Guidelines for Selling Your Contract
Please use this checklist as a guide when selling your contract. REMEMBER it is YOUR job to make sure your contract is sold properly, so read through your contract and talk to your manager as well. This checklist is provided as a convenience only, is not exhaustive, and does not guarantee that you will actually be able to successfully sell your contract. Until you receive formal written notice from your property manager that your contract has been sold to a third party, you remain responsible for the remainder of your lease. Please direct any questions about these guidelines to your property manager.
Before I start this process, I understand that…
- As stipulated by the lease, there is a contract transfer fee ($200 or $100 for bythebedroom leases).
- It is my responsibility to sell my contract. Not my manager’s.
- I may not sublease my contract.
- Anyone interested in my contract must apply and be approved by Vision Real Estate first.
- Whoever takes my contract must pay their own security deposit, they cannot borrow or have mine.
- I cannot promise my contract to any one personLeases are made available to the first qualified applicants.
Now that I know that, have I done the following?
- Received, signed, and returned to manager the “Intent to Sell” form. (Your manager can provide this to you)
- Asked my manager to put my contact info on the contract sell list on the Vision website.
- Advertised my contract on Craigslist, KSL, Facebook, with friends, with roommates, etc. using the information from Vision’s website.
Someone has asked to buy my contract, what do I need to make sure is done?
- Have I showed them the property?
- Have I told them what the rent is?
- Have I told them what the utility situation is like (how much it will be, which utilities they pay for)?
- Have I told them what the property rules are for things like animals, smoking, etc?
- If I have offered them a rent concession, have I informed my manager?
- Are they aware of any necessary prorations? (check your contract and payment dates)
- Has the person submitted an application online at visionutah.com ?
- Have I showed the person my lease agreement, to make sure they are aware of/understand all terms and conditions?
- Have I given them the “Guidelines for Buying a Contract”?
- Has the new person signed a contract and paid a deposit to management?
- Have I signed an addendum or contract transfer that releases me from my contract?
- Are there outstanding balances on my account? (rent, utilities, late fees, etc.)
- Have I scheduled a checkout with my manager?
- Have I done the cleaning required of me before moving out?
- Have I returned my key, garage opener, mail key, clubhouse key (etc) to management and obtained a receipt?
- Have I left a forwarding address with my manager?
Guidelines for Buying a Contract
Please use this checklist as a guide when buying a contract from someone who is renting from Vision Real Estate. REMEMBER it is YOUR job to make sure you are aware of all policies and terms relating to the contract you are attempting to purchase. T his checklist is provided as a convenience only, is not exhaustive, and does not guarantee that you will actually be able to successfully purchase a contract. If you have any questions or concerns, please direct them to the property manager.
Before I begin, I understand that…
- The tenant I am purchasing the contract from cannot promise me that only I will get their contract. Leases are made available to the first qualified applicants.
- I must submit an application and pay the application fee to Vision Real Estate (VisionUtah.com) to be considered a potential purchaser/tenant.
- My application must be processed and approved, and the lease signed by management before I can move in.
- I shouldn’t count on moving in on the same day I find a contract available for purchase (application & lease must be completed first)
- The property manager has the authority in this process. The Front Desk cannot answer all the questions I have nor can the current tenant make any promises on behalf of management
- I am responsible for paying my own deposit, I cannot borrow or have the deposit of the person selling their contract.
I have found a contract to purchase, now what?
- I have seen the property I am moving into and accept it as is.
- I am aware of what the monthly rent is, as well as any other regular fees (such as utilities, laundry room fees, parking permit fees, etc)
- I know who the property manager (landlord) is, and I have their contact information.
- I have read over the contract that I am trying to purchase, and I know what all the terms and conditions of the lease are (dates, payments, property rules, etc).
- I know about the policies for animals, smoking, parking, etc.
- I have applied for this contract online at visionutah.com
- I have told the property manager that I have applied for the contract
- I have told the property manager about any special accommodations I need when I move in
My application is approved and I am ready to sign, what should I know?
- Do I know what the contract dates are (beginning and end)?
- Will my rent be prorated at any time when I move in or when I move out?
- If the contract seller has promised me certain rent concessions, do I have that in writing from them or have I already received those concessions? (Only those terms on the lease between me and Management will be enforced by Management.)
- Is my security deposit ready to pay?
- Have I confirmed with the manager what my move in date will be and when I can pick up my key?
- If I have any questions at all, I have asked the property manager and have received an answer from the manager. I am responsible for understanding all the terms of the lease and what is expected of me.
- I have read and understand the “Selling” and “Buying” guidelines.