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Establishing your accommodation budget
The cost of private rented accommodation varies considerably between
university towns. A survey by http://www.accommodationforstudents.com/
in March 2007 showed the average rent for student accommodation to be £60/ week
although this encompasses large regional variations. London is
the most expensive area for student to live at £102/week with the cheapest being
Crewe at just £37/week.
Your university’s Accommodation Office should be able to give you some
approximate figures for your area. Whilst we can’t tell you exactly what the
rent will be for your area we can give you some general advice and guidance on
what to include when working out your budget.
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). This gives the Landlord a considerable
administrative burden which will be recouped through the rent charged.
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.
From October 2008 all rental properties will have to have an Energy
Performance Certificate which will rate a property’s energy efficiency. You will
then be able to take this into account when viewing properties.
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.
Try to
avoid sharing with part-time students as they are not exempt. Even though full
time students are disregarded when the charge is calculated the household may
decide that it is unfair for the part-time student to pay the entire Council Tax
bill on their own.
Contents Insurance
Student properties offer rich
pickings for burglars. You need to protect your valuables with contents
insurance. There are a number of insurance companies that offer specialist
student policies. Ask your university's Accommodation Office if they have any
special offers that they can pass on to you.
Endsleigh
Insurance
Student
Budget Calculator
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