Looking To Assign Your Contract?
Getting Started
Follow these simple steps to begin the process of assigning your housing contract to another person.
- Locate a potential candidate. You will be responsible to locate the individual whom you would like to take over your contract.
- Fully complete an Assignment Intent Form. The current resident must acknowledge and sign the form.
- Have the incoming resident apply. The individual who is taking over your contract must apply and be approved before your assignment is completed.
- Pay the assignment fee. Applicable assignment fee in Housing Contract must be paid with submission of the Assignment Intent Form.
Verification
Once the incoming resident is approved in our system, the following steps will need to be verified before we can facilitate your assignment:
- You must have a current balance of $0.
- All forms and fees are submitted and paid.
- You must turn in keys and an inspection of your unit completed by our office. Please note, you will need to coordinate with the incoming resident your expected move-out date. Our office will need 48 hours to process your move-out, which would prevent the incoming resident from moving in any time within the 48-hour window.
- New resident must pick up keys. This will finalize the assignment process.
New Tenant
Prior to the incoming resident moving in, they will need the following items verified before we can issue keys:
- All fees paid, including first installment.
- Completed registration of SimpleBills account.
- Verified proof of insurance or enrolled in Landmark Liability Insurance.
- Acknowledge the 48-hour window before picking up keys.
- Must sign “as-is” agreement in resident portal.
Please Note: Due to assignments, we will send Wi-Fi credentials later and will not be readily available upon move-in.
Housing Contract Assignment FAQs
By assigning your contract, you are releasing all obligations of the contract to an approved applicant to resume said obligations through the duration of the contract. When you Sub-lease the subtenant must pay rent and comply with the lease terms, but the principal tenant remains ultimately responsible for the lease. Moontower does not allow subleasing and reserves the right to remove any one person not legally covered under an executed contract.
Once you have completed the process to assign your bedroom, an inspection of your unit will follow your move-out and retrieval of your keys. We will assess the current condition of your bedroom prior to anyone moving in and charge accordingly. The incoming resident will have 48 hours upon moving in to submit their own move-in inspections to notate any damages prior to their arrival. At that time, they assume all responsibilities in this bedroom moving forward.
The office does not facilitate advertising available assignments nor finds potential applicants; however, several residents find success searching various social media groups, like UT Austin Subleases, Roommates, and Housing & Apartments.
If you cannot successfully find someone to assign your contract, we will remove the $500 fee from your account and credit the amount paid onto your current account balance.