This page provides important information concerning the rental of a condo. If you are truly interested in renting at North Village Condos you should act quickly as units fill up fast!! Please review the information and download, complete and return necessary information to be considered for a unit for the next academic year or summer! GOOD LUCK
Condo Rental 101
How To Reserve A Condo For The School Year
CONDO RENTAL 101 – EVERYTHING YOU NEED TO KNOW!
Background: We are a private landlord that owns the property for rent. URI leased the entire complex from us for 10 years, ending in June 2008. We do not lease directly to URI any longer, but we do lease units directly to students (in groups of 3 or 4 students) with parents as notarized co-signers.
RESERVING A UNIT: HOW IT WORKS
If you really want to live in North Village Condos follow the steps below, you should act quickly as units fill up quickly.
Reservations will be confirmed and held only when all the following steps are complete. And remember, complete means your entire group needs to have all items complete to be considered for unit assignment.
- Groups of students (3-4) apply to live in North Village Condos.
- Each student in the group is responsible for filling out a rental application. References are important… no family, friends, co-workers or neighbors should be references. Use teachers, employers (past and present), academic advisors, your RA, landlords, etc.
- Each student must confirm with their parents that their parents are okay with them living in a condo with the roommates selected. Management must receive an email from each student’s parent confirming the following:
- Parents are aware their student would like to live in North Village Condos.
- Parents must list the roommates that their student will be living with.
- Parents have reviewed the website, including rental application, lease, and payment schedule.
- Once management has received an email from each of the parents in the group the application will be considered as complete. At that time management will start the evaluation process to select tenants for available units in the complex.
- Once management has received an email from each of the parents in the group the application will be considered as complete. At that time management will start the evaluation process to select tenants for available units in the complex.
- If your group is selected to live in the complex then it is time to sign a lease. Each occupant must sign a lease and have their parent co-sign, with a notarized signature. If all occupants of the group have not completed this within one week the reservation will expire, and the unit will go to the next group on the waiting list.
- Once leases have been signed and deposits received by all occupants, a unit is officially reserved for next academic year! Please make checks payable to Fortin Place, LLC.
- Unit assignment will take place in early August. At that time, we will have exact move in dates available for you. You will also be able to contact the necessary utility providers to put service in your names. There is no need to worry which unit you will get as they are all identical in size and amenities.
- We are looking forward to meeting with you on move-in day to answer any questions you may have and to review the unit with you to make sure it is left in the same condition when you move at the end of your lease term.
STUDENT RENTAL RATES AND TERMS
| STUDENTS / UNIT | TERM | RATE / TERM |
|---|---|---|
| 3 | Academic Year | $14,940 per student |
| 4 | Academic Year | $12,000 per student |
| 1, 2, 3 or 4 | Summer 2024 | See Condo Rental 102 |
| Each | Security Deposit | $1,200.00 per student |
PAYMENT SCHEDULE
| Due Date | Amount Due | Notes |
|---|---|---|
| Lease Signing | $1,200 | Applied as Security Deposit. Forfeited if you back out for any reason. |
| Latter Of: Feb 1, 2024 or Lease Signing | First Third | All in group must be paid by this date to hold the unit for next year. If not then the unit is made available to the next group on the waiting list. |
| Aug 11, 2024 | Second Third | All in group must be paid by this date to obtain keys at move-in. There will be no exceptions. |
| Dec 1, 2024 | Final Third | Final Payment…Good luck on exams! |
TIMING – WHEN IS THE BEST TIME TO APPLY?
Prospective tenants and their parents often ask us how long it takes to go through the rental process. We tell them it is entirely up to them how quickly things move along. Simply stated, the ball is in their court. We will not chase groups down looking for the information we need to make a rental decision. We evaluate completed applications when they are submitted to us. This means all the information from all members of the group is in our hands. Once we have all the information from all members of the group we can usually have an acceptance or denial in about one week. Once a group is accepted it takes about one more week to sign the lease and collect payments that are due. At that point the unit is officially reserved for the lease term.
Prospective tenants will also ask how long they have to get all the information to us. We tell everyone…”Zach is an engineer, not a sales guy…so move at your own pace. If you want to move slowly that is fine, just be aware that we fill up very quickly as we offer a great place to live that is so close to campus!” We suggest if they are truly interested they act as quickly as possible. If they decide to take it slowly we tell them they will likely end up on the waiting list.
