Yugo El Faro, Madrid

Security Deposit

• A security deposit may be required before move-in, as specified in the tenancy agreement.
• The deposit will be refunded after the tenancy ends, subject to deductions for any unpaid rent, damages, or other contractual obligations.

Additional Fees

• Registration / Administration Fee: Payable before move-in and non-refundable, except where expressly stated under the room cancellation provisions.
• Smoking Charge: €350 cleaning fee for smoking in a room.
• Smoking Penalty: €100 per person involved.
• Lost Key Replacement: €20 (or the amount specified in the Particular Conditions).

Guarantor Requirement

• A guarantor must be 18 years or older and accepts joint financial responsibility for the tenancy.
• The guarantor and resident are jointly and severally liable for all payment obligations under the tenancy agreement.
• A Spain-based guarantor is required for residents choosing to pay rent in instalments.
• International students without a Spain-based guarantor must pay the full annual rent upfront.
• Residents paying the full tenancy amount upfront generally do not require a guarantor.

Mode Of Payment

• Resident Portal.
• Direct Debit (IBAN).
• Credit Card.
• Debit Card.
• Automatic recurring payments are available.
• Payments are normally collected between the 1st and 5th of each month.
• Bank transfer may be accepted with prior approval from the residence support team.

Pay In Instalment

• Residents may choose one of the following payment options:
• Payment in Full
• Pay the full tenancy amount through the Resident Portal.
• Full payment must be completed at least 20 days before the tenancy start date.
• No guarantor is required.
• Monthly Instalments
• Rent may be paid in monthly instalments.
• Payments are collected during the first five business days of each month.
• Available to residents with a Spain-based guarantor.
• International students without a Spain-based guarantor must pay the full annual rent upfront.

Booking Deposit

• A booking (reservation) deposit is required to confirm the reservation.
• The booking deposit is deducted from the security deposit.
• If the resident fails to pay the security deposit and registration fee within the required deadline, the tenancy agreement is automatically terminated and the booking deposit is non-refundable.

Cooling Off Period

• The tenant has 14 calendar days from the date of signing the tenancy agreement to withdraw from the contract without providing any reason.
• The tenant must notify the provider in writing before the end of the 14-day cooling-off period.
• If the tenancy starts before the cooling-off period expires at the tenant's request, the tenant is liable to pay for the days occupied up to the cancellation date.

Early termination by students

• Standard Early Termination
• Residents may terminate the tenancy by providing written notice.
• A minimum of 15 calendar days' notice is required after the tenancy has started.
• If cancellation occurs between 1 September and 16 January, the resident remains liable for rent until 16 January.
• If cancellation occurs on or after 17 January, the resident remains liable for rent until the original tenancy end date.
• The registration fee is non-refundable.
• The security deposit is non-refundable, unless the cancellation qualifies as a justified cancellation.
• Justified Early Termination
• Early termination may be accepted where:
• The student enrolls at an educational institution outside the province before moving in.
• A documented medical condition affects the student or a close family member (up to second-degree relatives).
• Another documented reason is approved by the residence management.

Replacement Tenant Accepted

• If a replacement resident is found by either the resident or the residence for the remaining contract period:
• The outgoing resident is liable for rent only until the day before the replacement resident moves in.
• The registration fee, booking deposit, and any applicable contractual deductions remain non-refundable.

Other cancellation policies

• The residence may terminate the tenancy if:
• Rent remains unpaid for more than 15 days.
• The resident commits one very serious disciplinary offence, two serious offences, or three minor offences.
• The resident breaches health and safety regulations.
• Illegal or dangerous activities occur.
• The resident is expelled from their educational institution.
• Any other contractual breach occurs.

Delayed Arrivals & travel restrictions

• If you are unable to travel due to government-imposed travel restrictions, please contact the team with the relevant supporting documentation. We will facilitate the request to review your circumstances and explore the possibility of cancellation/contract amendment. Requests are considered individually, and any outcome will depend on the property's review and applicable booking terms.

University Course Cancellation/Modification

• If your course has been cancelled by your university, please reach out to the team with the relevant supporting documentation. We will liaise with the property team to review your request on a case-by-case basis for cancellation. The resolution will be subject to the property's assessment and the terms of your booking.

Deferring Studies

• If you have deferred your studies, please contact the team and share your updated university documentation. We will notify the property team to review your request for cancellation/contract amendment. Requests are assessed individually, and the final outcome will be subject to the property's review and booking terms.

Room allocation

• Students can indicate specific room number or location preferences during the booking process, and the team will accommodate these preferences wherever possible, based on availability.

Check in guide

• Approximately 2–4 weeks prior to the scheduled move-in date, students will receive check-in instructions via email. This communication will include the steps required to select a check-in date and time slot, complete necessary documentation, and settle any outstanding payments prior to arrival.
• In case of any questions or queries, please feel free to contact the team, and our team will assist to ensure a smooth check-in process.

Renewal policy

• Students who wish to extend their stay can contact the team for renewal or rebooking at the same accommodation. Our team will support the renewal process and help students secure a suitable room of their choice. Students are encouraged to reach out early to ensure they can rebook the same room or another room of their choice at the same property.

Early check in policy

• Early check-in requests can be shared in advance with the team. Our team will do a feasibility check to facilitate early check-in requests based on room readiness and availability. Additional charges may apply where applicable.

Pets

• Not Allowed

Smoking

• No Smoking