{"id":14656,"date":"2023-02-24T12:44:13","date_gmt":"2023-02-24T12:44:13","guid":{"rendered":"https:\/\/www.yardi.co.uk\/?p=14656"},"modified":"2026-03-11T10:29:03","modified_gmt":"2026-03-11T10:29:03","slug":"think-tank-whats-ahead-for-the-pbsa-sector","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/en-gb\/think-tank-whats-ahead-for-the-pbsa-sector\/","title":{"rendered":"Think Tank: What\u2019s Ahead for the PBSA Sector?"},"content":{"rendered":"<p>Earlier this month, <a href=\"https:\/\/www.yardi.co.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Yardi<\/a> and\u00a0<em>Property Week<\/em>\u00a0brought together a panel of purpose-built student accommodation experts to discuss the sector\u2019s success in recent years, the impact that the cost-of-living crisis is having on students, how technology can enhance operations and what can be learned from the build-to-rent sector.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-14727\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped-1.png\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" srcset=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png 1200w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?resize=768,222 768w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?w=400 400w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?w=500 500w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?w=600 600w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?w=720 720w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?w=800 800w, https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-61-cropped.png?w=1000 1000w\" alt=\"\" width=\"1200\" height=\"347\" \/><\/figure>\n<\/div>\n<h3 id=\"Panel_of_experts\" class=\"wp-block-heading\">Panel of experts<\/h3>\n<ul class=\"wp-block-list\">\n<li><strong>Martin Blakey<\/strong>, chief executive, <a href=\"https:\/\/www.unipol.org.uk\/Home\" target=\"_blank\" rel=\"noreferrer noopener\">Unipol<\/a><\/li>\n<li><strong>Georgie Drewery<\/strong>, senior account executive, <a href=\"https:\/\/www.yardi.co.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Yardi<\/a><\/li>\n<li><strong>Mandisa Khabo<\/strong>, technical director, development and construction, <a href=\"https:\/\/www.greystar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Greystar<\/a><\/li>\n<li><strong>Sam Scott<\/strong>, managing director,\u00a0<a href=\"https:\/\/www.thisisfresh.com\/student\" target=\"_blank\" rel=\"noreferrer noopener\">Fresh<\/a><\/li>\n<li><strong>Chair: Andrew Saunders<\/strong>, contributing editor,\u00a0<em>Property Week<\/em><\/li>\n<\/ul>\n<h2>The purpose-built student accommodation (PBSA) sector is one of the property industry&#8217;s stand-out success stories of recent years.<\/h2>\n<h3>What is it about the experience provided by PBSA that students really value and that makes it so attractive to them?<\/h3>\n<p><strong>Mandisa Khabo:<\/strong>\u00a0One of the key things we notice with our students is around community. It is really important to them to have what they can class as a home \u2013 somewhere that is secure and where they can treat the people around like family. The other aspect that helps to build community is the events we run, which provide residents with an opportunity to meet our staff and other students.<\/p>\n<p>So, community is at the heart of what we do, but our students also value the basics too, especially having full-building wi-fi. They\u2019d rather have no water than lose the wi-fi.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-14658 alignright\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/propweek_thinktank_low_res-7-1.jpg\" alt=\"\" width=\"673\" height=\"323\" \/><\/figure>\n<\/div>\n<p><strong>Sam Scott:<\/strong>\u00a0Every student values slightly different things \u2013 their choice of accommodation is based on how they weigh up things like the cost, the quality of the accommodation, the services and the facilities that are provided. But we do know that the two biggest factors are location and convenience. If you have multiple properties in a city \u2013 maybe one in the centre and another near the university at different price points \u2013 they all get filled, but different groups are attracted to different properties.<\/p>\n<p>Each community finds their own view of what value means to them. Convenience is about hassle-free and secure online bookings, and whether bills are included, so that students know exactly what their outgoings will be.<\/p>\n<p>I am a parent and my son is going to university this year. Looking at it from the parents\u2019 point of view, knowing the provider is a professional organisation that is accountable and that the environment will be safe and secure for your 18-year-old gives you peace of mind.<\/p>\n<p><strong>Martin Blakey:<\/strong>\u00a0Ten years ago, the majority of students lived in small houses run by local landlords. Now, about 65% of them live in PBSA. There is an enormous amount of choice and it is important not to look at students as a single generic group.