iQ Exchange

Cancellation Policy AY 24/25:

iQ Student Accommodation reserves the right to cancel your booking on notice if:

• you notify us after the Deadline that you have decided not to enter into the Tenancy Agreement;
• we take all reasonable steps to enter into the Tenancy Agreement before the Deadline and you fail to do so, for example, if you fail to complete your application or provide guarantor details and supporting documentation in good time;
• you provide us with relevant false or misleading information;
• we are prohibited from entering to the Tenancy Agreement with you because of the Immigration Act 2014 (persons disqualified by immigration status). In the case we cancel your booking for this reason, you will not be liable for the contractual obligations laid out in the Tenancy Agreement from the date of cancellation, irrespective of whether you have signed it;
• we have determined following undertaking Screening Searches that you appear on Sanctions Lists and/or Law Enforcement Databases;
• you fail to cooperate with any Screening Search Additional Information Request(s);
• you have not paid any amounts that have fallen due (including but not limited to, your first rental instalment, any previous year’s rent or damage charges); and/or
• you have committed any breach of the Tenancy Agreement or any previous tenancy agreement with us.

We may also terminate your Tenancy Agreement for any of the reasons set out above, as set out in more detail in clause 2.4 of the Tenancy Agreement itself.

If you enter into the Tenancy Agreement, and you then fail to collect your key within 2 weeks of your Tenancy Start Date, iQ Student Accommodation reserves the right to: (a) cancel your booking and terminate the Tenancy Agreement and (b) re-let your room. In these circumstances any rent paid by you (including any Booking Fee allocated to the first payment of rent) will not be refunded to cover any losses incurred by us for empty unlet rooms.  This provision takes precedence over any provisions in the Tenancy Agreement.

If your booking is cancelled in such circumstances, any Booking Fee you have paid will be retained by IQ. 

Cancellation by you – prior to collecting your key or prior to your tenancy start date

If you have not entered into the Tenancy Agreement, the Deadline has passed and you wish to cancel your booking, then any Booking Fee you have paid will be retained by IQ. 

 If you have entered into the Tenancy Agreement and you wish to cancel your booking, you will remain liable for the contractual obligations set out in the Tenancy Agreement and you may not cancel the booking unless you can provide proof that you fit any of the following criteria and have not yet collected your key, or your tenancy start date has not yet commenced, and provide the evidence required within the timescales as detailed below: 

• you notify us of your intention to cancel your booking prior to 1 August or, if your Tenancy Start Date (as defined in your Tenancy Agreement) is in any month other than September, 28 days before your Tenancy Start Date.
• you notify us of your intention to cancel within 7 days of payment of your Booking Fee (if you have paid a Booking Fee) and you have not collected your keys.
• Your UK Visa application has been denied.
• You have not obtained the required qualifications to get into your first University of choice
• You are deferring your university entry.

Where proof is provided in accordance with these terms and conditions and to our reasonable satisfaction, you will be entitled to cancel the booking and you will not be liable for the contractual obligations laid out in the Tenancy Agreement from the date of cancellation.

All cancellation notifications must be made via the 'cancel my booking' button found in your iQ Account using the iQ app or the online resident portal or by emailing Hello@iqstudentaccommodation.com

Where the reason for cancellation is not one of the five matters listed above (e.g. you have changed your mind, booked a different accommodation, voluntarily withdrawing your university entry etc.), you will remain liable for the full contractual rent, unless and until a replacement tenant is found for your accommodation. You are responsible for finding an eligible replacement tenant, although site staff will assist where possible. 

If you wish to cancel the booking and a replacement tenant is found, subject to our agreement, you will be released from the contractual obligations set out in the Tenancy Agreement. Once the new replacement tenant has signed their Tenancy Agreement and paid any rent due, any overpaid rent money will be refunded to you, less an amount equal to your Booking Fee (if you have paid a Booking Fee) as a cancellation fee.  Please note that all tenancies commence on a Saturday; therefore the relevant site team will confirm your official release date from your contractual obligations under the Tenancy Agreement.

