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The Belmont Frequently Asked Questions Where is the Belmont Located? 1000 McQueen Drive Durham, NC 27705 919-383-0801 – Office 919-383-1283 – Fax What size apartments are available? One Bedroom/One Bathroom (788 sq ft) One Bedroom/One Bathroom (828 sq ft) Two Bedrooms/Two Bathrooms (1086 sp ft) Two Bedrooms/Two Bathrooms (1112 sq ft) Two Bedrooms/Two Bathrooms (1130 sq ft) How much are the apartments? Due to the variation in floor plans and options please contact us for current rates at (919)383-0801. When will I be notified that an apartment is available for me? Our current residents are required to provide a 60-day written notice of their intent to vacate. Therefore, we learn of an apartment’s availability approximately 60 days in advance. Your apartment placement is dependent on when current residents provide this written notice. At the latest, you should be contacted 21 days in advance of your projected move-in date to be notified if we do or do not have an apartment available. If we are unable to accommodate your needs, your administrative fee and security deposit will be refunded, however, application fees are non-refundable. If I cancel my reservation on the waitlist are my holding fees returned to me? Every applicant has 72 hours from the application date to cancel with a full refund minus the application fee(s). If you decide to be removed from our waitlist after this 72-hour period, your administrative fee will not be returned, however, the deposit is always refundable. How many names do you accept on the waitlist and where will my name be on the list? We will accept only as many names on the list as we think we can accommodate. Unfortunately, the demand can fluctuate from year-to-year, therefore estimates may not be completely accurate, and these numbers are based on the previous year’s performance. Names are placed on the list in the order the application and fees are paid and length of lease term. The earlier we receive your application and fees and the longer the rental term you sign up for, the higher your name will be on the list. Will the price I am quoted today be the price of the apartment when I move in? The rental price of your apartment will be the price of the apartment on the day that you submit your application and holding fees, which will be the price listed on your Addendum To The Lease Application For Residency. Because our new rates are set annually in January and we are traditionally on a waiting list at that time, leases that start in January will pay the market rate effective the day the lease begins. Discount coupons for applications and administrative fees or rent discounts, known as concessions, will only be accepted up to 3 calendar days after submitting the application. Any account credits will not be refunded, but will go towards first month’s rent. What makes me eligible to be a resident at the Belmont? Applicants are required to meet credit and financial requirements mandated by Campus Advantage. Financial requirement of 3 times the monthly rent must be verified, and a third party (First American Registry) must provide an approved criminal background and credit check. If you are a full-time student that does not have rental history and income that meets three times the rent, we require a co-signer/guarantor. Guarantors must meet the financial requirement of 5 times the monthly rent. Unfortunately, we do not accept guarantors in lieu of bad credit history or previous criminal status. Likewise, guarantors are only accepted for full-time students. When will I need to sign my lease? Pre-leases need to be signed in advance to ensure your place on the waiting list. Leases can be signed and faxed, however, you will be required to sign the original prior to moving in. You are signing a legal contract; therefore your signature must be witnessed before a management representative, which protects both you and us. We recommend that you schedule a time with the Leasing Office to sign your lease agreement. This process is quick and easy and gives us the opportunity to meet you again! How does the wait list work? Complete Application Any person seeking to be on our waitlist must begin by submitting a rental application along with the necessary fees. Application fees consist of a $40 application fee per applicant (additional $40 per co-signer- if required), a $300 one-time processing fee, and a $200 security deposit, which is refundable. All fees are due at the time of submitting the application and security deposits must be received separately from the other amounts due. Proof of income is also required to be submitted with the application. Complete Future Resident Profile At The Belmont, we make every effort to accommodate the individual needs of our residents. By completing the Resident Profile, we can take into consideration your preferences and find the perfect apartment home for you! Complete Reservation Agreement This is the final step before we begin processing your application. This form is very important because it lists all monies that are due and those that have been received. It is considered to be your receipt for payment and is signed by both the applicant and a management representative. This is completed for both Wait Listed Applicants and Assigned Applicants. Once the above steps have occurred, your application will be processed within 5 business days of receiving the completed applications from all applicants and co-signers. We are unable to process an application if we have not received applications from all parties. Once we have received all applications you will be contacted with the status of your application. Yes, it is that simple!