DEPOSIT AND RENT

 

Deposit

Each tenant is required to pay a $200 deposit when he/she signs a lease. As stated in Section 10 of the lease agreement, “This deposit shall be returned to Tenant by mail upon the expiration of this lease agreement provided that Tenant has abided with all terms and provisions of the lease agreement, and provided that there are no cleaning, damage or unpaid rent charges. Any other charges owed to the University will be deducted from the deposit and the balance (if any) will be returned to the Tenant.”

Rent

The first month’s rent must be paid and a lease signed before keys can be picked up by anyone moving into an apartment. If you expect to receive financial aid and are unable to make your initial payment, or if it will be more than 30 days before you are able to pay, contact the manager’s office to make deferment arrangements.

 

Rent is due on or before the first day of each month; however, rent becomes delinquent if not paid by the 15^th and tenants will be assessed a $25 late charge after that date. 

Rent may be paid at the Bursar’s Office or may be mailed to:

 

Office of the Bursar

 Service Center Building, Rm. 118

 1100 North Lindsay

 Oklahoma City, OK 73109 

Returned Checks

If your bank returns a check, a $25 charge will be assessed, plus any additional late fees. Failure to pay rent can result in termination of your lease. Transcripts are held until all accounts are paid.

Rental Rate Changes

University Village apartments are self-supporting. Therefore, periodic rate increases may be necessary. All rate changes are approved by the Board of Regents. Should a rate increase become necessary, changes are usually effective July 1. Residents will be given a minimum of 45 days’ notice of any increase.

 

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