<\/p>\n<p>Design, mood and character are becoming much more important. If you are housing a lot of art students, for example, make sure there are some display spaces; or for music students make sure there are a couple of practice rooms. That will set the accommodation in the context of its academic environment.<\/p>\n<h2 class=\"wp-block-heading\">How is the cost-of-living crisis affecting students, operators and investors?<\/h2>\n<p><strong>Khabo:<\/strong>\u00a0Cost is definitely at the forefront of a lot of students\u2019 minds, but the great thing about PBSA is there is a choice of different price points. Even in London, you can choose to live in a premium building or you can choose to live in an alternative with fewer facilities. Across the country, there is a PBSA brand for everybody.<\/p>\n<p><strong>Georgie Drewery, senior account executive, Yardi:<\/strong>\u00a0PBSA is sometimes seen as a more expensive option compared with a house in multiple occupation or living in halls. But PBSA offers more of a service than the other options. Given the cost-of-living crisis, all-inclusive utility bills, for example, provide a much greater sense of security for students than an open contract with a utility provider.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>We are seeing some interesting and imaginative responses to the cost-of-living crisis from providers<\/em><\/p>\n<p><cite>Martin Blakey<\/cite><\/p>\n<\/blockquote>\n<p>Our clients are now offering more support to students who are feeling stressed through wellbeing programmes and having staff trained in mental health issues. That trend emerged during Covid-19 and has not gone away.<\/p>\n<p><strong>Scott:<\/strong>\u00a0At Fresh, we represent 31 different clients with different ambitions for their properties \u2013 some long term, some more short term. We are charged with maximising the operating profit our clients get from their assets. That is about balance \u2013 finding the sweet spot where we can keep clients happy and students happy.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-14688\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/propweek_thinktank_low_res-12-1.jpg\" alt=\"\" width=\"512\" height=\"332\" \/><\/figure>\n<\/div>\n<p>We work with our supply partner to hedge energy, which protected our client base [students and asset owners] last year and will continue to do so this year. We also have real cost pressures in the business in terms of talent. We are keen to retain our people. However, it is a competitive market and that puts costs up. Our supply-chain costs are also rising \u2013 things like the cost of fuel, labour and materials. Rent increases are necessary and offset some of the additional expenditure.<\/p>\n<p>On the other side of the puzzle is supply\u00a0and demand \u2013 will there still be demand?<\/p>\n<p>More students means higher demand for accommodation and that also influences\u00a0rents. There is currently a lot playing out in\u00a0the market.<\/p>\n<p><strong>Blakey:<\/strong>\u00a0We are seeing some interesting and imaginative responses to the cost-of-living crisis from providers. We are looking at offering some accommodation bursaries \u2013 one-off payments to individual students of \u00a3500 or \u00a31,000. They will be targeted at two groups. First, students who can show that their accommodation is their main place of residence. If they are not going home outside term time, they may want to rent something with a bit more space or that is a bit better quality than some other students, and a \u00a3500 grant may make the difference in terms of affordability.<\/p>\n<p>Second, students who are working part-time and doing too many hours. We did a survey at the University of Leeds and found that 20% of students are working 30 hours a week \u2013 that is almost a full-time job. It is too much. We want to say to them that they can work less and we will make up the difference.<\/p>\n<h2 class=\"wp-block-heading\">What can technology do to enhance both operations and the student experience?<\/h2>\n<p><strong>Drewery:<\/strong>\u00a0It is the norm now for students to make bookings, payments and maintenance requests via apps. But while it is great to have snazzy customer-facing apps, it is important to have the right technology in the background as well. In PBSA, there are bulk movements and deposit handling. Our tech allows operators to streamline this process with automated features. A prime example is in the renewal process. We are able to push out automated messages and notifications for a student to rebook and sign their agreement, as early as they choose.<\/p>\n<p><strong>Khabo:<\/strong>\u00a0We have been looking at how to start making buildings that work smarter \u2013 things like smart metering and giving residents an app to compare their use of electricity and water. If your electricity use is in the red zone, but your neighbour is in the green zone, that might make you think twice about how much you are using.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>There is a different level\u00a0of social interaction in build to rent, so it needs to be run differently<\/em><\/p>\n<p><cite>Sam Scott<\/cite><\/p>\n<\/blockquote>\n<p>There are barriers \u2013 the utilities do not want to share that data, and sometimes there are clusters in buildings where there is only one meter between five flats for example. But we find ways around them, and in new assets we are putting in meters unit by unit so we can pull this data and use it.