Berkeley St.,
Santa Monica

When is the security deposit due?
The security deposit must be paid within three (3) business days after signing the lease agreement.

Can I use my security deposit to pay rent or other charges?
No. The security deposit may not be applied to the last month's rent or any other amount due under the lease without prior written consent.

What can be deducted from my security deposit?
Deductions may be made for:

• Cleaning beyond normal wear and tear

• Property damage

• Unpaid rent, fees, or other amounts due under the lease

• Missing keys

• Lease violations

• Other amounts properly chargeable under the lease
  
  
  
  

How is my security deposit returned?
Within 21 days after you have vacated the premises, returned all keys, and provided a forwarding address, you will receive:

• An itemised written statement explaining the reasons for and amounts of any deductions; and

• Any remaining security deposit balance.

Refunds may be issued by check, electronic bank transfer, or other approved refund methods.

When is rent due?
Monthly rent is due in advance on the 1st day of each month.

How do I pay rent?
Rent may be paid online or through any other payment method accepted under the lease, including approved electronic and non-electronic payment methods.

Is prorated rent charged?
If applicable, prorated rent for a partial month will be specified in the lease agreement.

Are there any one-time fees due at signing?
Yes. Upon signing the lease, the following one-time fees apply:

• Placement fee: $125

• Application fee: $50
  
  
  

What happens if rent is paid after the due date?
If rent is not paid in full by the 1st day of the month:

• A $50 late fee applies for payments made between the 2nd and 5th day of the month.

• A $100 late fee applies beginning on the 6th day of the month.
  
  
  

What happens if rent is not paid by the 7th day of the month?
If rent has not been received by the 7th day of the month, eviction proceedings may be initiated.

Does accepting a late payment waive the right to enforce the lease terms?
No. Acceptance of late payment does not waive the right to require full payment when rent is due.

What happens if my payment is returned by the bank?
If a payment is returned due to insufficient funds, a stop-payment order, or any other reason, you must pay the following:

• A $35 returned payment fee; and

• Any applicable late fees.

What happens if I want to end my lease before it expires?
You must select one of the lease-break options below. If you do not select an option, Option 2 will automatically apply.

Can I find someone to replace me on the lease?
Yes. You are responsible for finding your own replacement using your own resources, such as online listings, social media, friends, classmates, or similar sources.

What requirements must the replacement meet?
The replacement must:

• Be approved by management.

• Meet the applicable eligibility requirements (for example, acceptable credit history or valid student documentation, where applicable).

• Be the same gender if the unit is a shared apartment.
  
  
  

What happens after a replacement is approved?
The replacement must sign a new lease agreement.

What will the new lease look like?
The new lease:

• Will end on the same date as your original lease.

• Will have the same rent amount as your lease for the remainder of the lease term.
  
  

What if the replacement wants to stay after the lease ends?
The replacement must arrange any lease extension separately.

When am I eligible for a rent and deposit refund?
You are eligible for a rent and deposit refund only after all of the following have occurred:

• The replacement has been approved.

• The replacement has signed the new lease.

• The replacement has paid the deposit and the first month’s rent.
  
  
  

What happens if I do not find a replacement?
You remain responsible for paying rent for the entire lease term.

Are there different rules for month-to-month leases?
Yes. For month-to-month leases, if a required 30-day move-out notice is submitted late, you are responsible only for paying rent for the 30 days following the notice.

Am I eligible for a deposit refund?
Yes. You are eligible for a deposit refund.

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.