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College Tribune.
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Student Newspaper of the Year 2017
UCD Res Rent Rise Has No Impact on Occupancy Rates Cian Carton | Editor
• Licence fees for 2017/2018 increased by another 3%, on the back of 7% and 13% rises over the past two years
• UCD Residences down 47 Beds after Dominican Order declines to renew Muckross Halls lease
C
ontinuous price hikes for on-campus accommodation has had no effect on the demand for beds in the UCD Residences. Information obtained by the Tribune has revealed that on-campus accommodation occupancy rates averaged 94% in September 2016, 99.1% in October 2016, and 98.2% in March 2017. Only Roebuck Castle Catered and the now closed Muckross Halls Residence had less than 92% of their rooms filled for the start of the last academic year. Once the year began, occupancy rates rapidly rose, with 6 of the 9 Residences at over 99% capacity in October 2016. UCD’s most recent development, Ashfield, opened last year. 340 of its 356 beds were filled in September 2016. It was at
full capacity in both October 2016 and March 2017. Accommodation costs for last year were €8,104 for the two semesters. This year, the rate is €8,334. Construction costs were estimated at €15.5 million last year, while income of €2.8 million was projected for its first year. After letting out all of its rooms during the year, UCD should achieve this projected income target. The 2015/2016 academic year saw a 13% increase in rent, as part of UCD’s plan to raise its residency fees by 40% over three years. A further 7% increase was implemented for the 2016/2017 year. Conor Viscardi, then UCD Students’ Union President, confirmed that rent increases for 2017/2018 would be in the “range of 2-3%.” Last year, the Tribune revealed that
UCD received €18 million in income from student residences in 2015. Maintenance expenses cost €7.7 million, leaving the university with over €10 million in profit. A full 3% increase has been applied to licence fees this year. The cost of utilities, insurance, and catering is the same as last year. For example, the licence fees for Ashfield, Glenomena, Proby, and Roebuck Castle were all € 7,673 for 2016/2017. The €230 rise for each of these puts the licence fee for this year at €7903, or a full 3% price hike. The increase meant the price for each of the residences went from €8,104 to €8,334. This represents an overall increase of 2.8%. Image: landdirect.ie