MyPad Paisley,
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To finalise the move-in process, the initial rental payment and the security deposit must be received as cleared funds at least one business day before the tenancy starts. Please note that contracts will not be formally executed until these specific payments are confirmed.

Initial Rent Calculation

The amount due for the first month depends on the move-in date:

• Move-in on or before the 15th: Payment covers the remaining days of the current month. This is calculated by dividing the total annual rent by 365 and multiplying it by the days left in the month.

• Move-in on or after the 16th: Payment must include the pro-rated amount for the current month (calculated as above) plus the full rent for the following month.

Security Deposit

The deposit is equivalent to five weeks’ rent. To comply with regulations, the tenant must transfer these funds directly; payments from third parties are not accepted. 

Once paid, the funds are held securely by the Tenancy Deposit Scheme (Custodial).

Payment Due Dates

Rent is due on the 1st of each month, per the Tenancy Agreement, via standing order.

For joint tenancies, residents must designate one individual to handle the payment; multiple-account payments may trigger extra fees.

All tenancy contracts remain subject to final agreement. Cancellation becomes impossible after signing and executing the Tenancy Agreement, plus payment of the first month's rent.

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.