Life is expensive and becoming more so daily, which can have a dramatic impact on student’s financial circumstances. Faced with tuition fees, expensive textbooks and daily living costs, renting an apartment can present as an unattainable dream. However, this doesn’t mean that students do not have alternatives. One such is to share living space!
Why share
Sharing a living space with other students is an affordable option for those under financial stress. Student life is never smooth, what with the pressures of meeting your study deadlines and submitting homework or projects. On top of this is the strain of watching every Rand. Many students, who do not have the liberty of living near their higher learning facility, may also need to take on a job, just to make ends meet. It follows, therefore, that few such students can rent an apartment.
Consider these impacts:
Rent:
Rent prices for apartments near campuses are usually high. For instance, a decent one-bedroom can cost up to R9,000 per month. As a student relying on little or no income, this is overwhelming. However, with house sharing, this amount is divided amongst the people sharing a living space, which can make rental far more affordable.
Expenses:
Living alone means students are responsible for every expense in their rental, such as electricity, water, and internet. These bills can be expensive, and worse is that today, no student can live and thrive without them. Sharing these costs with fellow students reduces the financial burden, providing some wriggle room for other financial commitments, or maybe for spending on, at least, a little fun. Most student apartments today, however, usually include fibre wifi.
Furnishing and maintenance:
The most affordable student rentals usually come unfurnished or at least semi-furnished - meaning a bed and a desk. This results in the student being under more financial restraint in having to acquire furniture and appliances. Maintenance/repair is an added burden, that is if the fault lies with the student, and not the owner-landlord, who is usually obligated to undertake regular maintenance or fix problems.
Name on the lease when sharing
There are two options.
The first is to only have one name on the lease. In this situation, one student might choose to put themself forward as the lessee, but this means collecting the balance of the rent money from the rest of the housemates. This option requires trust, and which can create problems if one person defaults.
Another option is a joint tenancy. Tenants in this situation sign the lease agreement together, share equal responsibilities and accountability for the rent and property condition. This is not common practice in SA, and if a rental agency is involved, it means the occupants will not have a choice about with whom they will share the property.
Subletting is also not popular but not unusual. One student may find themselves needing accommodation, and another needing a flatmate if someone else has moved on. It’s great though for the student that does own a property, and wants to cover their bond repayments. This is also an ideal situation if there is a spare room.
Where to look
Consider university housing boards; these are great places for students looking for roommates or shared living spaces. They are designed specifically for students and some postings have even been verified. Social media groups are also popular for connecting those who require a rental, and which for landlords, makes it easier to find a tenant.
Rental online platforms also present different options, with users able filter their search by location, price, budget, etc.
Lastly, don’t underestimate word-of-mouth. You just don’t know who knows who, and how connections may be able to introduce you to rental opportunities.
Beyond the obvious financial perks
New friends:
Meeting strangers and sharing a house means students have the opportunity to expand their circle of friendships, even build long-lasting relationships.
Shared responsibilities:
Sharing chores makes housework quicker and easier. This also teaches valuable skills such as teamwork and effective communication.
Cultural exchange:
Being exposed to various cultures, allows everyone to gain new insights, and challenge negative perceptions.
House sharing is not only about achieving financial savings, it’s also about making the most of varsity years. Meeting new people and creating memories while saving money is the best solution for an all-round healthy student life.
