A new academic year is almost upon us, and many post-secondary students are searching for affordable apartments for their next term. We’ve rounded up our top tips on apartment hunting for students to help you find your next apartment that fits your budget and lifestyle.
Start Your Apartment Search Early
Start your apartment search early to ensure that you have plenty of time to view a variety of apartments and consider your options carefully. Failing to plan ahead could force you into an apartment that doesn’t meet your needs.
Begin searching for your next apartment in May or June for the upcoming school year, or during September or October for the following school year. Because new apartments become available all the time, check websites regularly for new listings.
Set a Realistic Budget
Budget is often the most important consideration for students. Plan ahead by listing your expected sources of income, including financial aid, scholarships, and part-time work income. Based on your income, create a realistic budget for your school year, including rent, groceries, utilities, transportation, and other expenses.
If you find that your budget doesn’t allow for renting an apartment alone, consider living with roommates to share the financial load.
Consider Having Roommates
Roommates can save you thousands of dollars. However, sharing a living space with someone can also bring challenges like conflicting ideas about cleanliness and late rent payments.
Give yourself plenty of time to find someone who is a good fit for your lifestyle. Create house rules that everyone agrees to ahead of time, so everyone is on the same page. Make a list of everything you’ll be bringing to the apartment, especially any shared items, so everyone knows what belongs to who.
Use Local Tools & University Resources to Find Apartments
While individual property rental websites are a great way to apartment hunt, there are other tools and resources that can help you on your search, including university housing services and local resources like the London Free Press or campus newspapers.
Western students can access Off-Campus Housing Services to aid in their search, while Fanshawe students can find housing through Fanshawe’s partnership with Places4Students.com.
Choose an Apartment Close to Campus
Consider the neighbourhood of your prospective apartment and its proximity to campus, as well as to healthcare facilities, grocery stores, cafés, libraries, gyms, and any other important amenities. Above all, you want to choose a neighbourhood where you feel safe and have easy access to public transport.
You want to ensure that there is readily accessible public transit in the area. Reliable transit options can provide easy access to school, amenities, and other parts of the city, saving you time and reducing stress while offering a flexible and cost-effective alternative to driving.
Evaluate the Apartment’s Features & Amenities
Evaluate the features and amenities of your prospective apartment with your budget in mind. Amenities like parking, a fitness centre, and pool might be nice to have, but they aren’t necessarily must-haves. Make a list of your must-haves vs. nice-to-haves to ensure your apartment meets your needs without breaking the bank.
Ensure You Have the Required Documentation
Securing an apartment involves more than just finding a place you like; you’ll need to provide several pieces of documentation to support your application including:
- Proof of Identity: You’ll need a government-issued ID, such as a driver’s license or passport. This verifies your identity and helps the landlord or property manager ensure you’re who you say you are.
- Proof of Income: Landlords need to ensure you can meet the rent payments. This could include recent pay stubs, a letter of employment, or bank statements. If you’re a student with a part-time job or financial support from family, documentation of these sources can be useful.
- Proof of Enrollment: Providing proof of enrollment can reassure landlords that you have a steady source of income, such as student loans or bursaries.
- Good Credit: A good credit score helps landlords understand your financial responsibility. If you don’t have a strong credit history or sufficient income, you might need to provide co-signer information to guarantee the lease.
- Rental History: A record of your previous addresses, including contact information for past landlords, is important. This shows your rental history and helps landlords assess your reliability as a tenant.
- References: Personal or professional references can vouch for your character and responsibility. These could include previous landlords, employers, or professors.
For international students, the documentation requirements can differ since you might not have an established credit history in Canada. For more information on this, read our residential frequently asked questions.
Understand the Lease Agreement
Before you sign anything, you should understand the terms of your lease agreement and know your rights as a tenant. If you need help, consult with a lawyer, realtor, or your university housing department.
Be sure to ask questions like when rent is due, whether utilities are included, and how to make maintenance requests. Any reputable rental agent will be happy to clarify the details.
Find a Student Apartment with Summit Properties
Find the perfect student apartment with Summit Properties! With easy access to public transit, excellent amenities, and convenient locations, our properties are a favourite amongst London’s post-secondary students. Contact us today to schedule a viewing!