2017-2018 Rental Rates

 

 

Layout Rate
2 Bedroom / 2 Bath Quad (double occupancy bedrooms) $682 per installment
4 Bedroom / 2 Bath $742 per installment
4 Bedroom / 4 Bath $812 per installment
2 Bedroom / 2 Bath Standard $903 per installment
2 Bedroom / 2 Bath Deluxe $934 per installment
Payment Structure

The following Rent Collection Policy is incorporated by reference and made a part to the Lease between Landlord and Tenant.

1. All monthly installments of base rent are due and payable as set forth by the lease on or before the first (1st) day of each month by cashier’s check, certified check, personal check, money order, credit card, or bank draft. Current residents ONLY are eligible to use electronic payments through the online Resident Portal. All electronic payments incur a service fee, however that fee is waived for bank draft payments.

2. It is the payee’s sole responsibility to ensure that all electronic payments are submitted without error and sufficient funds are available by the 10th of each month by 5:00 p.m. or else a late fee will be assessed to Tenant’s account.

3. Rental payments for The Courtyards shall be made payable to “The Courtyards” and mailed to The Courtyards , 8000 Boteler Lane, College Park, MD 20740 in time to be received by the 10th of the month or paid at the management office of the same address Monday through Friday during business hours. A 24 hour rent payment drop box is available in The Courtyards Clubhouse vestibule from September 1 through May 31.

4. Rent must be paid in full. Partial payments, incomplete (lacking amount, signature, Tenant’s first and last name, and Tenant’s unit) checks and postdated checks are not acceptable, and may be mailed back to the address of record for the Tenant. If such payment is submitted, the Tenant is responsible for any resultant late fees, NSF fees, and bank fees that may result. Please write your full name and the complete address of your Premises in the memo section of the check.

5. There will be a five percent (5%) late fee charged to Tenant’s rental account if any Monthly Installments of Base Rent is paid AFTER the tenth (10th) day of the month by 5:00 p.m. Late charges are considered to be and are collectable as additional rent. Late fees will apply despite weekends or holidays during which the management office is closed.

6. If any Monthly Installment of Base Rent is not paid in full by the first (1st) day of the month at 5:00 p.m., legal action may be taken to collect same and/or to recover possession of the Premises. The cost for all such actions will be charged to the Tenant’s account. Personal checks will not be accepted for payment once legal action has been filed. In such event, the balance must be paid by cashier’s check, certified check or money order only.

7. Checks will only be submitted to the issuing bank once for payment. If Tenant’s bank returns a check for non-sufficient funds (NSF), Tenant is required to repay the amount of the check and all additional charges immediately upon notification. All returned checks are charged a twenty-five dollar ($25.00) returned check fee, in addition to the five percent (5%) late charge (if repayment is received after the 10th day of the month). After two (2) NSF checks, personal checks may no longer be accepted from Tenant; only cashier’s checks, certified checks or money orders will be accepted.

8. Any rent not paid when due will be reasonable grounds for termination and/or non-renewal of lease.

9. Any balance left unpaid for thirty (30) days following the lease expiration date may be submitted to a collection agency. In such event, a collection expense of thirty (30) percent of the total amount remaining due will be added to the original balance.

Guarantor Responsibilities

The Landlord requires, as a condition of this lease, a binding Continuing Parental or Sponsor Guaranty (the “Guaranty”), which Guaranty constitutes inducement for the granting of this Lease by Landlord. Landlord reserves the right to cancel this Lease in the event such Guaranty is not fully completed and submitted to the leasing staff at the time of application. The Tenant understands that the Guaranty must be obtained directly from the parent or sponsor and that landlord reserves all rights both civil and criminal, for any false execution or forgery of the Guaranty. The Tenant and Guarantor acknowledge that this Lease is for an essential necessity of the Tenant, and that The Tenant and Guarantor shall be fully bound by all of the terms and conditions hereof irrespective of The Tenant’s age or legal status. The execution of the Guaranty constitutes an additional insurance to Landlord of the performance of the covenants of this lease and shall not be construed as a release of The Tenant’s responsibilities and obligations hereunder. Tenants may not include themselves or another UMD student as a Guarantor for the lease. Parents are not automatically considered a Guarantor for the lease, and therefor do not share the same right of access to information for said lease if they are not a Guarantor. Only financial information and information concerning damages will be shared with Guarantor without prior tenant approval.