Policy
Morgan Properties strives to retain and renew all residents to maximize income and reduce expenses. All efforts must be exhausted to cancel move outs and encourage residents to fulfill their lease agreement or renew for another lease term.
- An apartment is considered vacant when the keys are returned.
- The prorating of the final month’s rent is not permitted if the resident moves out before the last day of the lease.
- The security deposit may not be used as the last month’s rent.
- Once the apartment is vacated, the move out inspection must be completed within 48 hours by the Maintenance Supervisor.
Adjust a Move Out Date
- If the resident does not return their keys on their scheduled move out day and wishes to stay, the Property Manager must negotiate a new lease term or lease extension and adjust the move out date in Yardi.
- If the resident does not return their keys on their scheduled move out day and still desires to vacate, the resident must be made aware that they are obligated to pay the holdover charges as stated in their Morgan Properties Residential lease.
Cancel a Move Out
- If the resident decides to cancel their move out, their request needs to be in writing.
- If the move out notice is cancelled and the current lease term has not ended, the current lease term will stay in effect.
- If the move out notice is cancelled and the current lease term has ended, the Property Manager must negotiate a new lease agreement or renewal.
- If the resident’s apartment is pre-leased, all efforts need to be made to transfer the future resident to another apartment to accommodate their housing needs.