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-14689 alignright\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/propweek_thinktank_low_res-16-1.jpg\" alt=\"\" width=\"412\" height=\"274\" \/><\/figure>\n<\/div>\n<h2 class=\"wp-block-heading\">Can you retrofit these systems into existing assets?<\/h2>\n<p><strong>Khabo:<\/strong>\u00a0Not all retrofits are the right thing to do, but some are. We see the benefits of leak detection and metering, for example. We have done other trials with things like smart heating and lighting controls \u2013 they are nice to have, but as retrofits they can create more problems than benefits.<\/p>\n<div class=\"wp-block-spacer\" style=\"height: 5px;\" aria-hidden=\"true\">\u00a0<\/div>\n<h2 class=\"wp-block-heading\">Are there lessons that the PBSA and build to rent (BTR) sectors can learn from one another?<\/h2>\n<p><strong>Scott:<\/strong> People who want to live in BTR probably do not want to live with students; they want a different identity. There is a different level of social interaction in BTR, so it needs to be run differently. Our staff also tend to be busier and need to be more present in BTR properties at the weekend because that is when more viewings take place, and it is not as cyclical as PBSA.<\/p>\n<p><strong>Blakey:<\/strong>\u00a0It is surprising we have not seen more crossover between BTR and PBSA because many of the attractions are the same \u2013 you are moving to a strange place; how do you know what to rent? If there is a standard product, then people are reassured by that.<\/p>\n<p>We should have a complete continuum between student accommodation and BTR. There is a good opportunity for the industry to lobby on planning changes to make buildings more flexible, because the notion of giving planning permission for PBSA just for students is a big mistake.<\/p>\n<p><strong>Drewery:<\/strong>\u00a0BTR can definitely learn from PBSA. A recent survey by Knight Frank found that students living in PBSA as opposed to the private rented sector were paying 33% less due to all-inclusive bills. This, partnered with a 36% increase in enquiries from people looking for inclusive bills with their accommodation on Rightmove, means that demand for all-inclusive bills is prevalent. This is a strategy that is worth implementing and maintaining going forward in both PBSA and BTR.<\/p>\n<p><em><a href=\"https:\/\/www.propertyweek.com\/insight\/whats-ahead-for-the-pbsa-sector\/5124026.article\" target=\"_blank\" rel=\"noreferrer noopener\">First published on Property Week.<\/a><\/em><\/p>\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.yardi.co.uk\/pbsa-student-housing-software\/\" target=\"_blank\" rel=\"noreferrer noopener\">Book a demo<\/a><\/div>\n<\/div>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this month, Yardi and\u00a0Property Week\u00a0brought together a panel of purpose-built student accommodation experts to discuss the sector\u2019s success in recent years, the impact that the cost-of-living crisis is having on students, how technology can enhance operations and what can be learned from the build-to-rent sector. Panel of experts Martin Blakey, chief executive, Unipol Georgie [&hellip;]<\/p>\n","protected":false},"author":442,"featured_media":51413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3501,3475,3457],"tags":[],"class_list":["post-14656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-student-accommodation","category-student-housing-en-gb"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yardi Blog<\/title>\n<meta name=\"description\" content=\"Earlier this month, Yardi and\u00a0Property Week\u00a0brought together a panel of purpose-built student accommodation experts to discuss the sector\u2019s success in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/en-gb\/think-tank-whats-ahead-for-the-pbsa-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Think Tank: What\u2019s Ahead for the PBSA Sector?\" \/>\n<meta property=\"og:description\" content=\"Earlier this month, Yardi and\u00a0Property Week\u00a0brought together a panel of purpose-built student accommodation experts to discuss the sector\u2019s success in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/en-gb\/think-tank-whats-ahead-for-the-pbsa-sector\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-24T12:44:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-11T10:29:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/02\/MicrosoftTeams-image-60.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yardi Blog Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yardi Blog Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/en-gb\/think-tank-whats-ahead-for-the-pbsa-sector\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/en-gb\/think-tank-whats-ahead-for-the-pbsa-sector\/\",\"name\":\"Think Tank: What\u2019s Ahead for the PBSA Sector? 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