KRF Management 211 S 45th St, Philadelphia PA 19104 215/349-6500, fax: 215/349-6502 e-mail: krfapt@aol.com website: www.iconworldwide.com/krf online bulletin board: www.iconworldwide.com/krf/news

To:	Prospective Tenants
From:	Alan Krigman, President
Re:	Information about renting in University City from KRF Management

Thank you for taking the time to visit our web site.

KRF has about 30 apartments in the vicinity of 44^th to 45^th & Locust Streets, four to five blocks due west of the edge of the University of Pennsylvania campus. Most of our units are efficiencies or 1- and 2-bedroom apartments; a few are larger. They are in small buildings that were originally built as private homes and have been converted over the years for multi-family residency. Our prices are in the low-to-moderate range for the neighborhood, and we strive to provide an unmatched level of professional, prompt, efficient, and courteous service. You can learn more about our day-to-day policies by checking our on-line bulletin board at www.iconworldwide.com/krf/news.

Owing to an unexpected vacancy, we will have a newly-renovated first-floor two-bedroom apartment available for occupancy starting in the second week of January. It's on 45th Street a few doors south of Locust Street. Features include good closet space, hardwood floors, and direct access to the back yard, as well as a bright eat-in kitchen, new ceramic floors in the kitchen and bathroom, and double-glazed thermopane windows. Price is $925 per month including heat and hot water. Preference will go to a tenant who wishes to sign a lease through May 31 2009.

If you are seeking accommodations for the academic year beginning in June or September 2008, you should be aware that most neighborhood housing providers have 60-day notices and therefore do not have their listings until April. Inquiring or visiting to select an apartment or house before that time is generally a waste of time and money. However, if you will be new to Philadelphia, you would be well-advised to visit and make a choice as early after mid-April as possible. The selection of units even for occupancy in September gets very thin very fast. If it's not possible for you to visit in that time frame, you may want to consider the option of renting an apartment sight-unseen. This obviously isn't the best of all possible worlds, but it's better than getting stuck with nowhere convenient or affordable to live, or in a place that makes you feel uncomfortable. You might want to check our essay, (Click here: ) "Renting an apartment sight-unseen." This is an unbiased, if slightly jaundiced bit of advice, because we don't want an unhappy tenant any more than you want an unsatisfactory housing provider.

Many housing providers in this area gear rentals around the academic year, and therefore tend to have apartments available for occupancy in June, July, August, and September. This is the case with KRF. With us in particular, leases all end on May 31, although — in addition to a one-year renewal option — we have a provision that allows current tenants who wish to remain in their homes during the summer to extend their occupancy for up to three months.

A sample of the KRF residential lease used for the 2006-2007 rental season is online at krfleasr.pdf. The lease for 2007-2008 may change in some details but will be substantially the same as this. So, if you want to see the contract you'd be entering, take a look.

Security deposit plus first and last month's rent are required to take possession. These deposits are equal to one month's rent each. First month's rent will be prorated to the date of the lease inception if a tenant takes possession mid-month.

KRF does not charge an application fee. However, if you are not registered at a local university or your current local employment cannot be verified, a credit check will be necessary and you will be expected to pay for this before your application can be processed. In addition, the City of Philadelphia currently requires that housing providers obtain Certificates of Rental Suitability on all new (not renewal) leases. The cost to obtain the certification is $28.50. You will have to pay this cost in addition to the rent and deposits due, at the time you sign the lease.

We appreciate your interest
Al Krigman