Holmes Property ManagmentProperty Management and Student Housing

Lease Terms

Lease Terms and FeesPen

Most of our properties have similar Lease Terms and Fees which are typical for student housing.

Our standard lease terms are:

  • 12 month lease term from August 1 through July 31
  • Parent Guarantee form to secure payments
  • Guests pay for all utilities unless noted
  • Multi-Tenant form if more than one Guest
  • Down Payment is First Month’s Rent + Deposit + AppFee + Insurance
  • Application fee is $50 per person due with lease signing
  • Move Out fee is $100 per person deducted from security deposit at end of lease
  • Liability Insurance Required with your own Renters Insurance policy or our $10 per month program (see Tenant Liability Program)
  • Maximum Occupancy is One Person per bedroom without an extra charge

If pets are allowed, a Pet Addendum notes additional Pet App, Rent, Deposit or Cleaning Fees.

Most units are individually owned Condominiums subject to Homeowner Association (HOA) rules and regulations.   Exterior common area amenities such as pool, elevator, laundry, gate, internet, parking lot are for shared guest use on an “as is” basis and may not be available at all times at HOA discretion.   Condo Owners do not own or control exterior HOA amenities and such items are specifically excluded in the lease.

Short term or mid-year leases less than 12 months may be available at higher monthly rates in a very limited number of units at the end of the season (other restrictions may apply).

Please ask in advance about Special Circumstances so we all have a clear written understanding at lease signing.   Lease terms cannot be changed but can be clarified in writing as needed.

Our leases are detailed and clear so we encourage Applicants to read each page carefully and ask lots of questions up front!

Applicants need to meet and communicate personally with us to establish a good working relationship and clear understanding of what is expected.   Sorry we cannot complete the leasing process solely with third party parents or guarantors.   Third party questions, comments or requests should be made through the Guest so no misunderstandings. 

Please note Parents and Guarantors are not signatories to the lease and do not receive duplicate notices, emails, texts or other communications sent to the Guest.   We are glad for Parents or other interested third parties to advise Guests or make rental payments but Guest is responsible for fulfilling all obligations and must personally stay in contact with us.  

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