Thanks for your attention.
This concludes today’s class in Condo Rental 101!
Condo Rental 102
How To Reserve A Condo For The Summer
CONDO RENTAL 102 – EVERYTHING YOU NEED TO KNOW!
Background: Summer is an excellent time for learning at URI. Taking summer classes at URI is a terrific way for a student to get ahead or simply catch up with course requirements. The condos we are offering for rent are conveniently located at the top of campus, only a short walk to the Quad. And, just like our academic year rentals, we look for students that will be respectful of the property and their neighbors. We lease units directly to students (in groups of 1, 2, 3 or 4 students) with parents as notarized co-signers. The rental term for this summer will be May 18, 2024 – August 10, 2024.
RESERVING A UNIT: HOW IT WORKS
If you really want to live in North Village Condos during the summer, follow the steps below. You should act soon as units fill up quickly. Reservations will be confirmed and held only when all the following steps are complete. And remember, “complete” means your entire group needs to have all items complete to be considered for unit assignment.
- Groups of students (1, 2, 3 or 4) apply to live in North Village Condos.
- Each student in the group is responsible for filling out a rental application. References are important… no family, friends, co-workers or neighbors should be references. Use teachers, employers (past and present), academic advisors, your RA, landlords, etc.
- Each student must confirm with their parents that their parents are okay with them living in a condo with the roommates selected. Management must receive an email from each student’s parent confirming the following:
- Parents are aware their student would like to live in North Village Condos.
- Parents must list the roommates that their student will be living with.
- Parents have reviewed the website, including rental application, lease, and payment schedule.
- Once management has received an email from each of the parents in the group the application will be considered as complete. At that time management will start the evaluation process to select tenants for available units in the complex.
- Once management has received an email from each of the parents in the group the application will be considered as complete. At that time management will start the evaluation process to select tenants for available units in the complex.
- If your group is selected to live in the complex then it is time to sign a lease. Each occupant must sign a lease and have their parent co-sign, with a notarized signature. If all occupants of the group have not completed this within one week the reservation will expire, and the unit will go to the next group on the waiting list.
- Once leases have been signed and deposits received from all occupants, a unit is officially reserved for the summer term listed on the lease! Please make checks payable to Fortin Place, LLC.
- Unit assignment will take place in early May. At that time, we will supply you with a list of the local utility providers so you can put service in your names. There is no need to worry which unit you will get as they are all identical in size and amenities.
- We are looking forward to meeting with you on move-in day to answer any questions you may have and to review the unit with you to make sure it is left in the same condition when you move at the end of your lease term.
SUMMER RENTAL RATES AND TERMS
| STUDENTS / UNIT | TERM | RATE / TERM |
|---|---|---|
| 2 | May 18 – Aug 10 | $3,500 / summer / person |
| 3 | May 18 – Aug 10 | $2,430 / summer / person |
| 4 | May 18 – Aug 10 | $1,950 / summer / person |
| Each | Security Deposit | $750.00 per student |
PAYMENT SCHEDULE
| Due Date | Amount Due | Notes |
|---|---|---|
| Lease Signing | $750.00 | Applied as Security Deposit. Forfeited if you back out for any reason. |
| Lease Signing | First Half | All in the group must be paid by this date to obtain keys at move-in. There will be no exceptions. |
| June 15, 2024 | Second Half | Final Payment…Enjoy the rest of the summer! |
TIMING – WHEN IS THE BEST TIME TO APPLY?
Prospective tenants and their parents often ask us how long it takes to go through the rental process. We tell them it is entirely up to them how quickly things move along. Simply stated, the ball is in their court. We will not chase groups down looking for the information we need to make a rental decision. We evaluate completed applications when they are submitted to us. This means all the information from all members of the group is in our hands. Once we have all the information from all members of the group we can usually have an acceptance or denial in about one week. Once a group is accepted it takes about one more week to sign the lease and collect payments that are due. At that point the unit is officially reserved for the lease term.
Prospective tenants will also ask how long they have to get all the information to us. We tell everyone…”Zach is an engineer, not a sales guy…so move at your own pace. If you want to move slowly that is fine, just be aware that we fill up very quickly as we offer a great place to live that is so close to campus!” We suggest if they are truly interested they act as quickly as possible. If they decide to take it slowly we tell them they will likely end up on the waiting list.