The Exchange

If for any reason you decide to leave during your contracted term or decide to cancel after you have signed your tenancy agreement, Property might be able to release you from your tenancy – we’re only able to do this if the following conditions are met:

You agree not to transfer or sub-let the tenancy to anyone else without our written consent, as in point 7.1(n) of the tenancy agreement.
You find a suitable replacement to take a new tenancy agreement for the rest of your tenancy – Property call this a tenancy takeover.

You pay a £50 administration fee. Note – Property can’t refund you until the student replacing you has taken over your room’s contract, signed the tenancy agreement, paid, and moved in. If you can’t find someone to take over your tenancy, you’ll be responsible for paying the full rent until the end of your tenancy agreement.

Can I cancel tenancy after moving in
you can cancel your tenancy after moving in. However, it’s important to note that our cancellation policy will apply in such cases. Property recommend that you review the specific terms and conditions outlined in our cancellation policy to understand any potential fees, notice periods, or other stipulations that may affect your decision.

You can arrange a tenancy takeover, provided that your replacement tenant:

Is at least 18 years old and enrolled as a full-time student in a university near the accommodation.
Sign the tenancy agreement with us for the remainder of your contracted tenancy and pay all the sums due within it.
They will also provide a guarantor where reasonable, accepting the terms and conditions set in the tenancy agreement.

If you’re a first-year prospective undergraduate student and the offer at your preferred higher education institute is withdrawn, Property may be able to release you from your tenancy agreement if:

You find a suitable replacement to take a new tenancy agreement for the rest of your tenancy – this person must be at least 18 years old, enrolled as a full-time student in a university close to the accommodation, enter into a tenancy agreement with us, pay all sums due within it, provide a guarantor where reasonable who must accept the terms and conditions set out in the tenancy agreement.
You provide a written rejection letter from your chosen higher education institute.
You provide a copy of the acceptance letter from your new higher education institute.

The only time you will need a UK-based guarantor is if you choose to pay your rent in instalments.

Your guarantor will need to be over 25 years old and be living in the United Kingdom to be eligible. If you do not have a UK-based guarantor, you can still choose to pay in instalments by using a guarantor service, who can act as a guarantor on your behalf, for a small fee.

Once you select the payment option for instalments during your booking process, we will kickstart the ID verification process by asking for your guarantor’s details. They’ll then need to provide us with proof of address (less than three months old) and a valid photo ID. They’ll also need to provide proof of available funds (for example, three months of payslips and/or a recent bank statement).

Once you have your guarantor sorted, you can enjoy the convenience of paying your rent in four instalments. Here is when your payments will be due.

First payment: 10 days before check-in (this will need to be paid so that you can move in)

Second payment: September

Third payment: January

Final payment: April

You can keep track of all your payments directly through your Hello Student portal account.

Your tenancy agreement will also include this information.

We will not reach out to your chosen guarantor post-booking as we only get in touch if your rent payments are overdue, and you are unable to settle the amounts owed.

So, in a nutshell, needing a guarantor only applies if you choose to pay in instalments.