London attracts a large share of overseas students thanks to its position as the home to some of the best universities in the world. Student renting in London and UK in general is thriving. Students normally search a rental property in London at the start of the university term in September or October.
For a group of students to live together, a licence named House in Multiple Occupation is a must in any leased house. This is compulsory when five or more unrelated individuals share a property. Landlords also ask student tenants to get a guarantor to shoulder the costs for skipped rent or significant damage to the property.
Value for Money
The formalities apart, students are serious about value for money. This is essential to do justice to their tight budgets. They pay the asking rental and a higher deposit and are good tenants. Students make good tenants and they pay advance payment of 6 to 12 months, according to property experts.
Deciding Factors
According to a recent survey, about 60 percent of students prefer an accommodation close to their university and cost is a major determiner in arriving at the final decision on where to rent an accommodation in London.
- Most students feel secure in private, rented accommodation and need better value for money than those living in private or university hostels.
- About 70 percent of students prefer an ‘all-inclusive’ rent to be within their budget
- About 88 per cent people consider a faster Internet connection as an important factor about a property.
- Nearly 90 percent of students search a rental property using a smart phone than a computer.
Local Letting Agents
Students also solicit the services of local letting agents in addition to services offered by university accommodation offices. There are many letting agencies who arrange hassle-free accommodation in different areas of London. You can try Instyle Apartments to find student accommodation in the following locations.
- Docklands
- Beaufort Park
- Imperial Wharf
- Southbank
- Highgate
- Colindale
- Hampstead
- Hyde Park
- Kensington
- Knightsbridge
- Notting Hill Gate
- Paddington
- St John’s Wood
- West End
As revealed in the survey, a majority of students prefer (66 percent) properties managed by landlords and they maintain a good relationship with the owners. Overseas landlords, who usually keep a good estate agent for property management, also have positive feedback to share as far as student tenants are concerned.
