Credit Builder – Build Your Credit Score and Save Money

credit builderLeverage your largest monthly expense to start building your credit today.

My credit report was low because I didn’t have much history or many cards, even though I’d never been late on a rent payment. Using Credit Builder helped me show the world I was actually a qualified buyer. Thank you!

Brynn S. (Logan, UT)

Without good credit, people can’t get the house they want, the loan they need, or the car they’re dreaming of. That’s why it is important to take any opportunity you have that can raise your credit score.

At University Park, we offer our residents to do just that with CreditBuilder, which helps to raise credit scores on average 20-40 points every year through reporting on-time rent payments.  

Credit scores are important because they can determine your credit approval, and lower scores may cause extra fees to be associated with approval if a score ranges from 300 to 600. Not having an established credit history for at least three years and late payments can both negatively impact scores.

Renters using CreditBuilder have their monthly lease payments automatically reported to multiple credit bureaus, so if they don’t have any credit cards or loans, rent payment will help to start establishing credit. 

Guarantors or parents who help pay the monthly rent will also benefit from CreditBuilder. With monthly rent payments being reported to help build credit, the renter or student will begin to build their own credit, so the guarantor won’t have to co-sign for any future credit requirements.  

Through a resident portal, CreditBuilder also allows residents who enroll access to a wide range of  financial tools and education such as:

  • industry-leading money management tools
  • debt-to-income ratios
  • budgeting software
  • financial education and advice

All of these tools are a great way for residents to get started on their path to financial responsibility. CreditBuilder also won’t immediately report late rent payments from negatively impacting scores since it only reports late payments if they aren’t made within 30 days. 

The longer someone is on a lease and having their payments reported, the more payment history will impact their credit score. On-time payments can account for up to a third of the total, so that can go a long way in improving your score!

Learn more about Credit Builder

View the brochure here. To get started building your credit, contact us today.

Where Should I Live? Student Housing vs. Residential Housing vs. Campus Housing

student housing graphicWhen looking for a place to live in Knoxville, there are a bunch of different options for you to choose from, including off-campus student housing and campus living. 

Comparing and contrasting the prices, locations and amenities/features will help you select which option is the right one for you. 

The list below is a comparison of University Park to other student apartments, rentable houses in Knoxville and dorms/apartments available through The University of Tennessee (UTK). All pricing is accurate as of the time this blog is posted.

Campus Living

Communal Dorm – Average for Double/Shared Room – $899

Suite-Style Dorm –  Average for Double Room/Shared Bathroom – $970

Apartment-Style Dorm – Average for Four Bedrooms, Two Bathroom – $1,151

There are a lot of different options for campus living. While most dorms come furnished, each option varies on whether it has a kitchen and a common area.

At the University of Tennessee, the university provides cable and WIFI, and utility costs are included in the price. 

The communal dorms are a single bedroom with access to a large bathroom shared by everyone on a floor. Suite-style dorms are either a shared single room with a bathroom attached or two rooms with two people each and a shared bathroom for all four people. 

Living on campus would also mean that the resident would have to buy a parking pass for a noncommuter, which is close to $300 for a full year. 

Houses for Rent

Average for Two Bedroom, One Bathroom – $900

Average for Four Bedroom, Two Bathroom – $1,650

When searching for a conventional apartment or house, the features and amenities will be different for each house. 

Some have in-unit washers and dryers, but most have hook-ups for a washer and dryer. Most options are not furnished, so renters would need to bring their own furniture sets as well. Renting a house would also mean losing access to property features of apartment complexes, like a large pool, hammock gardens and a sand volleyball court.

With this option, utilities and WIFI are the responsibility of the renter, so that would add extra bills for the cost of setting up an internet connection, and getting the electricity turned on.

There’s also no roommate matching or individual lease liability for houses, so renters would be entering a lease with someone they already know or found. You would also be responsible for the full rent amount if a roommate was unable to pay their rent. 

Main Market Competitor 

Two-Bedroom, Two Bathroom – $639, $669 per bedroom

Four-Bedroom – $480 per bedroom

The complex is about two and a half miles away from UTK and downtown, so a little farther than University Park. 

The features of the apartment unit are all the same, in terms of what is included and the type of flooring, except that the kitchen doesn’t have a garbage disposal. They include water in the sum of their market rent price and there is an option to add on $30 for electric, with additional billing if the electric usage exceeds $30.

Their clubhouse also features a computer lounge, a fitness center, a tanning bed, a hangout area, a volleyball court, and a pool.

They have a basketball court and sundeck, whereas University Park has hammock gardens, a fire pit, and two dog parks.

There is free parking on-site and a shuttle that will take UTK students to campus.

University Park

Two-Bedroom, One Bathroom – $640 per bedroom

Four-Bedroom, Two Bathroom- $480 per bedroom

University Park is less than two miles away from UTK and downtown. Each bedroom in the apartment unit is rented to a single person, and each roommate is individually responsible for their share of rent and utilities. 

Every apartment at University Park is equipped with:

  • all the kitchen appliances
  • a washer and dryer
  • a full-furniture set in the common area and bedrooms
  • WIFI and cable
  • Carpeted bedrooms 
  • Wood flooring in the common area and bathrooms 

The vanity area has two sinks with separate cabinet space. Each bedroom door comes with its own lock and key. The complex also offers roommate matching. 

