Looking for apartments in downtown Williamsburg, VA? King & Queen Apartments is located in downtown Williamsburg, VA and is popular among College of William & Mary students, both undergraduate and graduate, and local young professionals.
This leasing process guide has been compiled to answer many of the common questions people have when moving off campus.
The initial lease term at King & Queen Apartments typically runs from early June (depending on the year, June 6 – 9) to May 22 of each calendar year. Leases for tenants who renew or sign a new lease for an additional year run from May 22 to May 22. Apartments may be available earlier or later in the year, depending on turnover and overall availability.
NOTE: The lease does not begin or end on a given weekday. The lease start date and/or end date could land on a weekend or weekday.
1. Turnover and Availability
There are 26 apartments on the premises. The undergraduate residents at King & Queen Apartments are typically second, third and fourth year undergraduates at the College of William & Mary. The graduate residents are typically enrolled in a two or three year graduate degree program. Since residents are typically undergrad or graduate student, they do not live on the premises for more than three years.
Depending on the year and apartment turnover, the number of units that turn over can range from just a few to nearly all of the units becoming available for rent. The apartments are available on a first-come, first-served basis to approved applicants, when existing leases are terminated.
King & Queen Apartments’ leases have a one hundred twenty (120) day termination/renewal clause. Current Tenants must give written notice by January 22 as to whether or not they wish to stay and sign a new lease, or terminate their lease and move out on May 22. If written notice is not received at least one hundred twenty (120) days prior to the lease end date, the current tenant’s lease will automatically terminate on May 22.
2. Rental Applications, Fees and Deposit
Rental applications are accepted throughout the year, depending on availability. For undergraduates, applications are traditionally accepted as early as the fall semester for the following lease term and academic year. NOTE: Any changes, additions or revisions to the lease, including monthly rental rates, are typically done in late December or early January of each year. Each apartment has a maximum occupancy of two tenants. Each prospective tenant must complete a rental application to begin the leasing process. Each applicant must submit the following their application to be considered. All applications and lease forms can be found HERE:
- A complete and signed Rental Application,
- A Rental Application Fee of $45 per applicant,
- An application deposit of $1000 per apartment,
- A copy of their government-issued photo ID and student ID must accompany the application.
- A complete and signed Rent Guarantor Application,
- A signed Guarantor Acknowledgement,
- A Rent Guarantor Application Fee of $45 per Rent Guarantor.
All fees must be in for form of certified funds (certified bank check or money order). The application deposit is for the apartment, as a whole, and not for each tenant individually. The application deposit becomes the security deposit once the lease is signed. No application will be considered until all completed documents and funds are received.
3. Rent Guarantors
Each Tenant at King & Queen Apartments must have someone to financially guarantee that the rent is paid each month. This is called a “Rent Guarantor”. A Rent Guarantor is needed in the event that the Tenant is unable to meet their financial obligations under the Lease Agreement, whether for overdue rent, damage to the property, etc.
The Rent Guarantor is legally bound to accept the financial liabilities on behalf of the Tenant. Similar to an insurance policy for the Landlord and/or Managing Agent to protect against the Tenant for defaulting on their rent, the Rent Guarantor essentially acts as the bank, thereby financially guaranteeing the rent and damages during the lease term, and nothing else.
The Rent Guarantor is only guaranteeing the financial aspects of the Tenant’s lease and is neither occupying the Premises pursuant to the Lease Agreement, nor does the Rent Guarantor become a Tenant or assume any of the rights of a Tenant.
The Rent Guarantor:
1. does not co-sign the Lease and, therefore, is not a co-signer.
2. does not have any rights to the Lease or occupancy of the Dwelling Unit.
3. financially guarantees the Lease, and nothing more.
For example, only the Tenant receives notices, communication and correspondence pertaining to the Lease Agreement. Likewise the Tenant is to notify, communicate and correspond directly with the Landlord and/or Managing Agent regarding any questions or issues during the lease term.
The Rent Guarantor for each Tenant applicant must complete the Guarantor Application and submit it, along with a $45 fee. The application verifies employment, income and credit worthiness.
Once approved, the Rent Guarantor signs a Rent Guarantee Agreement thereby guaranteeing the payment of rent and other financial obligations during the lease term.
If there are two, unrelated Tenants, the lease is between both Tenants jointly and severally, thus both Tenants are equally responsible for the payment of monthly rent and all obligations under the lease. Therefore, each Rent Guarantor is guaranteeing not just the Tenant they specifically have association with, but the other Tenant as well.
All applications are subject to Management approval.
4. Submitting Your Application Documents and Payments
When you have completed your Rental and Guarantor Application(s), have the fees and deposit in certified funds, please mail the application documents to:
Howard Hanna William E. Wood Property Management
5208 Monticello Avenue
Williamsburg, VA 23188
Please be sure to make your certified bank check or money order payable to “Howard Hanna William E. Wood and <Your Name>“.
When the application documents are received, Management will begin the approval process.
5. Approval & Lease Signing
Upon approval of your application, you will be contacted by Management and a date and time will be set for you to come to the office of Howard Hanna William E. Wood Property Management to sign the Lease Agreement for your apartment. In addition to the Lease Agreement, the Rent Guaranty Agreement must also be signed by the Rent Guarantor. The rent Guarantor does not have to be present at the time of lease signing; however, if they are not present at the time of lease signing the Rent Guaranty Agreement the signature on the Rent Guaranty Agreement must be notarized by a Notary Public.
NOTE: In Virginia, property owners do not have to accept tenants whose primary role is “student.” Howard Hanna William E. Wood and King & Queen Apartments, LLC is willing to do business with students to do business with and rent to students; other local property management companies and owners may not and may decline your application.
If you are looking for apartments in Downtown Williamsburg, VA, Contact Us today for a showing. King & Queen Apartments offers renovated apartments close to the College of William & Mary, restaurants, shopping and public transportation.