Harvard Real Estate Services (HRES) has announced the approval of the new rent schedule for approximately 2,800 Harvard-owned apartments rented by graduate students and other University affiliates. The new rents will take effect July 1, when the 2007-08 rental season begins.
The Faculty Advisory Committee on Affiliated Housing has endorsed the new rents that were proposed in the Harvard University Gazette (Feb. 8, 2007). This year, the majority of affiliates currently residing in Harvard’s Affiliated Housing who choose to remain in their apartment for the 2007-08 lease term will either have a 2 percent increase in their current rent or they 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 occupancy this summer, the overall market rent for Affiliated Housing will increase, on average, by 3 percent starting 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. In support of Harvard’s fair market rent policy, which is applied on a unit-by-unit basis, rent rates will increase for the majority of unit types, while some rents 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, HRES continues to take steps to reduce energy consumption in Affiliated Housing, such as conducting energy and waste audits and making heating and lighting system improvements in a number of properties. Green Living Representatives collaborate with HRES staff to educate and engage residents in sustainable living behaviors. HRES’s goal is 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.
Affiliated Housing remains an excellent housing choice for Harvard graduate students, faculty, and staff. Most HRES complexes are conveniently located near the University and have 24-hour emergency maintenance service. Affiliates can choose from a broad range of apartment types and 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 an Affiliated Housing apartment in 2007-08 should visit http://www.hres.harvard.edu/rre.htm. The Web site describes the apartment complexes, includes sample floor plans and estimated rents, and provides information about the online application and rental processes.