The PropTechBuzz podcast brings unique perspectives from PropTech founders, CEOs, investors, and innovators worldwide. Here, we learn how they build and grow successful companies that utilize cutting-edge technologies to revolutionize the real estate and construction industry. To view the podcast, click here.
• In 2021, the volume of the student housing market touched $ 11 billion globally. Analysts predict it to grow at a CAGR of 4.95% and reach a value of $ 18 billion by 2032.
• In this podcast, Alaviya Rizvi, EIR, PropTechBuzz discusses the growing prospects in the student housing industry with Mohammed Rafique and Arshad Shahjahan, the founders of Autumn Rooms.
• Only 20% of the first-time students joining an overseas university can get campus accommodation. Alternatives like PBSAs are expensive and have limited availability. Aggregating private properties for student housing is Autumn Rooms’ key strategy to meet rising demands, especially in Tier 2 and 3 cities.
• Autumn Rooms has standardized the quality of properties, costs, maintenance operations, local rules and regulations, market trends, and cultural factors to develop a global model in the student housing industry.
• The demand for student housing is rising exponentially. Autumn Rooms started in the UK and is currently operating in Canada and Ireland as well. The company wants to expand to the US, Germany, Australia, and New Zealand shortly.
In 2021, the volume of the student housing market touched $ 11 billion globally. Analysts predict it to grow at a CAGR of 4.95% and reach a value of $ 18 billion by 2032. In this latest podcast, Alaviya Rizvi, EIR, PropTechBuzz discusses the growing prospects in the students’ housing industry with Mohammed Rafique and Arshad Shahjahan, the visionary co-founders of Autumn Rooms. According to the founders, the start-up’s idea evolved from their experiences as international students in countries like the UK and Ireland.
As a student of Dublin City University (Dublin, Ireland), Mohammed Rafique faced housing challenges common to international students worldwide. Arshad Shahjahan, a former student of the University of Essex experienced similar issues in the UK. Five years ago, the family friends turned into business partners as they collaborated to develop the concept of Autumn Rooms with the mission of standardizing and elevating the student housing sector worldwide through cutting-edge PropTech innovations.
While studying in international universities, Mohammed Rafique and Arshad Shahjahan developed keen insights regarding the students’ housing industry. Their close interactions with international student communities traveling and living abroad led to Autumn Rooms’ key strategy of aggregating private properties for students’ housing.
According to the founders, “only 20% of the first-time students joining an overseas university can get campus accommodation initially”. So the first time an international student lands in a foreign country, they have to find living spaces outside the university. One option is to go for Purpose Built Student Accommodation (PBSA) or find a private house themselves.
Finding a private house is very challenging. You need many things like a credit score in that country or a previous landlord reference which the first-year students lack. The only option left is staying in a PBSA or a dedicated facility which is very expensive compared to both university accommodation and a private dwelling. Availability too is an issue. While university accommodation is extremely scarce, PBSAs are limited to top-notch locations like Central London or Manchester. On the other hand, private properties are not only more cost-effective but also widely available in Tier 2 and 3 locations which have the maximum student concentration. Leveraging these insights, Autumn Rooms has developed a business model that organizes this housing market with the help of technology. The company sources and manages private properties in liaison with the landowners and makes them available to students on a hassle-free app. Using Autumn Rooms, students can stop worrying about their accommodation and prioritize their careers and education from the first day in a new country.
The most critical role played by Autumn Rooms in the global student housing market is the standardization of properties and processes. Foreign universities usually attract students from all demographics. To cater to students from diverse nationalities and cultures, Autumn Rooms has set up a uniform standard of quality for properties, amenities, costs, and maintenance operations.
Autumn Rooms has capitalized on technology to meet the differing expectations of the host countries and their global visitors. Their powerful backend processes have integrated the local rules and regulations, market trends, and cultural factors to develop a global model of best practices in the student housing industry. And the results are evident. It’s a win-win situation for students and property owners who no longer have to worry about regional specificities like licenses and currencies.
For students traveling abroad for the first time, the Autumn Rooms experience is nothing short of a miracle. Students can settle in the perfect property in the most convenient location and at the best rates right from day one. The founders with their years of experience in the student housing sector explain that earlier this whole process used to take anything between 3 – 6 months. Students overwhelmed by the prospect of settling in a new country would face unexpected scenarios, stay in hotels or Airbnb, or simply couch surf before they found a house. With Autumn Rooms, living abroad starts with just the click of a button.
All a student needs to do is visit the Autumn Rooms platform and mention the name of the university. All the properties listed will appear based on it. Students can browse through the properties and choose the one that suits them the best. Behind this simple functionality, there are complex backend operations and algorithms developed jointly by Mohammed Rafique, head of business development and marketing, and Arshad Shahjahan, head of operations and technology. Autumn Rooms’ core operational efforts are focused on aggregating supply as demand is already high. The company has developed a strict protocol that ensures properties listed are near the universities or colleges, are budget-friendly, and most importantly, are safe for students.
Autumn Rooms started from the UK which is already an established student housing market, and is currently operating in Canada and Ireland as well. But with increasing demands in fast-growing educational hubs like the US, Germany, Australia, and New Zealand, Autumn Rooms has plans for a global expansion. While the established student housing market in the UK made it easier for the company to set its initial plans in action, expanding into newer countries requires a more concerted effort. From laying the foundations of a new rental housing model in these markets to navigating the regulatory challenges, and convincing newer landlords to sign up for this innovative PropTech platform, Autumn Rooms is bustling with the activity and energy commonly associated with global start-ups.
Autumn Rooms’ key brand promise is trust. The company has not only made student housing accessible, affordable, and hassle-free but it continues to inspire trust in residents throughout their stay. The app has a dedicated property maintenance function that allows students to raise issues and get them fixed instantly. The company has also simplified the process of rent collection for both students and property owners through their rent guarantee and EMI scheme. While landowners are assured of timely payments, students from countries like India get an option to pay their rent in easy installments.
PropTech initiatives like Autumn Rooms have proved decisive in solving complex issues related to student housing across the world. In 2023, the housing crisis faced by students in North Bay, Canada was reported by several news outlets. Lack of PBSAs in the Tier 3 city of North Bay and rising housing prices had forced scores of overseas students to sleep in tents. To avert the crisis, the Autumn Rooms teams worked round-the-clock to provide affordable housing to the students in that area through their platform. Anticipating similar housing shortages in student-intensive areas like Galway, Dublin, and Limerick in Ireland during admission periods, Autumn Rooms has devised future strategies to address the requirements of students from the Indian sub-continent (countries like India, Bangladesh, etc.)
The company’s unwavering focus on technology has helped them expand, and scale up their operations globally. Once the model was successfully established in the UK, it was really simple to implement it in several countries at lightning speed. Currently, the company is heavily invested in the integration of AI into its procurement model across key locations. Using advanced data analytics and algorithms, the company can shortlist properties most suited to its advantage. Using data trends related to rental costs and income levels in these locations, the team is trying to develop a dynamic pricing model that accurately reflects the business potential of a market.  Â
According to the founders, the student housing market is brimming with untapped potential. Students from all over the world are traveling to access quality education in newer countries which are emerging as educational hubs. In these circumstances, PropTech companies like Autumn Rooms are instrumental in meeting the rising demand for student housing. Technology will play a key role in standardizing the properties and processes across countries and help property owners connect with prospective student tenants digitally. The integration of advanced technologies like data analytics, machine learning, and AI will further streamline the workings of the student housing industry and boost long-term growth and returns.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
