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Payments - Essential Living
— Payments
How much do I need to pay before I move in?

The holding fee to hold the apartment is £1,000 (please read our cancellation policy). If your application is successful this will be deducted from your damage deposit, which is due on the completion of your booking.

Once references are passed a 4-week deposit (held by the Tenancy Deposit Scheme) is payable along with your first rental payment (please read our booking T&Cs).

If your booking is completed before or on the 15th of the month, your first rental payment will cover up until the end of that month (calculated as your total annual rent divided by 365 and multiplied by the remaining days in the month). If your booking is completed on or after the 16th, your first rental payment will be the remainder of that month (calculated as above), as well as the full monthly rent for the following month.

Is there a charge for payments by Credit Card?

We charge a 2% surcharge for Credit Card payments.

Is there a holding fee?

There is a holding fee of £1,000 which will be deducted from your damages deposit when you complete your booking. If you fail your application, this £1,000 will not be refunded.

What is the deposit and how much is this?

The damages deposit will be 4 weeks’ rent and it covers any damages to your apartment or its furnishings that occur during your tenancy. The amount will depend on your apartment type.

What method of payments can I use?

Your holding fee, damages deposit and first rental payment can be paid by debit card, credit card or bank transfer. Monthly rental payments can only be paid by Direct Debit.

Are utilities included in the rent?

Yes they are. Your rent includes an estimated contribution towards the following utilities:

  • Heating/hot water
  • Water
  • Electricity

The rent also includes building-wide 45Mbps broadband.

Any bills outside of the above (e.g. TV license, council tax) will need to be arranged separately.

When is rent due?

Rent is due on the 1st of the month by Direct Debit.

Will my rent increase during my tenancy?

Your rent will not increase within the first 12 months of your tenancy. After the 12-month period has passed we may increase your rent on an annual basis using a formula based on the retail price index. This only applies to 2-year leases; any 12-month renewal is at market prices.

How do I get my deposit back?

Your deposit is protected and returned at the end of your tenancy by TDS. This will be less any reasonable charges that have been previously agreed by you. We are required by law to return this to you within 10 working days.

Who do I contact for a deposit refund?

Once your tenancy has finished you will be refunded your deposit by Essential Living Management who will manage this process for you.

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