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Beaver
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Issue 830 | 03.03.15
newspaper of the LSE Students’ Union
Hall Rents To Rise 0.2%
• Excluding Rosebery, which will be fully catered, rents will fall 1.2% • Weekly increase below inflation • LSE competitive against King’s and UCL Sebastien Ash, Staff Writer Alexander Fyfe, Executive Editor Liam Hill, Managing Editor EXCLUSIVE ACCESS GIVEN to Beaver reporters by School sources reveal the proposed costs of LSE halls of residence for the 2015/16 academic year. The document reflects the final budget made by LSE Residences, which will be suggested for approval by the LSE Finance Committee on Wednesday March 4th. Over the length of their contracts, students moving into LSE
halls of residence this September will mostly, based on these figures, see their rents stay very similar to those paid by the previous year’s cohort. Contract costs will rise by a meagre 0.3 percent. Such modest decreases however, reflect amendments made to the structure of the academic year at LSE. The shortening of Summer Term to 7 weeks from 10 results in the shortening of Halls contracts for residents. While 50 week contracts will remain the same length, contracts that were previously 31 weeks long will become 30 weeks long, and contracts previously 40
weeks long will become 38 weeks long. The modest rises in weekly rates, therefore, is nullified by this fall in the length of most contracts. Therefore, the average annualised figure for halls rents is falling from 2014/5 to 2015/6, while the average weekly rent is rising slightly, an average rise of around a 3 percent can be expected in this figure across all LSE halls. Closer inspection of the numbers however, reveals a diversity not conveyed by the headline figures. The results are by and large skewed upwards by disproportion-
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ately large increases in the rates for Rosebery Halls. Costs for the whole year will rise by 6.7% at Rosebery, a £345 a year cost rise for students. This works out at an annualised increase of 12%. Excluding Rosebery, whose residents will become entitled to 7 meals a week as opposed to the current 5, a change which accounts for the discrepancy between the price rises at Rosebery compared to other halls, annualised contract costs for most students will in fact fall by 1.2%. Furthermore, the fact that only 50 week contracts are offered at But-
ler’s Wharf, a postgraduate hall in Southwark, accounts for the fact that most contracts there are rising by approximately 4 percent. In the forthcoming year the LSE will also be offering rooms in the Urbanest Westminster Bridge development next to Waterloo station, though this doesn’t figure in the comparative statistics for other LSE halls. Comparative to other LSE Halls, however, urbanest Westminster Bridge is expensive, with the lowest cost for a 38 week contract at £8394.82, considerably more than most... Continued page 3
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