As a record number of young people prepare to start university, What Students Seek1 an annual report compiled by Glide Utilities, finds that students in the UK need to set aside an average of £84 per week for bills-inclusive rent.
The option for bills-inclusive has been a growing trend since 2005 when data for student accommodation preferences was first made available. Now more than half2 (51.5%) of student private rentals offer the inclusion of household utilities. On average students will pay a premium of £3 per week to have the likes of electricity, gas and broadband included in their rent.
The majority of students, (61%) now want bills included, the benefit being ease, convenience and avoiding arguments over unpaid bills - 12% of students have been left to pay someone else’s bill. For those that don’t have bills inclusive, Glide, the utilities and service provider for shared households, has introduced a payment plan whereby students decide how much they want to pay. Surprisingly, since giving students the power to pay what they want, Glide has found that the majority (65%) opt to pay 5% or 10% over the recommended amount set, with a further 25% opting to pay 15% or 20% over. The idea of cashback at the end of the year is clearly more desirable to university students than an unwelcomed bill at the end of the year for over-usage.
As well as students wanting bills included in their rents, the 2015 What Students Seek report revealed how student accommodation expectations are growing. One third now demand ensuite bathroom facilities, while 61% are on the look-out for double beds.
Fast Internet access is the top demand of students: 83% highlight this as something they look for, while good storage, 72%, is also popular. Over half (55%) say it’s very important to be close to their university and 31% highlight the need for good transport links. Only 13% are looking to be in a well-populated student area; while just 9% called out ‘good access to bar and clubs’ as a very important factor.
James Villarreal, CEO at Glide Utilities said of the findings; “The stereotype of students staying in cheap digs is no longer a reality – you’re more likely to see students today in more luxurious student developments. The standard of student living is changing, and undergraduates are looking for more, and are willing to pay for it.”
