RA- 1 Tax Credit: “Residential Rental Agreement”



RA- TAA “APARTMENT LEASE CONTRACT” – TEXAS

The Lubbock Apartment Association’s “Apartment Lease Contract” must be used for all conventionally financed, HUD 221-D4 and non-subsidized Housing Credit properties. Every new resident must sign this Apartment Lease Contract on or before the effective date of the move-in; and before the apartment keys are issued. This “Apartment Lease Contract” must also be used when renewing a resident’s occupancy and lease term.

General Requirements:

1. NEVER use whiteout on the Lease Contract, amendments, addenda, riders, etc.

2. If you MUST make a correction, draw a line through the error, record the corrections/changes, and require that ALL signers of the contract initial the changes.

3. No more than three (3) corrections per Lease Contract will be permitted. If it is necessary to make more than three (3) corrections, you must do a new lease.

4. ALWAYS explain the terms and conditions of the Lease Contract to the resident(s) at or before the move in.

5. Give a copy of the completed Lease Contract and all attachments to each resident who has signed the lease.

6. Fax or send a copy of the completed Lease Contract to the Occupancy Specialist for approval.

7. NEVER give the apartment keys to the resident(s) until the Apartment Lease Contract has been signed. NO EXCEPTIONS!

Complete the Apartment Lease Contract as follows:

Date of Lease Contract: (top of page one) The day on which the applicant(s) agree(s) to lease the unit or renew their lease for continued occupancy. Must be on or before the date the “term begins” and the date the lease is signed.

1. Parties: List ALL adult signers of the Lease Contract (head, co-head, spouse) separately. For example, John Doe, Jane Doe, Michael Corrleone – NOT Mr. & Mrs. John Doe or Jane & John Doe. Enter the owner as Monarch Properties, Inc. or Westmark Management Company, d.b.a. (doing business as), your property name.

Fill in the apartment number, property address, city, state and zip code.

2. Occupants: List the name(s) of ALL other occupants of the unit who will NOT sign the Lease Contract. i.e. children, adult children, foster children, live-in attendant, etc. Persons not listed here must not stay in the apartment for more than 7 consecutive days in any given month without prior written consent and no more than twice that many days in any one-month.

3. Lease Term:

Move-In:

• “Initial Term Beginning” date: the first day rent will be charged for the unit. The Lease Contract signature(s) must also be dated on or before this “Initial” date. Note: for Housing Credit properties, ALL income verifications must be dated within 90-days of the effective date of the lease.

• “Ending” date: ALL leases should end on the LAST day of a month. Which month will be specified by the length of term agreed upon by the resident(s) and the Owner/Agent. For example:

1. The ending date for a six-month lease is the last day of the sixth month after the beginning date month. For example, move-in date is 1/15/98, ending date will be 7/31/98. Note: Six months is the minimum lease term for Housing Credit properties.

2. The ending date for a twelve-month lease is the last day of the eleventh month after the beginning date month. For example, move in date is 1/15/98, ending date will be 12/31/98. Note: Twelve months is the maximum lease term for Housing Credit properties because they must follow the HUD guidelines for annual recertifications.

3. The ending date for a month-to-month lease is the last day of the first full calendar month. It will then continue on a month-to-month basis. (Refer to paragraph 3 of the Apartment Lease Contract for reference.) NOTE: Your Property Supervisor MUST approve month-to-month leases on new move-ins.

Renewal:

Lease renewals can be “month-to-month”, “six-month”, or “twelve-month. NOTE: The lease term ending date for Housing Credit properties must be on or before the next annual recertification is due. i.e. Move-in 2/15/99 on a six-month lease ending August 31, 1999; lease renewed effective 9/1/99; lease ending date would be 1/31/2000. This household would be a 2/1/2000 recertification based on the original move-in date.

4. Security Deposit: Fill in the appropriate amount – see “Security Deposit Policy” to find the correct amount for your property per unit size. Also check the appropriate box regarding pets. You must include the pet deposit of $200 (if applicable) in the total.

5. Keys and Furniture: List the number and type of keys, as appropriate, that are given to the resident(s). Remember that keys are NEVER given out until the lease is signed. Check the box “furnished” or “unfurnished” as applicable.

6. Rent and Charges: Enter the full undiscounted scheduled rent for the unit size. Check the box that rent shall be paid at the on-site Manager’s office. If applicable, also enter the amount of prorated rent and indicate the month it applies to. For any discounted rent use form “RA-21” which must be approved and signed by your Property Supervisor. Complete the balance of the paragraph as follows: “If you don’t pay all rent on or before the 5th day of the month and we haven’t given notice to vacate before that date, you’ll pay an initial late charge of $25 plus a late charge of $ N/A per day, etc.” “You’ll also pay a charge of $25 for each returned check, plus initial and daily late charges from due date until we receive acceptable payment. etc.” ”If you violate the animal restrictions of paragraph 27 or other animal rules, you’ll pay an initial charge of $75 per animal (not to exceed $100 per animal) and a daily charge of $5 per animal (not to exceed $10 per day per animal) from the date the animal was brought into your apartment until it was finally removed.” The Property Manager has NO authority to waive or reduce any of the above listed fees or charges.

7. Utilities: Check the box(es) indicating the utility(ies) the Owner will pay.

8. Insurance: Complete as indicated.

9. Your Security Rights: Complete as appropriate.

10. Special Provisions: Write in as follows: “All addenda to this lease are agreed upon with all parties and are considered part of this Lease Contract.”

11. Reletting Charge: The reletting charge is not a cancellation or buyout fee and does not release the resident from their obligations under this Lease Contract. The reletting charge amount is 85% of the highest monthly rent (full undiscounted scheduled rent) during the Lease Contract term. The Property Manager has NO authority to waive this charge.

43. Signatures, Copies and Attachments: All adults who sign the Lease Contract should receive a copy of the lease and all appropriate addenda. Check the box (es) that apply to the addenda relevant to your property. Be sure that ALL appropriate adults sign the lease (see Paragraph 1. Parties). Remember that the Lease Contract CANNOT be signed after the effective “term beginning date”. The Owner/Owner’s agent must sign to validate the contract. Under “Address and phone number of owner’s representative for notice purposes” write in; "see attached form RA-20-Owner Disclosure and Resident Grievance Procedure”. This form tells the resident(s) the name, address and telephone number of the person authorized to manage the property and act on the Owner’s behalf. It also explains how to file a grievance. The “Date form is filled out” must be the same as the “Date of Lease Contract” at the top of page one.

Co-Signers (Guarantors): In cases where it is necessary for a resident or residents to have a co-signer or guarantor of their Lease Contract, be sure to follow the Manager’s Handbook Policy when applying this paragraph. Ensure that the proper forms, signatures and dates are included.

Designation of Agent and Alternative Address: The resident needs to supply the name, address and telephone number of the person or person who can act on their behalf as stipulated in the Lease Contract.

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