Holding Deposit

The Holding Deposit to secure your room is equal to 1 week's rent.

• The holding deposit should be paid to secure your room before signing agreement.
• You will receive the tenancy agreement within three days after the Holding Deposit is paid.

• The tenancy agreement should be signed within FIVE days after you receive it. On the day you sign the tenancy agreement, the Holding Deposit will turn into part of your Deposit.

• The remaining Deposit need to be paid within THREE days of signing the tenancy agreement

It is important to note that if you fail to sign the tenancy agreement within five days after you receive it, the Holding Deposit is non-refundable and the room will go back to market at that point.

If we are unable to make you an offer of accommodation, in which case we will refund it in full.

Deposit

Deposit of your London room is equal to:

• 5 weeks' rent when the lease term is greater than 3 months;
• 1 month's rent when the lease term is 1-3 months;
• total rent when the lease term is less than one month.

Deposit of your Sheffield room is equal to:

• 1 month's rent

Your Deposit will be held under a government-backed tenancy deposit scheme (TDP) and will be used as security against any damage to the Room, the Flat or the Property (fair wear and tear excepted), any damage to the furnishings or other equipment provided (fair wear and tear excepted) and any unpaid Rent or other charges incurred during the duration of your Tenancy Agreement.

After you vacate the room this deposit will be refunded to you, minus the cost of any damages, cleaning fees, and any unpaid rent and utility bills (please refer to clause 3 of your tenancy agreement regarding deductions of deposit).

Rent

Before the tenancy is due to start, all outstanding balance must be paid as set out in your tenancy agreement, UCNEST must receive all payments before check-in procedure takes place.

When the rent is agreed to be payable in instalments, the tenant must pay the rent on time as stated on your agreement:

• For lease term of 6 months or above, first payment will include the first month’s rent and the last two months’ rent of the tenancy, the remaining payments are to be paid monthly on a date as set out in your agreement;
• For lease term of 3-6 months, first payment will include the first month’s rent and the last month’s rent of the tenancy, the remaining payments are to be paid monthly on a date as set out in your agreement;
• For lease term of 3 months or less, the full amount of rent is payable in advance.

For the rooms that are permitted to accommodate additional tenants, the rent of the rooms will raise 20%.

Cancellation Policy

Your Tenancy Agreement cannot be cancelled or terminated before the end date of the tenancy. Unless a suitable replacement is to take over your agreement until the end of the tenancy.

The replacement person has to be approved by the Landlord and have passed credit and reference check before your agreement can be transferred.
Please notice that you can not transfer your agreement in the period of the last 6 months at the end of the tenancy.