SIMMS RENT EQUITY PROGRAM

Qualifications and Conditions

• Lease agreement must be signed directly with a Simms Management Apartment Community listed below. Subleases and corporate leases do not qualify.
• $100 of every monthly rental payment you make, up to a maximum of $2,000 will be applied to your purchase of a new home constructed by Charles Simms Development at the closing. Some of the accumulated credit may be able to be used as earnest money, depending on loan program.
• The new condominium or home purchase must be handled through Charles Simms Development without an outside Realtor or broker being involved.
• You must abide by all of the conditions in your lease agreement. If you are in default, the credit is forfeited. Any Rent Concession (i.e. free rent) offered within the current lease agreement, as an inducement to sign said lease, must be repaid to Simms Management if lease term is not fulfilled.
• Your lease will be automatically terminated when you close on your new home.
• If you do not sign a purchase contract or do not qualify to purchase a new home constructed by Charles Simms Development the credit will be forfeited.
• The credit cannot be assigned or transferred to any other person.
• At no time can any accumulated credit be used in any way towards Simms Management rent or fees due.
• Rent Equity Plan is available only to individuals currently renting a Simms Management apartment at time of a new home or condominium purchase from Charles Simms Development.

For complete details on the Simms Rent Equity Program please contact any of our representatives at any Simms Management Apartment Community.