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  6. Student Housing Q: Already signed next year lease, but concerned about the economy. Should we release them?
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Student Housing Q: Already signed next year lease, but concerned about the economy. Should we release them?
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Reply: Student Housing Q: Already signed next year lease, but concerned about the economy. Should we release them?

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Ken Koziol's Avatar
Ken Koziol
Schools are talking about the potential for all-online classes in the fall. If this happens, why would someone relocate back to their college town? This presents a very difficult situation for sure.
Posted 3 years 11 months ago
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Mallory A Bailey
Leah Love Orsbon oh I bet. Its a catch 22 in her situation. If I'm held accountable I would wait it out and see closer to notice date. She may need that apt and will it with a swiftness out here. LSU stays over populated with the need for student housing even with all of our new developments.
Thanks for sharing.
Posted 3 years 11 months ago
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Leah Love Orsbon
Mallory, yeah, in student, if we allowed people to cancel before their leases started, we’d never be full. It would be a constant mess.
Posted 3 years 11 months ago
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Mallory A Bailey
Leah Love Orsbon our collections company will accept an acceleration, im speaking in the matter of it being disputed. Unfortunately, this is something we do not practice. We handle all current leases this way but not leases that have not begun.
Posted 3 years 11 months ago
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Mallory A Bailey
Katrina Spisak Avila for ur company maybe so. Where I work and companies previously this is never a practice we uphold. Once again it could be a student community thing, I know you all prelease way in advance. Sadly I am not incorrect, if I work with your community will practice their policies.
Posted 3 years 11 months ago
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Leah Love Orsbon
Mallory, everyone (in all states) are responsible for their rent until it is re-rented. If your collection agency won’t accept acceleration, just keep it charged monthly and keep it internal. It’s not as big of a deal in Multifamily because you can rent it next month. We can’t rent it again for another year.
Their deposit can be put towards their rent in some states (not Wisconsin).
Posted 3 years 11 months ago
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Student Housing Q: Already signed next year lease, but concerned about the economy. Should we release them?
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