University College Dublin made €27.5 million in rental income from student accommodation in 2017.
This is nearly over €10.3 million more than the college made in 2014.
Third level institutions in Dublin have increased their rents by 11.5% ahead of the 2019/2020 academic year, the Irish Independent reports.
Furthermore the new 4% rent increase caps brought in by Housing Minister Eoghan Murphy don’t come into effect until next week.
Meanwhile Trinity College made over €13 million in income from its student accommodation in 2018.
This is up €3.2 million compared to the €9.8 million they made in 2014.
The college spent €2.1 million per annum on maintenance and renovation.
DCU’s rental income doubled from €3.4 million to €8.9 million from 2014 to 2017.
The reason for the increase was due to the fact that the university incorporated three other colleges, a statement from DCU revealed.
And the increase was also attributed to "cost recovery associated with a major investment in student accommodation" as well as a major increase in occupancy of accommodation in the summer.
