iQ The Arcade,
London

Booking and Payments

• Advance Rental Payment: Where required, paying the advance rental payment secures the room and serves as a commitment to the booking. This amount is credited toward the first rent instalment.
• Completion Deadline: The Tenancy Agreement must be finalised within seven days of either paying the advance rental payment or accepting the booking terms (if no advance rental payment is required). This timeframe may only be extended by prior mutual agreement.
• Card Fees: No additional surcharges are applied to payments made via debit or credit card.
• Key Collection: Access to the property on the move-in date is contingent upon the completion of all tenancy and guarantor documents and the payment of any rent instalments due by that time.
• Guarantor: For instalment payments, a guarantor is mandatory. The guarantor must complete their agreement and submit documents within 7 days of the Booking Fee payment (or booking confirmation). Failure to do so requires full rent payment upfront.

Room and Tenancy Adjustments

• Downgrades: Residents may switch to a lower-priced room until July 31st preceding the start date, provided space is available. Downgrades are not permitted after this deadline.
• Upgrades and Swaps: Requests to upgrade or move to an equivalent room type are free of charge until the tenancy begins. Post-start date requests are subject to availability and review.
• Tenancy Length: Contract durations can be modified without penalty until July 31st. After this date, the term cannot be shortened, though extensions may be granted if rooms are available.

1. Before Key Collection / Tenancy Start Date

Cancellation by iQ

iQ may cancel a booking before key collection if:

• You notify iQ that you will not sign the tenancy agreement, after the deadline.
• You fail to complete the booking process or provide the required guarantor details or documents.
• False or misleading information is provided.
• Immigration law (including the Immigration Act 2014) prevents the tenancy; in this case, you will have no contractual liability from the cancellation date.
• Screening checks show you or your guarantor appears on sanctions or law-enforcement databases, or you fail to cooperate with screening requests.
• Outstanding payments remain unpaid.
• You breach this or any previous tenancy agreement with iQ.
• A different tenancy agreement is required by law for 2026/27 bookings (clause 2.4).
  
  

Failure to Collect Keys

If you sign the tenancy agreement but do not collect your key within two weeks of the start date, iQ may cancel the booking and re-let the room.
 Any booking fee will be retained and rent already paid will not be refunded. This provision overrides conflicting tenancy terms.

Cancellation by You

If you cancel before collecting your keys:

• If the agreement has not been signed: cancelling after the deadline means the booking fee is retained.
• If the agreement has been signed: you remain liable unless one of the following applies:
  
  
  • Early Notice: cancel before 1 August, or 28 days before the start date (for non-September tenancies). Booking fee retained.
  • First-Choice University: failure to obtain required grades, or choosing another university after exceeding grades. Evidence required within 72 hours of results. Booking fee and rent refunded.
  • UK Visa Refusal: official evidence required within 72 hours. Booking fee and rent refunded.
  • University Deferral: evidence required at least 1 week before the start date. Rent refunded; booking fee retained.
    
    

For any other reason, you remain liable for the full rent unless a replacement tenant is accepted by iQ. Refunds are issued once the replacement tenant signs and pays. Tenancies normally start on a Saturday.

2. After Key Collection / Tenancy Start Date

After keys are collected, release is only possible through a Tenancy Takeover during the permitted period (1 month after the start date until 2 months before the end date).

• You must find a suitable replacement tenant.
• All rent arrears must be cleared before release.
• Overpaid rent will be refunded within 28 days of the replacement tenant’s start date.
• iQ may deduct charges for damages.
  
  

3. Governing Law

This agreement is governed by the laws of England, and the courts of England have exclusive jurisdiction.

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.