A resident who has lived at your community for 2 years, comes into your office and wants to transfer from their current apartment, a 2 bedroom to a 3 bedroom. The resident is in the middle of a lease term. They want to know if they can transfer to another apartment, how much it will cost, and what steps do they need to follow in order to transfer. What do you do? Do you just tell the resident “Yes, no problem, you can transfer.”?
The purpose of this section is to ensure that proper steps are followed when a resident wishes to transfer to another apartment either during their lease term or when their lease term ends.
Transferring at a Conventional Community
How a resident qualifies to transfer to a new apartment
Advise your resident that prior to giving permission to transfer, you will need to inspect their apartment. Inform your resident that residents who are currently in “good standing” will be allowed to transfer. Residents with any amounts owing, or any lease violations may not qualify to transfer.
Transferring during a lease contract
Check your resident’s current Rental Agreement. If the resident is currently under a lease contract, they have two options:
- The resident can transfer when their current lease expires. Thirty days prior to their lease expiration, they will complete a Resident’s Notice to Vacate.
- The resident can transfer during a lease contract, but they will be required to complete a Resident’s Notice to Vacate and pay a lease buy-out as stated on the Rental Agreement.
The application and screening
Provide the residents who are interested in transferring apartments with the property specific Criteria for Residency. Have the residents complete a Rental Application. Discuss with your Property Supervisor regarding charging the screening fee. When the resident’s application has been approved, they will pay a deposit (based on the recommendation by the screening agency) for the new apartment and sign an Agreement to Execute a Rental Agreement. If applicable, a new Pet Deposit will be required to be paid.
Advise the resident that deposits cannot be transferred. Follow the steps listed in the Yardi Manual to set up the resident as an applicant for their new apartment.
When the resident moves out and moves in
When the resident moves out of their “old” apartment, all move-out procedures must be completed. Refer to the AMSI PowerSite Manual and follow the instructions on how to complete a move-out and Security Deposit Allocation. When the resident moves into their “new” apartment, a new Rental Agreement as well as all other addenda must be signed. Refer to the AMSI PowerSite Manual and follow the instructions on how to complete a move-in.
NOTE: Transfers are considered a “move-out, move-in” at a conventional community.
Transferring at an Affordable Housing Community
Tax Credit and Rural Development./Tax Credit properties must first follow all compliance regulations. Most important, any transfers on a Tax Credit or Rural Development/Tax Credit property must be approved by the Property Supervisor.
How a resident qualifies to transfer to a new apartment
Your resident must have completed 6 full months or more of occupancy before a transfer is permitted –and– the resident must also income qualify as a new move-in. Advise your resident that prior to giving permission to transfer, you will need to inspect their apartment. Inform you resident that residents who are currently in “good standing” will be allowed to transfer. Any residents with any amounts owing, or any lease violations may not qualify to transfer.
Transferring during a lease contract
Check your resident’s current Rental Agreement. There are some important issues to consider:
- If the resident is not currently under their initial lease term, and they wish to transfer, they can do so at the end of the lease term. Thirty days prior to their lease expiration, they would complete a Resident’s Notice to Vacate.
- If the resident is not currently under their initial lease term, they can transfer during a lease contract, but they would be required to complete a Resident’s Notice to Vacate and pay a lease buy-out as stated on the Rental Agreement.
- Lease Buy-Out during the first term after 6 months will be the remainder of the lease or until occupied by another household
- Lease Buy-Out on subsequent leases, the lease buy-out fee will apply as outlined on the rental agreement.
- Lease Buy-Outs don’t apply at RD Properties
The application and screening
Provide the residents who are interested in transferring apartments with the property specific Criteria for Residency. Have the residents complete a Rental Application, as well as all other pertinent Tax Credit paperwork. Discuss with your Property Supervisor regarding charging the screening fee. When the resident’s application has been approved, residents at a Tax Credit property will have their deposit and if applicable, pet deposit transferred if the move-in is within the same building. Any cleaning/damages charges on the “old” apartment will require to be paid within 15 days of receipt of the SODA (Statement of Deposit Accounting).
Residents at a Tax Credit property who are “transferring” to an apartment in another building must pay a new deposit (based on the recommendation of the screening agency) and if applicable, a new pet deposit. Follow the steps in the AMSI PowerSite Manual to set-up the resident as an applicant for their new apartment.
When the resident moves out and moves in
If the resident moves to an apartment in another building, all move-out procedures must be completed. Refer to the AMSI PowerSite Manual and follow the instructions on how to complete a move-out and Security Deposit Allocation.
If the resident moves to an apartment within the same building, remember, you will need to transfer the deposit to the “new” apartment. Therefore, if there are any damage/cleaning charges for the “old” apartment, charge the items during the SODA function.
Just remember that there will not be a deposit to apply to any charges as it will have been “moved” to the new apartment. When the resident moves into their “new “ apartment, a new Rental Agreement as well as other addenda must be signed. Refer to the AMSI PowerSite Manual and follow the instructions on how to complete a move-in.
NOTE: There may be an exception made for a transfer due to a request for a reasonable accommodation.