Fees

It is important that you understand that when you book your accommodation, you are entering into a legal agreement with us and are liable for the full rent due for the Residential Period.

Payment Process

Application Fee

The fee to process each application is £120 for a London property and £70 for a Sheffield property. The Application Fee pays for our administrative procedures such as credit checks and background checks. So it is non-refundable after you have submitted your application.

Holding Deposit

The Holding Deposit to secure your London room is equal to:

  • 6 weeks' rent when the lease term is greater than 3 months;
  • 1 month's rent when the lease term is 1-3 months;
  • total rent when the lease term is less than one month.

The Holding Deposit to secure your Sheffield room is equal to:

  • £200 per booking

The Holding Deposit is non-refundable unless we are unable to accommodate you in the relevant city.

On the first day of your tenancy, the Holding Deposit becomes a Security Deposit. After you vacate the room this deposit will be refunded to you, minus the cost of any damages, cleaning fees, and any unpaid rent and utility bills (please refer to clause 3 of your tenancy agreement regarding deductions of deposit).

Deposit

Your Deposit will be held under a government-backed tenancy deposit scheme (TDP) and will be used as security against any damage to the Room, the Flat or the Property (fair wear and tear excepted), any damage to the furnishings or other equipment provided (fair wear and tear excepted) and any unpaid Rent or other charges incurred during the duration of your Tenancy Agreement.

Rent

Before the tenancy is due to start, all outstanding balance must be paid as set out in your tenancy agreement, UCNEST must receive all payments before check-in procedure takes place.

When the rent is agreed to be payable in instalments, the tenant must pay the rent on time as stated on your agreement:

  • For lease term of 6 months or above, first payment will include the first month’s rent and the last two months’ rent of the tenancy, the remaining payments are to be paid monthly on a date as set out in your agreement;
  • For lease term of 3-6 months, first payment will include the first month’s rent and the last month’s rent of the tenancy, the remaining payments are to be paid monthly on a date as set out in your agreement;
  • For lease term of 3 months or less, the full amount of rent is payable in advance.

For the rooms that are permitted to accommodate additional tenants, the rent of the rooms will raise 20%.

Cancellation Policy

Your Tenancy Agreement cannot be cancelled or terminated before the end date of the tenancy. Unless a suitable replacement is to take over your agreement until the end of the tenancy.

The replacement person has to be approved by the Landlord and have passed credit and reference check before your agreement can be transferred.

An administration fee of £120 per room in London and £70 per room in Sheffield for transfer of your agreement is applicable.

After you decide to transfer your Tenancy Agreement, a written notice must be submitted to UCNEST via

  • Post: Urban and Campus Nest Ltd, UCNEST, 154 Bishopsgate, London, EC2M 4LN; or
  • Email: info@ucnest.com