|Title:||Residential Rental Properties, Policy on|
|Policy Owner:||Facilities Operations|
|Applies to:||Existing and Potential: Faculty, Staff, Visiting Scholars and Guests|
|Campus Applicability:||Storrs Currently. If the University acquires residential rental property at any other campus it will apply to such property|
|Effective Date:||May 3, 2019|
|For More Information, Contact||Lynn Hallarin, Director, Business Services Center|
REASON FOR POLICY
It is strategically important for UConn to provide and manage short- and long-term housing options for the recruitment and retention of faculty, staff, visiting scholars and other UConn guests. Accordingly, it is University policy to provide housing that is well maintained, attractive and marketable. It is also important that all University owned rental housing be maintained and operated in an economically efficient manner.
The Rental Properties Unit of UConn’s Facilities Operations & Building Services maintains a portfolio of rental properties with rental rates designed to support the expenses and improvements necessary to sustain and maintain the portfolio. Rental properties shall only be made available to Storrs Campus Faculty and Staff, Visiting Scholars and other guests.
The portfolio is comprised of two categories of units: (1) apartments in The Oaks on the Square in Storrs Center; and (2) University-owned houses. The first category is established to support institutional recruitment and retention objectives, while the second category is to be maintained as a long-term, self-sustaining University asset.
The allocation of rental properties shall be managed in a fair, equitable and open manner. Rental requests can be initiated in one of two ways: (a) by a Host (defined below); or (b) by an individual who is a member of the Storrs Campus faculty or staff, a visiting scholar or other UConn guest, as applicable.
Rent will be paid for all rental properties. The amount of rent that is charged will be determined on a market basis through an appropriate analysis. Rent will be paid either by the individual occupying the property or by the Host.
All rentals must be memorialized in a written agreement signed by an authorized UConn representative and the licensee. The agreement must specify the licensee, the rent, who is paying the rent and the duration of the rental period..
If a Host is paying the rent, that must be reflected in the written agreement and the agreement must be signed by an authorized representative of the Host.
If the occupant does not pay rent, the fair market value of the rent may be taxable income to the occupant subject to withholding and tax reporting. The occupant will be responsible for all associated tax liability. To facilitate compliance with tax laws, the Rental Properties Unit of Facilities Operations will notify UConn’s Tax & Compliance Office of all rentals where the occupant is not paying rent (e.g. rents is being paid by Host or no rent is paid).
The Executive Vice President for Administration and Chief Financial Officer (or the successor in function) , in consultation with the Real Estate Working Group, establishes, and approves any changes to, procedures to implement this Policy.
Property covered: All residential rental properties managed by Facilities Operations. It does not apply to property managed by Residential Life.
Persons covered: Storrs Campus Faculty and Staff, visiting scholars and other UConn guests. This policy will apply in the event that UConn acquires residential properties at other campuses. Residential rental properties are not intended for use by students enrolled in UConn undergraduate, graduate or other programs.
“Host” means the UConn Administration, department or academic unit sponsoring the individual who is seeking UConn housing.
“Guest” means Special Payroll employees, long-term consultants, candidates for employment, guest performers (e.g. CRT actors), guest speakers and others similarly situated.
“Storrs Campus Faculty and Staff” means individuals who are regular UConn employees and are employed to work at the Storrs Campus.
“Visiting Scholar” means an expert in an academic discipline or disciplines with a short-term residency at UConn for mutual intellectual enrichment and collaboration. These individuals are typically scholars or artists on leave from other institutions. However, “Visiting Scholars” also may be unaffiliated and distinguished in their fields, or they may be representatives of governments, higher education institutions or other institutions on official business. Undergraduate and graduate students are not visiting scholars.
The President’s office may make exceptions to this Policy or waive the Rental Criteria when it is in the best interest of the University.
Violations of this policy may result in appropriate disciplinary measures in accordance with UConn By-Laws, General Rules of Conduct for all UConn Employees, and applicable collective bargaining agreements.
This policy supersedes and replaces the present “Policy on Residential Rental Properties” which was effective on August 28, 2017.
Information and forms can be found at http://rentalproperties.uconn.edu/.
Pricing and other information about rental properties (not including The Oaks) can be found at http://rentalproperties.uconn.edu/ under the “Houses” link.
Pricing and other information about The Oaks can be found at http://rentalproperties.uconn.edu/apartments/.
Policy created: Approved by the President’s Cabinet (8/28/2017)
Policy revised: 5/3/2019