How to Reserve and Rent an Apartment
If you have a group and know exactly which Apartment you want, (acting as an individual or as a member of a group), complete an APPLICATION for occupancy and e-mail it to us. To put an apartment on reserve so that it is not rented before you inspect and agree to rent it, you must send in a $600 Initial Reservation Deposit that is fully refundable according to the terms below.
*The $600.00 initial RESERVATION DEPOSIT, should be made payable to Dr. P. Perretta, and mailed to Belmont Realty, PO Box 46, Purchase, NY 10577.
*An apartment can be inspected without having an Application or a Reservation Deposit in place. In this case, there is no guarantee that it is not taken by others at any time. Only a Reservation Deposit prevents this from happening. Again, keep in mind that there is no cost or risk involved by having a reservation deposit in place, provided that the terms written below are respected.
*An inspection is arranged by calling our superintendent, Julio at (914) 804-5994 Monday – Saturday between the hours of 8:00 am and 1:00 pm.
*Special needs, rent rates, and any other concerns can be resolved by sending us an e-mail or the phone. You can also encourage your parents to do so if they desire.
*Once the members of a group have agreed to rent an apartment each of them, if he or she has not already done so, is required to send his/her own Application and $600 Reservation Deposit. The initial reservation deposit is normally credited to the account of the person who issued the check or paid the money in cash.
*When all Applications and Deposits are in, the LEASE IS WRITTEN and a copy is mailed to the home address of each member of the group for the parents to read.
The OFFICIAL COPY OF THE LEASE is usually signed by all members of the group at the office of our superintendent, (2493 Lorillard Place, 1st Floor), on a designated day or by appointment. A notice is sent to all members of the group.
What types of leases are available?
Depending on the location, three types of leases are available:
*Full Year Lease [FYL] – 355 days
*Academic Year Lease [AYL] – same length as for Fordham University dorms [not always available]
*Summer Lease [SUL] – Same length as Fordham University dorms
A FYL includes the entire Summer and is usually $500-$600.00 more expensive than an AYL. On a per month basis it is much cheaper to rent for the entire year with the option to sublet for the summer.
What happens if a member the group drops out while the Apartment is held on reserve?
*The lease you are offered has a subletting provision. You can sublet your space, provided you follow our basic rules. It is advised that you make arrangements with another student that will spend a semester abroad but need the apartment while you are away.
*The main rule is that the Sub-tenant must be an individual acceptable to your co-tenants and he/she must establish an account with us in the same way you did.
When is a Security Deposit refundable?
*Remittance of a security deposit implies that you and other members of group have agreed to rent a specific apartment, that this apartment has been removed from the rental market and that a lease is being or has been written. As such, the Security Deposit will serve as a collateral for that lease and is refundable as per terms of that lease.
A partial refund of the Security Deposit is granted by the landlord, at his discretion, in the following circumstances:
- If a written notice to cancel a lease already written or being written is received before 2/1. The refund will have a deduction of 50.00 per tenant included in the lease.
- If a written notice to cancel a lease already written or being written is received after 2/1 and before 3/1 . The refund will have a deduction of $125.00 per tenant included in the lease.
- If a written notice to cancel a lease already written or being written is received after 3/1, the refund, with a deduction of $125.00 per tenant, is granted if and only if the Apartment is rented to another group to prevent loss of income by Management.