Termination/Cancellation Policy - Student Housing

 

1.1 Termination by the Landlord. This agreement may be terminated by the Landlord if: (a) the Tenant fails to check into their assigned Room within five (5) days of the first day of the First or Second Semester of the school year; (b) the Tenant abandons their Room as detailed in section 1.3 of this Agreement; (c) the Tenant decides not to accept the Room they were assigned, or any alternate rooms offered to them during the course of this Agreement; or (d) the Tenant violates any of the terms of this Agreement. If Termination of Residency is deemed appropriate by the Landlord there will be no financial compensation to the Tenant. The Landlord may notify the Guarantor by phone or e-mail of the termination of the Tenant's residency at the same time, if possible, as written Notice of Termination of Residency is delivered to the Tenant. If the Tenant is unavailable to receive service of the notice in person, then delivery of the notice to the Tenant's Room shall be deemed proper service and delivery. The Tenant will be allowed 24 hours from the date and time of delivery of the Notice of Termination of Residency to fully vacate and remove all personal belongings from the Residence.

 

1.2 Termination or Cancellation by the Tenant. If the Tenant wishes to terminate this Agreement, the Tenant must notify the Landlord in writing by mail, fax, or e-mail. Refunds will be issued by the Landlord as detailed in section 1.6.

 

1.3 Abandonment. If the Tenant vacates the Room prior to the expiry of the Term without the Landlord's prior agreement, the Room will be deemed abandoned by the Tenant. In that event, the Landlord may (i) repossess the Room without liability to the Landlord, and (ii) enter into an agreement for the occupancy of the Room with a third party.

 

1.4 Termination Procedures. Upon the termination of the privileges of this Agreement, the Tenant shall, forthwith vacate the Room within the time frame given, and deliver to the Landlord vacant possession of the Room together with all of the furnishings, fixtures and appliances of the Residence, and the furnishings and fixtures shall be in good condition, with reasonable wear and tear excepted. The Tenant will follow all additional directions communicated by the Landlord.

 

1.5 Failure to Vacate. If the Tenant does not vacate the Residence on the expiry or early termination of the Lease Agreement or this Agreement, (i) the Tenant is liable for any financial loss sustained or incurred by the Property Owner or the Landlord, and (ii) the Landlord may remove the property of the Tenant from the Room (whether or not the Tenant is present at the time), and place the property in temporary storage in a location in the Residence of the Landlord's choice, at the Tenant's expense, without notice to the Tenant and without liability to the Landlord for any damage to or loss of the Tenant's property.

 

1.6 Refund Procedures. Upon the termination of this Agreement by the Tenant, the Tenant may be entitled to a partial refund of the Deposit, without interest, within eight (8) weeks of the Tenant vacating the Residence. The refund will be in the form of a cheque mailed to the Tenant's permanent address on file. Residence Fees, cancellation fees and refunds will be calculated on a pro-rated daily basis. Deposits are refunded less any outstanding charges and administration fees. Refunds are issued based on the following:

 

 

 

1.7 Refunds when a Tenancy starts on or around September 1st.

 

(i) If the Tenant's written cancellation request is received by the Landlord prior to June 15 (Deadline 1), the Tenant will receive a full refund of the Deposit and any Residence Fees paid to date.

 

(ii)If the Landlord receives the Tenant's written cancellation request after June 15 (Deadline 1) but before August 1 (Deadline 2), then the Tenant's Deposit will be forfeited.

 

(iii) If the Tenant is on the wait list for Residence and the Landlord receives a written cancellation request before the Tenant is accepted to Residence, then the Tenant will be refunded the full Deposit.

 

(iv) If the Landlord receives the Tenant's written cancellation request after August 1 (Deadline 2), but before the first day of the Term (Deadline 3), then the Tenant will be charged a late cancellation fee. The cancellation fee will be equivalent to 1.5 months rent. The Deposit will be refunded less any damages, charges or money owing to the Landlord.

 

(vi) If the Landlord receives the Tenant's written cancellation request after the first day of the Term (Deadline 3) and before November 15 (Deadline 4), then the Tenant will be charged for each day they occupy a residence room plus a cancellation fee. The Tenant must complete all Move-out Procedures before cancellation fees and refunds will be assessed and issued. The cancellation fee will be equivalent to 2 months rent. The Deposit will be refunded less any damages, charges or money owing to the Landlord.

 

(vii) If the Landlord receives the Tenant's written cancellation request after November 15 (Deadline 4), then the Tenant will be charged for each day they occupy a Residence room plus a cancellation fee. The Tenant must complete all Move-out Procedures before cancellation fees and refunds will be assessed and issued. The cancellation fee will be equivalent to 3 months rent. The Deposit will be refunded less any damages, charges or money owing to the Residence.

 

1.8 Refunds when a Tenancy starts on or around May 1st.

 

(i) If the Tenant's written cancellation request is received by the Landlord prior to February 15 (Deadline 1), the Tenant will receive a full refund of the Deposit and any Residence Fees paid to date.

 

(ii)If the Landlord receives the Tenant's written cancellation request after February 15 (Deadline 1) but before April 1 (Deadline 2), then the Tenant's Deposit will be forfeited.

 

(iii) If the Tenant is on the wait list for Residence and the Landlord receives a written cancellation request before the Tenant is accepted to Residence, then the Tenant will be refunded the full Deposit.

 

(iv) If the Landlord receives the Tenant's written cancellation request after April 1 (Deadline 2), but before the first day of the Term (Deadline 3), then the Tenant will be charged a late cancellation fee. The cancellation fee will be equivalent to 1.5 months rent. The Deposit will be refunded less any damages, charges or money owing to the Landlord.

 

(vi) If the Landlord receives the Tenant's written cancellation request after the first day of the Term (Deadline 3) and before July 15 (Deadline 4), then the Tenant will be charged for each day they occupy a residence room plus a cancellation fee. The Tenant must complete all Move-out Procedures before cancellation fees and refunds will be assessed and issued. The cancellation fee will be equivalent to 2 months rent. The Deposit will be refunded less any damages, charges or money owing to the Landlord.

 

(vii) If the Landlord receives the Tenant's written cancellation request after July 15 (Deadline 4), then the Tenant will be charged for each day they occupy a Residence room plus a cancellation fee. The Tenant must complete all Move-out Procedures before cancellation fees and refunds will be assessed and issued. The cancellation fee will be equivalent to 3 months rent. The Deposit will be refunded less any damages, charges or money owing to the Residence.

 

Revision 1.3 - Sept 1, 2016