HOW TO SELL YOUR CONTRACT AT THE GATES APARTMENTS
POST YOUR CONTRACT AVAILABLE ONLINE
Utilize as many places as you can. Recommended sites:
- BYU-Idaho Bulletin Board (this is where most buyers come from)
- Facebook (don’t forget to ask your friends to share)
- Facebook Housing Groups
*Note: Make sure you are posting/reposting often, so your post stays near
the top of any listings.
WHAT YOU WILL DO
- You are responsible for selling your contract at the full price you signed
for. You can lower the cost to whatever you would like, just know that
you will be responsible for the difference if any discounts are given.
- Notify management in writing of your intent to sell your contract.
- Fill out the contract transfer information form that is sent to you with
your personal information for potential buyers to see on our website.
- There is a $150 transfer fee for selling your contract. This fee must be
paid in full for the transfer to be considered complete.
- If you do not find a buyer before your rent is due you will still be subject
to all terms of the contract, including late fees, if not paid on time.
- When a buyer is found, notify management so we can assist with the
- When a buyer is found you will sign a seller agreement sent to your
resident portal. This agreement includes details on which semester(s)
you are selling and who your buyer is.
WHAT YOUR BUYER WILL DO
- Fill out an application on the The Gates website.
- Call, text, or email management to verify they are purchasing your
contract and note on their application they are buying from you.
- Sign their own lease and lease buyer agreement.
- Pay their own Application fee and Deposit. The transfer will not be
considered completed until they have a signed contract and have paid
their own deposit.
WHAT YOUR APARTMENT MANAGER WILL DO
- From the information you provided in the contract transfer information
form, a listing will be added to our website.
- We will add you to our lease transfer list on a first come, first served
- Future residents seeking to buy a contract from another student will be
directed to the listings on our website and can contact you through the
information you provided.
- Notify you in writing and finalize your contract transfer after the
following has happened:
- Received a seller agreement signed by you.
- The lease transfer fee is paid by you.
- A fully signed contract is received from the buyer.
- The buyer has paid their application fee and deposit.
- Once you have found a buyer, any rent charged toward the semester
you are selling will be reversed on your account, and applicable refunds
will be sent to you.
LET’S WORK TOGETHER
We want you to be able to sell your contract. The more proactive you are in the
process with keeping the listing posted and seeking to find a buyer the better this
typically goes. We have also found that being willing to discount your price will
often put you in front of other sellers.
Please know that there are times of the year and certain semesters that are more
difficult to find a buyer than others, and you are not guaranteed to find a buyer or
be released from your contract. If your contract transfer is unsuccessful, you will
still be responsible for your contract.
I want to help you, please stay in close contact as we work together. If you need
any help or advice about knowing what or how to post about your contract,
please let us know.
If you have any other questions, please call us at (208) 356-6686, text us at (208) 684-2901, or send us an email at [email protected] for more
Please Note: Parking does not roll over when you sell or purchase a contract. Our parking is on a first come, first served basis and the parking contract will go back into our inventory.
Want To Sell Your Contract?
Click the button to fill out our form to post your contract for sale. This form is publicly available, so please do not post any private or sensitive information.