1. Once you sign the tenancy, you lose the right to cancel the booking.
2. You are liable for the full rent unless a suitable replacement is found to take over your tenancy agreement.
3. You can replace yourself under the same terms as your agreement without interruption (this has no penalty or break fee); OR
a. Pay a break fee of 4 weeks if less than 25 percent of the agreement has expired; OR
b. Pay a break fee of 3 weeks if 25 percent or more but less than 50 percent of the agreement has expired; OR
c. Pay a break fee of 2 weeks if 50 percent or more but less than 75 percent of the agreement has expired; OR
d. Pay a break fee of 1 week if 75 percent or more of the agreement has expired.
You will not be able to use the deposit in your final weeks of your stay as the law requires you to continue paying your occupancy fees as per normal. The purpose of the deposit is not for rent but as security in case you break the terms of the occupancy agreement.
In the case of paying the break fee they also need costs including loss of rent, advertising and a letting fee.
Please note: The students will be forfeiting Bond in all the scenarios along with the break fee that is mentioned above.