Don’t Lose your Deposit

Photo credit: Roger4336

If you want to move out of student accommodation and into your own place then you’re going to have to stump up a hefty deposit for the privilege. This will usually be the equivalent of six weeks’ rent, plus one month’s rent paid in advance. Although this might sound like a huge sum of money, just think about it from the landlord’s perspective: students don’t exactly have the best reputation for being house-proud. Student housing usually reflects this widely held perception, in that few residences are likely to grace the pages of interiors supplements. However, it’s still a risk for a landlord to let out their property to a group of people with a lot of time on their hands and no greater responsibility than attempting to make it into college a couple of times a week.

No one can afford to lose a deposit, and students have traditionally been sitting ducks for irate landlords looking to make a few extra bucks by holding back their cash at the end of the tenancy. Regulations are now more stringent, with Tenancy Deposit Protection Schemes making it far more difficult for landlords to simply tuck your deposit into their back pocket. But you do still have a duty to respect the property, look after it and leave it (more or less) in the same state you found it when you moved in. Here are a few tips to help ensure you get your deposit back when it’s time to move on:

• Always check and sign an inventory when you move in. This saves arguments about missing crockery, or broken furniture and fixtures and fittings, at the end of the tenancy.

• Check the property thoroughly when you move in – look out for things like carpet stains, marks on walls, broken furniture or other problems and make your landlord aware of these – mark them up on the inventory to make sure they’re noted.

• Give the correct amount of notice when you intend to move out and leave the property clean, taking all your personal belongings, rubbish etc with you.

• Update all the utilities companies on moving-out day and supply final readings, to ensure that you’ve left all the affairs of the property that you’re responsible for, finalised.

If you treat the property and your landlord with respect, it’s only right to assume that you’ll be treated the same way and there shouldn’t be any issue with your deposit being returned in full when you move out.

Written by Justin Burns MRICS of Peter Barry Letting Agents. Peter Barry always have properties available to let in and around Southgate, London N14.

Tags: student accommodation

Category: Student News