Student FAQs

1. What is the process to secure housing?

Each student and their guarantor are required to complete an application. Students will be added to the waitlist of their first choice of housing while current tenants are surveyed; typically Sept-Nov. Housing will be offered to groups in the order they are on the waitlists. *Being on a waitlist does NOT guarantee housing.

2. I don’t have roommates, can I be matched with other students?

RedStone does not facilitate roommate placement or assignment. We are always happy to put students in contact with each other if possible but it would be at the discretion of the students if they decide to move forward with rooming together.

3. 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.

4. 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.

5. What are the lease terms?

Lease start dates can vary depending on the complex/house your student is assigned to.

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 #6

6. I plan to go abroad for a semester, can I 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.

7. My roommates and I want to pass down our apartment at the end of our lease, how do we do that?

Passdowns are contingent upon management approval, inspections and the need for any maintenance/repairs in the home.
*Students do not dictate whether or not a passdown will occur.

If approved, passdowns leases will be an As-Is takeover.

8. I have a scholarship and/or receive financial aid funds for housing. Can I pay my rent when I get my money?

RedStone works with students receiving scholarships, grants and financial aid to pay their rent. You and the Elon Bursar’s Office will be required to complete a form confirming your funds and estimated disbursement date.

Your administrative fee and security deposit cannot be deferred and must be paid up front.