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On-Campus Housing and the Emeriti Community

On-Campus Housing and the Emeriti Community

The Stanford campus is home to many emeriti faculty. The following outlines general policies that may be of interest to the retiree community. These are the current general policies. See specific provisions in your lease and loan documents. The terms retiree and retirement on this site refer only to Official Retirement as defined by Stanford University at http://benefitsu.stanford.edu/retiree/when.html.

When an Eligible Person Retires

  • Faculty and staff who own a campus home at the time of their retirement in an eligible position may continue their campus lease until their death (maximum 10 year limit at Olmsted Terrace).
  • The Eligible Person must continue to maintain the campus home as his/her primary place of Thinkerresidence.
  • If no Eligible Person owns and lives at the property, the property must be sold within two years (one year at Olmsted Terrace). 

When an Eligible Person Dies

  • If an Eligible Person dies and leaves a Surviving Spouse or Partner, the Surviving Spouse or Partner may become the Eligible Person based on the terms and conditions of the Eligible Person's lease. Occupancy after death is limited to a maximum of 10 years at Olmsted Terrace.
  • The Surviving Spouse or Partner must continue to maintain the campus home as his/her primary place of residence.
  • If no Eligible Person owns and lives at the property, the property must be sold within two years (one year at Olmsted Terrace). 

When a Retiree Sells a Campus Home

  • Eligibility to purchase homes on-campus is limited to (1) active faculty who meet the eligibility requirements and (2) retirees who own a campus residence and wish to down-size to a condominium at Pearce Mitchell or Peter Coutts. At Olmsted Terrace, all houses must be sold back to Stanford.

When a Retiree Lives Off-Campus

  • A retiree who lives off-campus may not purchase an on-campus home, regardless of whether or not the retiree has ever owned a campus residence.

Other Housing Programs

Housing Allowance Program (HAP)
The Housing Allowance Program (HAP) terminates upon retirement.

Stanford Loans

  • The Mortgage Assistance Program (MAP) can be retained after retirement. 
  • Certain Stanford loans are due upon retirement or death.  See note for due date provisions.
  • Effective July 1, 2006, DIP and DIP-T loan borrowers may amend their loans at retirement to a DIP-R (Deferred Interest Program at retirement). A current interest rate equivalent to the then current MAP loan current interest rate will apply. The amendment of the loan must occur prior to retirement. Other changes also apply. Download the current DIP document for more detailed information.
  • No new assistance programs, including loans, are available to a retiree.

 Informational Documents Available from Faculty Staff Housing

Frequently Asked Questions

  1. How do I list my campus home in the Homes for Sale list?
  2. Do I have to use a real estate agent to sell my campus home?
  3. Can I get a listing of actual house prices for campus homes?
  4. What are the plans to develop housing at the Stable Site?
  5. Are there any plans to develop senior housing for Stanford retirees?
  6. Can I get a reverse mortgage on my campus home?
  7. When did the policy of campus purchase by off-campus retirees change?
  8. Are policies subject to change?
  9. How do I put my home in a trust?
10. How do I extend my lease?
11. Can I rent out my campus home?

1. How do I list my campus home in the Homes for Sale list?
You may list your home by following the directions at Homes for Sale and Rent.  You may also contact Faculty Staff Housing at 650-725-6893 if you do not have access to a computer. 

2. Do I have to use 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.

3. Can I get a listing of actual house prices for campus homes?
Yes.  A history of recent sales is available at Campus Housing Sales.

4. What are the plans to develop housing at the Stable Site?
There are no plans to develop housing at the Stable Site at this time.

5. Are there any plans to develop senior housing for Stanford retirees?
At this time Stanford has no plans for developing specialized senior housing.

6. Can I get a reverse mortgage on my campus home?
Stanford has no restrictions against a reverse mortgage.  Please ensure that your new lender is aware that you and your lender will continue to be subject to all the provisions of your lease. Leaseholders should review carefully all the terms and conditions of a reverse mortgage. There are no University loan programs for retirees.

7. When did the policy of campus purchase by off-campus retirees change?
The eligibility policy was modified on June 1, 2000 so that a retiree off-campus may not purchase a campus property .

8. Are policies subject to change?
Yes. Housing policies and practices are subject to change at any time.

9. How do I put my 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.

10. 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. No extensions are available at Olmsted Terrace.

11. Can I rent out my campus home?
An active employee may temporarily rent out his or her campus home during the duration of an approved University leave. Rental eligibility is generally limited to those who meet the eligibility criteria.  A home must remain the Principal Place of Residence of the Lessee. 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.

 

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Important Notice
Nothing on this site or in the documents it contains should be construed as an offer or commitment of any kind. Programs and eligibility requirements can be changed or discontinued without notice.


 
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