iQ Exchange,
นอทธิงแฮม

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.

What is the cooling-off period?
You may cancel your booking within 7 days of accepting the Booking Terms & Conditions (or within 7 days of paying the Booking Fee, where applicable). If you cancel within this period, any Booking Fee or advance rent paid will be refunded, where applicable.

Can I cancel my booking after the cooling-off period but before moving in?
Yes, but cancellation without ongoing liability is only permitted if:

• You cancel before 1 August (or at least 28 days before your tenancy start date if your tenancy does not start in September).
• Your UK student visa is refused.
• You do not receive the required grades for your first-choice university (or exceed your grades and attend another university).
• You defer your university entry.

Supporting evidence must be provided where required. Depending on the reason, your Booking Fee may be retained as a cancellation fee.

Can I cancel my booking after 31 July?
After 31 July, bookings cannot be cancelled unless your reason qualifies under the property's cancellation policy, such as No Visa No Pay, No Place No Pay, or an approved deferral.

What happens if I cancel for personal reasons after the allowed cancellation period?
If your cancellation does not meet the eligible cancellation criteria, you will remain responsible for the full tenancy agreement unless a suitable replacement tenant is found and approved.

Can I end my tenancy early after moving in?
Yes, but only by arranging an approved replacement tenant. Once the replacement tenant has signed their tenancy agreement, paid any rent due, and moved in, you will be released from your tenancy and any eligible overpaid rent will be refunded.

What is the No Place No Pay policy?
If you do not obtain the required grades for your first-choice university, or you exceed your grades and attend another university, you may cancel your tenancy. You must provide the required UCAS or university evidence within 72 hours of your results being published to receive a refund of any Booking Fee (where applicable) and rent paid.

What is the No Visa No Pay policy?
If your UK student visa application is refused before your tenancy starts, you may cancel your booking by providing official visa refusal evidence within 72 hours of receiving the decision. Any Booking Fee (where applicable) and rent paid will be refunded.

Can I cancel if I defer my university entry?
Yes. If you defer your university entry before your tenancy starts, you may cancel by providing written confirmation and supporting evidence from your university or UCAS at least one week before your tenancy start date. Any rent paid will be refunded, although the Booking Fee (where applicable) will normally be retained as a cancellation fee.

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.