Security Deposit – When you decide to rent an apartment, you must pay the security deposit in order to begin the rental process.
Security deposits may be paid in cash, check, money order, or credit card. A security deposit is held for the entire term of the lease and refunded within 30 days after the end of your lease date, minus any damages and unpaid rent/fees.
Once you’ve remitted the security deposit, you will receive the following leases and applications:
1. MASTER LEASE AGREEMENT: At the time you put down your deposit, you will be given a Master Lease Agreement. This must be signed by the roommates and turned back in within 24 hours of renting the apartment.
2. APPLICATIONS: Once we enter your contact information into our secure online portal, each resident and each cosigner will be emailed a link to complete their own APPLICATION online. There is a $10 non-refundable application fee which can be paid online through the online portal’s secure server. (You will notice a charge from either Inn Town or Harrison Holdings on your card.) Please complete your application within 24 hours of receiving the link. Note that you will also be required to submit a copy of your ID, which can be conveniently taken as a photo if you’re completing the application by phone. Do not forward your link to your cosigner or roommate, as each link is individualized.
3. LEASE AGREEMENT VIA PORTAL INVITATION: Once Iuka Park Commons has assigned you the exact address of the unit you will be living in, we will send each resident and each cosigner an invitation link to fully activate their personal Online Portal. Once activated, the lease agreement will be in the portal for each resident and each cosigner to view and sign electronically. You must electronically sign the lease agreement and initial EACH addendum presented, as all are a part of the contract. Cosigners’ liability will be limited to a fractional amount of the rent owing, as reflected on the Cosigner Liability Addendum. (Cosigners are usually a parent, grandparent, aunt or uncle; someone who is willing to be financially responsible for payment of the resident’s rent should they not pay.) All leases must be signed and initialed by all parties (residents AND cosigners) within 48 hours of receiving the link to create the portal.
All leases and applications must be received by Iuka Park Commons by the deadlines given in the rental instructions.
Failure to do so may result in re-rental of apartment.
On move-in day, residents will pay their first rent installment. All rent must be paid for all roommates before any keys can be given out.
Every month thereafter, rent will be due on the first of the month. Rent must be paid through our secure online portal. The portal accepts payment by e-check (ACH payment) for free, and it accepts credit/debit with a service fee. (Remember, the security deposit you pay upon rental does not count as rent; it is strictly a security deposit.)
Subletting is permitted as long as all roommates are in agreement. Iuka Park Commons requires you to submit a copy of your signed sublet agreement as well as a copy of the sub-tenant’s drivers license or photo ID. We suggest you get a security deposit (at least $100) from your sub-tenant because, as the signer of the lease, you will ultimately be responsible for any damage that might occur to the unit..
Your rent is already prorated. We take the total amount of rent we want to receive for the year, prorate out the number of days you won’t be in the apartment, and then divide it into twelve equal installments. This method makes it easier for you to keep track of how much you owe each month.
The water/CAM charge is a monthly fee which pays for water and sewer charges for your apartment and Common Area Maintenance. This amount is already included in the rent price listed at the top of your lease. Common Area Maintenance includes general cleaning outside the building, lawn care, snow removal, etc. This does not in any way exclude the residents from taking responsibility in cleaning up the exterior of the building after parties.
Iuka Park Commons does not in any way assume responsibility for the utilities inside our apartments. Each apartment will be responsible for setting up utilities in their own names. The only exception to this is the water; it is already set up and included in your rent each month.
We absolutely do not allow pets in our apartments. This includes cats, dogs, ferrets, etc. Fish are permitted and birds will be permitted with a signed Pet Addendum. NO EXCEPTIONS WILL BE MADE.
Each apartment may purchase one main lot parking pass and receive one South Lot parking pass.
Yearly cost of passes:
- $100 for your first year renting with us
- $50 for your second year
- FREE for 3rd year and beyond.
We videotape all of our apartments upon move out so there are no discrepancies about security deposit returns. We also send out move-out packets that give you details on exactly what we expect of your apartment when you move out. If you follow these instructions, you should have no problem receiving a fair refund.