The Carabanchel Episode,
Madrid

What is the holding deposit and how much is it?
To secure your room, you are required to pay a holding deposit equivalent to one week’s rent.

What happens to the holding deposit after I move in?
When your tenancy begins, the holding deposit is converted into part payment towards your refundable security deposit.

What is required to secure my room?
To take a room off the market, both your holding deposit and completed reservation form must be received. Until both are submitted, viewings may continue and the room will be offered on a first-come, first-served basis.

How can I pay my holding deposit?
You can pay by credit or debit card in the office or via bank transfer. You will receive an automated receipt once funds are processed, which may take up to five working days.

Please send an email confirming your payment including your name and booking address.

What is the tenancy agreement process?
After selecting your accommodation, you will have:

• 3 working days to provide required details for reference checks (you and your guarantor)

• 7 working days after successful references to sign the tenancy agreement

Failure to complete this within the timeframe may result in your booking being cancelled without penalty, and the accommodation being re-marketed.

Is the tenancy agreement legally binding?
Yes. Once signed, the tenancy agreement is legally binding, and you and/or your guarantor are responsible for paying rent in full even if you do not move in or leave early. You are also bound by the terms whether or not you collect the keys.

Can I make changes to my tenancy agreement?
Any requested changes are subject to approval and may incur an administration fee of £25 + VAT (£30 inclusive VAT).

Do I need a guarantor?
Yes. If you choose an instalment payment plan, you must provide a guarantor. The guarantor must:

• Be over 18 years old

• Be based in the UK

• Have sufficient financial means

• Not live with you (except parents/guardians)

They will be credit checked and required to provide income references.

What is a guarantor responsible for?
The guarantor is legally responsible for:

• Paying rent if you fail to do so

• Any costs arising from breaches of the tenancy agreement

• Responding in cases of arrears or serious tenancy breaches, including antisocial behaviour

What are the payment plans and due dates?
Available payment options and dates are provided in the Payment Options Sheet. You must select your payment plan at reservation.

To change your payment plan after signing the reservation form, you must:

• Submit a written request via email 

• Obtain landlord approval

• Pay an administration fee of £25 + VAT (£30 inclusive VAT)

Can payment dates be adjusted for Student Finance?
Yes. If your Student Finance England (SFE) payment dates differ, you must provide official proof. Once verified, your tenancy agreement dates may be adjusted and no administration fee will apply.

Am I responsible for rent if Student Finance is delayed?
Yes. Rent payment is a contractual obligation between tenant and landlord, and is not dependent on Student Finance or bursary payments being received on time.

Cancellation Policy

No refunds will be issued once the booking has been confirmed.

Early Termination Policy

If the stay is ended early, the deposit will be forfeited and will not be refunded.

Payment

To confirm the booking, the student must pay the deposit and the first month’s rent. The remaining monthly rent must be paid by bank transfer within the first 5 days of each month. Students also have the option to pay for the entire stay upfront.

The above cancellation policy is a synopsis of the property’s cancellation policy. There could be a few changes incorporated from time to time. Hence, we recommend you review the full Accommodation Contract for a comprehensive understanding of their cancellation policies.