Many of you are receiving renewal notices in the mail, and we here at the office understandably have been receiving your questions. Here are the answers for some of the more frequently asked questions.
- When is it due?
The renewal letter and addendum that you receive in the mail will have the date in large, bold letters. Please look carefully.
- Do I have to turn something in?
If you plan to leave at the end of your lease term, you must ABSOULTELY, POSITIVELY turn something in, or we will assume you are staying and automatically renew your lease for another year as stated in your lease. We understand that sometimes you make an error and miss that deadline, so if you come in and apologetically say that you missed the deadline, we are happy to work with you a week or so after the deadline.If you plan on staying, we like to have the addendum back as soon as possible so we can go ahead and update your account. You will be automatically renewed if we never hear back from you.
- Do I have to renew for a whole year?
All campus properties MUST renew for a full year lease term. The off-campus properties of Cedar Crest, Quail Valley, and Windsor Hill can be negotiated with our property managers.
- What if I live in a campus property, but will only stay for six months?
If that is the case, when you send in your renewal, indicate that you want to put your apartment up for re-let. (For more information, please visit our post on re-letting). We have a good number of students that come in January looking for campus properties, so the likelihood of getting your apartment re-let are good.
- Does my co-signer have to sign too?
It is preferable that all parties sign the addendum and return, but one signature is enough.
- What if I want to stay, but one or more of my roommates do not?
First, the addendum needs to be brought into the office, and both roommates need to sign and indicate who is staying and who is leaving. Then you have one of three options.
a) If no other roommate will be added, no further action will be required.
b) If another roommate will be added to the lease, the new roommate needs to come into the office with an application, co-signer application if applicable, and the $35.00 application fee. When the new roommate is approved, the lease will be re-drawn, and all parties involved will re-sign.
c) If the remaining tenant and co-signer agree, the new roommate can be added to the account but not sign a new lease. If you choose that option, the new roommate will not be financially or legally obligated to the unit should any problem arise.
More importantly, the two original tenants need to decide what to do with the original deposit. The outgoing tenant can leave the deposit with written instructions signed by both parties stating what to do with the deposit at the end of the lease. The other option would be for us to refund the deposit to the outgoing roommate, and the incoming roommate would be responsible for paying that half and bringing the account back to balance.
Hope this answers your questions and helps you make an informed decision about renewing your lease with us.