You may be required to pay a holding fee to reserve a property or room. The maximum fee that can be charged is the equivalent to one week’s rent. From the time a holding deposit is received by a landlord/agent there is a deadline for finalising and signing the tenancy agreement which is 15 days from the date the holding fee was taken. This date can be shortened or extended but only by agreement in writing with the tenant. Once the tenancy is confirmed the holding fee money should be returned to you unless you have agreed for it to go towards rent.

You will usually lose the holding fee if you decide not to take the accommodation after all – so do not pay the fee unless you are certain you want to take the property.

If you drop out for reasons beyond your control, eg. if the rent is more than originally advertised or the agency or landlord decides your reference is not satisfactory, the holding fee should be refunded. If the agent or landlord pulls out then the fee should be refunded in full.

All fees and charges should be made clear to you before you sign a tenancy agreement. If you are not given full details or charges are unreasonably high, you can challenge this. For advice, speak to us.

When you sign a tenancy agreement you will normally pay a security or damage deposit. This is charged in case of damage to the property or non-payment of rent. The amount you will pay is usually equal to one month’s rent, but it can be 6 weeks rent or more.

Your deposit must be protected in a government-approved scheme and details of this scheme sent to you. 

When you leave your property, your deposit will be returned to you; as long as you are not in breach of your tenancy agreement. Find our more by downloading our deposits factsheet (PDF, 363).

Rents can vary around these figures and within each area in Bristol - it's not possible to say that one area of the city is significantly cheaper than others, but as a rule the further out you go, the more you can get for your money, although this isn't always the case. Some rents are higher because a property is fully-furnished or it includes bills. It is a good idea to view a number of properties and compare what is included in the rent.

How often will I pay rent?

You can expect to pay rent monthly in advance or quarterly (three months in advance). Your agency or landlord should tell you whether rent is due monthly or quarterly, and it should be written in your tenancy. If not, ask them to clarify in writing.

To decide which would suit you best, think about when and how you recieve your monthly income.

Always let your landlord know if you will be late in paying rent. They have their own finances to manage too. 

You should always ask the agency or landlord if any bills are included in your rent. If not, the average bills you should expect to pay are (per person, based on 4 people sharing):

• Electricity and gas - £38 per month
• Water rates - £12 per month
• Insurance - £10 per month
• Broadband - £10 per month
• TV licence - £5 per month
• TOTAL: £75

Remember, the amount you pay for each bill will vary according to the type of property and your lifestyle. Your electricity bills will be higher if you use a lot of appliances or you have electric heating. Large Victorian properties with high ceilings and large bay windows are common in Bristol. Unfortunately they can be poorly insulated and result in expensive heating bills. 

Hints and tips:

• Ask the current tenants for a copy of their bills, especially over winter, so that you are prepared for any increases in costs.
• Set up a joint house account to manage your bills and make monthly payments into it.
• It is often cheaper to pay gas and electricity by direct debit.
• If everyone has their name on at least one bill, you will all have an interest in making sure they are paid.
• When you receive bills check if they are based on estimated readings, usually indicated by an E next to the reading. If so, give your supplier an accurate reading.
• When your tenancy ends you will have to pay your final bill based on an accurate reading. Don't rely on estimates over the year, even if they appear cheaper.
• Full-time students do not have to pay council tax but to qualify for exemption, you must notify your local council at the start of the tenancy. Students resident in Bristol can fill out an online form on the council website bristol.gov.uk.
• Commercial providers usually have all bills included 

If you are in financial difficulties or would like budgeting advice, talk to the Student Funding Office.

You can also drop-in to speak to a funding advisor. The advisor can make sure that you’re getting the correct government funding, or give you details of funds available to help students in immediate financial difficulties. 

The Fees and Funding website provides tips on how to save money and advice on managing your finances.