A placement year is the odd one out of London moves: longer than an internship, shorter than a graduate contract, and funded by a salary that's real but modest — typically £22–28k. That combination shapes every housing decision. Here's the checklist, in the order that matters.
1. Match the Contract to the Placement
Most placements run 9–12 months, often July-to-June or September-to-August. A standard 12-month contract covers it — the questions to ask are what the notice period is, when exactly the contract starts and ends, and whether you can renew if you're offered a graduate role. Nook's contracts run for 12 months, so a placement year lines up neatly with one contract. More in our intern & placement housing guide.
2. Budget Backwards From Take-Home
£24k gross is roughly £1,700/month take-home. A workable London placement budget looks like: rent-with-bills £950–£1,100, transport £160–£190 (Zones 1-2 travelcard), food £250–£300, everything else with what's left. Two implications: first, the all-in rent number is the one to compare — a £230/week all-inclusive room beats a £210/week room plus £30 of bills (why bills-included maths matters). Second, upfront costs bite hardest: a five-week deposit on £250/week is £1,250 before your first payday. A four-week deposit, one full rent period and Nook's standard, is £1,000 on the same room.
3. Location: Optimise for the Office, Not the Legend
You'll commute five days a week on placement — more than most graduate schemes ask. Pick the neighbourhood by commute first: Canary Wharf placements → the Wharf itself or Whitechapel (3 minutes on the Elizabeth line, full guide); City firms → Whitechapel or Islington; West End media/agency placements → Islington or Central London.
4. Paperwork Without a UK Guarantor
Placement students hit the same wall as interns: private landlords wanting a UK homeowner guarantor. The workarounds are the same too — providers who accept placement offer letters instead, guarantor services (£100–£300 fee), or paying a larger chunk upfront. We ranked the options in housing without a UK guarantor.
5. Think About Month Eleven Now
Placements end in a rush: final presentations, uni deadlines for your placement report, and a move-out — usually in the same fortnight. Two things save future-you: a contract whose end date you've checked against your placement's, and a deposit protected in a government scheme with photos from day one so the return is clean. Deposit rules here.
The Checklist, Compressed
Contract dates checked against your placement — all-in rent under 45% of take-home — commute under 30 minutes — guarantor plan sorted — deposit protected and photographed — notice period understood. Six boxes; tick them and the year takes care of itself. Browse placement-friendly rooms.
