Thursday, August 23, 2012

Income From Off Campus Housing in Soho, London

There are nearly 100 colleges and universities in Soho. These include the University of Westminster, London Film School, Eynsford College, Belgravia College and many, many more. To cope with rising tuition and expenses, many students seek to live off campus in privately rented housing.

According to University of Westminister’s London Guide, The Westminster area, which includes Soho, has so many attractions and such a lively social scene, that it is much sought after by both students and professionals and therefore, the rents are some of the highest in London. This is good news for investors.

When considering investing in student income property in Soho, realise that student rentals generate higher revenue and more consistent occupancy. Students often share costs with other students in a rental to decrease their expense but this allows a landlord to increase the rent making it profitable for both parties.

Points to highlight to the potential student renter are the thriving art and theatre scene with live theatre and musical performances of all types. There are bars, pubs, eateries and nightlife aplenty. Food choices abound from around the globe. Public  transportation is readily accessible from each of the four streets that border Soho’s square mile area and the 2012 Olympics are scheduled to be held in London. Soho no longer has the frowsy reputation that it held for centuries, known for prostitution and crime. Now it is a desirable place to live and still has enough adult entertainment to maintain a bit of its provocative vibe.

Soho is part of Westminster, which is home to many more interesting activities and attractions including the Florence Nightingale Museum, Westminster Abbey, the London Aquarium and exciting events like Trooping the Colour, an extravagant parade and centuries old tradition in honour of the Queen’s birthday in June, with the Queen herself riding in a carriage in attendance.

Campus Housing
Those considering purchasing homes for the first time have been advised to wait until the economy is more stable. This is evidenced by a forty percent rise in renewal rate on apartments and is expected to remain stable in the year ahead. For those with money to invest, it is a good time to buy income property in confidence that rental will be steady.

Soho terraces for rent include spacious warehouse style studios, split level and 3rd floor lofts with private loos. One and two bedroom apartments are doing well also. Lots of these terraces are shorter term and can be leased monthly, quarterly or if you prefer yearly. On average, studio terraces fetch between 320 to 610 GBP weekly. Naturally, some students will desire more privacy and may ask others to share the rent in a larger space. This will demand more bedrooms and higher rental fees. The student will have an easier payment and the landlord will also profit in greater income.