Your first home away from home: rent, deposits, bills and sharing

For most students, housing is the biggest single living cost. It is also where some of the most avoidable money problems happen: a lost deposit, a bill nobody planned for, an argument over who owes what. A few careful steps at each stage protect both your money and your friendships.

• Know your options. University accommodation, a room in a shared house or flat, a homestay with a family, or living with relatives all have different costs and rules.
• Find out what the rent includes. Some rents include bills such as electricity, water and internet; others do not. "Bills included" can be easier to budget for, even if the rent looks higher.
• See the place, or verify it. If you are abroad, ask for a live video tour and check that the person you are dealing with really has the right to rent it. Never pay a deposit for a room you have not verified. Our guide to avoiding scams explains the warning signs.
• Work out the full monthly cost: rent, plus any bills, plus travel to your university.

A tenancy agreement (also called a lease or rental contract) sets out your rights and responsibilities. Before you sign, check:

• How much the rent is, when it is due and how you pay it.
• How long the agreement lasts and how much notice you must give to leave.
• Whether you are renting a room on your own or sharing responsibility with housemates for the whole property. If the whole group signs one agreement, you may all be responsible if one person stops paying.
• Who is responsible for repairs.
• What the deposit is, and how it will be protected.

If anything is unclear, ask before you sign, and keep a copy.

A deposit is money you pay at the start as security. It should be returned at the end, minus any fair deductions for damage or unpaid rent. Landlords also often ask for the first month's rent in advance, so you may need two payments before you move in.

In some countries the law protects deposits. For example, in England a landlord must protect a deposit in a government-approved scheme within 30 days of receiving it, and give you written information about the scheme. Rules differ widely between countries, so check the official guidance where you will live.

Wherever you rent, always get a written receipt for any money you pay.

• Make an inventory. List the furniture and items provided, and note their condition.
• Take dated photos and videos of every room, including marks, damage and appliances.
• Send them to the landlord by email or message, so there is a record they received.
• Take meter readings for electricity, gas and water, with photos.

If bills are not included, list every one: electricity, gas or heating, water, internet, and any local charges. Decide whose name each account will be in. The person named is usually responsible for paying it, so agree how everyone will pay them back, and when.

Most housemates split bills equally. Some adjust for room size or for someone who is away for long periods. Whatever you choose, agree it at the start and write it down.

Illustrative figures and imaginary housemates.

A short house agreement prevents most arguments. Cover cleaning, shared food and supplies, guests, quiet hours and how you will raise problems.

• Give notice in writing, as your agreement requires.
• Clean thoroughly and repair any damage you caused.
• Take final photos and meter readings.
• Return all keys and ask in writing when your deposit will be returned.

• I have seen or verified the property and the landlord.
• I know exactly what the rent includes.
• I have read the agreement and kept a copy.
• I know how my deposit is protected, and I have a receipt.
• I have an inventory with dated photos.
• I have taken meter readings.
• We have agreed how bills are split and paid.