Riverside House,
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To secure a studio, residents must fulfil two initial financial requirements. First, a £300 deposit is due when the contract is signed. Second, a £500 advance rent payment must be made within six days of city manager countersigning the agreement.

Security Deposit

The £300 deposit serves as a refundable security bond, returned at the end of the tenancy, provided the room remains in good condition. To ensure transparency and legal compliance, these funds are registered with MyDeposits, a government-authorised protection scheme. Residents will receive an official protection certificate within 30 days of payment. This legislative framework safeguards residents’ funds and provides a structured method for resolving any post-tenancy disputes.

Advance Rent

The £500 instalment is a prepayment of the total rent rather than an additional fee. This amount will be credited to the resident’s account, reducing the remaining balance to be paid throughout the year.

Structured Payment Options

Four distinct schedules are offered for settling the remaining rent balance:

• Single Instalment: 100% of the rent paid on August 1, 2026.

• Two Instalments: 50% due August 1, 2026, and 50% due January 6, 2027.

• Three Instalments: 40% due September 1, 2026; 40% due January 6, 2027; and 20% due April 16, 2027.

• Eleven Instalments: The balance is divided into 11 equal monthly payments, due on the 1st of each month.

The 48-Hour Cooling-Off Period

Upon signing the tenancy agreement, residents have a 48-hour window to cancel their commitment. To exercise this right, a written request must be emailed to the Team. Please note that this option expires immediately if the resident collects their keys during this period.

Post-Cooling-Off Liability

Once the 48-hour window passes, the contract is legally binding. Cancellations are only permitted under three specific categories, provided Unilife receives official supporting evidence:

No Place, No Stay: 

If a resident is rejected by their chosen institution or a first-year undergraduate chooses a different university, they may be released.

• Deadline: Evidence must be submitted within 72 hours of the university’s notification.
• Requirements: A UCAS acceptance letter (showing name, date, and new university) or a formal withdrawal letter from admissions (only valid if the tenancy has not yet started).
• Residents who have already moved in or are evicted remain liable for the full contract and must secure a replacement tenant.

No Visa, No Stay: 

If a visa application is denied, residents are entitled to a full refund of their deposit and pre-rental fees.

• Deadline: Proof of rejection must be emailed to Unilife within 3 working days of the refusal date.
• Communication: Residents must keep Unilife informed of potential delays; failure to provide updates before the tenancy start date results in continued financial liability.

Replacement Tenant: 

For all other cancellation reasons, the resident is responsible for finding a successor to take over the contract. Unilife does not assist in searching for new tenants.

• Process: Once a replacement is found, the resident must email their details to Unilife. Unilife will contact the candidate within 48 hours.
• Refunds: After the new tenant signs and pays their initial rent, the original resident’s refund will be processed within 14 working days, minus a £100 administrative fee deducted from the deposit.

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.