Frequently Asked Questions
Are there any costs to me as a homeowner?
No. We are leasing the property from you similar to how a traditional tenant could. We’ll pay you and cover the full cost of rent. Who is on the lease? Socially Exposed, Inc. is the actual entity that is on the lease. Similar to a corporate lease, Settle would be the single lease holder so there’s no need to balance multiple leases or worry about turnover or occupancy. We require a one-time, 10 day on-boarding period, which allows us to make any needed repairs or upgrades and furnish the home.
Is rent really guaranteed?
Yes. No matter what. If the property is vacant, Settle will still pay you on-time every month for your entire lease term. We directly deposit rent into your bank account every month.
How frequently do Settle residents turnover?
Settle is focused on building a community as part of the value we’re offering for our residents. Because of that, retention and consistency is important. We’re prioritizing long term residents because that’s what ultimately adds value to our community. On average, our residents stay for 10.5 months.
What maintenance does Settle cover?
Settle will cover any resident damage at no cost to the owner. For issues caused by age, deferred maintenance, or Acts of God, Settle will repair or oversee repairs at the expense of the owner.
Who’s living at the property?
Settle residents are a pool of the most qualified renters you could find. We’re bringing together professionals through a variety of different channels who are interested in living in one of our communities. Usually this means city newcomers who work locally. Luckily in the high demand markets that we work within, selecting the most financially qualified and respectful residents is never an issue. Our selection process is very competitive, so that our homeowners, our residents, and our team here is comfortable. Once our residents have moved in, we’re happy to share a little background on our community.
When would the lease start?
A value of leasing with Settle is that we’re able to turn around and lease space right away. With the amount of demand we’re seeing from our network of residents, we’re willing to take on the vacant space and sign a lease this week.
How do I know my property is being well cared for?
As the entity on the lease, Settle is very particular about making sure our homes are well maintained. At the same time, as part of our selection process, we’re very particular about upkeep and cleanliness. We’ll even schedule regular cleaning services as an added amenity for our residents, but that gives us the chance to provide and upkeep and even get a set of eyes in the home on a regular basis. Most of our residents have an impressive work schedule and may even be at the office more than they’re home so we see very little wear and tear on the space.
What insurance coverage does Settle carry?
There are three levels of insurance coverage on every Settle home: the owner’s homeowners insurance, Settle’ $1,000,000 commercial liability plan, and required individual resident renters insurance.
What is the guest policy?
Members should be mindful that your apartment is shared with other residents so be respectful of the common spaces. Your friend(s) that visit anytime from 10:00 AM to 10:00 PM. The Member is to be present during all times when visitor is at the house. We allow up to 2 Daytime Visitors at a time. If you would like to invite more than 2 Daytime Visitors at once, it is required to receive consent of all other living in Members. Overnight guests are permitted as long as your roommates are comfortable with them. Please be respectful of your other roommates and keep overnight visitors within reason. Guests are not permitted to stay overnight for more than 2 night p/week. We also ask that you let your roommates know at least 24 hours before a guest will be staying with you at the apartment. Please note that Settle rental agreement grants Settle the right to enforce a stricter guest policy in the event that a guest is being disruptive or inconveniencing the other roommates. For special circumstances with written permission any guests staying in your bedroom for 7 to 21 days will add $200 to your monthly rent.
How are resident disputes handled?
We have an awesome customer success team who help solve issues that may evolve. We believe all issues between the residents in the household should be discussed and resolved. If the issue escalates or needs to be reported, please contact us with your concern and we will reach out to help address the issue.
How do I make payments and when is rent due?
All rent payments are made electronically either through, Zelle, Venmo, PayPal, credit card or ACH bank transfer. Credit and Debit Card Payments are subject to a 3% processing fee. Rent payments are made on the 27th of each month, in advance. For example, December rent should be paid to Settle on November 27th.
How does the meet and greet work?
Once an applicant is approved by Settle, it is the current resident’s responsibility to organize a date/time for everyone to connect via Facetime, phone call or in-person meeting. We expect to hear feedback from the current residents within 24 hours of the meet and greet to determine which applicant we will be moving forward with. If we don’t hear from the current residents within 24 hours, the Community Manager will choose the most suitable applicant for the vacant room.
What are the move-in costs?
Move-in costs are your first month’s rent with utilities and the security deposit. The security deposit equates to one month’s rent without utilities.
How do I qualify?
To qualify you must prove your income (your monthly income should be 3 times your rent, so in order to rent for $1,000/month room you should be making $3000). If you don’t qualify on your income, you would need to demonstrate 20x rent in cash assets. If you can’t demonstrate either income / funds in your bank account, we require a U.S. based guarantor that makes 40x rent in annual income.
