Today’s big announcement that’s been buzzing around the campus grapevine these past few weeks is the increase in the fees for student accommodation. This bit of news, albeit sudden, has been imminent ever since zoning regulations around the university became stricter during the past year.
As many have noted, the local city council has cracked down on accommodation providers who are circumventing occupancy regulations in terms of overcrowding, unauthorized renovation, and noise pollution as a consequence, along with several other issues affecting students and the local community.
Housing providers need to make sure they meet the necessary requirements otherwise they will be penalized with a huge fine. They are obligated to register their location with the city council and pay a registration fee that is 10 per cent higher than previous. The increase in reg fee will cover costs for security, maintenance and sanitation, and fire/damage insurance.
Naturally, any costs that housing providers and renters will incur will be passed on somehow to students renting the residence. The last time rental rates in the area went up was around 4 years ago, so many providers and home owners agree that updating their business registration has long been overdue. They also don’t mind the increase in reg fees knowing that they can recover this from increasing the rental rates.
This development comes at the heels of a growing student population primarily made up of international students. Despite the fact that student lodging has long been one of the major expenses a student incurs while attending university, it is something that most students from out of town consider as top priority. Nevertheless, students will just need to come up with a solution to cover the higher rental rates that will take effect at the start of Term 3.
There you have it folks! The latest information on a most sensitive topic. It just boils down to who needs it more. At this point, a growing student population is nothing but held hostage, so to speak, by the housing providers and homeowners who are fewer, and thus are able to command a higher rate.