The cost of private rented accommodation varies depending on the type of home you choose, we can give you some general advice and guidance on what to include when working out your budget whist at University.
Rent:
The general rule is that cost per sharer falls as the number of people sharing increases but this tends to be capped at 4 people. Most student houses capable of sleeping 5 or more people will be classed as Houses in Multiple Occupation (HMOs). Paying the rent has to be your number one priority and remember that once you sign a Tenancy Agreement you are committing yourself to paying the rent for the term of that agreement (even if you move out!).
Utility bills:
Gas and electricity may add as much as £10 a week to your expenditure during the winter months. Encourage your house mates to preserve energy. If they think you are tight tell them that you are concerned about your carbon footprint. All tenants moving in to a rented property must be provided with an Energy Performance Certificate. You will then be able to take how energy efficient a property is into account when viewing. The certificates are valid for 10 years although may be renewed voluntarily by a Landlord at any time.
TV Licence:
If a property is rented on a shared basis then only one TV License will be required. If you have an individual tenancy for your room but share the communal area then you will need a license for each TV in the house. If you go home for the summer you can claim a pro-rata refund on your TV license for that time.
Council tax:
Full time students are exempt from paying council tax. Your university’s Accommodation Office should issue you with a Council Tax Exemption Certificate. You should give a copy of this to the Local Authority to prove that you are a full time student.
The more you plan your budget the less likely you are to run out of money each term. Aslo consider the future, you may have fun spending your student loans on nights out but after University this will need paying back. Consider a part time job to keep the money coming in and to reduce the amount of time you have available to spend it!
If you are looking to rent for the duration of your university stay please get in touch with Beloir the one stop specialists for letting and property management. For more information please call 0114 276 0462 or alternatively please email us at sheffield@belvoirlettings.com.
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