What should I do if I lose my keys?
To avoid the $100 lockout & replacement fee, we recommend you try contacting your other roommates for help getting inside your home and ask to borrow their key to make a copy. If that doesn’t work, email the Residence Manager so they will help you!
For private rooms, will my bedroom have a lock?
Due to fire safety and occupancy laws, Settle cannot accommodate for bedrooms to be under lock and key. In case of emergencies, all doors inside the apartment must be readily accessible without the use of a key, especially if that bedroom leads to the fire emergency escape. You can install a lock in your closet / wardrobe to keep your personal belongings secure.
If you suspect a roommate is going into your bedroom without your express permission, notify us immediately by texting your Residence Manager.
What are the consequences of breaking Settle rules?
Settle has a zero tolerance policy for members who break our House Rules. Members who do not follow House Rules may receive a warning, followed by an eviction. However, we handle disputes on a case-by-case basis and reserve the right to immediately evict anyone who breaks any House Rules. Please be aware, members who are evicted from the premises will forfeit the remainder of the month’s rent, but may be eligible to recover the Security Deposit, upon satisfaction of the Security Deposit Refund Eligibility Requirements.
What are important things to remember regarding move-out day?
The move-out time is at, or before 11:00 AM sharp on the last day of your lease. Members who are not fully moved out by 11:00 AM on the last day of their lease will forfeit the Security Deposit. Residents are required to leave the room in clean condition or will be subject to an additional cleaning charge. All personal items must be fully removed from the apartment and the room returned in a condition ready for the next renter. Make sure to empty the fridge and dispose of trash. With that said, your Settle-stay is important to us until the very end. If you need a place to stash your belongings for a few hours on your last day, please email us so we can help you find a solution. Return your keys, set up mail forwarding, lock the property.
What is the roommate selection process?
We like to create a comfortable environment for everyone in the home. After approving your application and taking into consideration your lifestyle and personality with the current housemates, we send an email / SMS introduction for you to reach out and get to know one another. We understand how busy everyone is so if you’re not able to connect, you can still reference each housemate’s bio. Each potential resident is screened by our team and approved by the local Community Manager.
What if I want to move out of the apartment earlier then my agreement ends?
You can move-out earlier than your agreement ends by finding a replacement who will take over your agreement. Upon your written request, we will provide you with standard description and photos that you can use to find a replacement. Any leads you send us will still need to be approved by Settle through a video interview, tour, financial verification, and background check. If you have an interested lead, please send us the information and we’ll get the process going.
What are the penalties or consequences for terminating your rental agreement early?
You are required to give Settle 30 days’ notice prior to terminating your rental agreement. If you terminate your rental agreement before the end date, you will still be financially responsible for the rent up until the end date even if you move out. However, you are allowed to find a replacement for your rented room. After they are approved by Settle rental criteria, they can start a new rental agreement that will terminate your old rental agreement as well as your financial responsibility for the room. The person moving in doesn’t need to take over your specific rental dates, as long as they fit the minimum stay requirements (6+ months). If you do not provide adequate written notice to Settle prior to move-out, you will forfeit your entire security deposit.
Are utilities included in the advertised price?
Utilities are included with an additional fee.
Utilities include: internet, sewage/water, electricity, gas, trash/recycling, and a monthly cleaning service.
What items are the responsibility of the resident?
As outlined in the rental agreement or agreed upon prior to rental agreement, the following furnishings and services fall under the responsibility of the Settle resident:
Installation and/or assembly of personal furnishings, plumbing issues due to resident use and changing out lightbulbs after the first 30 days, disposal of trash, bathroom fixtures and disposable bathroom items and any additional items requested for common or personal space, such as blinds or curtains, beyond what’s specifically included on Settle’s service provisions.
Why do I see a processing fee on my bill?
Members who choose to pay via credit or debit card are also required to pay any processing fees. This fee is added to the total of the payment and is non-refundable. You are usually notified of the processing fee amount when you enter in your payment. At that time, you are given the option to switch to eCheck, which is free. You will be notified of the fee again before submitting payment.
How soon will I receive my security deposit after move-out date?
Security deposits are typically returned using PayPal / Venmo / Zelle: 8-10 business days after the rental agreement end date. After your move out, your room will be reviewed for any excessive damage that would impact your Security Deposit return. Normal wear and tear are expected. If you choose to extend your stay with Settle or book a new Settle room, your Security Deposit will carry over. If subsequent Settle stays are at a different rent price, your Security Deposit will be debited or credited to equal the rent price for your future most stay.
