Forget those ideas that even posh students live in digs or shared houses - prime central London agency Napier Watt has declared the start of the international student letting season with a claim that some pay a remarkable £12,000 per month.
“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” according to Jonathan Adams, director of Napier Watt.
“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” he says.
Despite such stellar returns, some landlords are wary of letting to students, says Adams.
But he says they should not be reluctant.
“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. They often pay a deposit equal to eight weeks’ rent on top” he suggests.
This gives the landlord great cash flow and additional security, while the tenants are locked in to their contracts for the year.
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This is just ludicrous! Quite a change from my student days.
I don't this is representative of most students, even in London. Just a few high-end ones!
Either way, £12,000 a month is an extraordinary amount of money to be paying for student digs. House parties must be banned at these properties, surely?
Silly money. More money than sense. Still, if they need any repair/DIY/handyman work doing, I'm their man :)
What a ridiculous amount that people are willing to pay, especially students! All this simply to live in the up-market areas of London! Is it really worth it?
This is getting out of control now. Tenants must be mad to want to pay that much, but what do you expect from Central London property at the moment. Property at its extreme yet again.
It's barely credulous that someone would pay £12,000 a month for student digs - then again, they're probably not your typical student digs. I'm picturing jacuzzis and 3 piece suites rather than dirt, dust and questionable living conditions.
As Hannah says, this is not representative of most students - just a few very affluent ones.
In fairness you can fit alot of students in one of those Mayfair pads.
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