Finding student accommodation can be a daunting task. With so many options available, it can be hard to know where to start. That’s why we’ve created this ultimate guide. In this article, we’ll talk about how to find the right type of property, and we’ll give you some tips on how to save money on your rent. So, whether you’re just starting out your search or you’re almost ready to sign a lease, read on for all the information you need!
When it comes to finding student accommodation, there are two main options: house share and halls of residence. House share is when you rent a room in a property that is already occupied by other tenants. Halls of residence are purpose-built student properties, usually owned by universities or private companies. Both have their own advantages and disadvantages, so it’s important to weigh up your options before making a decision.
If you’re looking for student accommodation houseshare, the best time to start your search is around April or May. This gives you plenty of time to find the perfect place before the start of the academic year in September. However, if you’re looking for halls of residence, you’ll need to apply through your university as early as possible, as places fill up fast.
When it comes to budgeting for your student accommodation, the biggest expense will be rent. To save money on your rent, consider looking for a houseshare with other students. This way, you can split the cost of rent and bills between a group of people. Another way to save money is to look for properties that are slightly further away from campus or town centre. While this may mean a longer walk or cycle to lectures, it can also lead to cheaper rent prices.
Saving money for your deposit
There are two different types of deposits to be aware of when renting a property:
Holding deposit
There is also a holding deposit that the agent takes to guarantee the property and remove it from the market. When contracts are completed, this payment will typically be deducted from your tenancy deposit. A holding deposit is non-refundable if you decide against leasing the property.
Tenancy deposit
The tenancy deposit is the amount of money kept by the landlord throughout the tenancy, which will be used if any repairs, maintenance, or cleaning are required as a result of tenant negligence to return the property to its original condition. The amount of money may differ, but it will generally be around £250. At the end of your stay, if you leave the property in good condition, you will get your cash back.
All deposits are put into a government approved tenancy deposit scheme for safe keeping. There are three different schemes available to landlords and Agents: The Tenancy Deposit Scheme (TDS), the Deposit Protection Service (DPS) or My Deposits. The schemes are either insurance backed (where the Agent or Landlord holds the deposit under an insurance policy) or Custodial (where the deposit is sent off to be held by the scheme provider). Money cannot be deducted from your deposit without your prior agreement or by agreement by the scheme’s dispute resolution service.
Other items to budget for in student accommodation:
Council Tax
If you are a full time student, you are exempt from paying council tax. To do this, you will need to obtain an exemption certificate from registration at your university or college and send it in to your letting agent as proof of your status as a full-time student.
Utilities
As a student living in rented accommodation, you may be responsible for paying your own utility bills. This includes gas, electricity, water and internet. You will usually set up these contracts in your own name and will be charged for usage each month. Many landlords will include the cost of utilities in rent, so it’s always worth checking before you sign a lease.
Insurance
While your landlord’s insurance policy will cover the building itself, it won’t cover your personal belongings. To make sure your possessions are protected in case of theft, damage or loss, it’s important to take out contents insurance. This is especially important if you’re planning on bringing expensive items like laptops or bikes with you to university.
We hope this guide has been helpful in giving you an overview of what to expect when searching for student accommodation houseshare. If you are looking for a student house share in Chester, contact Matthews Estate Agents in Chester who can advise on properties available.
