THIS IS A COPY OF WHAT WAS SENT TO ALL TENANTS AND CO-SIGNERS ON Sept 4, 2014

Dear Tenants and Co-Signers,

Believe it or not, it is time to start thinking about leasing for the 2020-2021 school year.  We wanted to give you as much time as possible to settle in, but as we prepare for the JMU Housing Fair on October 9^th  we need to determine which properties will be available for next year.  We have started to receive calls from interested Tenants and we would prefer to direct them toward houses where the current tenants are not interested in renewal.  We are sorry that the deadline is so close to the start of the semester, but we need to follow the JMU housing schedule.

If your entire group is graduating or already have plans to live somewhere else next year, please let us know and we will remove you from further renewal notices. 

 If you are considering renewing your lease and want to keep your property for the 2020-21 school year, please see the renewal deadlines below.  Please see 2020-21 pricing information below for your property.   

 If you are considering a different location or property size for the 2020-21 school year, please see our web site for a variety of properties ranging from 1 – 10 bedrooms.  Like you, current Tenants have until Sept 4^th to start the renewal process.    Scroll down the page to see the held properties since some Tenants will not renew and their properties will move up to the available properties the evening of the 4^th.

http://castleproperty.com/current-listings.htm

THERE ARE A NUMBER OF ADVANTAGES TO RENEW DURING RENEWAL PERIOD:

S    1:   Secures in your property for 2020-21with no chance that someone else can rent it.

        2:  We waive all applications fees for renewing Tenants during the renewal period ($45 savings/person)

       3.  The change over cleaning fee is transferred to the next lease for Tenants staying in the same bedroom.   ($225 savings/person)

4.      4:   Avoids property showings at your property.

5.        5:   Renewal provides a seamless transition to next year’s housing with no need pay over lapping rents or store items between leases.

6.      6.   Staying in the same property saves on moving and redecorating costs.

7.         7.  Renewing is a lot easier for both the Tenant and Co-signer than moving to a new location.

 Renewal Period deadlines as list in the lease. 

 Deadline # 1   By 5:00 PM – Sept. 1, 2019   Notice of renewal interest, not a commitment.
If your group is either interested in renewal or wants to pass the house to another group, just have your house manager send an e-mail with the names of the Tenants interested in renewal and the contact information of any new Tenants.   This helps us know your interest and enables us to add the new tenants to future notices.

 Deadline # 2   By 5:00 PM – Sept. 4, 2019   Setting up your renewal group.
By this deadline we need to know who is in your group and start to get commitments from the new Tenants.

1.         1.     Provide a list of the Tenant names, bedroom assignments and rent amounts.

2.               2.   New Tenants must complete a Tenant Application and submit a payment of $145.00 ($45 application fee and $100 earnest fee).  Earnest fee is applied to deposit at lease signing.  New tenants should forward a copy of the Co-Signer Application to their parents for their completion.

 Deadline # 3   By 5:00 PM – Sept. 6, 2019   Setting up lease renewal.
By this deadline we need to receive the final pieces for renewal:

1.    Receive the completed Co-Signer applications for the new Tenants.

2.    Receive the deposit difference for renewing Tenants (2020-21 rent – 2019-20 rent)X1.5

3.    Receive one or more dates and times that the group can sign their leases.  Our preference is to sign as a group but if needed we can have separate appointments.  The HM must attend all appointments.  All leases must be signed by Tenants no later than 9:00PM Sept 12, 2019.  Co-signers will have an additional 10 days to sign.

EMPTY BEDROOMS:   If your group would like to rent the property for next year, your group will need to either fill each bedroom for the property or agree to be responsible for the open rooms until roommates are found.  Keep in mind that Co-signers will also need to agree to pay for the open rooms so it is best to have as few open rooms as possible. To avoid the cost to cover any open room rent it is best to begin talking to your roommates and prospects now so you can fill any open bedrooms before lease signing.

We would love to have you renew your lease with us for 2020-21.  Please let us know if you have any questions or how we can assist.  We will begin showing non-renewing properties or properties that have not completed the above deadlines starting on the 10^th of September. 

If you or anyone you know are looking for a different property or location for next year, please see our web site for properties ranging from 1 to 10 bedrooms.

Terms 2019-20 Lease

§ 10.    LEASE RENEWAL:                                                          

Groups that do not want to renew or pass down their property should contact our office and state they are not interested in renewal.  We will remove them and their Cosigners from future renewal deadline announcement e-mails.

August 25^th:  Lease terms and rents will be posted on the Castle Property Web Site.  (www.castleproperty.com)  Notice also sent to Tenants and Co-Signers.
Sept 1^st:  Groups that have any interest in renewal must send an e-mail simply stating they have interest.  This statement of interest is not a commitment.  The names and e-mail addresses of any possible new Tenants should be included so that they can also receive e-mail reminders.

Sept 4^th:  Groups must provide a list of Tenant names, bedroom assignments, and rent amounts.  New Tenants must each submit a completed Tenant Application and pay a $45 application fee plus a $100 earnest payment.  Applications or fees are not needed for renewing Tenants. 

Sept 6^th:  New Tenant and Co-signer applications are due.  The group must schedule a lease signing appointment for a lease signing that will occur no later than Sept 12^th.

Sept 12^th:                 All leases must be Tenant signed by Sept 12^th.

Due to the JMU housing fair schedule, CP must know its property availability by early September for the following lease term.  Tenants in good standing with CP will be given the exclusive option to renew their leases at the next year’s terms and rental rates.  The application fee for renewing Tenants during the exclusive renewal term will be waived.  Failure to meet any of the renewal deadlines below by 5:00PM terminates the exclusive option to renew. 

Properties for which groups have not met their deadlines will be made available to other groups on a first-come-first-served basis.  Groups, including the renewing group, can pay the $45 per person hold fee to take the property off the market for 48 hours.  This provides more time if needed to meet any particular deadline.