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Student’s pay £140,000 per year in rent-claim
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
A London letting agent has made the astonishing claim that some students in the capital pay £140,000 per year in rents.
Prime central London agency Napier Watt signalled that start of the international student letting period by claiming that certain overseas scholars pay £12,000 per month.
Staggering high
Jonathan Adams, director of Napier Watt, said that, ‘enquiries from overseas students keen to rent an apartment for the new academic year are starting to come in. As the current wave of students come to the end of their tenancies, those who have rented before know it makes sense to take over a tenancy during the summer.’[1]
‘These students are prepared to pay £6,000 to £8,000 per month for a nice two-bed flat in Mayfair, Marylebone or Belgravia, rising to £12,000 per month in Knightsbridge,’ Adams surprisingly suggested.[1]
Student’s pay £140,000 per year in rent-claim
Reluctance
Despite the chance to achieve such large returns, landlords are still wary of letting to students, according to Adams. He believes however that landlords and agents should not be hesitant when letting to young academics. Adams said, ‘students often get an unfair press for being rowdy and excessive partying but there are many real and distinct advantages of letting to them. Firstly, on the whole they tend not to be badly behaved. Secondly, in central London they tend to be overseas students and will typically pay their rent half yearly in advance and occasionally, annually in advance.’[1]
Adams also said that students, ‘often pay a deposit equal to eight weeks’ rent on top.’[1]
[1] http://www.lettingagenttoday.co.uk/breaking-news/2015/6/agent-claims-some-students-in-london-pay-140k-in-rent-per-year
