The turbulent relationship between landlords and their student tenants is a well-documented one.
In fact, last year over 8,000 students signed a petition to stop landlords/student letting agents ripping students off, and research in 2018 evidenced that over 1/3 of students think they’ve been treated unfairly by a landlord during their time studying…
But it appears that students in fact may have the right to feel like that.
Mojo Mortgages took note of students grievances, and looked at the price of a 4-bed, fully furnished house in the most populated student areas of 19 UK cities, on Rightmove compared to dedicated student letting agents/landlords.
Overall, they found that it was significantly more expensive to use a student-specific service in 13 of those cities, with several student letting agents charging upwards of £60 more a month, in some locations.
Here are they key findings…
– Although in 2 of the 19 cities, you can save a significant amount of money on rent per month by finding a student house on a student letting agent (Bristol and Bournemouth) these appear to be anomalies, as across 9 UK cities, it was discovered that rents were at least £10 greater on student letting agents websites than comparison sites.
– The most expensive student areas in the UK were also discovered. University students in London unsurprisingly pay the most forking out an average of £961 a per person per month. 3 of the UK’s smaller University cities and towns are the next most expensive with students paying more than £500 per person on average in a student house. The cheapest city for University rentals is Belfast, where rent sits at £246 a month, followed next by Cardiff at £319, and £324.
– In the majority of University towns and cities, renting a room in privately owned accommodation is significantly more expensive that staying in University halls of residence. Reading is the most expensive University town to rent a private room in, with it costing £286 more on average for a student. In 8 other cities, it costs more than £100 more per person per month to rent a room in a privately rented halls (Belfast, Manchester, Exeter, Nottingham, Sheffield, Durham, Oxford, and Birmingham).
You can read the full research piece here.