Monday, 27 August 2012

Investing in Off-Campus Rentals in Soho, London

Soho in London is home to almost 100 colleges and universities including the University of Westminster and The London Film School. Neighbouring areas have even more universities and colleges. Because of the high cost of tuition and education expenses, some students find that living off campus with classmates and friends can lessen at least their housing expense.

Students generally have higher occupancy rates than other renters and are willing to pay more for rent than others. When students share rent with friends and classmates, landlords can charge higher rents. This is well tolerated by the renting scholars because overall everyone wins.

Soho properties are a great investment because the area is highly desirable to both renting students and professionals. The bohemian and arts cultures attract people from all over the world. In addition, there are hundreds of pubs, nightclubs and restaurants where people can sample food from the diverse cultures around the globe. The lively nightlife and adult entertainment retain enough of Soho’s seedy past to keep it exciting.

Advertising to potential renters is easy. Landlords can brag about the bounty of live theatrical and musical performances, and comedy clubs like the Soho Comedy Club at Leicester Square or the Amused Moose on Greek Street. Particularly helpful to students and those concerned about safety, is the proximity of public transportation. On every street bordering the Soho area, the tube and buses are readily accessible. Renters may also anticipate the 2012 Olympics which are to be held in London.

Investing in Rentals
Nearby Westminster, of which Soho is part, offers even more attractions like the Florence Nightingale Museum, The London Aquarium and Buckingham Palace. In June, an event called Trooping the Colour takes place in honour of the Queen’s birthday. This is an extravagant parade of the Foot Guards, Household Cavalry and Royal Horse Artillery in which the Queen carries out an inspection of the troops.

First time properties buyers are currently being encouraged to wait until the market is more stable. They are heeding that advice and keeping their rentals. Rental renewals have increased by forty percent and are expected to remain stable. Investors should feel confident that rental properties will maintain their high occupancy rates and purchase real estate while the prices are enticing.

Common rental properties occupied by those studying for degrees are spacious studio terraces, and third floor lofts with private loos, as well as two and three bedroom apartments for larger groups. At 320 to 610 GBP a week for studios, a landlord can rent for the term desired. Some students may want to share accommodations with many of their scholarly friends, requiring even more room. The landlord with more space can certainly charge much more rent. The students are happy with this too. They split it with more friends and reduce their payments even further. Everyone wins.