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FAQs

Renting FAQs | Acquisition FAQs

Renting FAQs

Do you really mean you are offering a 30-day guarantee?
Absolutely. We want our residents to be happy in their new home. No ifs, ands or buts about it.

Can I really transfer to another community or apartment at any time?
Yes. If you desire a different apartment in your current community or another Home Properties community, you are welcome to transfer. Your account must be current with no unresolved lease violations. And you must also sign a new 12-month lease. The same terms and conditions of Our Pledge will apply at your new location as well. We have communities in many metropolitan and suburban areas throughout the Northeast, Midwest, Mid-Atlantic and South Florida markets. A transfer fee will apply.

How do I find out about these other communities?
The best place to start is right here on our website. You can begin searching for apartments for rent on our home page. You can check availability and reserve an apartment directly on our website, as well. Of course, your Property Manager can also help. Just let them know what you are looking for and they can contact other Property Managers to determine availability.

What do I do if I'm not satisfied here at the community?
Visit your community's website and select "Our Pledge to You." There, you will find the form which you can either complete and e-mail to us, submit online, or print and send via US mail. Or, you may pick up a copy of a Pledge Reimbursement Request Form from the office along with a postage-paid envelope. Fill out the form to tell us about your experience and send the completed form to us. We will review and contact you.

What if it's a situation that was not the fault of anyone at the community? Can I still get a refund?
Each situation will be evaluated on a case-by-case basis. We feel that if you took the time and trouble to let us know about an unsatisfactory situation, we have an obligation to acknowledge your submission and we will do so in a timely fashion.

If I purchase a home, can I terminate my lease under the Pledge?
Unfortunately, moving to a new home is not covered by Our Pledge. It was designed to cover events beyond an individual's control, such as job loss, job transfer, health problems, etc. We feel that choosing to purchase a new home is a decision that requires upfront planning and the timing of such is under the control of the individual.

Acquisition FAQs

Home Properties plans to invest $250 million in the purchase of multi-family communities in the next 12 months. Home Properties is aggressive in pricing and will consider upside potential as added value.

What geographic areas are you interested in?
We are looking to buy communities in well-located suburbs of the following major target markets, including New York City Metro/Northern New Jersey/Long Island, SE Florida, Tampa, Boston, Washington D.C./Northern Virginia, Baltimore, Philadelphia and Chicago.

What are the minimum size and apartment types you want?
Home Properties prefers 150 units or more of garden style 2-4 story brick apartments, if possible. We like Class A, B, or C communities in A or B locations. Large portfolios are especially desirable and receive top priority. Value added or redevelopment/rehab potential is also a plus.

Would you ever consider smaller communities?
Smaller properties in Northern New Jersey, Long Island or near an existing Home Properties' community may also be considered.

Will you work with brokers?
Home Properties respects brokers' efforts and involvement. We are always mindful of rightful agency and a commission due a broker. Provided the broker has authorized agency from a seller, Home Properties will honor that agency and endeavor to protect it. In the event a seller has not previously agreed to pay a commission, Home Properties may enter into an arrangement to pay a buyer broker to act on its behalf.

What are your payment terms?
Home Properties will pay all cash, cash over an existing mortgage, or tax deferred (to seller) operating partnership units. Home Properties will close quickly with minimal contingencies and work closely with the seller to accommodate any special tax or partnership concerns.

What about Tax Deferral Options?
Home Properties is proficient at designing tax-deferred transactions either by issuing operating partnership units exchangeable for Home Properties' stock (UPREIT) or by accommodating a seller in a tax-deferred exchange.

How can we start the process?
Please provide us with the following information: property name, address and location, complete property description, 3 years' actual operating and year-to-date statements, current rent roll, financing detail, color photographs, and site plan or survey. We will respond quickly to your inquiry.