Renting abroad - Deepstash
Renting abroad

Renting abroad

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Renting abroad

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Setting your rental budget

Properly managing your finances abroad will have a direct and positive impact on your experience. 

The majority of your funds will most likely go on rent. Nowadays, it isn’t uncommon for people to spend around 40% of their monthly income on rent and that’s why, when looking for a home, you need to have clear figures in mind.

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Look at the net monthly income you will have abroad and then calculate how much you will need to spend on: Food, insurance (e.g. Health, Travel), transport, entertainment/ leisure, other ongoing costs you’ll have (phone bills, subscriptions, payments back home, etc.)

Whatever’s left is – approximately – what you can allocate for monthly rent. It’s always wise to keep a financial cushion of one or two hundred, either to save for the future or for one of life’s unforeseen events.

Once you’ve settled on your absolute rental maximum, you can apply this figure to all filtered accommodation searches.

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Before arriving, you can expect to pay:

  • Deposit. Typically, this equal to a month’s rent, but this can vary per advertiser and from country to country. Provided you uphold your end of the contract and there is no damage to the property, you should get the deposit back at the end of your contract.
  • Administrative fees: Some advertisers may charge an extra one-off fee at the beginning, to cover certain rental activities, such as drafting the contract or paying registration fees.

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Maybe your utility bills are not included in the monthly rent. In that case, you will need to pay those on top of the monthly rent, and potentially to someone other than the landlord, e.g. an energy company.

If a bill is excluded from the monthly rent, then it will usually be calculated based on actual usage rather than a fixed amount.

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  • Studio: They tend to be more affordable and more available, though the definition of a studio does vary depending on the location. It usually means living alone.
  • House: This is a popular choice for many making the move abroad. A shared house is attractive to second-year, masters and PhD students in particular, because a house offers a bit more independence from campus.
  • Apartment: Make sure you clarify how many bedrooms are in the apartment before booking anything, as a ‘one room apartment’ can mean a studio in some countries and a one-bedroom apartment in others. 

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