This section provides information about your payment obligations and rights.
Payment of fees
It is a condition of your occupancy must be paid according to the terms of the contract. Each student is jointly and severally liable for payment of the total balance. If payment is not made after a request, the property owner will contact the Guarantor of the student and the remaining students for any outstanding fees due. Interest is charged at 3% above the Bank of England base rate from the due date once you are more than 14 days in arrears.
Payment instructions can be found on your contract and Welcome Pack. We suggest you set up a bank standing order for rent on the due dates.
Please ensure your payment reference uses your surname and house number, e.g. “Taylor16”. Your payment may not be allocated correctly if you fail to do this.
Deposit
Your deposits are held by mydeposits.co.uk. They are returned at the end of the Tenancy Agreement, subject to the terms and conditions of that Agreement.
Joint and several liabilities
Each student named on the agreement is:
- considered joint and severally liable
- responsible for all the conditions of the agreement
- responsible for the full amount of the fee or the full cost of any damages not just their own.
You are liable for the total fee, upkeep of the property, and payment of all bills during the duration of the agreement.
If someone wishes to leave the contract for whatever reason during the term, that student remains liable to pay fees and any other monies payable under this Agreement until the term expires or the property is re-occupied (the owner is under no obligation to re-advertise the property) whichever is earlier, whether or not the student chooses to continue occupying the property.