Book a Property Valuation

Fees and costs

Student Guides The Guild 24th April 2017

You will be responsible for more than just the rent – this is a list of costs you should be factoring in: 

Deposit.
Having this ready is a good idea, meaning there is no delays. 

Rent.
This is the most obvious expenditure, and you will know this upfront. However, be aware of the due date and ensure you have enough in your account to cover it.

Heating.
This is a less obvious cost, although if you’re just renting a room it may be that it is included in your rent. If you’re living in a house share and it isn’t included there are a few things to consider: 

  • Old heating systems are often less efficient, which may mean it’s more expensive.
  • Bigger rooms mean bigger space, which can mean more heating expense.
  • Is there instant hot water? If it is instant, that will mean you aren’t paying for hot water you aren’t using.
  • Gas-fired central heating is generally the cheapest.




Water charges.

  • Check whether water is included up front.
  • Ask whether you are on a standard tariff or water meter – if you are on a water meter you should know where it is and take a reading as soon as you move in, a photo on your phone is a good idea, this way you won’t be paying for water you didn’t use.
  • There will only be one water supplier for your area which makes finding the right contact easier and there is no competition over prices.
  • If you are living in a house share, adding everyone’s name to the bill will mean you are jointly responsible if you fall behind on the payments.
  • With a standard tariff, you could be required to pay quarterly or monthly. With a meter it is more likely to be every six months.
  • Be sure to take another reading when you move out, again to be sure you aren’t paying for water you haven’t used.


Council tax. 
If a property is wholly occupied by full-time university or college students, it is exempt from council tax. Citizens Advice has full details on council tax in student housing. 

Internet.
This is another cost which you’ll need as a student. Save the Student takes a look at some of the best Broadband deals for you and a closer look at what exactly it is that you need – for example, how much data allowance will you require, as well as the length and cancellation information. 

©2017 The Guild of Property Professionals. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Members Login
GPEA Ltd. Registered in England & Wales.  Company No: 02819824.  Registered Office Address: 121 Park Lane, London W1K 7AG.  VAT Registration No: 576 8795 61