subject: Protecting your deposit as a first-time student tenant [print this page] When you are a student renting a property for the first time, there are many things to remember and organise. These range from ensuring that your finances are in shape, such as your student loan, to getting hold of all of the books, equipment and materials required for your studies. So here is some advice about one of the most important aspects relating to your student property: your deposit.
Cash is an important consideration for students, and a deposit will be required on a student property by the majority of landlords, so make sure that you have put the money aside, perhaps from a part-time or summer job ahead of the coming term. The deposit will normally be asked for by the landlord alongside rent for the first month, and this can be quite a sum to stump up for the average student. You can, however, spread the cost amongst any housemates you have, so make sure that the amount that each of you will contribute to the total has been agreed and calculated.
Your tenant deposit money has to be protected by law. Three authorised schemes exist for the use of your landlord. Make sure that your deposit is being protected by your landlord, and that he has given you proof of protection.
Also be aware that a deduction from your deposit will probably occur in the event of any spills or damage to the student accommodation. To avoid this, try to take care of the property, keeping it as clean and tidy as it was when you first arrived, although this doesn't necessarily mean that you can't have parties. Read the contract's terms to ensure that no rules are being broken. There could be points in the contract about everything from keeping the garden tidy to keeping nails out of the walls.
Above all, remember to stay informed, study hard and have fun.
Protecting your deposit as a first-time student tenant
