Rightmove enters student market and aims for top place

Rightmove has launched into the student lettings market, ready to compete in – and lead – a crowded sector that already has one dominant player.

Top spot is currently held by the well-established and ambitious Accommodation For Students, which has close ties with the National Union of Students.

The site lists 750,000 properties and is used by landlords and some 1,200 letting agents. They pay a set-up fee of £15 and then £3 per property.

By contrast, Rightmove Students is open to agents, but not private landlords, and will be free at first for agents to list their student properties. However, there only appear to be around 140 properties for Birmingham, one of three Rightmove Student launch cities.

That figure is vastly outnumbered by the listings for Birmingham on Accommodation for Students, pointing to the battle that Rightmove has on its hands. One of its challenges will be to get into the student psyche – something at which Accommodation for Students has excelled .

Rightmove plans to roll out its student offering across the entire UK. It is a huge market, with nearly two million students in the UK, of whom 88% live in private rented accommodation.

Rightmove’s move into the sector closely follows that of lettings chain Martin & Co, which has just set up a specific student business.

The new service is accessible through the main Rightmove site, and has gone live.
Initial marketing for Rightmove Students will focus on three cities – Sheffield, Birmingham and Southampton – before national roll-out over the next 12 months.

The site launches at a time when students traditionally begin the process of house-hunting for next year.

Miles Shipside director of Rightmove, said: “Rightmove Students offers a way for lettings agents to specifically target the student market and we have already had a great response from agents who have been quick to sign up to this new venture.

“We hope to help simplify the searching process by bringing students and lettings agents together online in one easy place.”

Rightmove Students will be launched with a major email marketing campaign via UCAS, which administers applications to universities and runs the clearing organisation that swings into action in August each year, as well as on-site and social media promotions.

Rightmove says it wants to ensure it becomes the UK’s number one destination for student property.

As an indication of the potential for the new site, Rightmove has been receiving over 25,000 searches for student properties every month simply via a standard filter on its search results page.

The launch has already brought new member agents who handle student lettings on to Rightmove, including West One Student Accommodation in Sheffield, and Grant Management in Birmingham.

Meanwhile, a new syndicate backed by Accommodation for Students has launched, which comes closer to agency functions.

It will  provide online services to landlords, including a tenant-find service, and will supply insurance plus  provide guidance and support.

Simon Thompson, chairman of the Landlord Syndicate and who founded Accommodation for Students when he himself was a student, said: “The founder members are all passionate about our businesses and, together, we aim to provide the best possible services to our landlord customers.

“Syndicate members embrace the principles of corporate and social responsibility to ensure that their products and services are delivered ethically. All syndicate members commit to act responsibly and proactively on environmental, social, and health and safety issues and to conduct all business with honesty and integrity.

“To this end we are currently preparing a Code of Practice to promote the highest standards.”

Other founding members of the syndicate are Hamilton Fraser, LandlordZone, Landlord Action, Property Portfolio Software, and Lawpack. Also members are My Deposits and NoLettingGo, an inventory provider.

www.landlordsyndicate.com