Letting agents reap benefits of student demand

News Category: Marketing

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Student accommodation is proving a valuable source of income for letting agents across the country amid the current economic downturn, an article has suggested.

Linton Chiswick, writing in a blog posted at citywire.co.uk, suggested that student accommodation could be "the next gold rush" when it comes to making money in the residential lettings sector.

Statistics published by accomodationforstudents.com in August 2008 showed that rent prices for students had increased by almost 20 per cent over the previous four years.

He noted that large letting agents in Edinburgh have reported occupancy rates of more than 99.5 per cent, with some landlords escaping the adverse effects of the economic downturn.

Most leases lasted 12 months as landlords capitalised on students' demand for rented accommodation.

Demand from students for accommodation was so high at Aberystwyth University recently that students had to be housed temporarily in local hotels, Mr Chiswick noted.

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