At Stadium Walk, residents will have a key for their front door and a key for their bedroom. They will share the common areas with their roommates and have their own bedrooms specifically for them.
Since we rent by the bedroom, we utilize individual leases. This means that each resident (bedroom) is on their own lease. This is handy in the event that a roommate cannot pay rent. In conventional apartments, all residents in the apartment would be responsible for each other's portion of the rent. With individual leases, you are solely responsible for your portion, which is linked to each Resident's specific bedroom.
We are legally unable to discuss anything with someone who is not a leaseholder. We understand that you as the parent might be paying the rent but that does not supersede what we are legally permitted to discuss. If you are the Guarantor for the lease, then we are able to discuss the account or financial portion with you, but if you are not the person on the lease (the resident or leaseholder) then we will not be able to speak with you about the specifics of the account or the apartment.
Here at Stadium Walk, we take the total amount owed for your lease contract and break that payment into equal installments. This helps to keep the cost of your monthly rent payment lower throughout the entire term of your lease. Since it is equal monthly installments, the first month's rent will not be prorated. The resident will still owe a full month's rent for the first month and will owe rent as normal again on the 1st of the following month.
We do our best to facilitate a safe environment at Stadium Walk, but cannot explicitly guarantee safety. We highly recommend that you reach out to the Lincoln Police Department for any questions you may have pertaining to the area.
You will NOT receive a bill, statement, or invoice every month. Per the lease agreement, rent is due on the 1st of every month without fail and it is the Resident's responsibility to pay it through the appropriate channels.
We are only able to give a key or let someone into the apartment who is a leaseholder. If you are a Guarantor, you are financially responsible for the lease but are not considered a leaseholder. We would need permission to let you in from the leaseholder.
Our parking lot is by permit only. We do give each resident a guest pass which you can use while visiting your child. Otherwise, street parking is available.
This means that all our leases are electronic and will be signed electronically, work orders can be submitted through the resident portal, and all rent payments will be submitted through the online portal as well.
Our renewal process starts earlier than conventional apartments since we are student living. Several months prior to the lease ending, usually around November, we may choose to extend a renewal offer to the resident. Rent will likely increase every year as is the industry standard. The resident will have a chance to sign their renewal for the next lease term at this point up until March 31st. If they have not renewed by March 31st, we will start to market their room for the next lease term. If they change their mind and decide they want to stay, we may not be able to accommodate them if their room is already rented. If we choose not to offer a renewal to the resident, they will need to make arrangements to move out at the end of the lease term.
As a Guarantor, you are responsible for the financial portion of the lease. If the Resident or Leaseholder is unable to pay then you would be legally liable for the rent.
We are happy to provide a full copy of our rental criteria upon request. There are several items we look for in our Guarantor applicants. This includes but is not limited to, you must make at least 4 times the amount of monthly rent through a verifiable source, be able to pass a credit check through our third party screening company, you cannot have any evictions on your record or owe another apartment complex money in collections. We also complete a background check. You will be required to submit an application with a copy of your ID and proof of income (paystubs or W2). We require these documents in order to verify identity and that you meet the application criteria.