Do you know what to check when signing your tenancy agreement? Here's our guide for students
Choosing where you’re going to live whilst studying at university is probably one of the biggest and most important decisions you’ll need to make at university. It’ll be where you’ll be spending a lot of your time, meaning that you have to put in a bit of effort to find the place that is right for you.
Once you’ve found your perfect place on the StudyFlats website, you’ll need to sign a tenancy agreement. A tenancy agreement is a legal contract between you and a landlord that you will both agree to take on certain commitments. In your case, it’ll be committing to paying a certain amount for rent every month or year. But what do you need to know before you sign on the dotted line?
Read on for our guide on what to check when signing your tenancy agreement.
Type of contract
For student lettings, contracts are often what is called an assured shorthold tenancy agreement for a fixed term of 12 months. There are two types of these such an agreement. An individual contract is between you and a landlord. If you’re living with a group of people, and you decide to leave the house or pay the rent late, only you will be liable. With a joint tenancy agreement, everyone named on the agreement is responsible for the property and any rent or fees owed.
Guarantors
If you are living as a student, or you have recently moved to the UK, the chances are that you will either not have had much in the way of an employment history, or evidence that you have the funds needed to commit to a tenancy. This is why most student landlords require you to have a guarantor. A guarantor is someone who is legally obligated to pay rent on your behalf if you cannot for any reason. Be sure to check out our guide on guarantors for more information.
Deposit protection schemes
A deposit of around one month’s worth of rent will normally be taken at the time of signing a contract by a landlord, usually to cover any damage or late payment of rent. By law, landlords must put all deposits taken into a government-backed and approved deposit scheme within 30 days of taking your money. There are only three approved schemes in the UK: the Deposit Protection Service (DPS), MyDeposits, and Tenancy Deposit Scheme (TDS). Usually, at the end of your tenancy, you will get back some or all of your deposit.
The fineprint
They might be long, boring documents, but tenancy agreements are important. Miss something out, and you may feel the impact of your mistake for a whole year. Make sure you check:
- The start and end date of your tenancy.
- The amount of rent to be paid.
- If bills are included or not.
- Whether or not an inventory as been taken.
- Your obligations in detail (normally things like no pets and so on)
That every tenant’s name is on the agreement, as well as the name of your landlord.
By making sure that your tenancy agreement is all in order, you’ll be able to spend your time focusing upon your studies, and not having to worry about your housing situation. Remember, you can always seek advice from the housing advice services offered by your university or students’ union if you are not sure about something, and you are never under obligation to sign a contract with any one landlord or provider.
These are what to check when signing your tenancy agreement
Looking for your next student house? Be sure to check out the StudyFlats website for more.
