It is important that our applicants understand how the deposit policy works. The deposit cannot be applied to rent or any move-in related costs. It is also calculated equal to the base rent of floorplan applying for. The deposit will stay attached to your account and refunded approximately 3-4 weeks after vacating the bedspace/apartment and your account is paid in full. After vacating, any balance due over 30 days is subject to become a collections item on your credit report and/or guarantor. You are welcome to add a guarantor (which is not mandatory) to potentially reduce the deposit amount from two months to one month. The Guarantor will need to be a US citizen/social security number, meet the minimum requirements as follows; monthly income (3x’s monthly base-rent), credit and background. Below are three scenarios conveniently described for you to determine which one applies to your specific situation.

Scenario 1 - Applicant approved with 1 month security deposit

1. The deposit and admin fee are due at time of placement (deposit is non-refundable after 3 days from signing the lease (not counter sign). The admin fee is non-refundable. The lease is required to be signed within 48 hours of placement. Bedspace/apartment will not be guaranteed without deposit paid and signed lease
2. The first & last month’s rent are due along with furniture/parking and other related charges (if applicable) on the move day.

Scenario 2 - Applicant approved with 2 months security deposit

1. The first half of deposit and full admin fee are due at time of placement (deposit is non-refundable after 3 days from signing the lease (not counter sign). The admin fee is non-refundable. The lease is required to be signed within 48 hours of placement. Bedspace/apartment will not be guaranteed without the first half of deposit paid and signed lease.
2. The 2nd deposit, the first & last month’s rent are due along with furniture/parking and other related charges (if applicable) on the move day.

Scenario 3 - International Applicant approved with 2 months security deposit

1. The first half of deposit and full admin fee are due at time of placement (deposit is non-refundable after 3 days from signing the lease (not counter sign). The admin fee is non-refundable. The lease is required to be signed within 48 hours of placement. Bedspace/apartment will not be guaranteed without the first half of deposit paid and signed lease.
2. The 2nd deposit, the first & last month’s rent are due along with furniture/parking and other related charges (if applicable) on the move day. Adding a Guarantor Please be advised, if you are going to add a guarantor, this must be done at the beginning of your application. If the guarantor is approved the deposit may be reduced equally to one month of base rent.

Screening Application
screening consists of credit, income and background check. UPointe cannot guarantee approval and/or deposit requirements until screening is completed.

Pro-Rate
Your pro-rate (if applicable) will be calculated from the original move in date. If you change your move date, the pro-rate will not change.

Deposit
The deposit amount is determined based on the overall screening process of credit, income and background.  The amount can equal up to 2 months of rent (not to exceed 2 months of rent) and it is calculated based on the base rent of “ALL” or “NON” inclusive rates. “ALL” is defined as rent includes parking, utilities and furniture. “NON” does not include parking, utilities and furniture. You are welcome to select which lease best fits your budget and will not benefit the approval process in any way. Deposit does not get applied to rent.  

Renewal
If you renew, the last month’s rent collected at the time of the move-in will be transferred over to your new lease end date (not applied to the last month of the previous lease). You are required to pay the last month of the current lease before renewal is approved.

Early Termination
If you terminate your lease early (before the lease ends), the deposit on file will not be refunded until the balance of your account is paid in full, which includes the early termination fee of up to 2 months, current rent and any other fees associated with your account. The deposit refund will be processed 3-4 weeks after vacating and will be mailed in the form of a check to UPointe. Then, you will be notified to either pick up the check or request it to be mailed to an address you provide. Last month’s rent collection at time of move-in will only be applied to the last month of rent (not the early termination fee). You must provide a written notice of 30 or more days in advance. If notice is less than 30 days, additional charge of up to one month of rent may apply. The deposit will not be applied to the early termination fee.