Full-time employees of Elmstone Group Property Management, LLC that regularly work full-time at a particular property may be eligible for discounted rent at that property only and only after 6 months of service with the company unless negotiated differently prior to employment. [Note that an employee must meet more stringent screening standards than our residents in order to live on property.]
The employee discount will be calculated as no more than 20% of the market rent of that unit at the time of lease signing. The lease rate should be updated to keep in-line with market rent at each renewal. In other words the employee must not be paying less than 80% of the market rent for the unit.
Employees are still responsible for utilities for their selected unit consistent with the utility billing for the property.
Since individual properties are not owned by Elmstone Group Property Management, LLC all requests for employee units must first be approved, in writing by Shari Gould and after possible consultation with the owners of the property.
Additionally economically each property can only support a limited number of “employee units” so even though you may meet all the requirements your request may be put on a waiting list until another employee vacates their unit. They will be granted on a first-come, first-served basis.
Conduct of employees living on a property
Employees living on a property managed by Elmstone Group Property Management, LLC should hold themselves to a higher standard than expected from regular tenants. Not only do you represent the management company but also the property itself. As such you are expected to pay rent on-time – as we expect with our tenants – and are subject to the same late fees, eviction proceedings, damage and cleaning charges as any other tenant. Therefore please conduct yourself accordingly.
Termination of employment
Upon termination of employment with the company – either voluntarily or non-voluntarily – the employee must vacate the unit with 5 calendar days.
If the company should request possession of the unit, all residents agree to vacate the premises within 5 days of employee’s termination date. Failure to do so will result in legal action, which may include eviction.
If you do not vacate your apartment by the date specified at the time of termination you will also be responsible for apartment rent at the market rate plus the MTM fee from the specified date forward.
The employee also agrees that should there be any balance for unpaid rent, utilities or other fees upon termination of their employment, the balance due may be deducted from the employee’s final paycheck.
The following lease addendum should be completed and attached to the employee lease. Failure to do so is a violation of company policies and could result in immediate termination.