The Ultimate Guide To Student Tenancy Documents
For the vast majority of students, moving to university is the first time that they’ll have to go through the process of renting.
This can be an overwhelming process, with lots of jargon and long, confusing documents that need to be handled in a timely manner. This can especially be hard when you’re also relying on other people to complete these on time.
We’ve compiled a handy guide on student tenancy documents to give you peace of mind, and since Seekers are experts in student property lettings, we’re also happy to give you a helping hand through the different types of documents you can expect to come across during the rental process.
Can I trust Seekers as an agent?
For over 20 years, Seekers has been at the forefront of student lettings in Newcastle. Our vast wealth of knowledge means that we’re the go-to in the sector, and the service we offer when it comes to rental properties in Newcastle is unmatched.
We are also members of:
The Association of Residential Letting Agents (ARLA)
The Property Ombudsman
The Tenancy Deposit Scheme (TDS)
You can work with us with confidence, knowing that we follow the highest standards in the industry.
Security Deposits
One of the first things that you’ll come across when renting a property is the security deposit.
What is a security deposit and how much is it?
A security deposit is the money paid before the tenancy starts and is required in the case of damages or rent arrears. At Seekers, the security deposit we require is equal to one month’s rent.
How do I know that my deposit is safe?
To make sure that your deposit is kept safe, it is registered with a government-backed tenancy deposit scheme (TDS). Your deposit will remain there for the duration of your tenancy, at which point it will be repaid to the tenant in full, provided there is no money owed by the tenant or damages caused to the property.
In the event that deductions have been made, Seekers will provide the tenant with any necessary supporting paperwork and invoices to minimise the likelihood of a deposit dispute.
Guarantors
What is a Guarantor?
When you’ve sorted out your deposit, the next step is likely figuring out who will be your guarantor.
Most landlords and agents require a guarantor when you’re looking for student accommodation. Essentially, a guarantor agrees to cover your rent payments if you aren’t able to pay them. Typically, this is done by the student’s parents or a family member.
Your guarantor will sign a legally binding document, allowing the landlord or agent to hold them accountable for any missed rent payments. Therefore, it is crucial for both you and your guarantor to carefully read the document before signing.
All students looking to rent a property with Seekers require a guarantor. If you are unable to get a guarantor for whatever reason, or you don’t want a guarantor, then you’ll likely have to pay the full amount of rent in advance.
I’m an international student and don’t have a guarantor. What should I do?
Studying abroad is an exciting yet sometimes daunting adventure. Finding an international student guarantor can be challenging, as most landlords require the guarantor to be UK-based. However, you don't necessarily have to rely on a parent or guardian.
You’ll need to find a UK resident who meets the requirements to be a guarantor and is willing to cover your financial commitments when renting a student house in Newcastle.
If you're having difficulty, there are a few options. Reliable agencies can act as an international student guarantor. Alternatively, you could pay your rent upfront for the term or seek student accommodation that doesn’t require a guarantor.
If you’d like some more guidance on this, please get in touch with us.
Tenancy Agreements and Industry Terms
All of our student properties in Newcastle are let with a tenancy agreement, which is a legally binding contract between the tenant and the landlord.
It is probably the longest document that you will come across in your renting journey as it specifies the terms and conditions of the tenancy, highlighting rent obligations and occupation of the property.
Every student who decides to rent with Seekers will be provided a tenancy agreement before they sign on their student home in Newcastle. It is imperative that the tenancy agreement is read in full before signing. Any questions surrounding the agreement should be directed to your property coordinator.
Within your tenancy agreement, it’s likely that you will also find a number of industry terms that you may be unfamiliar with, including but not limited to:
House in Multiple Occupation
Often abbreviated as HMO, a House in Multiple Occupation is a term that refers to a property with 5 or more bedrooms, spanning over 3 floors or more.
HMOs are popular with students, and there are plenty of HMOs in Newcastle, thanks to the fact that most students choose to live with their friends during their time at university.
At Seekers, all of our HMOs are fully licensed complying with regulations, and have been inspected by Public Health Officials.
Joint and Several Liability
Typically, when a number of tenants choose to move into a student property together, they will all be required to sign one tenancy agreement. This is common practice in the sector and it essentially means that it’s a joint contract.
This means that every single tenant that is named in the signed agreement is liable for the rent, both jointly and individually. If one tenant is defaulting on their rent payments, then the other tenants will all be held accountable. That’s why it's so important to trust who you choose to live with, and make sure that they have plans in place in the event that they can’t pay their rent.
Inventory
The inventory will also be mentioned in the tenancy agreement, however it is usually a separate document that is either emailed to the lead tenant, or is given to the person who collects their keys first.
The role of the inventory is to protect both the tenants and the landlord as they lay out everything that’s in the property, and ensure that tenants don’t get charged for damages that they didn’t cause, and to cover landlords if anything goes missing or breaks.
Tenants should take the time to check the inventory and make sure that everything is as it says it is in the document.
At the end of the tenancy, the inventory is used to check that everything has been left as it was when the tenants moved in.
Schedule a property viewing with Seekers
Now that you’re clued up on the documents you’ll come across in the renting process, why not get the ball running and schedule a property viewing with Seekers?
We have a range of student properties available, from student homes in Jesmond and houses in Heaton, to modern student flats in Newcastle city centre.
Get in contact with us today for more information and guidance on student lettings in Newcastle.
