We give our current tenants the first opportunity to re-rent their houses or apartments. Please look for our mailing with re-renting information for our current tenants. This information will include the rent for 2019-2020 and the discount rate for our currrent tenants.
Lease Renewal Deadline
As per your lease, Residents who wish to renew their leases for another year must re-sign by Wednesday, September 19th, 2018. If you haven't resigned by Wednesday, September 19th, we will be forced to offer the property to the first group on the waiting list, so be sure to re-sign by that day in order to keep your propery for another year.
Remember, properties cannot be "passed" or "handed" down; everyone must go through the same process. Properties are leased on a first come, first served basis. If you have friends or siblings who are interested in living in your house or apartment next year, the best way for you to help them is to tell them to contact the CBS Office immediately to find out about our leasing process.
Lease Renewal Agreement
When one or more of the Residents renew the lease, CBS Rentals LLC considers this a Lease Renewal. If one or more of your roommates decide not to re-sign for another year, your group must complete a Lease Renewal Agreement. All current tenants and future tenants must sign a Renewal Agreement before CBS will renew a lease. The Agreement outlines the following conditions:
The Current Tenants and the Future Tenants agree to work out between themselves the exchange of individual security deposits. CBS will not refund individual security deposits to those tenants who will not be living in the property the following year. CBS Rentals LLC is not responsible for "working out the details" of security deposit exchange and will not assist tenants in the collection of these monies. This is solely the responsibility of the current and future tenants.
CBS does not inspect the premises for damages or clean/refurbish the premises before the "new" tenants move-in. The Move-in Inspection (Condition Report) on file will be used to determine any damages at the time the second lease term expires. Any balance due at the end of the first lease term carries over to the next lease term and all Residents listed on the new lease are responsible for the balance.
If any of these conditions are violated, the tenants will be required to vacate the premises at the end of the lease term days and all CBS Move-Out policies, as stated in the lease, will apply.
*Renewal Agreements must be obtained from the CBS Office.
All Residents will be required to complete an updated Student Lease Application. There is a $35 (thirty-five dollar) non-refundable fee for each form. Current tenants are exempt from the processing fee. Please bring your Student I.D.
If one or more of your current roommates is not re-signing, you must bring a signed Renewal Agreement with you. The Renewal Agreement must be signed by ALL Current Tenants and Future Tenants. CBS will not renew a lease without this signed form. If all Current tenants are resigning, they are not required to sign a Renewal Agreement.
CBS Rentals strongly advises all prospective tenants (including past and present) to carefully read the entire lease before signing. The lease for 2019-2020 does contain changes of which all Residents need to be aware. If your parents or others wish to review the lease before you sign, there is a Sample Lease on our website for their convenience. Please be prepared to discuss any questions you have at your lease signing appointment.
We prefer that all members of a group come to sign at the same time. We realize, however, that this is not always feasible. We will make other arrangements to accommodate you, if necessary. We do require that at least two members of a group come to sign together so that one person isn't "stuck" with his or her name solely on a lease. If your group is signing at different times, please be aware that we will be collecting the entire damage deposit amount at lease signing.
We hope this information has helped to clarify the Lease Renewal Process. If you have any questions about re-renting your property, the lease, or anything else, please call CBS or drop by our office on 13th Street NW (behind The Graduate). We look forward to working with you!
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