A mortgage firm claims the lettings industry is ripping off students by overcharging them.
Mojo Mortgages says it has compared the rent paid by students and non-student tenants on student letting agency websites and on Rightmove, Zoopla and PrimeLocation
“Overall, we found it was more expensive to use a student-specific service in 13 of the 19 cities investigated, with several student letting agents charging upwards of £60 more a month, in some locations” claims Mojo.
The highlights of its study include student letting agents in Exeter charging £69 more per person per month for a four bedroom fully furnished house than letting agents on Rightmove.
Similar instances were apparently found in Norwich, Newcastle and Swansea, all with the average rent being over £50 more on student-specific sites.
In two of the 19 cities - Bristol and Bournemouth - Mojo claims a student can save a significant amount of money on rent per month by finding a student house on a student letting agent. However these are exceptions to the rule.
“University students in London unsurprisingly pay the most - forking out an average of £961 a per person per month. Next in line is Durham, where the average rent sits at £546 a month. [Next] are Oxford and Exeter where you’ll pay £519 and £507 each month” it adds.
The cheapest city for university rentals is Belfast, where rent sits at £246 a month, followed next by Cardiff at £319, and £324.
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Just wait until said students want to get a mortgage from a bank, then they'll know what being ripped off is, arrangement Fees north of £1500, rates increasing after first period, 0800 numbers to call the bank......
Rip off agents or rip off landlords? Landlords ask high rents, tenants compare what their money rents and offer accordingly, agents carry out the negotiations. Its called market forces!
This constant agent bashing is so tiresome.
What they dont tell you is the rent includes all bill, Gas Electric Water Sky.
Don't forget Students dont get charged Council Tax which means their rubbish taken away, the police and fire service provided, all the services a Non Student has to pay for and normally starts at just over £100 per month.!
Student houses are furnished that need in the majority of cases licensed hmo’s Which requires fire doors, interlinked alarms for starters, plus higher wear and tear-Maintainence and of course void periods...
It just shows that Whoever wrote that article has no clue the costs Involved in having students in hmo accomodation. Rip off? It's the local authority who insist these additional costs is for the benefits of the tenants ie students, guess where all the so call pro tenant regulations n costs goes to? Yes students of course
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