All Forum Posts by: Wendy S.

@Andrew B.

Will check on this tomorrow. Not in the lease

@Andrew B.

Thanks the range is dependent on the room chosen

The $25 came about because initially they quoted a deal price of $499 for 12 months. But when we asked if they had another package they said yes 10 months with an additional $25.

Now our invoice says regular rate $590 plus $25.

I've decided it's a teaching moment for my daughter and console myself in the fact that we are able to pay the rent so she can have her apt experience.

Thanks for all the responses.

@JD Martin

Thanks for your response and clarification.

While I understand renting ahead. This was not a choice its how their lease is set up to start on the 19th.

So there would be no access to apt prior to Aug 19. To me it seems I would have rather the choice for a regular rental. Which could hve started Aug and end some time in May. Plus graduation is the first week in May, so again not utilizing full rental.

So lesson learned.

@Andrew B.

@Jack Orthman

Sorry about the formatting of the post.

So basically that's how their lease terms is set up starting Aug 19th.

@Andrew B.

@Jack Orthman

The Term of this Lease Contract shall begin at 12:00 noon on 08/19/2019(the “Commencement Date”) and

end at 9:00 AM on 05/31/2020 (the “Expiration Date”).

 Rent: "Rent” shall be paid in 10 equal installments of $590-700 (“Rent Installment”) (plus any incidental additional

charges including, but not limited to, Additional Rent, as set forth in this Lease Contract and all applicable fees and

sales taxes, collectively, “Rent”) for the Term of this Lease Contract. Rent will be due on the 1

st day of the month.

Rent is paid on an installment plan that is unique to student housing versus the first month of prorated rent in traditional

apartment housing. Instead of prorating rent and charging a higher rate in subsequent months, Owner takes the total

sum of Rent and divides it into equal installments.

So that's

@Jack Orthman

So I reached out to them to them. They basically said that's how their leases are structured. Aug 19 to May 31. Or Aug 19 to July 31.

Gave me some bs about it they prorated they would have to charge more for some months than the other due to number of days. So I asked being charged for 18 days VS paying 1 day difference.

So I'd like to hear from others what's the norm for college rentals?

@Jack Orthman

Thanks Jack. I'll bear this in mind when I speak to them.

Good day fellow Bpers, I need your help.

April 2019, my daughter asked me to guarantor an apt for her senior college year in Fayetteville, Arkansas. After asking her to show me the cost savings of doing so I decided ok.

Apt was being offered for $499 deal for 12 months. No payment due until prior to move in Aug 2019.

I then asked my daughter if they had a 10 month contract. They did, but this attracted a $25 monthly fee to facilitate. We agreed this would be fine.

Fast forward to now Aug 2019. She got an invoice for:-

$590 monthly (not $499 deal rate as agreed)

$25 fee for 10 month rental

So $615 monthly recurring rent

Spoke with their office and was told this is the policy as the deal was only offered for the 12 month period. My daughter again called them, after which they pretty much told her the person initially who sent us documents and spoke to us made an error and should have pointed out that the 10 month lease would attract the regular rental rate.

I feel strongly they should take some responsibility and meet us halfway especially as they have also said they can't revert back to the $499/mth for 12 months as the special has gone.

Bear in mind this 10 month would also be from Aug 19, 2019 to May 31, 2020. Meaning we are being charged for the full month of August.

School starts Aug 26.

Am I wrong for feeling taken advantage of? Yes I went through the initial agreement but after reviewing the lease itself and clarifying a few points I deferred to my daughter as ultimately it's her lease.

I would appreciate some constructive criticisms and points for discussion. Tomorrow I am calling again to hopefully speak with someone in authority.

Price difference

$499 x 12 =$5, 988 vs $615 x 10 = 6,150

So while it's only $162 it's the principle I have an issue with.

Also should we pay full rent for August?

Sorry for the long post, just asking for future college costs if any.

@David Wright, @Raymond J. Rodrigues, @Nicholas Covington

Update

I have gotten a conventional preapproval for 7.2% with 20% down-payment.

@Chris Mason

Now I know why you never responded, seems I didn't tag u right. Lol.

I have used Cozy on and off and found it useful. One of the benefits I liked was it helped tenants who are trying to rebuild their credit as they can have their payment history reported.

This has become a Cozy experience forum, but I do hope @ Carolyn was able to get her matter resolved.

So for a small investor starting out, what other affordable rent collection systems are out there that benefits both Landlords and tenants?