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Many students feel that they are being charged too much rent. Over the last few weeks, students in Scotland and London have been campaigning against unfair rent increases, which in London are claimed to be around 5%.
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Supply and Demand Dictates Rent Prices
However, Simon Thompson, director of student accommodation website, www.accommodationforstudents.com, disagrees. Thompson believes that although many landlords are charging high rents for student properties, this is based on the principles of supply and demand. In areas where there are fewer students and a greater number of properties on offer, prices have fallen in order to remain competitive.
“Our most recent research actually found that the average rental value (ARV) in this sector has in fact fallen by 37 pence as a result of increased competition, with supply meeting or even surpassing demand in many cities. As the popularity and investment potential of private halls is becoming clear, new developments are cropping up in 66% of cities, with more being planned throughout 2015.”
Negotiate with Landlords
Thompson advises students to negotiate more with landlords because there may be some leeway. For students who are able to organise their accommodation well in advance, landlords may be willing to offer discounted rents. An advance booking means the landlord has the security of knowing the accommodation is rented for at least twelve months. Even students in the clearing system may be able to find landlords willing to negotiate.
