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If you are a current tenant of Manning Properties, LTD in the University Townhomes and wish to renew your lease, please follow the guidelines listed below.

Please note the benefits and incentives for renewing your lease with Manning Properties, LTD.

1. You receive an automatic $50 per person cash credit for renewing your lease if you notify us by February 1, 2010.
2. You do not have to move out during the 10-day transition period that occurs in August when your old lease expires, and your new lease begins.
3. You keep the same rental rates as your did this year as long as you return your new lease by March 1, 2010. Thus, rental rate increases do not affect you as your rental rate is frozen where it is.
4. All current members of your unit do not have to renew. As long as you find acceptable replacements by the March 1 deadline, all of the above beneifts are honored for you. New tenants must turn in all applications and security deposits along with your notification.
   PLEASE NOTE: If this is a partial renewal, the tenants who are renewing must find replacement tenants for those who are not renewing.

Process to Renew:
You must do the following as soon as possible. If the entire lease process is finished by March 1, 2010, then you receive all the above bonuses.

Some Quick Facts for Renewing:

• By February 1 you must E-MAIL us your intent to renew with any details (which roomates are staying, what payment plan you would like, any info on new roomates, etc..)
• Make sure new roomates are on pace to get in their applications and security deposits in to us so we can start the process for them. They can download new 10-11 applications from our website.
• Renewal tenants are not required to submit a new security deposit as we are allowed to transfer your current deposit upon lease expiration.

Different Situations/Scenarios and FAQ:

Question: What if 2 of us want to renew our lease but our other 3 roomates are either graduating or moving out?
Answer: You will be allowed to renew as long as you find 3 replacement tenants in their place. Your rental rates stay the same as they are now and you receive your $50 renewal bonus as long as you infomr us of your intentions by February 1 and complete your lease by March 1, 2010.

Question: We have 4 of our 5 to renew but don't have our 5th yet. We have a lot of friends interested but we are not ready to decide on who the 5th will be. Can we still renew?
Answer: Yes - this is common. We have groups renewing but do not have their final 4th or 5th person by the March 1 date. The tenants that are renewing must sign their leases with the amount of the extra bedrooms split up between them. (i.e. if the rent on a 5 bedroom unit is $1,275 and you have 4 renewals with a 5th to be named later, then leases for the 4 definites will be written as a 4 person unit pricing. An amendment to lease(simple one page document) that converts your rent back to the 5 person rate can then be done as soon as the 5th person signs up.)

Question: When should we inform you of our intent to renew? Is there a deadline?
Answer: There is no real deadline to renew. You can renew anytime as long as we have not yet filled your unit. However, after March 1, you will not receive your $50 renewal bonus and could lose your old rates.

Question: What if we miss a deadline, can we still get some of the incentives and keep our unit for renewal?
Answer: Manning Properties, LTD reserves the right to make special adjustments and arrangements with tenants. A lot depends on the demand for our units. If our waiting list fills up and our units are in high demand, we can guarantee you we will be pretty strict on the deadline dates as our goal is to confirm 100% occupancy in our units as early as possible. On the flip side, if your unit has not yet been rented, we may be open to extending your deadline and making certain considerations. The key to this process is communication. If you communicate and follow up with us on a constant basis we can work with you without a problem.

Question: Are there any other incentives or bonuses besides the renewal bonus and keeping our old rates?
Answer: YES - We also have a referral bonus for those who are renewing. If you know some friends who are looking for a place and you refer them to us, it could be worth an extra $50! Only one referral bonus given per group that is signed. The tenants you refer must complete the entire leasing process and have finalized leases before your bonus is awarded. If you do not renew your lease, you can still earn $50 for your referral. So, put the word out and it could earn you cash$$.

Accepted