Renting University Rooms: Student Status And Requirements

Student housing is a special accommodation arrangement designed to meet the needs of students during their academic years. This includes a variety of living situations, such as on-campus and off-campus housing, student co-ops, and student apartments. While student housing is primarily intended for students, there may be instances where non-students can rent these accommodations. For example, if the student housing is an apartment building that caters to students due to its proximity to a university, non-students may be able to rent there as well. However, this is not usually the case for residences that are part of a college or university campus. Additionally, the availability of student housing for non-students may vary depending on the specific policies and regulations of the university or housing provider.

Pros and cons of renting to students

Pros of Renting to Students

• High demand: There is a constant demand for housing near universities, as many colleges and universities do not offer students housing for their entire course period.
• Higher rents: Students often live with roommates, so they can split the rent payment. Since demand for housing near universities is high, landlords can charge more.
• Third-party payment: Students often have their rent paid by someone else, such as their parents or financial aid.
• Word-of-mouth: Students talk to each other about desirable rental properties, so vacancies are easily filled.
• Low expectations: Students are often satisfied with less, as they are more focused on school and their social lives than on the finer details of their apartment.
• No personalizations: Students are not particular about making alterations or personal touches to the property.

Cons of Renting to Students

• High turnover: Students tend to sign short-term leases, so landlords may have to deal with frequent vacancies and the hassle of finding new tenants.
• Limited screening options: Students often have little to no rental or credit history, making it difficult for landlords to screen them effectively.
• Contract violations: Students may disregard lease terms such as noise constraints, visitor policies, and the number of occupants.
• Property damage: Inexperience with property maintenance and money management may lead to damage and pest infestations.
• Summer vacancies: Many students go home during the summer months, making it challenging to fill vacancies during this period.

How to appeal to students

Location, location, location

Students will be looking for accommodation that is centrally located and within easy reach of the university campus. If your property is near university buildings, that's a major selling point. If it's not, highlight how well-connected the property is to local transport links.

Space and facilities

Students will be looking for a property with enough personal space, shared space, and facilities. Additional bathrooms and extra WCs can add to the appeal, and a garden is always a bonus. Ensure there is enough space in bedrooms for a bed, wardrobe, drawers, desk, and chair. Students will also be looking for good WiFi, so make sure broadband is included.

Furnishings

Students will be expecting a fully furnished property. In each bedroom, provide a bed, wardrobe, drawers, desk, and chair. In the communal sitting area, provide enough sofas for all tenants. Carpets, curtains, and lampshades should be provided and clean at the beginning of each tenancy.

You can save money on furnishings by buying cheap and cheerful items from shops like Ikea and Argos. You don't need to spend a fortune, but do make sure all appliances are easy to use and in good working order.

Bills

Students often prefer to have bills included in the rent for convenience. Consider offering rent that is all-inclusive of bills to appeal to student tenants.

Guarantors

Students may not have an established credit history or a regular income, so ask for a guarantor. This is usually the student's parent or guardian, who agrees to cover the rent if the student is unable to pay.

Timing

The search for student accommodation can begin up to 8 or 9 months ahead of the new academic year. Start advertising early—from January or February onwards.

Marketing

Use a letting agent to market your property locally, on property portals, and with the university. Make sure your property is listed on leading online platforms such as Rightmove and Zoopla. Take good photos and promote features that will appeal to students, such as proximity to the university campus and local venues, and any modern appliances or ensuites.

Deposits

By law, you must protect your student tenants' deposits in a Government-approved scheme within 30 days of taking them. This ensures their money is safe and that you cannot evict them with a section 21 notice if you fail to do so.

Safety

As a landlord, you must fulfil all your usual responsibilities, including gas and electrical safety, fire safety, and deposit protection. You may also need to apply for a Houses in Multiple Occupations (HMO) license if you are renting to several students who are not from the same family group.

Student renter's guide

Student Renters Guide

Renting your first place is an exciting step towards adulthood and independence. It can also be a little intimidating, especially if you're a student renter. But don't worry, you're not alone! According to a study by the Joint Center for Housing Studies of Harvard University, 78% of householders under the age of 25 are renters. This guide will take you through the process step-by-step, from finding the right place to filling out your rental application and everything in between.

