1800 PR.02 Leasing Residential Space

Contents

1.     Overview

2.     Residential Space for Yale Community Members

3.     Residential Space for Yale Units

Yale maintains a limited portfolio of residential space available for lease only to Yale faculty, staff, students, and affiliates (collectively, “Yale community members”).  Under limited circumstances, Yale units may also lease or finance the lease of Yale-owned residential space on behalf of their community members or certain visitors.  Additionally, under limited circumstances, Yale will lease non-Yale-owned residential space on behalf of Yale units, community members, or visitors.  This procedure describes the process and steps that should be taken when a Yale community member or Yale unit identifies a need for Yale-owned residential space.  Residential space, per Policy 1800 Real Estate Leases, is real property (or a subdivided portion of real property) that is used exclusively for living purposes by the tenant and/or authorized occupants.

Yale’s portfolio of residential space is professionally managed by Elm Campus Partners (Please note: this portfolio is independent from the exclusive portfolio maintained by the Office of Graduate Housing.  For questions regarding graduate housing, please contact the Office of Graduate Housing directly).  Yale community members interested in leasing Yale-owned residential space should adhere to the following process:

• Contact Elm Campus Partners via their website or by calling 203-776-4466;
• Visit properties of interest with an Elm Campus Partners representative;
• Once an available property is selected, sign lease documents with Elm Campus Partners;
• Please note: Yale requires all tenants to maintain active renters’ insurance.  The default in Yale leases is for Yale to purchase this insurance and pass the cost to the tenant as an additional charge to the first month of rent.  Tenants may opt out of this default, but only upon supplying documentation of active renters’ insurance providing equal or greater coverage.

Once a lease is signed by the tenant(s), Elm Campus Partners forwards the completed lease to University Properties to be countersigned on behalf of Yale.

Residential Lease Renewals for Yale Community Members

To renew a lease for Yale-owned residential space, community members should contact Elm Campus Partners via their website or by calling 203-776-4466.

Yale units, under appropriate circumstances, may choose to lease or finance the lease of residential space on behalf of specific community members or visitors (e.g., visiting faculty, scholars, fellows, staff).  In such instances, Yale units should contact University Properties.  University Properties will work with the unit to evaluate the residential space needs and determine whether suitable space exists in Yale’s portfolio.  If suitable space exists in Yale’s portfolio, University Properties will work with the unit to complete the necessary steps and paperwork for securing the space for use.  If suitable space does not exist in Yale’s portfolio, University Properties will inform the unit, and the unit should then adhere to the following process:

• Identify potential non-Yale-owned residential space that is suitable;
• Obtain and complete Form 1800 FR.04 Yale Residential Rental Request;
• Submit completed form to the Provost’s Office for approval;
• Once approval is obtained, submit approved form and proposed lease documents to University Properties for review and processing.  Whenever possible, requesters should obtain and utilize a Yale-approved form lease from University Properties.  All proposed leases must include a lead-based paint disclosure signed by the landlord;
• If additional information is required, or if the proposed terms are not in line with market pricing, University Properties will contact the individual named on the form;
• Once University Properties approves the terms, the lease is processed and signed;
• University Properties delivers the signed lease to the requesting unit to deliver to the landlord.  The requesting unit is responsible for delivering the signed lease to the landlord and setting up rent payments (rent payments may be set up in Workday).

Residential Lease Renewals for Yale Units

To renew a lease for residential space leased by or financed by a Yale unit, Yale units should contact University Properties.