Campus Housing Environment
The Campus Housing Environment
Anyone reading this page probably realizes that the University of Michigan / Ann Arbor rental market is very competitive and fast paced. Recent local ordinances severely restrict our ability to help students at the times they have historically chosen to shop for next year's housing. People who will be new to the campus community should know that large numbers of students begin to shop beginning in mid October and through the time that students leave for spring break at the end of February. The house and apartment shopping that goes on during this period is for leases that will start just before the next academic year begins. Please contact us if you have any questions about how to secure housing for the next academic year. We have about 225 student oriented houses and apartments within 10 blocks of campus. They range from efficiency apartments to six bedroom houses.
Important things to understand before securing a house or apartment
Before you complete any document that binds you to one of our properties you should understand how it commits you.
Understand the timing of payments and how they will be applied to various charges like the security deposit, first month's rent and the cleaning fee.
Understand that the current resident might possess the right to keep the apartment for another year.
Understand that the timing of your signature on a lease is very important
Understand that you may need to communicate information about desired bedroom furniture if your apartment includes bedroom furniture.
Understand that the lease will be "joint and several" and what that means for you and your roommates.
Understand whether or not a "financial co-guarantor" will be required.
Understand that no hold-over occupancy is allowed at the end of the lease.
Understand the parking situation at the property you desire and be sure that suits your needs.
Understand the laundry situation at the property you desire and be sure that will work for you.
Understand that there will be no verbal promises between us. It is reasonable that both parties confine their agreement to what is written.
Understand which utilities are your responsibility to pay and which ones are included in the rental payment.
Understand the nature of an "installment lease".
Understand the lease dates and how they affect you. Our leases for the next academic year begin at noon on Saturday, August 24, 2024 and run until 11:59 PM on Friday, August 8, 2025 at 11:59 pm. We are able to move a very limited number of units in early each year. These Early Move-Ins are available for a fee. The early move-ins are limited to two pre-determined days in late August. Prices vary depending on the size of the unit and the move-in date. Please see the table below for prices and date.
No holdover occupancy is allowed. We are unable to grant any extensions to leases. The last day of the lease is the last day of the lease without exception. We are on a very tight timetable to turn over our units each year and need every day we've contracted for to accomplish our painting, cleaning and maintenance.
Financial Details
2024-2025 Lease Year - Payment Due Dates
Payments - Calculation of Amounts:
| Total Security Deposit | 1.5 times the installment |
| Portion of Security Deposit Typically Due at Application | 1/3 of the total Security Deposit. Nonrefundable if the lease is not executed. |
| Balance of Security Deposit Typically Due at Lease Signing | 2/3 of the total Security Deposit |
| Cleaning Fee Typically Due at Lease Signing | Defendant on the size of the unit, see table below |
| First month's rent due | Typically due one month after the lease signing. |
| October 2024 Rent | Due October 1, 2024. Note that prepaying your Sept. 2024 installment means that no installment is due on move-in day. |
2024-2025 Cleaning Fee Schedule
| Number of Bedrooms | Cleaning Fee |
| Efficiency | $185.00 |
| One Bedroom | $200.00 |
| Two Bedrooms | $295.00 |
| Three Bedrooms | $365.00 |
| Four Bedrooms | $395.00 |
| Five Bedrooms | $475.00 |
| Six or more Bedrooms | $500.00 |
2024-2025 Early Move-In Fee Schedule
| Number of Bedrooms | Monday, 8/19/24 | Thursday, 8/22/24 |
| Efficiency | $450 | $350 |
| 1BR | $500 | $400 |
| 2BR | $650 | $450 |
| 3BR | $1,000 | $600 |
| 4BR | $1,325 | $800 |
| 5BR | $1,850 | $1,100 |
| 6BR | $2,100 | $1,300 |
Lease Signing
We use EchoSign for lease execution via the internet. You must execute your lease digitally within 72 hours of receiving the Echosign e-mail indicating that the lease is ready for signature. Failure to sign within this time frame can result in the rental of the house or apartment to another group. Read your contract to know when the balance of your security deposit and cleaning fee are due. Echosign also processes Financial Co-guarantors signatures where those are required. Once every resident and every required financial co-guarantor has digitally signed the lease EchoSign will automatically provide each party with an executed copy of the lease document.
Move-In Day
Your lease will begin at noon on Saturday August 24, 2024 unless you have purchased and signed a Early Move-In agreement from Campus Management, Inc. We will begin moving people in at 10:00 AM. Move-in Day is our busiest day of the year. The earlier you come the more likely you are to have to wait to meet with one of our move-in representatives. The typical wait is less than 10 minutes. You must come to our office to pick-up keys. At move-in we will meet for about 5 minutes to complete a short move-in process with you. In addition to keys, you will be given a move-in packet with important information concerning your new home. We will review parking (if provided), utilities, maintenance and other related topics. Plan a list of any move-in questions you wish to ask us. We look forward to a smooth move-in and to serving your needs beyond move-in day.
Several very important notes:
- Weather permitting key pickup/move-in will happen in the parking lot behind our offices
- First Month’s Rent must be paid in full or keys will not be released.
- IF YOU FAIL TO PICK UP KEYS FOR YOUR UNIT BY THE TIME WE CLOSE ON MOVE-IN DAY YOU WILL NOT BE ABLE TO MOVE-IN UNTIL THE NEXT BUSINESS DAY - MAKE AND STICK TO A SCHEDULE THAT GETS YOU INTO OUR OFFICES BY 5:00 PM ON MOVE-IN DAY!
