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When I look at the weekly prices some of these PBSAs are charging it is eye-watering!
In one SE location the cheapest advertised is £195pw rising to £325pw for a deluxe studio.
Uni provided basic single rooms are £100+pw. Private rental c.£120+pw.
Are there actually any affordable PBSAs out there compared to Uni/private housing?
Well I assume they have big loans, bit you have to also look at the local market there. Rooms in Cambridge can go for £500 plus per month, with a lack of student housing, students will compete with professionals. Some group together to live in jmis but they can easily be £1500 per month xcluding bills for four students.
Agree with you. Student accommodation is way over priced, in the main not much better than a squat and the letting agents treat them with disdain and try to rip them off at every turn. I say this but my experiences are all based on Brighton. All contracts are 12 months plus bills whereas here in Portsmouth they include bills and are ten or eleven months. My views on student housing and letting agents in Brighton are so strong I'd refuse to assist in any way if any other child of mine wanted to study there. If you like rats and mice and furniture that looks like it was past its useful life in 1970 you'll love it
I'm talking about the cost of PBSAs here, not Uni/private residences.
Hi Adam. Yes there seems to be more of these springing up here in Portsmouth all the time. Many hmos up for sale. I think some landlords have taken the student market for granted and hence many people will happily pay more for something modern that is usually cheaper to run, secure and latest facilities. There has been a shift here in high end hmos for professionals with en suites, TV s etc but the student market seems stuck in a time warp so I think the pods will take a bigger and bigger share of the market
Big variations in area, Adam. We look after some PBSA (pods) in Manchester that go for £70-£85 per week. Decent standard of accommodation with good communal area facilities, 24 hour staffing etc. I'd be happy with this, if I were at Manchester Uni.
Many of the other PBSAs we've helped our clients with were developed, sold AND managed by companies such as Fortis - a bit of online research will tell you all you need to know on that front. The management companies set the rents, and appear to charge the maximum they can get away with. Because it's now all about yield, the prices get pushed up.
PBSA pods that I've seen tend to be at least twice the rent of an HMO room. I feel sorry for today's graduates who leave with so much debt.
These pods are attracting a large number of overseas students as they feel safe reserving them before they come to the UK.
I was talking to my tenant find agent and he said that pods have greatly reduced the overseas HMO market.
I've talked to many UK/EU students over the years and they all prefer HMOs for both cost and social reasons.
There is some PBSA being built adjacent to a property I own there is serious money behind it I have some knowledge of building costs and I'm astonished by what's being spent ,it is truly eye watering.
The rents they are aiming for are in proportion too but on the upside it really makes my HMO look very reasonable .
Uni Halls of Residence charge £8000 pa plus and any catering provided is on top.
If students vacate Halls - as mandated in 2nd/3rd yr they at least can self cater more cheaply - but their very existence in Uni towns puts upward pressure on rents via extra demand.