The Texas Apartment Association released a revamped Student Housing Lease last month and debuted new related forms this week.
- The Texas Apartment Association’s revamped Student Housing Lease is streamlined to ensure that it is compatible with lease auto-generation and workflow, in addition to meeting the specific needs of this market segment.
- TAA also has created a Notice Regarding Exclusive Space that student housing operators can use to assign space to residents, without requiring a separate addendum that the resident must sign.
- This week, TAA released a combined Student Housing Guaranty Agreement and Application and a standalone Student Housing Guaranty Agreement through TAA Click & Lease.
- For more information, contact TAA Vice President of Member Services Glenda Holmes at firstname.lastname@example.org or call 512/692-0441.
Last month, the Texas Apartment Association released its revamped Student Housing Lease and related forms through TAA Click & Lease.
Thanks to the hard work of a dedicated task force comprised of operators and attorneys specializing in student housing, TAA has rewritten this lease to focus specifically on the needs of student housing properties. The revamped Student Housing Lease is also streamlined to ensure that it is compatible with lease auto-generation and workflow.
“As chair of TAA’s Student Housing Task Force, I was excited to work with several of my counterparts, attorneys specializing in our market segment, and local association executives in select areas with student housing, to help TAA overhaul the student housing lease and ensure it meets the needs of student housing operators in Texas,” said TAA’s new President-Elect Clay Hicks with The Dinerstein Companies. “We also collaborated with Bailey Technology Group who was crucial in our work through technology and workflow questions,” he added.
In addition to the lease itself, TAA has created a Notice Regarding Exclusive Space that student housing operators can use to assign space to residents, without requiring a separate addendum that the resident must sign.
TAA has also developed two new forms for the guarantor process, which were released in TAA Click & Lease on September 9, 2020:
- TAA Student Housing Guaranty Agreement and Application—for use when an operator wants a combined application and agreement process
- TAA Student Housing Guaranty Agreement—for use when operators use a separate application process for guarantors and want to utilize the agreement only in their workflow.
In the coming months, TAA will be exploring additional forms or customizations that relate specifically to student housing. NAA will also be using these forms as a template for its national rollout in conjunction with the 2021 leasing cycle.
If you have any questions about the new Student Housing Lease or suggestions about forms that we should consider, or if you would like to get more information about using this tool for your properties, please contact TAA Vice President of Member Services Glenda Holmes at email@example.com or call 512/692-0441.