Chapter Old Street, London Verified

Booking Deposit:
A £185 holding fee is required at the time of booking.
This amount will be deducted from your first rental installment.

Installment Plan:
You can opt to pay your lease in 1, 2, or 4 installments.
1.1. Paying in 1 installment will make your total payment 2% cheaper than paying in 2 installments.
1.2. Paying in 4 installments will make your total payment 2% more expensive than paying in 2 installments.

Guarantor:
A guarantor is required for every lease, regardless of whether you choose to pay in 1 installment. The guarantor will be responsible for any unpaid arrears or damage during your tenancy.
Your guarantor does not need to be a UK resident.
The guarantor must not be in full-time education or living in student housing. Typically, a parent, guardian, or family member is used.

Mode of Payment:
You can make payments via credit or debit card, either online or over the phone. Bank transfers are also accepted.
Please note that the property does not accept American Express.

Cooling-Off Period
There is no cooling-off period once the Tenancy Agreement has been signed by the tenant and countersigned by the property staff member.

The Decision Making Period is the period within 3 days of receipt of the Tenancy Agreement. During this time, you must take the following actions to secure your room:

Pay the Holding Fee (which will be deducted from the first instalment of Rent if the booking is not cancelled).

Both the Tenant and the Guarantor must sign the Tenancy Agreement.

Failure to secure your room within the Decision Making Period will result in the cancellation of your booking.

No Visa, No Pay
If your visa application is declined, you may be eligible to cancel your booking.

You must provide:

Proof of your visa refusal.

If you meet this criteria and provide the required documentation, your cancellation request will be granted.

If you have already paid your first instalment of Rent, it will be refunded minus the Holding Fee (or an equivalent amount if you booked after 31st July).

No Place, No Pay
If you fail to obtain the required grades for university admission and thus do not have student status, you may be eligible to cancel your booking.

You must provide:

Evidence demonstrating you failed to meet the grade requirements for your university.

If you meet this criteria, your cancellation request will be granted.

If you have already paid your first instalment of Rent, it will be refunded minus the Holding Fee (or an equivalent amount if you booked after 31st July).

4. Other Cancellation Policies
Cancelling Within the Decision Making Period
The Holding Fee is refundable if you cancel within the Decision Making Period (within 3 days of receipt of the Tenancy Agreement).

If you cancel after the Decision Making Period but before 31st July, any advance Rent payment will be refunded minus the Holding Fee, which is non-refundable.

Taking No Action During the Decision Making Period
If you do not sign the Tenancy Agreement, pay the Holding Fee, or the first instalment of Rent by the end of the Decision Making Period, your booking will be cancelled and your room will be made available for others.

Cancelling After 31st July (But Before the Tenancy Start Date)
If you cancel after 31st July but before the Tenancy Start Date, your cancellation request will be considered under the following criteria:

Visa Decline: If your visa is declined.

Failed University Entry: If you fail to meet the grades required by your university.

If you meet the Cancellation Criteria and provide the required documentation, your first instalment of Rent will be refunded minus any Holding Fee paid (or an equivalent amount if booked after 31st July).

No Cancellation Criteria Met
If you cannot meet the Cancellation Criteria and wish to cancel, you will remain liable for the full rent for the entire term of the Tenancy Agreement. However, if you find a suitable replacement tenant (at the property’s discretion), you may be released from the contract, provided all outstanding accounts are settled.

Replacement Tenant
If you wish to cancel your Tenancy Agreement but are unable to meet the Cancellation Criteria, you may attempt to find a replacement tenant.

Replacement Tenant Process:

You must find a suitable replacement tenant, who must meet the property’s eligibility requirements.

The replacement tenant must sign a new Tenancy Agreement and pay any due rental amounts.

Once the replacement tenant’s agreement is confirmed, you will be released from your contractual obligations.

You will be refunded for any overpaid rent or deposit once the new tenant has moved in.

The room will only be considered secured for the new tenant once they have completed their booking and checked in.

Administrative Fees:

If a replacement tenant is accepted, an administration fee of £50 will be charged to the outgoing tenant for processing the replacement and tenancy transfer.

The outgoing tenant must ensure the room is cleaned according to the standards in the Tenancy Agreement.

Requests for replacement tenants will not be accepted after 1st June within the tenancy period.

Tenancy Agreement
You will receive a copy of your Tenancy Agreement, including the Tenancy Letter and Terms & Conditions, for review and acceptance via the Student Portal.

The Tenancy Agreement becomes effective only once:

The first instalment of Rent is received in cleared funds.

The Tenancy Agreement has been signed by both you and (unless waived by the property) the Guarantor.