Returned Check Policy and Upcoming Changes
Current Returned Check Policy: There will be a charge of $50, plus a late fee payment of $50, for any returned check plus any applicable bank charges. CERTIFIED CHECK, CASHIER'S CHECK or MONEY ORDER must cover returned checks. However, after two returned checks, you will be required to to pay your monthly rental payments by certified check, cashier's check or money order. Please note: checks are only deposited once. Postdated checks are not acceptable.
 
Please note that all residents who have been notified that they must pay by certified check, cashier's check or money order MUST ALSO PAY THEIR GAS BILL with a certified check, cashier's check or money order. Thank you.
 
EFFECTIVE JANUARY 1, 2008 Returned Check Policy
The returned check fee will increase to $50. Please note that this policy has changed. If a check is returned to our office, the resident will be responsible for the returned check fee and any applicable late fees.
 
Reminder!
The Roanoke Valley attracts visitors and residents because of its spectacular natural beauty. In most areas or Roanoke, neighborhoods are located close to forests and wilderness. Please remember not to approach or feed any cats, dogs, groundhogs, foxes or any other wild animals. Please call 540-562-3265 with Animal Control concerns.
  
Birthday Contest
If your birthday is this month, please contact the rental office by the 20th to register for the birthday drawing.
 
Free Parking
No one wants to hunt for a parking spot after a long day. Please do not park more than one car near the building, and tell your guests to park across from your building. With everyone's help, we'll each find a VIP spot to welcome us home.
  
New Policies Regarding Resident Transfers
Residents are allowed to transfer to a different apartment within the community with a $300 non-refundable transfer fee and written notice of intent to transfer. In addition, a new reservation deposit fee of $345 is due upon notice of intent to transfer.
 
The transfer is available to all residents with the following conditions:

• The requested apartment type must be available. If the requested apartment type is not available, the resident must remain in the original apartment until availability permits the transfer.
• Pre-authorization of transfer will include a review of all previous account activity. Account must be in good standing with a satisfactory payment history.
• The transfer will be pending a pre-moveout inspection conducted by a member of our management staff. We reserve the right to decline a request to transfer apartments based upon the pre-moveout inspection results.
• We cannot process an intent to transfer without all deposits/fees paid.
• Signatures must be present from all leaseholders/guarantors on all paperwork, including Resident Transfer Within Community Addendum to End Lease, Notice of Vacating, and all other necessary lease agreement/addendums.
• Resident utility accounts (gas, electricity, etc.) must be in good standing for transfer to be approved.

• Like rent money, your mortgage interest is essentially "wasted." It goes neither to improving the property nor building equity. It's simply a fee for the privilege of living in your house. Have you ever heard anyone ask a fellow homeowner "why they are throwing all of the money away to the bank?" It is unlikely since most of society tells you to buy a home!
• Remember that all ofyou receive a Standard Deduction on your taxes every year and your mortgage interest only starts to become a tax benefit when it exceeds your standard deduction. At that you point, you receive anywhere between 28 - 33 cents for every dollar that you spend in mortgage interest (depending on your tax bracket). If you think about it, why would you want to give someone a dollar and only get back 28-33 cents?
• Buying a home should not be about what you can afford, it should be about wasting as little money as possible. Let's say that average rents for a 2 bedroom in your area are between $750 and $900 but average mortgage (including taxes and interest) is around $1300 or $1400. You'd actually be building more assets if you rented, and put the additional $400 to $650 in a mutual fund.
• Some people want the home owning lifestyle - due to societal pressures; many people want to SAY they have a home. Others want more space (both inside and outside the home). Either of these reasons is more emotional in origin. Regardless of the reasons, it's important that you are honest with yourself on why you want to own a home.
• Many people want the renting lifestyle - no maintenance,no unforeseen expenses to fix the water heater, leaving for a week on vacation and having nothing to worry about, more cash to invest or use for travel, college, etc.
• When should you buy The easy answer is when the combined home maintenance expenses, mortgage interest, taxes and insurance equals your rent! The two ways to go about this is to find an inexpensive home (hard to do in many areas) OR save up for a down payment equal to at least half the price of the house to minimize your payment.
• Again, be honest with yourself about the pros and cons of purchasing a home.