Foundry Studios

If you accept an offer of accommodation online, or by signing a Tenancy Agreement, then decide you wish to cancel the contract, there are some limited circumstances where you can cancel the booking.

Cancelling within the Initial Cancellation Period (‘Cooling Off Period’)
You can cancel your tenancy agreement for up to 7 calendar days after the date of the booking, which is known as the Initial Cancellation Period, or ‘Cooling Off Period’.

Providing your booking is cancelled within this Initial Cancellation Period, we will refund your full security deposit.

Please note, refunding the deposit after cancelling the booking may take a number of weeks depending on where it is up to in the process of securing it with the tenancy deposit scheme, and we cannot influence the speed of this refund.

Cancelling after the Initial Cancellation Period (‘Cooling Off Period’)
If a tenant wishes to cancel the booking after the Initial Cancellation Period (‘Cooling Off Period’) has passed, the tenant remains liable for the rent for the whole length of the contracted tenancy until another tenant that is acceptable to the landlord is found and the room is able to be re-let.

IMPORTANT: Property is under no obligation to enter into a Tenancy Agreement with any replacement tenant that is suggested by any existing tenant, or its representative or agent under this provision.

Rooms that are re-let to a new tenant will be at the current market rate, and not necessarily at the rate the room was previously sold at.

While we will always do what we can to assist, it is not the obligation of Property or the landlord to find a replacement tenant to take over the tenancy.

If a suitable tenant is found and the room is re-let, we will refund the security deposit, less any appropriate charges, as well as a deduction of £50 for the variation of the contract. Please note, £20 will be deducted from the refunded amount to cover international bank charges for deposit refunds made to non-UK banks.

The deposit paid is non-transferable and cannot be moved to another tenant, or to another year.

The ‘Cooling Off Period’ must have passed, or the new tenant have paid their rent and moved into the accommodation before the original tenant is released from their contractual obligations under the tenancy agreement. If the new booking is cancelled by the replacement tenant during their 7 day Initial Cancellation Period, the existing tenant remains liable for the rent until another replacement tenant is found.

Cancelling after the Initial Cancellation Period (‘Cooling Off Period’), AFTER Collecting Keys and/or Taking up Occupation
If a tenant wishes to cancel the booking after the Initial Cancellation Period (‘Cooling Off Period’) has passed, after collecting the keys and/or taking up occupation of the room, the tenant remains liable for the rent for the whole length of the contracted tenancy until another tenant that is acceptable to the landlord is found and the room is able to be re-let.

IMPORTANT: Property is under no obligation to enter into a Tenancy Agreement with any replacement tenant that is suggested by any existing tenant, or its representative or agent under this provision.

Rooms that are re-let to a new tenant will be at the current market rate, and not necessarily at the rate the room was previously sold at.

While we will always do what we can to assist, it is not the obligation of Property or the landlord to find a replacement tenant to take over the tenancy.

The tenant is responsible for ensuring the room is suitable to be re-let, and it must be in the same clean and lettable condition as it was when the tenant took occupation and that it is available for viewings to allow it to be re-let.

If a suitable tenant is found and the room is re-let, we will refund the security deposit, less any appropriate charges, as well as a deduction of £50 for the variation of the contract. No £50 charge will be made for tenancies coming to an end after any applicable legal notice period that applies under current legislation and the deposit will be refunded. Please note, £20 will be deducted from the refunded amount to cover international bank charges for deposit refunds made to non-UK banks.

The deposit paid is non-transferable and cannot be moved to another tenant, or to another year. The ‘Cooling Off Period’ must have passed, or the new tenant have paid their rent and moved into the accommodation before the original tenant is released from their contractual obligations under the tenancy agreement. If the new booking is cancelled by the replacement tenant during their 7 day Initial Cancellation Period, the existing tenant remains liable for the rent until another replacement tenant is found.

Please note, if the tenant moves out early, before the tenancy has ended, they will not be able to claim back the deposit until the tenancy end date.

3-Instalment Plan: 51-Week Tenancy Instalment Plan (Approx. Weeks Paid)

• August: Payment for 17 weeks

• January: Payment for 17 weeks

• May: Payment for 17 weeks

3-Instalment Plan: 44-Week Tenancy Instalment Plan (Approx. Weeks Paid)

• August: Payment for 15 weeks

• January: Payment for 15 weeks

• May: Payment for 14 weeks

10-Instalment Plan: 51-Week Tenancy Instalment Plan (Approx. Weeks Paid)

• August: Payment for 5 weeks

• September: Payment for 5 weeks

• October: Payment for 5 weeks

• November: Payment for 5 weeks

• December: Payment for 5 weeks

• January: Payment for 5 weeks

• February: Payment for 5 weeks

• March: Payment for 5 weeks

• April: Payment for 5 weeks

• May: Payment for 5 weeks

10-Instalment Plan: 44-Week Tenancy Instalment Plan (Approx. Weeks Paid)

• August: Payment for 4 weeks

• September: Payment for 4 weeks

• October: Payment for 4 weeks

• November: Payment for 4 weeks

• December: Payment for 4 weeks

• January: Payment for 4 weeks

• February: Payment for 4 weeks

• March: Payment for 4 weeks

• April: Payment for 4 weeks

• May: Payment for 4 weeks