Step One: Do Your Research

First things first, you need to know what you're looking for. If you're a student, you'll have some specific factors to consider, such as the distance from your school and whether the landlord accepts student renters. It's a good idea to speak with other students who have lived off-campus or with your school's off-campus housing office to get a sense of the rental market in your area. This will help you narrow down your search to the right neighbourhoods and save you time.

Step Two: Define Your Budget

Now it's time to crunch some numbers. As a general rule, your rent should be no more than 30% of your monthly income. As a student, you might not be working full-time, so your budget will depend on your financial situation. Do you have funds from your parents or guardians? Are you using a housing stipend, scholarship money, or a loan? Once you know how much money you have to work with, you can start to figure out what you can afford in terms of rent and utilities.

Step Three: Find Your Roommates

Having roommates is a great way to save money on rent, and many students choose to live with friends or classmates. If you decide to go this route, make sure you find and pick your roommates before you start viewing apartments, as you'll likely need to apply and sign the lease together. It's important to choose roommates that you're compatible with, not just people you like. Do you have similar lifestyles? Are you in the same stage of life? Are your sleep schedules and work/study hours compatible? These are all things to consider when choosing a roommate.

Step Four: Start Your Search

Now the fun part begins! You can start by searching for apartments online, using specific neighbourhoods or cities as your search criteria. You can also drive or walk around the areas you're interested in to get a feel for them and perhaps spot some "For Rent" signs. Don't forget to check out online groups and forums, like those on Reddit or Facebook, which can be a great source of information and listings.

Step Five: Fill Out a Rental Application

Once you've found the perfect place, it's time to fill out your rental application. Be prepared to provide some personal information, such as your social security number. You may also need to pay a fee, depending on your location. If you're a first-time renter, don't worry! Just be honest about your situation in the rental history section, and explain that you're a student. You can also list former employers or co-workers as references, as they can speak to your character and work ethic.

Step Six: Guarantors & Co-signers

As a student, you might not have a rental or credit history, so landlords may require you to have a guarantor or co-signer on your lease. This is usually a parent or family member who agrees to be responsible for the rent if you're unable to pay. Make sure your guarantor meets the requirements, which may include being over 21, having a good credit history, and providing financial documents.

Step Seven: Sign the Lease

Congratulations, your application has been accepted! Now it's time to sign the lease. Don't forget that this is a legally binding contract, so make sure you read the fine print and understand all the terms before signing. Some things to look out for include the monthly rent amount and due date, the lease duration, any additional fees, quiet hours, and eviction policies.

Step Eight: Get Ready to Move

You've signed the lease, and now the real work begins! Start by packing non-essential items a couple of months in advance, and don't forget to research professional movers if needed. As your move-in date approaches, you can start packing more, and don't forget to label your boxes to make unpacking easier.

Good luck with your move!

Landlord's responsibilities

If you are a landlord, you have a number of responsibilities that you must fulfil by law. These include:

• Keeping your rented properties safe and free from health hazards
• Ensuring all gas and electrical equipment is safely installed and maintained
• Providing an Energy Performance Certificate for the property
• Protecting your tenant's deposit in a government-approved scheme
• Checking your tenant has the right to rent your property if it's in England
• Giving your tenant a copy of the 'How to Rent' checklist when they start renting from you (you can email it to them)

You must also:

• Fit and test smoke alarms and carbon monoxide alarms
• Follow fire safety regulations for properties in purpose-built blocks of flats or for houses and properties adapted into flats

Health and Safety Inspections

The Housing Health and Safety Rating System (HHSRS) is used by your council to ensure that properties in its area are safe for the people who live there. This involves inspecting your property for possible hazards, such as uneven stairs.

Financial Responsibilities

You may have to pay Income Tax on your rental income, minus your day-to-day running expenses.

Tenancy Deposits

You must protect your tenant's deposit in a deposit protection scheme if they are an assured shorthold tenant. If you do not protect their deposit, they can claim compensation, and it will be harder for you to end the tenancy.

