How Much Does Student Accommodation Cost?

29.04.22

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Before you can calculate the true cost of your student property, you need to take into consideration all the bills which come with renting a property. Ensure you can afford all the associated costs by consulting our guide below.

We’re based in Nottingham, so we’ll use Nottingham as an example. Typical rents exclusive of bills in the Nottingham area cost between £65-£105 per week, but that is just a starting point.

Many landlords will expect you to pay a deposit upfront, before they give you access to the property. This is a standard procedure and will normally be up to the equivalent of a month’s rent. This money will be returned at the end of the rental period, as long as there are no arrears or damages to the property.

Unfortunately your student property does come with the normal household bills including heating, water, electricity, internet…yes the list can seem endless. Fully inclusive of bills are now becoming the norm which may help you to budget more easily.

If not, ask your landlord about previous costs for previous tenants as all properties will be different – depending on how many people live there, whether you’re likely to be in all day or over holidays and the efficiency of the house and electronics. You may also want to consider setting up a bank account with the other tenants for direct debits.

If all tenants living in the house are full time students then there will be no council tax to pay. However, it is important to note that part time students are liable to pay some council tax. If you are unsure of the amount to be paid, contact the local council for a payment schedule which will enable you to budget properly.

Your student property is not exempt from TV Licensing laws and depending on your tenancy agreement, you may need to hold a TV Licence as an individual. If you’re not sure, it’s best to ask your landlord or lettings agent.