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Under the skin of the letting market

Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.


Student rents remaining steady with Finders Keepers


The FKSL office

 

Everyone knows how expensive it is to live in London. Many students think twice before accepting a university place in the notoriously pricey city. Student Finance allows for this, lending students studying in London an additional £2000 a year towards living costs. A recent report by website Accommodation For Students has shown that it’s not only London that is especially expensive. Students in the South, whether inside or outside of London, pay much more than students in the North for their accommodation.

While rents in the South soared this year, in many Northern cities rents stayed the same or fell. The government provides no additional financial assistance to students in the South outside of London to redress the balance. According to website easyroomate, the average student now pays £357 a month, which is 8.5% higher than the last academic year, which saw rents of £329 a month, as reported in Letting Agent Today.

As well as renting privately for the first time, many second year students are already paying the increase tuition fees of £9,000 per year. Times are tougher than ever for students. As a result, Finders Keepers Student Letting has decided to freeze student rents for the year in the majority of our student accommodation in Oxford.

Simon Tyrrell, office manager at Finders Keepers Student Letting, explains why this was also a prudent move for our landlords: “It seemed sensible to say to landlords – look, for the sake of missing out on a small increase wouldn’t you rather be let quickly and to good tenants rather than run a bit of a risk. Most, not all, took the view that if the house had not changed since last year – i.e. had no upgrades – then they would happily agree with this sentiment”.

Finders Keepers Student Letting is the only dedicated student letting office in Oxford so they understand what students need and have the best properties in town. It is no surprise that they let 93% of properties for 2013/14 by April this year. To discuss letting your property for 2014/15, or if you are a student looking for accommodation, contact the office.

Finders Keepers Director Frank Webster spoke on BBC Oxford about student rents, skip to 1hr45 in to hear what he has to say: http://www.bbc.co.uk/programmes/p01fj5c7

Our student letting team