Harvard Real Estate Services (HRES) has announced the approval of the new rent schedule for approximately 2,600 Harvard-owned apartments rented by graduate students and other University affiliates. The new rents will take effect July 1, when the 2006-07 rental season begins.
The Faculty Advisory Committee on Affiliated/Residential Housing has endorsed the new rents that were proposed in the Harvard University Gazette (see, http://www.news.harvard.edu/gazette/2006/02.09/18-real.html). This year, the majority of affiliates currently residing in Harvard’s residential housing who choose to remain in their apartment for the 2006-07 lease term either will have a 4 percent increase in their current rent or will be charged the new market rent for their apartment, whichever rent is lower.
The e-mailing of lease termination and extension instructions detailing residents’ specific rents will commence at the end of March.
For affiliates who sign new leases for initial occupancy in the summer of ’06, the overall market rent for residential housing will increase, on average, by 6 percent starting on July 1. This increase will be applied to base rents, and in most cases the new market rents include the cost of Harvard Internet service and all utilities. However, in support of the fair market rent policy, which is applied on a unit-by-unit basis, rent rates will increase for the majority of unit types and some will stay at their current level.
Rent increases for continuing former-rent-control residents who reside in Harvard’s properties will be announced by early April.
Recognizing the impact of rising energy costs on rents, Susan Keller, HRES’s director of Residential Real Estate, also announced that HRES has been taking steps to reduce energy consumption in residential housing. Over the past year, HRES conducted energy and waste audits, made heating and lighting system improvements in a number of properties, and launched a Peer Education Program at Peabody Terrace, Soldiers Field Park, and One Western Avenue. Since fall 2005, 10 residents at these complexes have been working as “Green Living Representatives” to educate and engage residents in sustainable-living behaviors. The program is coordinated by a Harvard Green Campus Initiative staff member and is overseen by an HRES Steering Group. “It’s important to create an environment where both residents and staff help support the Green Campus Initiative and endeavor to achieve Harvard’s Campus-wide Sustainability Principles,” Keller said.
“Residential housing remains an excellent housing choice for affiliates,” added Keller. “All complexes are conveniently located near the University and have 24-hour emergency maintenance service. There is a broad range of apartment types and a range of rents. Also, unlike many other landlords in the area, HRES does not require a security deposit or last month’s rent.”
Harvard affiliates who are interested in renting a residential housing apartment in 2006-07 should visit http://www.hres.harvard.edu/rre.htm. The Web site describes the broad range of apartments available at the complexes; provides information on the rental process; and includes sample floor plans, estimated rents, and instructions on how to apply.