policy

Early Termination Policy

Introduction

ICC Austin encounters competing needs serving students. On the one hand, providing the most affordable housing requires maintaining high occupancy and reducing turnover. On the other hand, providing flexibility for frequently unpredictable student-life circumstances means accounting for vacancies and allowing early contract terminations for a reasonable fee.  

Policy

Except as noted below, the general fee to terminate a signed Member-Resident Agreement is $300.


Exceptions:   
  • The termination fee for canceling any time in November or April is twice the lease full month installment rate.  
  • The termination fee for canceling any time in December or May is the lease full month installment rate.  
  • Fall leases may be terminated before July 1 at no charge
  • Spring leases may be terminated before November 1 at no charge.
  • Summer leases may be terminated at any time for no charge.



Lease Definitions:
  • Fall leases are leases containing dates between August 1 and December 31
  • Spring leases are leases containing dates between January 1 and May 31
  • Summer leases are leases containing dates between June 1 and July 31