PROGRAM POLICY

WELCOME

Thank you for providing Innovative Apartment Group and its Affiliates the opportunity to serve you during your rent sponsorship.

Low Credit Rents, LLC signs a 12-month lease with the respective property and pays rent on the 1st of each month for that 12-month period.

Our occupant is a Sub-Tenant, who has signed a lease to pay rent on the 1st, and the 15th of each month.

Rent Sponsorship Program

PAYING RENT, AND UTILITIES

  1. As a Resident you are an occupant with Low Credit Rents.
  2. Risk Fee must be paid in full no later than the 3rd month from the date of move-in as spelled out in the Rent Schedule.
  3. Rent is due on the 1st and the 15th of each month (along with any utilities or other expenses owed).
  4. If you experience a short month we ask that you communicate via this link to explain your Promise to Pay.
  5. If you are unable to make the agreed payment according to your promise to pay, a 7-day notice to quit will be sent along with fees (see below).
  6. Upon completion of the said 7 days, if the occupant has not paid the amount due, will be asked to move out.
  7. Low Credit Rents will work with you to get your rent paid, however will provide the resources with the courts permission to move the occupant(s) out swiftly.

You can make your rent payment, and any other fees, or utilities by using your assigned ATM Deposit Only Card, or we offer new payment types i.e. Zelle, PayPal, Venmo, CashApp.

Please note when making all payments be sure to email your receipt /proof of deposit to info@innovativeapartmentgroup.com. If you have any questions, please call or text (248) 820-5377.

Refer to your Residential-Lease Agreement

LATE FEE:  If Landlord receives the rent more than one (1) day late it is considered late, three (3) days after it is due, Tenant will be charged $50, late fee notice to quit will be sent with administrative fee listed in the next paragraph.  Late rent may also subject the Tenant to eviction proceedings or non-renewal and liability for damages.  The parties to this Agreement have discussed the importance that rent is paid timely.  The exact amount of Landlord’s damages related to late rent is difficult to ascertain as there are several factors that determine the damages; including how many days late the rent is paid.  Therefore, the parties have agreed after negotiation that a $100 charge per month for liquidated damages is appropriate and reasonable if the rent is not paid on or before the day rent is due.

DEFAULT NOTICE CHARGE:  If Landlord is required to send the Tenant a default notice letter for non-payment of rent or other breach, including a termination notice at the expiration of this Lease, the Tenant’s account may be charged an administrative fee of $25.00.  This is not a late fee and is independent of any late fee(s). This amount is additional rent. The notice can be sent at any time after the 1st or the 15th of the month.

RESOURCES
If you have a need for financial assistance, you are encouraged to reach-out to these resources ahead of time.

Thank you for putting your trust in Innovative Apartment Group. We hope the additional support provided by Innovative Apartment Group will assist in correcting your credit.

The IAG Team