How to Secure Affordable Student Housing in a Competitive Market

The search for inexpensive student accommodation can be challenging, especially in places where the need for housing greatly exceeds the available space. Increasing rents and fewer houses available for a large number of students are common situations that arise as a new academic year approaches. But, it is possible, and in fact, most of the time, it can be inexpensive. It only requires a well-thought-out application strategy. The following paragraphs provide a roadmap for effective navigation of the housing market.

Understand the Market

Research Your Area

Before embarking on the journey to look for student accommodation in East London, it is advised to first get an insight of the area’s rental and real estate market. Platforms like Zillow, Apartments.com or local city boards will help narrow your focus by providing tentative rents, number of houses available and even the types of people living in the area. Market behavior is also important: do prices seem to be on the rise? Are there neighborhoods where some prices are lower? It is essential so as to avoid being blindsided later on when you are actually making investments.

Timing Is Of The Essence

There is a possibility that timing your search can dramatically qualify you to find lower-cost housing. A reasonable number of students search for a house during summertime which pushes demand leading to hiked up costs. In order to counter this, you should look for housing even before the summer begins. Doing this allows you to have access to more opportunities and may give you leverage when bargaining with zealous landlords to fill out their houses.

Budget Creation

Make a Whole Consumed Enough Budget Before You Determine Housing

Prior to commencing the housing quest, it’s wise to have set a specific limit. Find out how much rent you can afford to spend every month based on the income or student loans and any other expenses that you have. A good rule of thumb is to keep your rent around 30% of your income in a particular month. Allowing students to make these assumptions seems impractical for those going to school as they tend to have a more stringent budget.

Add Other Housing Related Costs Towards The Budget As Well

When managing a budget, do not forget to include other housing related expenditures that are expected such as electricity, water or the internet, food, and transport. Finding property where the rent contains some utilities may be worth it. Find out how many of them to expect, and at what point in your search do they become available.

Resources and Networks

Use Campus Services

Most universities provide resources aimed at helping students secure accommodation. This may include housing offices that have lists of available accommodations for rent, housing search and sharing services or even seminars on how to go about getting accommodations. It is recommended to contact these offices as soon as one starts looking for housing and utilize the materials provided by these offices.

Make Use of Social Networks

Social networks and student communities are particularly useful when looking for accommodation. Search for university groups on Facebook and other social networks where students have posted about places they want to rent out or are willing to sub-let. Being part of these sites also enables students to find roommates and share housing costs.

Different Type of Accommodation

Off Campus Accomadation

Off campus housing should be the last resort for students who value their accommodation privacy and space. Consider private studios, shared rooms, or renting a place in another house that is off campus. These alternatives most times are more practical and affordable than living in dormitory types of structures.

Thought about the option of Cooperative housing?

This is accommodation where students cohabitate in blocks of apartments with each apartment containing several rooms that all share a kitchen and living area. Also, co-ops are quite appealing to students since they tend to be a lot less expensive than living alone and pay rent within a co-op structure.

Short Term Rentals

If you have failed to get long-term accommodation, you should think of using sites like Airbnb or Vrbo for short-term rentals. Even though they may not always be the cheapest, these may buy you time while you look for a more suitable option.

Be Ready to Make a Move

You Should Have Your Documents ready

In a competitive business, being ready is half the battle. Make sure your papers are available for submission, including income evidence, character and rental references, and your credit report (if needed). You may be able to apply more quickly than other potential tenants if you have these at your fingertips.

Be Open Minded

Being open-minded can help you find cheap accommodation in London England. Try to relax your search parameters, for example by being willing to look in different areas or types of housing. While you may have your ideal area for locating the house, you will be surprised to know that such options rarely exist and searching wider does help.

Negotiate and Communicate

Do not Hesitate to Negotiate

When you fall in love with a place, it is ok to try and negotiate the rent. Some might be more cutthroat about the price, but if you have good references or can sign a longer agreement, they might be worth it.

Improve Your Relationship with Landlords>

This is an obvious truth, but establishing a solid relationship with your would-be landlord is a helpful tip. Maintain good lines of communication and respect your potential landlord as an individual. Naturally, a landlord who feels at ease with you may be much more flexible regarding pricing and the conditions of the lease.

Conclusion

In such a contested market, finding student accommodation at a reasonable price requires thorough groundwork, effort and planning. If you analyze a market, draft an estimated budget, tap on available resources, and be open-minded, the search for housing might not be disastrous as one would expect. After all, the goal is not simply to secure a roof over one’s head, but a place that fosters one’s academic growth. Given the appropriate methods, you’ll be able to search for a place that will fit your budget and you as well.