The period of the tenancy is 52 (or 53) weeks, from July to July. The exact dates are determined by the academic year which is set by The University of Northampton.
The Tenancy Agreement creates an Assured Shorthold Tenancy, and is based on a standard model, approved by The University of Northampton, DASH, the Borough Council and The Students' Union.
If the property is unoccupied during the first 8 weeks of the tenancy, a 'retainer' only is required, equivalent to half-rent.
Each tenant must be able to provide a suitable 'guarantor'. This person (usually a parent) must be a UK homeowner, and will be required to complete a Deed of Guarantee.
The Tenancy Agreement is 'joint & several'. However a tenant’s guarantor is not liable for the non-payment of rent of other tenants.
Rent is calculated weekly and includes bills. No Council Tax is payable by full-time students.
The fully-inclusive rental package is based on an equal weekly figure per person. However, by prior agreement, a group of tenants may choose to apportion the total rent payable in a different way.
Rent is paid termly, via direct debit, and specific payment dates are scheduled a few days after the start of each term, in order to assist tenants with cash-flow.
The summer retainer (half-rent for up to 8 weeks) is payable at the start of the tenancy. If the house is occupied full rent is payable.
A damage deposit, based on £300.00 per individual tenant, is payable when the Tenancy Agreement is signed. This is returnable at the end of the tenancy period subject to the property’s condition.
All deposits are protected by www.my|deposits.co.uk.
The damage deposit should not be confused with the holding deposit which is simply a way of reserving a property, subsequent to viewing, and returnable on the signing of the Tenancy Agreement.