The office and clubhouse are located in the center of the property. In the clubhouse, residents have access to:

  • a computer lounge with free printing open 24/7
  • two workout rooms
  • a Starbucks coffee machine
  • a tanning bed
  • a pool table
  • study nooks, other seating, and a large flat screen smart tv

Residents have access to a large, resort-style pool and the furniture within the pool gates. Beside the pool, there is a full-sized sand volleyball court, and residents have access to a volleyball kept in the office. Two large charcoal grills are also in the area with two picnic tables. 

There are also two hammock gardens, one on each side of the property. One of the gardens also has a large fire pit encircled by two concrete benches.

The most recent addition to the property is two dog parks. One is for dogs 50 lbs. and over and one for 50 lbs. and under. They both feature obstacles for the dogs and seating for their owners. 

Residents have free access to a trash compactor and parking. UTK students can also ride the KAT bus from University Park to campus.

Why is University Park the right choice?

University Park is very close to the college and downtown and provides a shuttle to take students to campus, but residents don’t have to pay the cost of living on campus. 

The property features a lot of activities residents can spend their free time doing that houses don’t offer, and each apartment comes furnished with utilities already set-up. You can also read our blog post on The Top 10 Reasons to Live at University Park.

University Park runs very closely with its market competitor but overall offers more to its residents. 

Visit our website or call (865) 409-2955 to schedule a tour or contact us about our specials and learn more about how University Park is the right choice for you!

By: Ashley Depew, Leasing Consultant

Top 10: Why to Live at University Park

10 reasons to live at University Park

When looking for a new place, there’s usually a list of “must-haves” people keep in mind while touring apartments. Some people like to be close to downtown, while others want to be able to come home to a quiet environment where they can kick back and relax. 

Whether you’re looking for a pet friendly home or a place to meet new people, University Park has a little something for everyone!

10. Friendly Staff

When looking for an apartment, having an on-site staff that you can communicate with can make a big difference.  We want you to trust us to not only create an environment where you can voice your concerns but also to just stop in to say hello or relax! Don’t avoid the office, interacting with our residents is one of our favorite parts of the job.

9. Cable/WiFi

With our society becoming more digital, today’s renters rate reliable cable and internet at the top of their list in terms of importance. Gigabit internet and cable are easily accessible to you and included in your rental installment, so you’re able to focus on other things like homework and catching up on your favorite shows.

8. Interactive Community

We love when our community gets together and participates in our resident events. Between events like Breakfast-on-the-Go to Super Bowl watch parties, we’re always looking for different ways to have fun. Follow our social media pages and keep us updated on things you’d like to do too!

7. Space

With individual leasing, it’s important to have your own space. At University Park, having your own bedroom, shared common space, and access to a number of amenities means you’ll have plenty of it! You’ll also get raised beds, plenty of closet space and the ability to put up all the shelves you want (without having to use command strips)! 

6. Fully-Furnished

No furniture? No problem! We’re a fully furnished complex. In the bedroom, we provide everything including a dresser, desk, chair, mattress and bedframe. You’ll also have access to kitchen appliances, couch, armchair, coffee table and even a washer and dryer!

5. Amenities

Looking for something to do on the property? We have a little something for everyone for whatever your interests are! You can lounge by the pool and work on your tan. If it’s winter, you can take the opportunity to use our tanning room! You can set up a movie date in the clubhouse and relax or study in one of the desk nooks. You can join in on some competitive fun in our volleyball court. 

You’ll also have access to: our 24-hour business center, gym and cardio center, pet park (for large and small dogs), hammock gardens, and fire pit. As for everyone’s favorite, stop by the clubhouse for a hot cup of joe from our Starbucks machine!

4. Pet Friendly

Those of you bringing your furry friends, University Park is the place for you and your pet. There’s a one time only $400 Pet Fee and no pet rent. Take them to the pet park to run around and enjoy the sun. Or if you’d like some company, join our pet group chat when you move in, and you can even schedule puppy playdates with other residents in the community!

3. 24/7 Emergency Maintenance

Here at University Park we also offer a few additional services like 24-hour emergency maintenance, weekly pest control and even an on-site Courtesy Officer. You can count on our maintenance team to help out any time in the event of a flood, electrical issue or if you experience any issues with your HVAC unit. 

2. Convenience

Everyone wants to live in an area that is conveniently located. Our complex is only about 3-5 minutes from Downtown and the University of Tennessee’s campus where you can enjoy the farmers market, nightlife and access to all sorts of events. We’re also a stop on Knoxville Area Transit’s bus line that’ll take you to and from Neyland Stadium right from the property. 

We also give you access to pay your rent online and enter maintenance requests directly through your resident portal! You can check balances, set up auto payments, and access a calendar of that month’s resident events.

1. Best Rates in Knoxville

We often get asked, “What’s the best part about living at University Park?” We have the best rates in Knoxville with the best value! Cable, internet, and trash are all included in your rent, so you only have to worry about utilities, which you can also pay through your resident portal!

Visit our website or call (865) 409-2955 to schedule a tour or contact us about our awesome specials!

By: Lalita Tinari, Leasing Consultant