REFERRALS TERMS AND CONDITIONS

 

 

 

 

 

 

 

 

 

 

  

KIPS BAY COURT REFERRALS TERMS AND CONDITIONS

 

 

 

 

1. PROGRAM TERMS OF USE 

 

As a member of Kips Bay Court (KBC) community, residents have the chance to participate in our Resident Referral Program. The Program is a great chance to invite friends and family into our community, earn rent credit in the process, and have your new neighbors save on their move. The specific terms and conditions of the program are outlined below and are subject to change at any time. Some units may be ineligible for referral rewards. Please contact our Leasing Team for any questions.

 

  
2. WHAT IS A PROGRAM AND CAN YOU PARTICIPATE

 

a. Program Participation

 

  • To participate follow the instructions on the Refer a Friend webpage to refer as many friends, family members or colleagues as you want to book a tour of the Property.
  • Residents who refer are called “Referrers”; individuals who are referred are called “Referred Friends”, “Friends” or “Referrals”. For every “Qualified Referral” (defined below), Referrer may be eligible to receive “Reward(s)” (also defined below), provided Referrer is otherwise eligible under, and fully compliant with, these Terms and Conditions.
  • We reserve the right to modify or amend at any time these Terms and Conditions and the methods through which Rewards are earned. We reserve the right to disqualify any Resident at any time from participation in the Program if he/she does not comply with any of these Terms and Conditions. Reward offer subject to change or withdrawal without notice. The Referred Friend’s application date governs what reward (rent credit) will be earned.

b. Eligibility Criteria

 

Referrers must be 18 years or older and a current “Tenant of Record” (defined below) of the Property. A “Tenant of Record” means an individual that is the tenant signatory to a current lease or renewal for an apartment at the Property.

 

c. Making a Referral

 

Referrers must respect the spirit of the Program by only referring real individuals who meet the requirements of these Terms and Conditions. Rewards can only be awarded for Qualified Referrals. A Qualified Referral means that all the following conditions are met:

  • The Friend came to the property directly without the use of a broker.
  • The Friend has named the Referrer when booking a tour.
  • The client may not modify in any way the referring resident’s name after the time of registration.
  • The Friend signed a lease.
  • Legal sublettors are not permitted to be the referring individual; however, sublettors transferring within Kips Bay Court as the referred client are subject to standard approval.
  • Resident referral rewards take 6-8 weeks from the referred residents’ move-in date to be distributed.
  • The Referrer is a Tenant of Record of the Property at the time a Referred Friend moves in.
  • The Friend is 18 years or older.
  • The Friend may not be a Current or Returning Resident of the Property at time of referral. A “Resident” means a Tenant of Record or an individual identified as an occupant of an apartment at the Property, as determined by KBC. Residents (Tenants of Record) cannot refer themselves or their roommates to the property (i.e. in the case of a transfer, upgrade, or roommate addition)
  • The Referred Friend can still receive a rent credit, even if their Referring Friend is no longer a Resident (Tenant of Record.) For the Referring Friend to receive their Rent Credit though, they must still be a Resident (Tenant of Record).

 

d. Earning Rent Credits

 

  • A Friend shall receive a rent credit valued at one thousand dollars ($500) upon move-in after signing a lease at the Property.
  • The Referrer will receive a rent credit valued at one thousand dollars ($500) upon the move in of their Friend, as long as the Friend has signed their lease and moved into the apartment.
  • Both the Referring and Referred Friend will receive the current value of the referral promotion offered at the time of the Referral Friend’s application, even if the credit amount was different at the time of the initial referral contact.

 

  
3. VERIFICATION QUALIFIED REFERRALS AND PAYOUT

 

 

a. Rewards are subject to verification

 

Rent credits are subject to verification. KBC may delay a Reward for the purposes of investigation. KBC may also refuse to verify and process any transaction KBC deems, in its sole discretion, to be fraudulent, suspicious, in violation of these Terms and Conditions, or believes will impose potential liability on KBC, affiliates or any of their respective officers, directors, employees, representatives and agents. All of KBC’s decisions are final and binding, including decisions as to whether a Qualified Referral, or Reward is verified. Referrers who receive rent credits in excess of $599 during a calendar year will be subject to federal income tax reporting.  All referrers who receive rent credits in excess of $599 during a calendar year and who do not qualify to complete a W-9 must complete a W-8BEN and will be subject to a 30% withholding of any such referral credit. 

  

b. Rent Credit process

 

Upon the completion of the verification process the referring and referred friend will receive their incentive in form of a rent credit. All rent credits will be applied weeks after the referred friend’s move in date.