As well all know, finding the right accommodation is not only extremely frustrating but extremely important, and this can be daunting for first time tenants, especially in today’s market.
The current property market is making it increasingly difficult for students to find accommodation with the availability of properties for students decreasing daily.
As a matter of fact, the amount of properties to rent has decreased from 60,000 in 2011 to 35,000 in the last twelve months alone.
To help us learn more, I spoke to Martin Clancy from Daft.ie who said that the current property market is making it exceptionally difficult for students to rent, as the amount of available properties continues to decrease.
"As reported in our 2015 Q1 Rental Report, the stock of rental properties available continues to fall. This would impact on all people looking to rent accommodation, including students.’’
Martin believes that this is simply due to there not being enough homes available to rent throughout the country and advises students to look for accommodation as early as possible.
‘’As with the entire rental market, stock is low and demand is high. The sooner you can begin a search the better chance you have of securing a place that meets your meets.’’
Not only is there a shortage of properties, but due to recent water charges amongst all other taxes, the prices for students are rising. As well as higher taxes, other factors must be considered such as the location and the demand of the properties hence why the prices are driven up.
Martin continues to explain how it’s more difficult now than ever before for students to find accommodation:
‘’The amount of rental stock on the market is not high at the moment so this would make searching for rental accommodation more difficult."
Obviously as a student's money can be extremely tight and yes, this news may have broken your heart just a little, but Martin advises all students to know their rights and to know when to haggle with potential landlords.
‘’Always be vigilant and make sure you visit the property before renting. Supply is lower than demand at the moment, so that is something to remember. We have a handy guide for remaining vigilant on our blog and what to watch out for.’’
With the new college year approaching very quickly Martin advises students to waste no time and get your accommodation sorted as soon as possible,
‘’Begin your search as early as possible. Make sure you’re organised and use the handy Colleges search on Daft.ie to narrow your search area by location, price, bedroom, property type, length of lease and move-in date.’’
When searching for the perfect accommodation it’s also important that you take into consideration the area around you and the money you’re willing to pay.
‘’Other things to consider are cycle and walking distances, bus and rail services to your college campus, supermarkets, distance to the city/town centre as well as factoring in how close you are to other students as well as your friends. Be realistic about what you can afford each month. Rent is unlikely to be your only expense. We recently did a blog post on this subject: Student Accommodation – Guide to Renting,’’ explains Martin.
I’m sure when it comes to first time renters we could all write a three hundred page essay on the do’s and dont’s, but for Martin it’s very easy to pick out the three most important things for all first time renters to know, and that is: Location, affordability and when the time has come to moving back out of the property.
‘’Location – how close are they to the campus and how easy is it to get to the campus via public transport/walking/cycling etc.
Affordability – budget correctly, don’t over extend and live within your means.
Moving Out – make sure you return the property in the condition you received it to avoid any unexpected charges.’’
To find out more about renting and first time renters log onto www.daft.ie or visit the Union of Students in Ireland website which also have a good online information centre for students.
Happy house hunting!