Optima

If the booking is cancelled by the applicant prior to it being countersigned, the Advance Rent payment will be returned.

Once the booking is countersigned, Property offer a 72 hour “cooling off” period so if circumstances change, the tenant can cancel the booking subject to having not moved into the property. 

From the 1st August 2025 the “cooling off” period is reduced from 72 to 24 hours after the booking is countersigned. To cancel the booking during the cooling off period, please email the Residents’ Team within 72 / 24 hours of being sent the ‘Lease Agreement Executed’ email. The tenant will then be refunded the advance rent payment. NB. This may take up to 10 working days to reach your account.

If an applicant fails to get a visa to enter into the UK, they can cancel their tenancy by providing evidence of their failed visa application. Once Property receive this, Property will confirm receipt of your request to cancel and refund your full Advance Rent.

Once the “Cooling Off” period has expired, the tenant can cancel the booking prior to the tenancy start date if:
• You have not acquired the grades to be offered a place at the chosen university.
• You have failed to achieve the grades to continue your study at university.

In these circumstances, please provide evidence (UCAS notification) to the Residents’ Team within 72 hours of being notified. Once Property receive this, Property will confirm receipt of your request to cancel and refund your full Advance Rent. Should you not receive notification of these criteria until after the tenancy start date, you will be responsible for all rent payments up to the date you provide us with confirmation documentation from UCAS and Property reply to confirm the release date with you.

There are no other circumstances under which Property will accept a request for a cancellation either before or during the tenancy.

It may be possible to agree an early termination of the tenancy with the Landlord on the condition that you find someone to take up a new tenancy with the Landlord for the remaining term you no longer wish to have your tenancy for. The Landlord may exercise the right to amend or vary the terms of the tenancy agreement that the new contract holder enters into, including amending the rent to be charged to the current market rate for the accommodation. If you find a replacement, Property will need to do some basic checks to confirm their eligibility to enter into the contract.

Before Property will accept the new tenant, your account and all obligations need to be up to date and any rent due up to your tenancy ending will need to be paid. There will also be a charge incurred (please see Fee Schedule for details). Once the new person has signed the Tenancy Agreement and made the first rent payment, they will take responsibility for future rent payments and all other obligations as stated in the agreement. Until this has happened you will remain responsible for the payment of rent until the original end date of the tenancy.

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

• August: Payment for 8 weeks

• October: Payment for 9 weeks

• January: Payment for 18 weeks

• April: Payment for 16 weeks

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

• August: Payment for 7 weeks

• October: Payment for 8 weeks

• January: Payment for 15 weeks

• April: Payment for 14 weeks