Young, gifted and posh students find their perfect uni pad.
West End estate agent, LDG know all about the heart London. London not only has some of the world’s best universities, it is one of the greatest centres of culture and creativity, famed for its museums, arts scene, nightlife and diversity.
It should, therefore, come as little surprise that students from all over the world put Imperial College, UCL, King’s College and a host of other prestigious specialist and comprehensive institutes in London at the top of their destinations of choice for higher education.
And those students are seeking high quality accommodation, with some prepared to pay up to £12,000 a month for homes in the best parts of central London, including Mayfair, Belgravia and Kensington.
And the shortage of high quality homes to rent in London’s most desirable districts has led enterprising lettings agents to establish separate divisions catering for the international student jet set.
Many overseas students often start their search for a high-end property to call home for the academic year many months in advance of term starting.
This is because many seek advice from other students who know that if you want the best apartments it makes sense to take over a tenancy in the summer.
Primarily, students from overseas are looking for two-bedroom flats within walking distance of their university college and will often pay between £6000 and £8000 per month.
Despite such high returns, many landlords are not keen on renting their investment properties to students because they have a false fear that these young tenants will fail to take care of their accommodation.
However, not only are many overseas students unaware of the British culture when they first arrive at university in London, a large number are able to put down six months or even 12 months’ rent in advance.
This has the advantage of giving the landlord instant cash flow and a more or less stress free year.
And many young adults who arrive in London from other parts of the UK and further afield to study stay in the capital after graduating.
Having grown accustomed to the high standard of accommodation they enjoyed at university, they are keen to continue renting what have become known as posh pads.
There are tales circulating around the lettings industry of wannabe Made in Chelsea types who are so desperate for the lifestyle that new agencies have been established to cater for this niche market.
One of these agencies, it is said, aims to put together like-minded people in flats (rooms starting at £1000-£3000 per month) and promises that tenants – or members as they are known – will be aged between 21 and 39 and rich.
The agency also has a no couple’s rule, so as not to ruin the buzz and holds regular parties where newbies can meet those already established in the building.
But beware! A main requirement to living in these apartments is that you already have an established career with many of its members working in or around the city.
For many of us, an ultr-posh rental pad is a pipe dream, but if you’re young and successful there are places and agencies out there designed with you in mind.
When it comes to finding a perfect pad in prime areas of central London, including oh-so-hip Soho or fashionable Fitzrovia there are enough options and luxury property available.
You May Also Enjoy
Average 5-year fixed mortgage rate now above 5% for first time since January – Rightmove’s weekly mortgage tracker
Real Estate Lawyers: Who They Are and What They Do?
Weekly News Roundup – 03/05/24
Rightmove’s weekly mortgage tracker – 02/05/24
Powering Up Your Brokerage: How Real Estate Apps are Transforming the Industry