Contract Cancellation Policies for Fall 2024/Spring 2025
The lease is based on your school status. You must be a UNC student to live at Granville Towers, so if you are withdrawing or are not accepted to UNC, the lease provides options for cancellation based on the following criteria:If you are NOT accepted at UNC (page 2, Item #2, paragraph “Pre-term termination by resident,” (A)
- You must provide written notice 30 days prior to the start of the lease1 that you were not accepted to UNC
- You will need to provide documentation of denial of admission
- If you do not give 30 days notice2 you will owe a $250 cancellation fee
If you ARE accepted at UNC but decide NOT to enroll (page 2, Item #2, paragraph “Pre-term termination by resident,” (B)
- You must provide notice 60 days prior to the start of the lease that you will not enroll at UNC
- You must provide documentation of your non-enrollment status at UNC
- If you do not give 60 days notice3 you will owe a $250 cancellation fee.
If you are enrolled at UNC and no longer want to reside at Granville Towers, you have the following options:
The lease does not provide specific terms for cancellation during the term if you are still attending UNC. However, the lease does provide guidelines (Page 5, Item #14, last paragraph in bold).
In the interest of being fair and consistent with all of our customers, we set a predetermined policy at the start of each leasing season so that policies are implemented in a uniform manner. For the Fall 2024/Spring 2025 term the options are as follows:
The resident is responsible for their lease, but may recruit a replacement tenant to fill their “space” at Granville Towers. In order to serve as a replacement tenant:
- The replacement tenant must be enrolled at UNC for the term of the lease
- The individual cannot have an application or lease with us for the term of the lease (i.e. 2024-2025). This policy is explained in item #29 of your lease, Assignment.
- The Replacement Tenant Form must be completed and submitted to the Leasing Manager in writing prior to them applying online (or in person) to satisfy the assignment requirement.
- Pay a $200 relet fee.
If Granville Towers has a waiting list at any point after, we will do our best to assist in finding a replacement tenant that wishes to live at Granville Towers. If we have a waiting list and can replace your lease, you would owe a relet fee of $200.
1 The lease dates for 2024-2025 are August 15, 2024 – May 10, 2025.
2 30 days’ notice for 2024-2025 is July 15, 2024.
3 60 days’ notice for 2024-2025 is June 15, 2024.
Updated 6.6.2024
Rates/installments, fees, caps, promotions, deadlines, amenities and utilities are subject to change. To the extent changes are made, you are bound by the lease you enter into. You are not entitled to claim a reduction due to later promotions or rate/installment decreases. Rates/installments do not represent a monthly rental amount (and are not prorated), but rather the total base rent due for the lease term divided by the number of installments. Select floor plans and lease durations only. Limited time only. See office for details.