Evidence required where there is a cancellation by you

Notify us of your intention to cancel within 7 days of payment of your Booking Fee (if you have paid a Booking Fee) and you have not collected your keys.

No further evidence is required beyond notifying us, and your Booking Fee will be returned to you.

Notify us of your intention to cancel prior to 1 August or 28 days before your Tenancy Start Date if your Tenancy Start Date is in any month other than September but more than 7 days after the payment of your Booking Fee (if you have paid a Booking Fee).

No further evidence is required beyond notifying us. Your Booking Fee (if you have paid a Booking Fee) will be retained as a cancellation fee.

Failure to get in to your first university of choice 

Should you fail to gain the required qualifications and are not accepted into the University you stated as your first choice, or you choose to go to a different University because you have exceeded your expected grades, you may cancel your Tenancy Agreement and we will refund any Booking Fee and any rent payments made so long as you provide the following information within the timescales mentioned below: 

• Written confirmation from you that you wish to cancel your reservation due to having failed to obtain the required grades for your first choice University or you have exceeded your grades; and
• Supporting written evidence from the University or UCAS rejecting your entry/acceptance of your new university.

This information must be provided to us within 72 hours of your exam results being published to be eligible for a Booking Fee refund (if you have paid a Booking Fee). In these circumstances, any Booking Fee and rent payments will be returned in full within four weeks. If you fail to provide the information within 72 hours of your exam results being published, any Booking Fee will be retained as a cancellation fee.

Please note, if you are attending another University in a city where iQ Student Accommodation has a property, our team will be happy to support you in finding suitable accommodation. In this case, any Booking Fee and any rent payments made may be transferred over to your new booking.

Failure to obtain a UK Visa

If you fail to obtain a UK Visa before the start date of your tenancy, we will cancel your Tenancy Agreement and refund any rent payments made so long as you provide the following information:

• Written confirmation from you that you wish to cancel your reservation; and
• Supporting official evidence to show that the Visa was declined.

This supporting evidence should be supplied to iQ Student Accommodation within 72 hours of you receiving official confirmation. In these circumstances, any Booking Fee and any rent paid will be returned to you within 4 weeks. 

Deferment of University entry

If you choose to defer your university entry to the next academic year before the start date of your tenancy, we will cancel your Tenancy Agreement and refund any rent payments made as long as you provide the following information:

• Written confirmation from you that you wish to cancel your reservation due to deferring your university entry to the next academic year; and
• Supporting written evidence from the University or UCAS to confirm deferral

In these circumstances, any Booking Fee will be retained as a cancellation fee.

Cancellation by you  after date of key collection or commencement of Tenancy Start Date – Tenancy Takeover

Once you have collected your key or the Tenancy Start Date has passed, the only way to release yourself from the Tenancy Agreement is to find a replacement tenant who will take on the full contractual obligations under the Tenancy Agreement. If you wish to end your tenancy early and have found a replacement tenant, we will, acting reasonably, consider terminating your tenancy and entering into a replacement tenancy with a new occupier (a “Tenancy Takeover”). We will only consider Tenancy Takeovers in the period starting one month after your Tenancy Start Date and two months before your Tenancy End Date (“Permitted Period”).

If we approve a Tenancy Takeover during the Permitted Period, you will pay any rent arrears before we release you from your Tenancy Agreement. Such release shall be effective from the start date of the replacement Tenant's new Tenancy Agreement.

Once the new replacement tenant has signed their Tenancy Agreement paid any rent due and moved in, any overpaid rent money will be refunded to you within 28 days of the replacement Tenants new Tenancy Agreement, less an amount equal to your Booking Fee (if you have paid a Booking Fee) as a cancellation fee. If you have occupied the Room prior to this, the cost to prepare the Room for the replacement Tenant will also be charged, and deducted from any refund due (please note that all tenancies commence on a Saturday).

Governing Law

These terms and conditions (including any claims or disputes relating thereto) shall be governed by and construed in accordance with the laws of England and Wales. The Parties irrevocably submit to the exclusive jurisdiction of the English courts over any claim, dispute or other matter arising under or in connection with these terms.