Signed up for student studio apartment in Coventry - Now not going back next year

easy

OK,  Son signed a contract for a nice studio apartment in Coventry for his final year (this coming September).  He now isn't going back in September - unfortunately he needs to take a year out .  They are lovely studios,  on campus.  Can only be occupied by a student.  https://wearehomesforstudents.com/student-accommodation/coventry/calcott-ten/silver-studio

Obviously when he signed the contract back in February (which is when most students arrange their accommodation for the following year),  he didn't know he wouldn't be able to go back in Sept,  neither did I,  and I signed as guarantor on the contract.  So of course we are liable for the rent on the studio for the year,  unless we can find someone to take over that contract  (which the accommodation company allow/encourage).  

Can anyone tell me if there is anything wrong if we advertise the studio as available,  offering to pay £1000 to whoever takes over the contract (obviously once they have signed all the paperwork),  it's a sort of cash-back deal in effect.

If we can't find another student to take it over we are going to be stuck with paying £12k for the whole year's rent.  Yes I did know that would be the case when we signed the contract,  but didn't know our son was going to be ill.

silvercar

Nothing wrong with offering a sweetener. Be careful how you handle it:
a) you want the provider to agree to signing the contract over to the new student
b) you don't want to be liable if the new student gets into arrears or doesn't take up the place.