Comparability and calculation of rent figures

• 'Economic rent' is meaningless in a setting such as this in Cambridge. The city currently has a housing shortage which inflates rents. There is no viable option for students at Cambridge but to remain in College accommodation if they can. The Colleges of the University already control the market.
• It is not possible to calculate an 'economic rent' by breaking it down into its components since the idea that one might base figures on a new build cost for a room is inappropriate. Build cost for a 200 year old building is irrelevant. King's should compare itself with other universities around the country when deciding its rent charges since there is no way of "working out" a rent.
• Currently the average weekly rent for a King's room is £44.40. Junior members must then pay an additional £9.10 a week "College Charge" (or "Catering Charge"). Weekly bills are thus, on average, £53.50.
• Students applying to London are given an increased allowance to compensate for the Capital's higher costs. The UK ex-London average (Source: NUS Accommodation Costs Survey) for 98/99 for comparable accommodation (room + heating) was £44.32. To raise King's rents to this UK level would require an increase of 2.6% per annum for each of the next four years. However, this would result in Cambridge as a whole becoming more expensive than this UK average.
• The December 1998 edition of the Cambridge University Reporter shows the breakdown of from where in the country Cambridge students come. There is a great under-representation in certain areas, e.g. Wales and the North-East, where able students still tend to opt to go to nearer, cheaper universities. The NUS survey states a figure of £40.53 per week for comparable accommodation in universities in these areas. An increase of 0.3% per year for 4 years would increase King's rents to this level.
• The average Cambridge rent is £42.60 (Source: Bursars' Report "Addressing the Room Rent Subsidy"). An increase of 1% across all Cambridge colleges for the next four years would bring University rent levels up to the UK ex-London average.

Copyright © 2000 Access Alliance