December, 2009

Thursday, December 31st, 2009

Securing your student property

You must secure your chosen student accommodation with a financial commitment – either a Holding Deposit or a Retainer.

Holding Deposit

This isn’t the same as the deposit you’ll pay in your Tenancy Agreement against any damage you cause to the property. The Holding Deposit is a fee to reserve the house for you whilst your references (and perhaps credit record) are checked. This deposit will not be refunded if you then decide not to take the property, or if your references are unacceptable. It will be refunded if the landlord decides (for some other reason) not to let the property to you before the Tenancy Agreement is signed.

It’s important to get the contract signed promptly, to avoid panics at the start of term if the landlord reneges on your reservation. It can be tricky, with shared student accommodation, where some of the signatories are away on vacation. Remember, contracts can be signed and then posted on, if necessary.

Retainers

Retainers are usually associated only with houses for students. A retainer is a sum of money – usually half a calendar month’s rent – paid to the landlord to ‘save’ the property for you through the summer holidays. Again, retainers are non-refundable. The retainer period forms part of your letting agreement, though you will probably not be occupying the house. The arrangement works well for both parties. You pay less up-front, and can store your stuff in the house, whilst the landlord has access to the property for maintenance and refurbishment. The arrangement has flexibility, but we at Househustler.co.uk always recommend fair and reasonable negotiations.

Monday, December 28th, 2009

View several student homes before signing up

At Househustler.co.uk we recommend viewing several student homes before signing up. Take someone along for a second opinion. Take notes and photos for each property, to augment information in agent’s details.  Consider the internal features:

  • Is the house clean? Check often-overlooked areas like inside ovens and cupboards and behind the toilet. The letting contract turnaround should allow time for cleaning between tenancies. Check who is responsible for this. (It could be hired contract cleaners – or it could be you, at the end of your tenancy!)
  • Are bathroom and toilet facilities adequate for the number of sharers?  Check all taps and showers work, and that water pressure is sufficient.
  • Ascertain the age and service history of the central heating boiler (Google the make and model, and check any service contract records.) If possible ask previous tenants about any problems or quirks.
  • Ask to see the Gas Safety Certificate for all the property’s gas appliances. Make sure it is current i.e. less than 1 year old.
  • Of the visible household contents, which are inventoried as belonging with the tenancy? (Viewing occupied houses can give false impressions.) If any essential items are missing (e.g. a cooker or bookcase) ask for them to be provided within the agreement. You can also request non-essentials, but expect to pay extra.
  • Is there a washing machine? If so, how old and reliable? Check for signs of leakage.

Student accommodation needn’t be luxurious, but should have all the basics and be comfortable.

Thursday, December 24th, 2009

Look at external features of student property

When viewing houses for students, external features are as important as internal ones. At Househustler.co.uk we recommend you take a good look round the outside of your potential new home before even venturing inside.

  • Is security up to standard? Most insurance policies now require ground floor window locks all round, and 5-lever deadlocks on all external doors. Is outside lighting adequate? Automatic security lights are ideal, but even good street lighting is better than nothing on dark nights.
  • Is there front and back access, at least on foot? (Two exits are far safer than one in an emergency.)
  • Externally, is there any damage to windows, guttering or roofing? (You are not responsible for these, but they could lead to internal problems.) Insist any damage gets fixed before your tenancy starts.
  • Is there reasonable disability access? (You might not need this yourselves, but friends who visit in future may.)
  • Does the doorbell (or intercom system) work?
  • Is there a garden or yard? If so, will you be responsible for maintaining it? (In which case, your landlord should provide the necessary tools.)
  • Is there a shed, or lean-to, to store bicycles or other kit? Check the locks on gates and shed doors.
  • Is there off-road parking for any vehicles you may have, or may have visiting?

Student homes may not always be in the ‘best’ areas of town, but they should be in good repair, and safe and convenient to live in.

Monday, December 21st, 2009

Budgeting for student homes

Costs for student property vary regionally. University Accommodation Offices will offer guidance on average prices locally, and what to include in budgeting.

Rent
This is your largest expense. Don’t assume that house sharing with many people will wonderfully reduce your rent. New regulations mean that student homes sleeping five or more are classed as Houses in Multiple Occupation.  This involves the landlord in a mandatory licensing scheme and considerable extra expense, which must be recouped through higher rents. Remember, once you sign the Tenancy Agreement you are legally committed to paying the rent till the contract’s end – even if you leave before that.

Utility Bills
Budget for electricity, gas, water, and possibly a telephone landline. Consult the property’s previous utility bills to gauge costs. Your Energy Performance Certificate (which the landlord or agent should provide) will tell you roughly how energy-efficient the property is, but won’t help in estimating actual monetary costs.

TV Licence
A property rented out on a shared tenancy basis needs only one TV licence. If rooms are rented individually, though, each TV in the house requires its own separate licence.

Contents Insurance
Student houses are often burgled. At Househustler.co.uk we strongly recommend you protect yourself with adequate contents insurance. Ask your Accommodation Office for information on any special deals.

Council Tax
Now the good news: full-time students are exempt from Council Tax. Get your Exemption Certificate from your Accommodation Office and give a copy to your Local Authority. (Unfortunately, part-time students are not exempt).

Thursday, December 17th, 2009

How to choose a student property

When choosing your new student accommodation, you should fully grasp the differing contractual arrangements for each one you view. At Househustler.co.uk we suggest you ask these questions:

  • How long has the property been available? If it’s been vacant for ages – why? (Is there a problem with maintenance, or neighbours?) Perhaps you could negotiate a price reduction.
  • How much was the house rent last year? (Consult previous tenants or perhaps neighbours.) Is any increase justified by improvements – or is it a try-on? Negotiate wherever possible.
  • How long is the Tenancy Agreement for? Student lets are normally for 12 months, but in non-student areas you may be able to get shorter periods.
  • Is there a Break Clause in the Tenancy Agreement? (This allows both parties to the contract to end the tenancy after six months with two month’s notice on either side.) If not, request one. It enables you, in effect, to get the length of tenancy you actually want.
  • What deposits are required (as a Holding Fee and against damage) the equivalent of a calendar month’s rent is customary. You may also be asked to pay various ‘administration fees’, and sometimes even a month’s rent in advance. Know exactly what’s required before you commit.
  • What is the timetable, and acceptable methods, for making payments?

Houses for students, especially in established student areas, tend to have similar Tenancy Agreements, but small variations could help you pick the ideal accommodation for you.

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