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Guarantors And Student Accommodation

For many students, University is their first experience of living away from home. With all the fun and excitement comes a wave of new responsibilities from budgeting, independent study and for many it involves arranging for a place to live. Many universities offer campus accommodation for first year students, others too depending on availability, as well as arranging housing fairs and other even for students looking to rent off campus accommodation.

First years looking to live on campus normally have a number of payment options including direct debit or paying in person on campus. This process can often be done through a third party such as parents or guardians and do not always require the student to have a guarantor. Off campus housing, on the other hand, do usually require a guarantor in case of failure to make rent payments amongst other issues.

Finding And Securing A Property

When looking for off campus accommodation you can look at university guides, go through a letting agent or look online at different properties before approaching agents for viewings. Note that most agents charge administration fees so be sure to ask about this before finalising any agreements. Agents will on most occasions ask renters to provide a guarantor to settle any bills that are unpaid. A guarantor has to be a working adult who is working in the UK and must also earn a minimum salary of 15 thousand pounds. Be sure that both you and your guarantor have carefully read a fully understood the rental contract before signing any documents as it is not usually possible to make any changes afterwards.

Be Sure Of What You Are Paying For

Another thing to check for is the moving in date and moving out date on the contracts as tenants are liable for all bills between that dates. Any prior outstanding bills for the property do not need to be paid by you unless agreed otherwise. Similarly, when moving out, be sure to settle the bills up to the end of your contract. Some rent prices include bills such as water, gas and electricity so make sure you know what you need to pay for and what falls under your landlord’s responsibility. It is easy to let finances get away from you as a student so be organised, keep a log of your incoming and outgoing payments and plan ahead! University is often filled with years of fun and memories so don’t let money worries get in the way.

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