurnished, though they do offer a high level of privacy. This makes them suitable for a mature-aged student or those waning independence. 

With student visa applications 40 per cent higher in the second half of 2022 than during the same period in 2019, there is a greater need to provide affordable and suitable housing for students. Though a specialised area of property development, student accommodation can provide strong returns and thus offer a great opportunity for developers.