Repairs

You are responsible for most repairs in your rented property. This includes:

• The structure of the property, for example, walls, roof, windows and doors
• Sinks, baths, toilets
• Heating and hot water, for example, the boiler
• The safety of gas and electrical appliances

You must also make reasonable adjustments to the property for disabled tenants, for example, installing a handrail to help them get upstairs.

Right to Rent

Before the tenancy starts, you must carry out a 'right to rent' check on anyone who wants to rent a room or a property. You must also provide certain documents, including an Energy Performance Certificate (EPC) and a gas safety certificate if your home has gas appliances.

Rent and Rent Increases

You must tell your tenants when and how their rent should be paid. If they pay weekly, you must give them a rent book.

Letting Tenants Enjoy Their Home

You must let your tenants live in their home without disturbing them. You should not enter their home without their agreement, and you should not harass them or make it hard for them to live in their home.

Eviction

If you wish to evict your tenants, you must follow a legal process. If your tenants have an assured shorthold tenancy, you must ask the court to evict them if they stay after their notice period ends, and then ask the courts to evict them with bailiffs.

Additional Responsibilities for Houses in Multiple Occupation (HMOs)

If your property is an HMO, you have extra legal responsibilities, including fire and general safety, water supply and drainage, and the general upkeep of the home.

Student renter's budget

Student Renters Budget

Renting your first place is an exciting step towards adulthood. It gives you the freedom to decorate and decide how to stock your fridge. However, it also comes with responsibilities, like paying rent and utilities on time, and keeping the place clean.

As a general rule, your rent should be no more than 30% of your net income. So, if you're bringing in $2,000 per month, try to keep your rent under $600. This will ensure you have enough money left over for other expenses.

Income

Before a landlord will approve you to live in a rental property, you'll usually have to prove your income. They want to be sure that you can manage to pay your rent every month. If you don't have a job, don't panic. There are other options.

Guarantors

One option is to get a guarantor. A guarantor is someone who signs the lease with you and guarantees they'll cover any rental fees you're unable to pay. This is often a parent or close family member.

Roommates

Another option is to find roommates to share the cost of rent and utilities. Many colleges offer roommate-matching services for students looking for off-campus housing, or you can use websites like Room Surf and U-loop. Just make sure you find roommates you can trust, as you'll be liable for their portion of the rent if they can't pay.

Scholarships and Part-Time Jobs

You could also look into scholarships or take on a part-time job to boost your income.

Utilities

Don't forget to factor in the cost of utilities, which can add up quickly. These include gas, water, electric, internet, cable, and possibly renters' insurance. Many landlords include some or all of these in the monthly rent, so look out for these promotions when searching for a place to rent.

Security Deposits

Most landlords will also require a security deposit, which is a lump sum of money that covers any unpaid rent or damage incurred during your residence. On average, the security deposit is equal to one month's rent, so this will need to be factored into your budget.

Other Expenses

Finally, remember to budget for other expenses like food, groceries, transportation, and entertainment.

Timing

Start your apartment search early, as timing varies depending on your rental market. In some cities, it's common to sign a lease months in advance, while in others, you may only have a few weeks.

Research

Do your research on the rental market in your college town, and speak to other students who have lived off-campus. They can give you insights into the right neighbourhoods to look in and help you narrow down your search.

Budgeting

Once you know your budget, you can determine exactly what kind of apartment you're looking for. Use an online rent calculator to help you work out the ideal rent payment based on your income and other expenses.

Application Fees

Keep in mind that most landlords will require a fee to fill out a rental application, so be prepared for this extra cost.

References

When filling out a rental application, you'll need to provide references. Former landlords or property managers are ideal, but if you've never rented before, you can also use former or current employers, family friends, or community leaders.

Lease Terms

Before signing a lease, make sure you understand the terms. Confirm the monthly rent and due date, the start and end date of the lease, and any other fees or restrictions included in the lease.

Furniture

Finally, remember to budget for furniture. If you've been living in a dorm room, you might not realise how much furniture you need to fill a traditional home or apartment. You can furnish your place frugally, but it will still be a cost to consider.

Frequently asked questions