Money Matters
We realise that renting a property can be an expensive business. This page has been designed to answer frequently asked questions on what needs to be paid, why and when.
Since Accomco only rents its properties to groups of full-time students. Everything below is calculated on a per-group basis. Recommended room prices are advertised on our website however students often decide to share costs in a different way. This example uses one of our properties (Ref: HSR1) at 2011/12 rates to illustrate a typical annual payment schedule:
Please note that deductions may be made to the deposit in accordance with the contract. Examples include: rent arrears, property cleaning, damage and unpaid bills.
As shown above, students generally search for properties in January. When they find one that they like, they need to pay a holding deposit* to secure it. This amounts to one third of the property deposit* for the house in question and is non-refundable if the group do not take the property in the following September.
Thereafter, new tenants are require to complete some paperwork, full details of which can be found in the ‘for tenants’ section of this website. By the end of August, the full deposit will be due. In most circumstances this amounts to eight weeks rent. Deposits are protected under the government approved insurance-backed scheme run by myDeposits, further details of which can be found in the FAQs section.
Rent must then be paid on the first of each month starting on the first of September; the last payment will be made on the first of August in the following year, unless the group are staying-on at the house. Deposits are returned, minus any deductions, within 14 days of the contractual end date.
*For a full description of these terms, please see our FAQs section.
