Moving into student houses for the first time can be a bit of a shock to your finances. Even if you’ve lived in university accommodation for your first year, there are a few extra things to think about when you move into private student houses in Lancaster. Let’s take a look at how it works in general, and how choosing Lancaster Student Lettings can make life easier.
Before You Move In
Before you move in, you will have to give the name of a guarantor. This is someone who agrees to be legally responsible for your rent if you fail to pay. This is normally your parents or guardians, but it doesn’t have to be. It can be any other relative or family friend who agrees to back you up if you need it. You should be clear with your guarantor about how much they could be liable for, even if they are very unlikely to ever have to pay anything.
Your Deposit
Most landlords will ask for a security deposit to cover any breakages or property damage. If you look after the place, then you will get this back at the end of your tenancy, but don’t count on it. If there are repairs that need to be done or fixtures and fittings that need to be replaced as a result of you living there, this will come out of your deposit.
Deposits can vary widely, and you’ll often hear nightmare stories of landlords charging four figure deposits and then refusing to give them back for the pettiest of reasons. You should make sure your deposit is reasonable and that it is guaranteed. Lancaster Student Lettings only charge a £200 deposit and provide a deposit guarantee scheme that ensures you will always get your money back if the property is in good order.
What You Pay And When
Generally, landlords in the student housing market understand how your finances work and will charge rent on a termly basis. This means you don’t have to make your student loan last so you are still able to pay rent in the last weeks of term. Lancaster Student Lettings arrange their rent payments to work with student loans, so don’t worry if your money hasn’t arrived before you have to move in.
Getting Help
As a full-time student, you are not eligible for housing benefits or universal credit to help with your rent except under a very narrow set of circumstances. You cannot make a new claim for housing benefits now that universal credit has been introduced, but if you already get it, you may be able to continue. To see which students are eligible for universal credit, visit the Government website.
What To Do If You’re Struggling
For most students, rent is not an issue. Your student loan comes in and your rent goes straight out, giving you peace of mind for the whole term. However, if you are struggling, for example if there is an issue with your student loan application, then it’s important to let your landlord know as soon as possible. Most will do all they can to help you to find a solution, and will be patient until the issue is solved. However, if you bury your head in the sand, then your landlord won’t have the chance to help you and you could find yourself facing eviction for non-payment.
Choose Wisely
At the end of the day, the more professional your landlord is, the more flexible, reasonable and affordable accommodation for students in Lancaster will be. Avoid private individuals with just one or two properties, as they do not have the time or manpower to look after you properly and they may not put your deposit aside as they should. By choosing an established, professional student houses provider, such as Lancaster Student Lettings, you can rest assured that you are in expert, experienced hands dealing with people who understand what you need and when you need it.
