UK Guarantor guide to shared housing
A common pattern for many International students studying in the UK is to move on from Halls of Residence at some point during their time in the UK. Once you are in the UK and have made new friends, there is a wider choice of accommodation open to you than when you initially made the move to the UK.
UK Guarantor guide to shared housing
Around half of the full time student population at UK Universities lives in shared housing. It is fair to say that both Halls of residence and shared houses have their strengths and weaknesses, but shared housing is generally cheaper. The average Private Hall will cost £145 per week (£275 in London) while a house will cost you £80 per week (£122 in London). That is quite a bit less, even when you factor in paying your bills, which might not be included in the rent.
Will I need a UK Guarantor?
In the UK most landlords and property managers will ask for a Guarantor for your rent. This is because most students who are studying at a UK University will be renting a property for the first time. This means that there is no established rental history that can verify whether or not you will be a reliable tenant. As a result a guarantor is required. In most (but not all cases) the Guarantor will need to be UK based.
Halls v Landlords
Generally Private Halls will want a Guarantor in place. If you don’t have one you will be required to pay your rent in advance. Shared housing is generally managed by a landlord or agent and their guarantor requirements may vary. Some landlords or agents will ask for a UK based guarantor and others will not. Furthermore those that do ask for a UK Guarantor will have a different approach to those students who can’t provide one.
67% of landlords and agents ask for a Guarantor
In our most recent piece of research 67% of landlords and agents told us that they would ask a student tenant to provide a UK guarantor. If you don’t have one then you can expect 20% of landlords and agents to ask you to pay all of the rent in advance. Of the rest just over half of them will need 6 months upfront and the remaining 30% are a little more flexible. If you need some help understanding your options or looking for a great place to live contact us here and we will be pleased to help you.
Start planning now
Whatever your plans for next year it is a good idea to start making your plans now. Timing your house hunting is important. There is no need to commit to a new tenancy too soon, however it is important to start early enough to ensure that you have access to the widest possible range of properties – both in terms of quality and rent.
Need some help?
UK Guarantor offers a free property search. Just give us your details and we will send you a list of accommodation options to match your requirements. If you prefer to do things yourself then we suggest visiting www.accommodationforstudents.com as it has the widest range of student accommodation and includes every student city and town.
The importance of the landlord or letting agent
Most students tell us their main consideration when choosing a property is location then price. Finding a place to live in a student friendly location, close enough to get to University and within your budget is important, of course. However, if you are looking to rent shared housing for the first time, the landlord or letting agent is also very important. You are much more likely to have a positive experience in a well manged property. Any maintenance work will be carried out efficiently and there is less change of disputes over deposits and damages. A key piece of advice is to speak to the current tenants about their experiences and to look for membership of credible accreditation schemes such as that run by Unipol or members of industry bodies like Arla. Taking this precaution should ensure that your transition from Hall to house is a smooth as possible.
If you need any advice on finding a place to live or on securing a UK based guarantor, contact us today