An Intro to RDI Properties 101

Hello -

There are certain often asked questions.  With this post I hope to answer most of them.

Our leases are all year long.  We do not do short term.  We also do not offer furnished units.  As you peruse our properties you will note that all of our offerings are either in or adjacent to Downtown Champaign.  The farthest away is a five minute stroll to the heart of downtown.

Our leases generally run with the University of Illinois school year.  They run from August of one year through July of the following year.  A copy of our lease is on the site and we encourage you to read it.  We have developed our lease over a number of years.  Language in the lease is not negotiable.

In our lease it states that we will ask current tenants January first their intentions as to renewing and that they must sign a new lease with us by January 14th.  On or near the 15th we then try to have listed on our web sites all of the properties that will be for lease the coming season.  Prior to that time we do not list rents.  We feel to do so is a violation of our current tenant’s privacy.  We will only list on our web site the new rents we are seeking for the new rental year.  Broadly our properties range from the high $600s to the $1,800s in monthly rent.

We do start reminding our current tenants that we will be asking in January their intentions.  We send out a first reminder the beginning of November and a second in December.  When we send these out we ask if anyone already knows their intentions for next year.  Because of this some rentals will show the new rent and are offered for showings prior to January 15th.  Also some units will show that they are leased for another full year as tenants sign renewals early.

Our average tenant stay is four years.  Typically our tenants leave either because they have purchased a home in the area or because they are leaving the community.

If you do have any follow up questions please do not hesitate to either e mail or telephone our office.

Best,

Michael

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