Landlords and their wily ways

I do not need to tell the fine, adroit individuals who read these pages that the single-highest expense whilst at university is accommodation. Unless you are lucky enough to possess wonderfully benevolent parents it is likely that the cost of this inordinately expensive yet unavoidable enterprise will fall into your hands.

In this little feature I want to offer some help and guidance on the process of finding accommodation: what to expect from letting agents; and how you can extract best value from the whole exercise. It is an exciting experience, but given how expensive the whole shebang is, I would urge a little restraint, consideration, and caution. Just like buying a car, the overall cost is not limited to the car itself, the additional expenses soon begin to add up and suddenly the whole package looks markedly less value for money.

If this is the first time you have rented from private landlords (i.e. through a letting agency) then you may be unfamiliar with some of their practices. Always ask the letting agents what their practice is for the following issues:

•  Administration fees (aka Grand Larceny) – Quite why you should pay up to £100 each for the privilege of some irksome little money-grabber presenting you with a couple of forms remains a mystery to me. Sadly, this is now common practice. However, find out exactly how much of a fee as a proportion of the monthly rent they will take and shop around. It can always save a few quid.

•  Damage Deposit – This is exactly what it says although your view of damage and that of the letting agent who checks at the end of the year can differ wildly. I have heard all sorts of horror stories about students being unable to recoup this charge so undertake the following when you move in: Meticulously check all furniture, fittings, walls, doors, carpets – in short everything that is inside your property – for damage, marks, scratching, burns etc. In fact, take pictures of everything with a film camera (digital pictures are not acceptable as evidence as they can be manipulated). Your landlord will do the same to you so don't feel paranoid.

•  Rent schedule – Do not assume that the rent on your property will be taken over 12 months. For starters they will take 1 month's rent before you even move into the place, and the subsequent schedule can be far from straight forward. For example they may take the full cost of a years rent, say £3000, in 10 larger monthly instalments giving you 2 months free at the end. If you are already on a shoe-string, the elevated cost of the first 10 months can seriously damage your financial budget. Some agencies may be happy to negotiate on this, at worst they can say no.

•  Finally, it is always worth checking your university students union or accommodation office for a list of reputable student letting agencies. They will also give you a list (often extensive) of agencies or landlords that, through malpractice or maltreatment of students, have been blacklisted.