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Frequently Asked Questions

For Leaseholders

  1. What is the process for doing home improvements?
  2. Who is responsible for a diseased or dead tree in my front yard?
  3. What is the process for selling my campus home?
  4. Do I need a real estate agent to sell my campus home?
  5. Can I get a listing of actual house prices for campus homes?
  6. What is the process and to whom can I rent my campus home?
  7. How do I put my campus home in a trust?
  8. How do I extend my lease?
  9. Can I gift my campus home to my children after I die?
  10. What is Ebix BPO?

1. What is the process for doing home improvements?

Please refer to the Home Improvement FAQ and Residential Subdivision Building Regulations.  Submit a completed Home Improvement Application to obtain Faculty Staff Housing’s approval of your work.   Peter Coutts and Pearce Mitchell homeowners may also have to obtain approval from their respective homeowners associations.  Homeowners must apply for and receive permits from Santa Clara County after all Stanford approvals have been secured.

2. Who is responsible for a diseased or dead tree in my front yard?

Please contact Faculty Staff Housing and we will determine whether it is a Stanford or private tree.  If it is a Stanford street tree, Stanford will remove and may replace it.  Otherwise, a homeowner will be responsible for removal and may be required to replace it with another tree.

3. What is the process for selling my campus home?

Please refer to How to Sell An On Campus Residence.  When you are ready to list your home, you may do so at Homes For Sale.  Faculty Staff Housing does not list off-campus homes for sale.

4. Do I need a real estate agent to sell my campus home?

It is your choice.  Faculty Staff Housing provides all the forms and disclosures necessary to sell your home without a real estate professional.  Many sellers choose to use a real estate agent to show their homes, negotiate with buyers and their agents, and complete the inspections and paperwork.  The negotiated commission is generally paid by the seller to the seller’s agent.  The seller’s agent then shares the commission with the buyer’s agent if there is one.  Some sellers choose to hire a real estate attorney instead of a real estate agent to facilitate their transactions.

5. Can I get a listing of actual house prices for campus homes?

Yes.  You may do so at Campus Housing Sales.

6. What is the process and to whom can I rent my campus home?

An active employee may temporarily rent out his or her campus home during the duration of an approved University leave. A home must remain the Principal Place of Residence of the Lessee. Rental eligibility is generally limited to those who meet the eligibility criteria.  Please refer to your lease and condominium homeowners associations for other rental restrictions, including allowable rental terms. Please notify fshousing@stanford.edu of the name, eligibility, and term of any renters. You may list your campus home for rent at Homes For Sale and Rent.  You may also wish to list your home in the Stanford Report, Community Housing Services, or local newspapers. 

7. How do I put my campus home in a trust?

Upon receipt of a completed request form included in Assigning a Lease to a Trust, Stanford will prepare a document called an Assignment, Assumption, Consent, and Amendment of Lease (AAC&A) to allow a Lessee to transfer leasehold title from the individual Lessee to the trustees of a trust. This document is recorded.  Stanford will work with the Lessee’s attorney if requested to facilitate this transfer. If the name of the trust or the trustee changes at a later date, a new AAC&A must be prepared and recorded to reflect these changes. In the event of any conflict, the lease provisions prevail. This includes requirements of residency and eligibility of ownership.

8. How do I extend my lease?

Stanford will consider a lease extension upon request from the Lessee based on its current policies. Situations which can trigger a lease extension can include selling a leasehold, a lease term expiration within three years, or a mortgage lender requiring an extended term to approve a mortgage. Since Stanford has been leasing its residential lands for decades, many forms of the Residential Lease are in effect. In general, a lease may be renewed and restated for a maximum term of 51 years under the provisions currently in effect.

9. Can I gift my campus home to my children after I die?

Your lease will prevail over any estate planning document.  Upon the death of the last surviving eligible person, the estate is required to sell the property under the terms of the lease. Your estate planning document will specify how the proceeds will be distributed.  If you wish to place your home in a trust, please complete and submit an AAC&A request form.

10. What is Ebix BPO?

All current lessees must maintain insurance on their campus homes. The lease requires that Stanford be notified of the type and terms of the insurance. The University has contracted with Ebix BPO to assist in tracking and monitoring insurance information for campus residents.

The University provided Ebix BPO with the current insurance information on file. Ebix BPO will review the information for compliance and contact the insurance agent with questions or for additional information. Ebix may contact lessees directly if a policy has lapsed or if no information is on file.

New Homebuyers | Current Borrowers

 

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