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Thursday, 5 July 2012

Rental Property Income in Soho, London

Soho is home to an abundance of colleges and universities. These include the University of Westminster, London Film School, Eynsford College, Drew University and Belgravia College. There are also many more in the area. School tuition and expenses are rising steadily and a growing number of students now live off campus in privately rented shared housing with others to save money. 

Student occupied rentals generate higher revenue and more consistent occupancy nearly everywhere and Soho is no exception. When students share costs of living with other students, a landlord can charge higher rents making it profitable for both parties. 

Investing in Soho property is nearly foolproof. The area is highly desirable to students and others because of its rich cultural scene, including arts and theatre, nightlife and attractions. There is food from nearly every culture on the globe available here and a tamer version of the adult entertainment for which Soho was notorious for centuries. 

Rental advertisements may boast about the selection of live performances of both music and theatre as well as the diversity of food choices in bars, pubs and restaurants. Of special interest to students and scholars is the easily accessible public transportation. Purchase of an Oyster card allows access to the tube and bus from each of the four streets bordering the Soho area. For 2012, a big draw will be the Olympics which are to be held in London. 

The area of Soho covers one square mile and is part of Westminster which offers many more rich and diverse attractions including the Florence Nightingale Museum on Lambeth Palace Road, the London Aquarium where visitors can meet sharks and learn about ocean conservation as well as traditional 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. 

Common advice to first time real estate buyers is to delay purchase until the economy is more predictable and stable. People are listening since there has been a forty percent increase in rental renewals and evidence that the trend will continue. Investors may feel confidence in this. Rental incomes will be steady and homes are priced to buy. 

Properties available include studio terraces, third floor lofts with private loos and one and two bedroom apartments. All are doing well. Many of these may be shorter term and can be leased on nearly any length of time, depending on the market. A landlord can expect, on average to earn 320 to 610 GBP weekly on studio terraces. Depending upon the circumstance, some students will want to live with more friends, requiring additional space. These tenants will be willing to pay more since the rent will be split more ways. They will demand more bedrooms and command higher rental fees. The landlord of the larger space earns more and the students are also happy. 

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