Guarantor FAQs

1. Why am I being asked to provide my social security number?

RedStone Property Management requires all guarantors to provide a full U.S. issued Social Security Number for credit/collection purposes. We cannot and will not process applications without a full U.S. Issued Social Security Number.

2. Is there an application fee? What is the administrative fee?

In lieu of individual application fees, RedStone charges a one time $75 Administrative Fee per student for processing of applications and Guaranty paperwork. This fee will be charged along with the security deposit after an apartment/house is assigned.

3. How much is the security deposit and how do I pay it?

Security deposits are equivalent to one full month’s rent (Based on the total rent for the apartment). Once an apartment/house is assigned, we will create and send out the Residential Lease Agreement along with a link to our online tenant portal You can make payment for the security deposit and any future rents.

4. What are the lease terms?

Lease start dates can vary depending on the complex/house your student is assigned to. Click here for a sample agreement.

Room/Apartment takeovers, commonly referred to as “passdowns” or “sublets” are exceptions to RedStone’s standard lease terms. These lease dates will be based on the agreed upon time frame between the current tenant and the proposed sublet; typically done by semester. RedStone will facilitate all required paperwork for this process. *Please refer to #5

5. My student plans to go abroad for a semester, can they have a sublet?

Sublets are permitted ONLY with prior written consent from RedStone. Each sublet will need to complete the Sublease Request Form as well as the Sublease Agreement. There is a $195.00 Sublet fee. The original tenant will continue to remain responsible for all terms of the lease through the original term. All payment arrangements, exchange of keys, etc. are up to the tenant and sublet. Students are responsible for finding their own “sublet”; RedStone will not assign.

6. What is included with the monthly rent?

Apartments/houses are NOT furnished. Standard appliances, washer/dryer and blinds are provided. Students are responsible for all furniture and furnishings.
Included utilities can vary depending on the complex.
Utilities are NOT included for houses.