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Pricing help for flat-hunting students

Tuesday, August 19 17:05:53

There is now authoritative information available on the actual level of rents for different types of accommodation close to all Universities, ITs and other colleges.

The information is available on the Private Residential Tenancies Board's (PRTB) Rent Index, which is the most accurate and authoritative rent data source of its kind on the private accommodation sector in Ireland.

Compiled by the Economic and Social Research Institute (ESRI), and based on the PRTB's own register of 300,750 tenancies across the State, the Rent Index reveals the actual rents being paid for rented properties, as distinct from the asking rent which features in other rent reports published by other parties.

This can help students and their parents to make informed decisions about the accommodation options open to them and to negotiate the best possible deal on rent. The PRTB Rent Index reveals the different rent levels across the country for different accommodation.

By logging on to www.prtb.ie, prospective renters can establish the monthly rent being paid, for example, for a two-bed apartment in Rathmines (E1,194.43), while a three bed semi in Clonskeagh is renting for E1,642.03.

Outside Dublin, rent levels are not as high; a three-bed semi in Maynooth is typically costing E976.94 per month to rent, while a three-bed house in Athlone is costing E596.89. A two-bed apartment close to Tralee Institute of Technology will cost E526.05, while the rent for a similar apartment in Galway city averages E759.53. In Limerick a two-bed apartment is renting for E579.46 per month.

The PRTB Director, Ms. Anne Marie Caulfield said that while this is an exciting time for young people planning to go to college for the first time, it is also a daunting and expensive time for them and their families. "Students leaving home and renting for the first time tend to be unsure how much they should be paying in rent. Our Rent Index provides them with important benchmark information and is an authoritative guide as to the actual rents being charged by landlords".

She also advised students to think carefully and consider all that is involved in renting a property and, perhaps, moving in with new flatmates. "We have also published information on protecting deposits and how to ensure it is refunded at the end of the academic year, as well as a list of what students are legally entitled to in terms of the standard of rented accommodation, and their responsibilities as tenants".

For more visit: www.businessworld.ie