Student Housing Sub-Lease Agreement

The University of Louisville is seeking a private owner to enter a master‑lease (or affiliation) arrangement for an off‑campus student‑housing complex of roughly 350‑700 beds. The University will sub‑lease the entire property to its students for the 2026‑2027 academic year, with the option to extend up to four additional one‑year terms. The owner must provide all utilities, maintain safety & security systems, furnish a fully‑operational residential environment, and meet extensive reporting, insurance, and occupancy‑percentage requirements (minimum 85 % U‑L students). The contract includes an annual affiliation fee per bed and detailed obligations for staffing, security, marketing, and compliance with Kentucky and federal regulations. • Lease term: Aug 1 2026 – Jul 31 2027 (12 months) with up to four optional one‑year renewals. • Scope: Full‑complex master lease; owner supplies utilities, security, maintenance, ADA‑compliant facilities, and 24/7 key‑card access. • Financial: Annual affiliation fee $150 per capacity bed (~$105 k for 700 beds) payable in advance; additional net‑savings reimbursements and owner‑borne insurance costs. • Obligations: Owner must meet Kentucky Building Code, fire‑marshal approvals, provide weekly resident rosters, conduct semester‑wise fire drills, and allow University review of marketing materials. • Termination: Either party may give notice by Oct 1; ownership may terminate at contract‑year end, with specific cure periods for defaults.