Resident must be in good standing with no delinquency or lease violations.
No lease-break charges will be applied if resident is terminating a lease early to move to another Equity Residential community that is more than 25 miles away.
A $350 settlement amount must be paid by resident if resident is terminating a lease early to move to another Equity Residential community that is within a 25-mile radius. (In New York City and the New Jersey Metro area, the settlement amount is $1,000). Settlement amount subject to change.
Resident must repay a pro rata portion of all upfront concessions initially received if resident is terminating a lease early.
Resident must pay all outstanding balances prior to moving.
New Lease
Resident must complete an application for rental and satisfy the community’s rental criteria.
The application processing fee will be waived for relocating residents.
Resident must enter into a minimum six-month lease term (seven months in Florida).
Resident must pay all deposits and other move-in charges associated with the new lease.
Rent with Equity Restrictions
Every resident is automatically enrolled in the program.
Enrollment is free - there are no resident enrollment fees.
No minimum length of residency is required.
Roommates earn credits based on the total rent for the apartment, not only on their portion of the rent. For example, if the rent is $1000 per month and the accrual percentage is 15%, each roommate would earn $150 per month in Rent With Equity® credits.
Credits transfer with the resident and continue to accrue if you move to any Equity Residential® apartment community nationwide as long as there is no more than 120 days' lapse between lease dates.
Credits cannot be transferred to another individual.
Residents must be in good standing. Residents must be current with their financial obligations to Equity Residential® and must follow the proper procedures for terminating their lease, whether it is at lease end or mid-lease.
Credits can be used in conjunction with other Participating Builder offers.
Residents cannot use the services of a real estate broker or they will be ineligible to participate in the Program.
Certificate of Equity must be given to Participating Builder prior to signing the purchase agreement for your new home.
Resident stops earning rent credit once a purchase agreement is signed.
Once the purchase agreement is signed, no additional Rent With Equity® credits can be added to the purchase.
Only one certificate may be used per home purchase.
Credits must be used within 120 days from the date that a resident moves out of an Equity Residential® community.
If Equity Residential® sells a community, residents living at that community on the date of sale have one year from the closing date to use their credits.
Program start dates vary by market. Program start dates determine when a particular area or property began participating in the Rent With Equity® program.
Equity Residential® makes no representations or warranties with respect to the actions of the builder or the quality of home built.
The Rent With Equity® program may be changed or canceled at any time without notice.
Participating Builders, accrual percentages and maximum discount percentages vary by market. Consult your leasing office for information about the program in your area, or select a builder or state from the list below.
