Free gifts and finances shape student rent market

Students under financial stress are moving out of city centres and away from campus to neighbourhoods with cheaper rents. The problem is moving to the suburbs is not necessarily cheaper than living in a city centre, according to a new study. Although identical homes may be cheaper to rent out of city centres, many students forget to factor in the cost and convenience of travel to and from home. Commuting makes days longer, restricts social activities on campus and often has other knock-on effects, like slower broadband, less shop and living in a neighbourhood with few other students. A survey in Sheffield, a city with two universities, found finances were the major stress for most students, especially with rising tuition fees. The poll, by student landlords MAF Properties, which rents homes to around 300 students in the city, found tenants were most worried about the cost of broadband and housing deposits. Most students agreed that given the choice, they would live in purpose-built accommodation within walking distance of the campus. “As a result of the survey, we are offering student homes from one to eight bedrooms with no deposits and free internet access,” said a company spokesman. “The properties are also within walking distance of campus. “These changes were a direct result of regular contact with tenants and understanding that by helping students in the short term that the company would benefit long term.” Meanwhile, in London driving lessons and iPads are among free gifts offered to students in a bid to fill empty bed spaces in halls of residence. Irish developer O’Flynn was trying to tempt tenants with the Apple tablet. Mansion Group has deals that include four weeks free rent and free driving lessons. A report by property consultant Jones Lang LaSalle claims some developers include perks like flat screen TVs and vending machines dispensing freshly-baked pizza in their rents. The rent band hardest to sell is for midpriced rooms of between £200 -£300 a week as wealthier foreign students are keen to lease more expensive homes.

Landlord blog

Sam Dickinson

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