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Leases and Payment


Procedure for Payment in Homestays

The student pays the first month or part thereof directly to the head of the household upon arrival in euros. Upon payment students should request a receipt.

Important - Payment in euros must be made in cash. No credit cards, personal checks, or American Express traveler's checks will be accepted. Students do not receive housing charges on their e-bill.

Students may decide to exchange AMEX traveler's checks/US dollars at the airport upon arrival, as most banks do not allow ATM withdrawals above 300€ on the same day. Students are responsible for carrying or having access to the first month's rent upon arrival.

Rent for the second and remaining months should be paid to the head of the household by the 3rd of the month.

Note: Rent is assessed from a student's arrival at the homestay until their final departure. Students' rent is not discounted if a student is traveling or misses included meals.

Madrid Cafe

Apartment Leases & Payment


Important: Apartments are not owned by NYU. They have been recommended by former students.

Students are responsible for all legal agreements made with the landlord. Landlords have been requested to provide students with an English translation of the lease. NYU Madrid will assist the student and will interface with the landlord if necessary. It is the responsibility of the student, however, to sign the lease and pay the rent, utilities, and all expenses associated with the cost of the apartment in a timely fashion.

The lease is signed for the entire duration of the semester and students are responsible for paying rent. Once you sign the lease, you are legally bound to the terms of contract.

Share Lease Information with Your Parents

 

Utilities

Some rentals do include utilities while others do not; a monthly average for utilities will vary from $75-$125. Please be aware that electricity and water are expensive. Utilities might be charged as a flat fee stipulated by the landlord. All utilities must be paid in a timely fashion or be charged in a flat fee stipulated by the landlord. We remind the student to ask for a receipt when making this payment.

Rent & Security Deposits - Initial Payments

Upon arrival you will have to pay three month's rent: first, last and one month security deposit. This is the case even if you arrive in the middle of the month or leave before the end of the month.

Important - Payment in euros must be made in cash. No credit cards, personal checks, or American Express traveler's checks will be accepted. Students do not receive housing charges on their e-bill.

Students may decide to exchange AMEX traveler's checks/US dollars at the airport upon arrival, as most banks do not allow ATM withdrawals above 300€ on the same day. Students should request a receipt for all payments.

Security Deposit Return & Damages

If there are damages, the amount will be deducted from the security deposit. If everything is impeccable when the student leaves the apartment, the total amount of the security deposit will be returned to the student shortly before their departure. Students are responsible for coordinating with the landlord/landlady the day of final inspection and the return of the deposit and keys. The landlord may want to inspect the apartment monthly when they come by to pickup the rent.

The student is financially responsible for any damages incurred in the apartment during his/her stay, including damages to furniture, lost or broken articles, general dirtiness, etc. Legally the landlord has the right to demand that the student vacate the apartment for unacceptable behavior or failure to comply with the rules stipulated in the lease, as well as to keep the deposit.

Eviction

If the student is evicted from the apartment due to his or her own negligence or failure to comply with either the NYU Global Housing License or the particular apartment lease, the student is responsible for making his or her own alternate housing arrangements.

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