Leasing from a Current CTY Resident
On occasion students inquire about the difference between “Subletting” and “Re-leasing” their apartment. Hopefully this information will shed light on the difference between the two and why we only do Re-leasing at The Courtyards.
Re-Leasing For The 2019-2020 Lease Year
On occasion students inquire about the difference between “Subletting” and “Re-leasing” their apartment. Hopefully this information will shed light on the difference between the two and why we only do Re-leasing at The Courtyards at UMD.
Subletting means that you being allowed by someone to use their apartment that they are renting for a period of time in return for payment. When subletting the lease holder is still financially responsible for the apartment and any damages that might occur even though someone else is living there. Please review the section on “Illegal Re-leasing” for more information on this process. Subletting is not permitted at The Courtyards at UMD.
Re-leasing is the official process of transferring financial responsibility for a Courtyards lease to another eligible student prior to the lease end date in July. Any students who study abroad, graduate, withdraw from UMD, or need to leave due to financial constraints, must use this process. Once and apartment is re-leased, the lease is formally ended for the original resident, which means that they will no longer have access to that space and community services and they are released from the financial obligation. The re-lessor is then fully financially responsible and receives full rights of access to the space and corresponding services.
This formal process, which is completed through The Courtyards at UMD Main Office, is necessary in order to protect the original leaseholder and the incoming resident. Therefore, the process outlined below must be followed for a re-lease to occur.
Re-Leasing vs. Subletting
Re-Leasing is the official process of transferring financial responsibility of a Courtyards lease from the current lease holder to another eligible student prior to the lease end date of July 30.
When you re-lease an apartment, you are accepting the apartment as it is left by the departing resident. There will be no cleaning or fixing done to the apartment. Cleanings are available by a third party vendor by request and cost $65 to have your bedroom and bathroom cleaned. Financial responsibility begins on the 1st day of the first full month you reside in the apartment.
Subletting is when a person rents an apartment directly from a resident without management’s knowledge or approval. This is strictly prohibited at The Courtyards. According to management and per the lease, the person whose name remains on the lease is financially responsible for the apartment and any damages that might occur. Only the leaseholder will be granted access to resident services.
Finding An Apartment To Re-Lease
The Process Of Re-Leasing
The following information is designed to help you navigate the re-leasing process, through which you can receive transfer of a lease from a current resident.
- Step 1: Lease Holder finds a Re-lessor (an eligible student who is interested in taking over your lease). It is the Lease Holder’s exclusive responsibility to find a Re-lessor.
- Step 2: The Re-lessor must complete a Commons/Courtyards Leasing Application in order to be able to complete the Commons/Courtyards Re-leasing Form.
- Step 3: The Lease Holder and Re-lessor must each submit the Commons/Courtyards Releasing Form in the StarRez Portal. After the re-lessor is approved, the Lease Holder will be able to access the appointment scheduler via the Commons/Courtyards Re-leasing Form to schedule a re-leasing appointment.
- Step 4: The Lease Holder and Re-lessor attend the re-leasing appointment and complete their re-leasing paperwork.Note: There is a 2 business day cancellation period on any newly signed lease. If a re-lessor exercises their right to cancel their lease, financial responsibility will return to the original lease holder.
Schedule A Re-Leasing Appointment
Re-Leasing appointments are available between the 4th and the 20th of each month (except February, March and August when there is a re-leasing freeze). Failure to complete an appointment by the 20th will result in the current lease holder retaining financial responsibility for the following month and delay your move in.
- Your $100 lease transfer fee. This must be paid in certified funds*. Personal checks and cash are NOT accepted.
- You must have a zero balance.
- If your transfer fee and balance are not paid at least 2 business days prior to your leasing appointment, they must be paid at the appointment in certified funds.
- Installment payments are due on the first of each month. The person in possession of the lease on the 1st of the month is responsible for the installment payment. Installments are not prorated and The Courtyards at UMD will not issue refunds for installments owed prior to the lease transfer. Any exchange of money relating to partial installment payments or personal refunds is solely between the leaseholder and the re-lessor.
*Certified Funds are available from a teller at your financial institution in the form of a cashier’s check. Money orders are available at 7-Eleven, CVS, The United States Post Office, Giant, and other retail locations.
- $25 application fee. Check or money order made payable to “The Courtyards”
- $300 lease reservation (applied toward first installment payment). Check or money order made payable to “The Courtyards”
- Social Security Number. While your card is not required, you must be able to provide your SSN.
- Completed Guarantor Form