A-Level results arrived around the UK last week, deciding for many young people whether they will face a tough jobs market now or the excitement of university.
The latter brings with it its own challenges, though, as student housing supply struggles to meet increasing numbers of applicants from both the UK and overseas. Costs are increasing, too, with rents up by as much as 25 per cent in some towns compared to last year.
With occupancy rates for university accommodation at all-time highs, what can students do to find housing without breaking the bank? Simon Thompson, co-founder of AccommodationforStudents.com talks to About Property, and offers some top tips, many of which apply to both school leavers and student property investors:
Landlords are your friends
"There is plenty of good quality private rented accommodation available in the form of house shares, rooms in private houses, flats and even private sector halls of residence," says Thompson. Indeed, with buy-to-let lending increasing in the UK and landlord optimism high, private housing for students is popular with both tenants and investors.
Set your budget
"The cost of private rented accommodation varies considerably between university towns," explains Thompson - an important point for both students and landlords. "This year, Pontypridd is the cheapest at £46," he adds. London is the most expensive with a weekly average of £107.29.
It's a point worth bearing in mind for landlords looking for large yields, too, with many regional towns, such as Leeds and Sunderland, offering stronger returns on investment than the UK capital.
Take your time
"Take a couple of days to go and view different types of properties," advises Thompson. "Even though it's a fast moving market, don't be pressured into making a decision immediately, get a good feel for what's about first."
Make an inventory
"You will be required to pay an upfront deposit of one month. Ensure that your landlord or agent has a thorough inventory detailing all household contents and condition. This will avoid any disputes over the returning of your deposit at the end of the tenancy."
Enjoy
"University is a great experience and one that shouldn't be clouded with disappointed that you didn't get your first choice. It's an opportunity to learn, meet new people and later, find employment, so get as much out of it as you can," he concludes.
Ready to go back to school?
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