Terms of Enrollment

The HOME program is provided by The Realty Associates L.L.C. The Realty Associates is solely responsible for the rebate provided to the resident upon home purchase.

The HOME credit is funded as closing as a portion of an earned real estate commission by the Realty Associates; therefore, it is required that The Realty Associates receive a commission as the buyer’s representative in the home purchasing transaction.

Participation in the program will terminate and all credits will be forfeited upon default of a lease contract with Fairfield by, among other things:

• Failure to pay rent when due which results in eviction
• Vacating the community without providing Fairfield notice and payment of fees
• Otherwise being evicted from the community for other non-rent breaches
  

Fairfield Residential has the right to terminate this program at any time at its sole discretion. If Fairfield sells the community at which the resident resides, the accrual may cease as of the sale date. Enrollment in the plan will not terminate as a result of the sale as long as residency at the same community is maintained.

Credits may continue to be accrued if moving to another community managed by Fairfield Residential.

Credits are only available if renting from a Fairfield residential community at the time of home purchase.

Credits are earned upon clearance of each month’s rent check received by Fairfield Residential.

In no case may the equity credit exceed 1% of the total sales price of the home.