- July 18, 2016
- July 15, 2016
- June 30, 2016
The Student Lease offers many unique features that are not offered in the conventional NAA Click & Lease program lease forms including:
Student housing communities can have multiple residents who sign separate lease contracts the lease defines the term “co-resident” as “an individual who is sharing your bedroom or occupying another bedroom in the same apartment as a resident under a separate lease contract.” The language goes on to detail the bed-by-bed occupant standards ensuring each bed is occupied only by the resident listed on the lease. This paragraph also requires prior written consent from owners or managers for any guests staying over a length of time that you can designate as appropriate for your community.
The Click & Lease Student Housing Lease also draws a distinction against the apartment lease by stating “this lease contract does not automatically renew.” The Lease Term paragraph also reserves the owner or manager’s right to rent the bedroom to another resident if the current resident fails to sign a renewal.
Transfers are also addressed and the lease language reserves the right for the management company to charge a transfer fee if the transfer is requested after a certain time period. The transfer fee and transfer notice period are subject to the discretion of the management company. The move out procedures is also slightly different from the apartment lease as bed-by-bed residents are only required to give a 30-day notice prior to move out.
Learn about the perks and benefits of working in residential property management and some of the reasons the industry provides career growth, stability and endless opportunities.