Rensselaer Polytechnic Institute

 
Homes for Sale by Rensselaer
 

Faculty Staff Housing Agreement

 
The Faculty Staff Housing Plan is a Program that was approved by the Board of Trustees over 24 years ago. The Program stipulates that Rensselaer would buy houses contiguous to the campus and sell them to Faculty and Staff with an agreement that they would give Rensselaer first right of refusal if they ever resold the house.
 
It also gives Rensselaer the right to buy the house/property back with a year's notification. This is not only good for the neighborhood but also for the property owner, because it protects the neighborhood. If someone were to buy a house in the neighborhood and trash it or not take care of it, and it had this agreement attached to it, Rensselaer would be able to exercise this agreement and with a year's notification buy this house back.
 
We presently have over 40 of these agreements in place. The buyback portion of the agreement has never been exercised in the many years that it has been in effect.
For a copy of the Faculty/Staff Agreement Faculty/Staff Housing Plan

 
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