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Student Flats in Edinburgh have to be amongst the best in the country. Even as an ex-Bristol student, where life is far from harsh, I have vivid memories of staying with friends in huge flats in Edinburgh's New Town.
Whilst I don't classify myself as an old git, that was some 10 years ago and a booming property market has meant that New Town flats are now beyond the means of almost any student who is unable to persuade their long suffering parents that £90 per person per week is the going rate in Edinburgh. On the other hand there is still a mass of excellent student property in the Marchmont and Bruntsfield areas, to name only two areas, which will make most UK students extremely jealous. (details of more good areas available here)
So that's the good news. The bad news is that competition for properties is high. Almost every letting agent I speak to in Edinburgh can let their student properties without any great problem.
The student house hunting rush has two peaks, the May through to early July rush and then the September rush. Whilst it may be tempting to look outside this period, there are usually very few properties available. This is because properties are typically vacated at the end of June or September to coincide with the beginning and end of the summer holiday. The existing tenants only have to give one or maximum two months notice so the agents do not know what will be available before the end of April at the earliest. (Having said that, we have seen signs of agents getting organised earlier now)
It is also worth noting that if a property is vacant at the moment, the agent or landlord will not be prepared to wait more than a month or two at the outside for you to move in. Essentially, you should expect to have to offer to move in the day after the previous tenants move out. If you are concerned about having to pay rent over the summer holidays, then you have two options. Either take the gamble and start looking in late August (not actually as stupid as it might sound) or alternatively take the property over the summer and try to broker a deal with the agent who may be able to let it out over the festival. (If you are thinking of taking a flat and then letting it out yourself, bear in mind that you will almost definitely be in breach of your tenancy agreement – this is also likely to apply if you look to rent out a room).
So what can you do to ensure that you find one of these great flats? The simple answer is to work at it. The most important thing however, is to be in a position to commit to a property as soon as you see it. It is not uncommon for an individual to view a flat that is ideal but to lose the property to somebody else because it took 24 hours to get confirmation from the other flat mates.
The ideal situation is for you and all of your potential flat mates to go to a viewing with your cheque books and having checked with your parents that they are prepared to sign a parental guarantee (not always required but you never know). If all of you can't go ensure that those that do go are able to pay for two and half times the monthly rent for the flat (which will cover your deposit, any agency fees and your first month's rent). Bank references may also be required so if one of your group is going to be beyond the reach of communications for more than a few days, make sure that they have given you their bank details and written permission for any letting agent/landlord to obtain a reference.
Is it possible to beat the house hunting rush? Yes, sometimes and I offer these two different approaches that may work for you. The best method is if you have friends who will be moving out of a flat you like. Get your friends to contact the letting agent/landlord to ask if you could take on the flat when they move out. Most agents will be interested in speaking to you if you are prepared to put a deposit down there and then.
The second approach is to start looking in May before exams finish (when everybody else will start looking). Whilst you will only have limited time during this period, you can still get quite a long way by just being clever. Firstly keep an eye on property listings. However not all properties will be advertised so you will want to approach all the letting agents.
If you get to June and need to get a place sorted before the end of term be prepared to work for it. Agents will be very busy so be prepared to walk into their offices and be flexible on viewing times. Also if you see a property being advertised, make sure you view it that day. It may be hard work, but once you have been successful and you ever need to remind yourself that it was worth the effort, just invite your mates up from Bristol for the weekend!
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