Student accommodation provider confirms increase in lease length at Cork location

A PRIVATE student accommodation provider has confirmed it is to change the length of leases at one of its three Cork locations to cover the summer months.

Yugo Amnis House on Western Rd will offer only a 51-week lease for the 2024/25 academic year, which will see the annual cost for students increase by more than 30%.

The move comes as student housing providers across the country are also changing the length of leases to cover the summer months.

Hines, which owns five Aparto student residences in Dublin, announced recently it will be extending its leases from 41 to 51 weeks.

'Desire for longer tenancies'

A spokesperson for Yugo said “to better cater to the evolving demands of our student residents, Yugo Amnis House has transitioned to a uniform 51-week lease length. This change aligns with the desire for longer tenancies that offer stability and consistency.

“For our other properties in Cork, we maintain a blend of leasing options, including both academic term leases (38/39 weeks) as well as the 51-week lease option.

“This diversification ensures that we can accommodate a wide range of accommodation needs, reflecting our commitment to providing flexible and responsive student housing.”

The purpose-built student accommodation on Western Rd caters for 190 residents, with three room types available, costing €280 to €394 weekly. ]

Demand for longer leases 

Deirdre Falvey, accommodation officer at Munster Technological University, told The Echo there is a demand for longer leases, particularly from international students who may wish to stay in Ireland for the summer.

However, she said that in previous years, some of these private student apartments would offer lower rent during the summer, and fears that this will be stopped now.

“I think it should be optional, not mandatory, because people would have to have the extra budget — it wouldn’t be feasible for a lot of the Irish students who would want to go home or travelling for the summer.

“This happened more than 10 years ago with landlords. Many decided that they wanted a year’s lease, and students were only coming to me in May saying ‘I’m not here for the summer.’”

Ms Falvey explained that many landlords went into the private rental market then, and they lost a lot of properties that had previously been available to students.