The student population in the UK has around 2.9 million students enrolled in higher education at any one time, which in itself is a significant number of people adding to local economies and the general vibrancy of towns across the country. This influx of people fuels the local economy from pubs, restaurants, fashion – but most significantly housed. The student housing market alone is a multi-billion pound industry and growing – with forecasts set to increase to £9.5 billion by 2030. These are not necessarily housing estates, says Ben Lanbury-Kelly, but generally terraced houses close to the centre of town. This spending across multiple sub-sectors in the centre of towns, therefore generates jobs and stimulates urban generation. In turn it has a secondary impact on local businesses, recruitment and offers the secondary property element of business residence more value.
The universities with the most students are:
- The Open University (remote university) (~133,000 students)
- University College London (~51,000 students)
- The University of Manchester (~47,000 students)
- The University of Edinburgh (~41,000 students)
- Manchester Metropolitan University (~39,000 students)
Ben Lanbury-Kelly: Tips for Student Rental
1. “Start Early” Ben Lanbury-Kelly estates
Student housing is a competitive market. Many young people choose to live in the city centre terraced houses rather than larger housing estates, says Ben Lanbury-Kelly, so start your search early. It’s worth looking for properties for the next academic year as early as January or February. If you wait until the summer you’ll find far far fewer, often more expensive, options available to you as the demand goes up and supply dwindles.
You need to think about a refundable tenancy deposit (usually up to five weeks’ rent), bills (gas, electricity, water, internet), and potentially council tax (which full-time students are exempt from, but you must register with the council to prove this).
2. “Terraces over Estates” Ben Lanbury-Kelly
Most students go straight for the town centre rather than housing estates, to be near the best pubs, restaurants and travel links – so think about your priority lifestyle needs. Others may think that a property near campus is best, it depends where the campus is, but this often comes with a higher rent.
Things to consider:
- Proximity to Campus: Is it a quick walk or a bus journey? Consider commute costs and time.
- Access to shops, pubs etc: How close are the local shops, pubs, and cafes? Living near these can save you on travel costs and offer more fun generally.
- Safety: Research the area’s crime rates. Your university’s student union or council website can give this information.
- Transport Links: What’s the easiest bus route or local train station? Getting to your seminars and lectures first thing on a Monday morning easily, will be key to enjoying where you live.
3. “Estate Agents and Landlords” – Ben Lanbury-Kelly
Being able to speak effectively with an estate agent can make a huge difference to getting the property that you’re after – make sure you’re prepared, professional and prompt.
- Document ready: Student ID, proof of address, and passport ready. You’ll also most likely need a guarantor, which can be a parent or guardian, who agrees to the landlord to pay your rent if you can’t.
- Be smart: Ask about a property’s history, the landlord’s general responsiveness to repairs, and any potential hidden fees. Under the Tenant Fees Act 2019, many fees are banned, so be vigilant and question any charges for things like reference checks or admin.
- Check Accreditations: Many universities run their own accreditation schemes for landlords, there’s probably a set list of well used properties and landlords. Check your student union website for one. It’s also best to look for landlords and estate agents that are a part of professional bodies like the National Residential Landlords Association (NRLA) or the Association of Residential Letting Agents (ARLA Propertymark).
Renting your first student property is actually a massively fun part of life if done right, or a potential disaster if done badly without proper planning or professionalism, says Ben Lanbury-Kelly estates.
