Moving to University? Your Guide to Renting Student Accommodation
Moving to University? Your Guide to Renting Student Accommodation
Starting university is an exciting new chapter, and for many students it is also the first time they will be responsible for renting their own home.
Whether you are moving into a shared student house, renting a room or finding accommodation with friends, there are a few important things to consider before signing on the dotted line.
Start looking early
Student properties can be in high demand, particularly in popular areas. Start your search early and think about more than just the rent.
Consider:
How close the property is to university
Public transport links
Local shops and amenities
The condition of the property
Whether bills are included
How much you can realistically afford each month
A cheaper property isn't always the cheapest option once you add travel and household bills.
Know your budget
Rent is only part of the cost of living.
Remember to budget for utilities, broadband, food, transport and other household expenses. If you are sharing with friends, agree in advance how bills will be divided and who will be responsible for arranging them.
Also check whether council tax applies to your circumstances. Full-time students are generally exempt, but you may need to provide the appropriate evidence to your local authority.
Understand the tenancy agreement
Before signing a tenancy, make sure you understand what you are agreeing to.
Check:
The amount of rent and when it is due
How long the tenancy lasts
What bills are included
Your responsibilities as a tenant
What happens if someone wants to leave
How the tenancy ends
If there is anything you don't understand, ask your letting agent or landlord before signing.
Be prepared for referencing
You may need to provide identification, proof of your student status and other information as part of the referencing process.
Students may also need a guarantor, often a parent or family member, who agrees to meet certain financial obligations if the tenant does not.
Getting your documents ready early can make the process much smoother.
Don't forget the deposit
You may be asked to pay a holding deposit when reserving a property and a tenancy deposit before moving in. Rules apply to how these payments are handled, and deposits that fall under the relevant tenancy deposit rules must generally be protected in an approved scheme.
Always keep copies of your paperwork and receipts.
Check the property when you move in
When you collect the keys, carefully check the property and its inventory.
Take photographs of any existing marks, damage or problems and report anything that needs attention as soon as possible.
Looking after the property throughout your tenancy and reporting repairs promptly can help avoid problems when you move out.
Choose your letting agent carefully
A good letting agent should make the process clear and straightforward.
Ask who will manage the property, who you contact about repairs and what support is available during your tenancy.
Don't feel pressured into signing an agreement you don't understand. A reputable agent will be happy to explain the process.
Enjoy your new independence
Renting your first student property is a big step, but with a little preparation it doesn't need to be daunting.
Start your search early, understand the costs, read your tenancy agreement and ask questions.
At Diamond Estate Agents, we can help students and parents understand the local rental market and find suitable accommodation.
If you're heading to university and looking for somewhere to live, speak to the Diamond Estate Agents lettings team today and let us help you take the next step.