Advertising
Advertising

Advice for Students: How to Get Your Full Tenancy Deposit Back

Advice for Students: How to Get Your Full Tenancy Deposit Back

The last thing you want after renting a property is to lose your deposit and not understand why. It’s well known that students can often be susceptible to losing their deposits and landlords often have the misconception that all students have messy houses from endless parties and gatherings. This isn’t always true. Hopefully this  guide will help you tackle any problems with getting back your deposit.

Ensure your deposit is protected

Before you move in, ensure your landlord has protected your deposit using a government-backed scheme. You’d be surprised by the amount of landlord scams that are are regularly pulled on unsuspecting 20-something year-old’s, so make sure you check online to see if your deposit is protected. If your landlord hasn’t protected it, you can go to the small claims court to reclaim it PLUS you can receive up to three times the original value as a penalty for the landlord (then you can finally start paying off your student loan).

Advertising

Pick the right accommodation

There’s that saying: “the prevention is better than the cure”; one of the best ways to ensure you don’t get burnt when leaving a rented property is choosing the right one to begin with. Make sure you do your research before you sign anything; do some stealth Googling about the company, make sure they’re reputable; check with past tenants about what they’re like to rent with – no one will be more honest than people that once lived in a property and rented through the company you are considering renting through.

Advertising

What is a tenancy agreement?

A tenancy agreement is a contract between you and your landlord. It specifies the legal terms and conditions for your tenancy, and states the certain rights for you and the landlord; letting you live in the property as long as you pay the rent and follow the rules. The tenancy can be fixed-term or periodic. For students, fixed-term is the most common, but periodic is also available which runs on a week-by-week or month-by-month basis. Ensure you follow the set rules of the tenancy agreement to receive your deposit back.

Advertising

Tips on getting your deposit back

  • Clean! I hate to sound patronizing, but it’s honestly the most simple solution. Pick up your washing up gloves and tackle the moldy takeaway remnants and sticky red wine spillages. Aim to make it look identical to how it looked when you moved in.
  • Your Camera is Your Weapon. Take photos when you leave the house to ensure you’ve got visual evidence just in case you need to dispute charges.
  • Invest in a Tester Pot of Paint. It’s hard to resist putting up pictures and posters to make things more homely. But when it comes to moving out, the blu tack or sellotape marks that remain can end up costing you a lot. If you buy a small pot of paint that matches your wall colour, you can take it into your own hands by splashing on a few neat blobs of paint to cover the damage.
  • Check the Contract. This may sound very boring, but it could end up saving you a good sum of money. Ensure that you’ve read everything so they can’t charge you for something you’ve simply forgotten to do.
  • Grab a Friend. Drag someone round to help you spot any missed areas of dirt or mess. As you’ve lived there for over a year it can be easy to get used to the mold on the bathroom wall or constant crumbs on the kitchen floor, but these probably weren’t here when you moved in. A fresh pair of eyes can help you spot these trouble areas.

Inspection time—what is the landlord on the lookout for?

Sometimes you have to pity your landlord; you’re probably one of the good tenants – having your deposit unjustly withheld. However sometimes tenants can leave houses in truly disgraceful conditions, and landlords leaving homes in disrepair because they can’t afford to fix them, is actually one of the leading causes of empty homes in Britain. You don’t want to be a part of that problem.

Focus on cleaning the fixtures: bathroom cabinets, kitchen cupboards and units, built in desks, etc. These are harder for landlords to replace so it is important to ensure they’re in good condition. Whether it’s carpet or wood floors, make sure there are no obvious stains, dents, scratches, rips or burns on the floor. If there are marks on the floor, often these can be easily covered up with a cheap stain remover like Vanish. As previously mentioned, add a dash of paint over any markings on the wall to ensure you don’t get charged for a whole wall of painting by the landlord.

Featured photo credit: infoetudes via infoetudes.com

Advertising

More by this author

Jess Melia

Journalism

How To Create An Alternative And Quirky Wedding Handy Last Minute Gift Guides 3 Ways to Feel Good About Yourself in 2017 Luxury travel Top 5 Luxury Travel Destinations Top Architectural Tips You Need For Planning Your New Home

Trending in Budget Activity

1 6 Easy Ways to Treat Yourself 2 7 Websites to Sell Used Stuff Profitably 3 Seven Tips to Save Money While Renovating Your Home 4 4 Ways to Make Every Penny Stretch in 2017 5 Getting Out of Debt in 4 Simple Steps

Read Next

Advertising
Advertising
Advertising

Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

Advertising

2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

Advertising

If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

Advertising

4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

Advertising

5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

More About Thinking Smart

Featured photo credit: Austin Distel via unsplash.com

Read Next