One of the most significant expenses for students is accommodation. With rising rental prices, it's essential to explore different options to ensure you make the most of your budget.
One of the most significant expenses for students is accommodation. With rising rental prices, it's essential to explore different options to ensure you make the most of your budget. You can get help with budgeting by contacting RHUL Financial Wellbeing team. They can give you information about grants and loans available at the University as well as helping you to plan your budget.
How much should rent cost?
Rent prices at the moment can be unpredictable due to the cost-of-living crisis. It can also vary depending on the size of the property and how many people you are sharing it with. Here is a helpful rent calculator tool that can help you work out how much rent you can afford.
The Tenant Fees Bill passed on 1 June 2019 stops landlords and letting agents from charging most fees that were considered standard fees before. See the government guidance for tenants here.
How can I find cheaper rent?
Be flexible about:
- Location. E.g. Englefield Green is usually cheaper than Egham and definitely cheaper than London.
- Who you live with. If you’re willing to split up your group, then you’ll have more options. There’s always lots of spare rooms advertised on RHSUHouseMating throughout the academic year and holidays.
- Timing: The longer you wait, the more deals you’ll find as landlords scramble to fill their rooms before term starts. However, waiting longer will mean less choice in property-sizes.
Keep in mind, rent is just the base cost – there’s more you’ll need to think about beyond just what’s on your tenancy agreement.
And everything else?
Aside from rent, you also have to consider the bills. The main bills you’ll need to cover are gas, electricity, water and internet.
Sometimes landlords will include the cost of bills within your rent, providing you with an energy allowance that, if you don’t go over, will cover your bills at no extra cost.
You should never assume that your property will have its bills covered. Unless explicitly told by the landlord or letting agent, you should be prepared to pay your bills.
All full-time students are exempt from paying council tax. However, if you are a final-year student you become liable for council tax the day you stop being a student (this is usually the last day of the summer term). You could be eligible for a council tax reduction if you are on low income or fit other eligibility criteria as listed on the government website.
If your place isn’t within walking distance to campus, you’ll also need to budget for travel. To save on your transport we suggest getting a railcard. You can get up to a third off on eligible fares. Costs start from £30 a year, or you can get them for free with certain student bank accounts like Santander’s 123 Student Current Account. Don’t forget to also show your Student ID Card on the White Bus (441 & 500) to get a 33% discount on your trip when travelling in the area.
What other costs should I expect to pay?
- Security deposit which will be a maximum of 5 weeks’ rent.
- First month’s rent in advance with UK guarantor (3-6 months’ rent in advance for students without UK guarantors)
- You could also be asked for a holding fee (maximum 1 week’s rent; refundable unless you cancel) to stop advertising the property. We strongly recommend against paying a holding fee before using our free contract-checking service – you simply have to email it to advice@su.rhul.ac.uk with the subject ‘contract check request’
What if I don't find a guarantor?
A guarantor is someone who agrees to pay your rent if you do not pay it. They sign an agreement which has their responsibilities and when they have to pay. Guarantors can be people like your relatives or close friends, but they do not have to be.
If you don’t have a guarantor, please look at the following companies and make an enquiry/application:
Housing Hand
Rent Guarantor
The above companies will act as your Guarantor if you proceed with them. They do charge a fee for this service.
If you are unable to afford the arrangement fee that these companies require, you are able to apply to the University's Study Support Grant to reimburse these costs to you.
You’ll be required to confirm that you are unable to secure a guarantor for this academic year. You will also need proof of payment for the arrangement fee so that you can be reimbursed for these costs.
You can check your eligibility by contacting Financial Wellbeing - moneymatters@royalholloway.ac.uk.
Understanding the typical costs associated with renting privately can help you make a more informed decision. With the right strategies, you can enjoy a comfortable living environment that supports both your studies and your wellbeing.
Further support
The Advice Centre is a free, independent and confidential service for all students here at Royal Holloway. Our friendly, experienced and professional staff will provide a listening ear and offer general and specialist housing advice. Book an appointment with us via email or join one of our drop-in sessions - you can find this in the Events Calendar under the Advice tab.