Air Conditioner Policy
Most Settle rooms do not come with central air conditioning unless it is specifically listed on the listing. Settle does not provide or install window AC units, although members are welcome to provide and install their own in compliance with local regulations if they choose. Please follow the Installation Guidelines:
- Make sure that electrical service is adequate. AC units should have dedicated outlets. Otherwise electricity will turn off in some areas of the apartment.
- Make sure the unit is installed securely. Support the unit from underneath, or firmly fasten it from inside with angles. You may use metal brackets, mounting rails, etc.
- Supporting metal brackets, interior angles, etc. should be structurally fastened to the building and must be strong enough for the size and weight of the AC unit.
- Objects or shims used to adjust the position of the AC unit must have an independent source of fastening or attachment.
- Secure leveling objects to prevent movement and shifting due to vibrations from the AC unit, wind and other weather conditions.
- Install the AC unit so it remains in place when the window is opened, or affix it so that the window can’t be opened accidentally.
- Tilt the unit slightly to provide water drainage, but don’t over tilt.
- Do not use loose objects – such as wood blocking, bricks, telephone books, gypsum board or cans – to support the leveling of the AC unit.
- Do not block fire escape windows or other exits with the AC unit.
What are the Wi-Fi credentials?
The username and password will be written on the actual modem / router
Does Settle residences accommodate couples?
We support everyone’s right to be in love! We just ask that you let it flourish in a full / private apartment. Settle bedrooms are for single occupancy only.
When is my stay and price guaranteed?
After you sign your contract with Settle, we lock your price and no longer change it until the end of your contract. Please note that we reserve a right to change your price after your contract ends. Settle uses dynamic pricing model and all rates depend on the selected home, room, duration of stay, move-in date, move-out date and other factors that we do not disclose. After agreement is signed, your price is final, non negotiable and is locked for the duration of your agreement.
What are the house rules for each apartment?
For example, how are quiet hours decided? All residents will be expected to agree and adhere to a common set of house rules.
- Not obstruct the driveways, sidewalks, courts, entry ways, stairs and/or halls, which shall be used for the purposes of ingress and egress only;
- Keep all windows, glass, window coverings, doors, locks and hardware in good, clean order and repair;
- Keep the common areas of the apartment clean which includes cleaning kitchen utensils & dishes after each use, keeping bathrooms clean & sanitary and cleaning old food out of the refrigerator;
- Not leave windows or doors in an open position during any inclement weather;
- Not cause or permit any locks or hooks to be placed upon any door or window without the prior written consent of Landlord;
- Keep all lavatories, sinks, toilets, and all other water and plumbing apparatus in good order and repair and shall use same only for the purposes for which they were constructed. Tenant shall not allow any sweepings, rubbish, sand, rags, ashes or other substances to be thrown or deposited therein. Any damage to any such apparatus and the cost of clearing stopped plumbing resulting from misuse shall be borne by Tenant;
- Tenant and guests shall at all times maintain order in the Premises and at all places on the Premises, and shall not make or permit any loud or improper noises, or otherwise disturb other residents;
- Deposit all trash, garbage, rubbish or refuse in the locations provided therefor and shall not allow any trash, garbage, rubbish or refuse to be deposited or permitted to stand on the exterior of any building or within the common elements;
- Not perform any activity that is reasonably likely to be disruptive or dangerous to other Tenants, members, their guests, or their property;
- Not smoke in the Apartment, Unit or Building;
- Not cause excessive noise in the Apartment, Unit or Building after 10:00pm;
- Not conduct any disorderly activity, which is defined to include any such activity that disrupts the normal order of the community;
- Not make, attempt to make, transmit, or attempt to transmit audio or video of any fellow Tenant, member or person in the Building in bathrooms, showers, bedrooms, or other premises where there is an explicit expectation of privacy, without the knowledge and consent of all participants;
- Not make or attempt to make audio or video recording of private, non-public conversations and/or meetings in the Apartment or Building, without the knowledge and consent of all participants subject to such recordings. In such circumstances, the use of undisclosed hidden recording devices is prohibited, as is the transmission and/or distribution of any such recordings;
- Not attach or affix any items to the walls, install antennas, or telecommunication lines or devices in the Apartment and Unit.
- Not make, copy or perform any non-accidental damage to information or other materials belonging to other Tenants, members or their guests;
- Not use the Apartment or Unit in a “retail,” “medical,” or other nature involving frequent visits by members of the public;
- Not make any copies of any keys or other means of entry to the Apartment or Unit or lend, share or transfer any keys or keycards to any third party, nor change or install any locks