Off-Campus Living Guide for Parents
What You Should Know About The Penny on College Main
Your student is looking at The Penny for next year. Here's the straightforward information most parents ask our team for, before the lease is in front of anyone to sign.
The essentials, before your student asks you for a hundred more questions.
- Furnished bedroom, living room, and full kitchen are included in rent.
- Each resident leases their own bedroom individually, not the whole unit.
- Both a guarantor path and a self-qualification path are available.
- Maintenance requests go through a resident portal, with after-hours support for emergencies.
- The community is managed on-site by Coastal Ridge Real Estate.
A Practical Choice Near Texas A&M
A few of the reasons this property tends to come up in your student's search.
What's In Place at the Community
No community can promise or guarantee safety, but here's what The Penny has in place, and how maintenance issues get handled.
24/7 Front Desk & Concierge
Staffed front desk and concierge service in the first-floor lobby.
Secured Structured Parking Garage
Resident parking is housed in a secured structured garage rather than an open surface lot.
On-Site Management Office
The management office is on-site, so day-to-day questions and issues can be handled in person.
After-Hours Emergency Support
Lockouts and other maintenance-related emergencies are covered by after-hours support outside regular office hours.
What the Monthly Rate Includes
A clear look at what's bundled into rent and what's billed or arranged separately, so there are no surprises after move-in.
| Item | Status |
|---|---|
| Furnished bedroom & living room | Included in rent |
| Full kitchen (refrigerator, dishwasher, microwave) | Included in rent |
| In-unit washer & dryer | Included in rent |
| Community amenity access | Included in rent |
| After-hours lockout & maintenance support | Included in rent |
| Reserved & unreserved parking | Available; ask the leasing team about current terms |
| Pet fees & deposit | Billed separately; ask the leasing team for current policy |
For current rent amounts, application fees, and any additional charges, contact the leasing team directly. Pricing depends on floor plan and current availability.
How Qualifying Works
Many students need a parent or guardian involved in some part of the application. Here are the qualification paths The Penny offers, so you know what to expect.
Guarantor / Co-Signer
A parent or guardian can guarantee the lease on your student's behalf, which is the more common path for students without independent income or credit history.
Self-Qualification
Students who meet the property's income and credit criteria on their own may qualify without a guarantor. Ask the leasing team whether your student's situation fits this path.
Lease Terms Worth Reviewing Together
A few terms we'd suggest reading closely with your student before they sign.
| Individual lease | Each resident leases their own bedroom, not the full apartment. |
| Roommate requests | Preferred roommates can be listed on the application, but placement isn't guaranteed and depends on availability and management approval. |
| Early lease exit | Handled through a relet process, subject to management approval; relet fees and other lease obligations may apply. |
| Unit transfers | Requests go to the management team and are subject to availability and approval; approved transfers may carry a transfer fee. |
| Renters insurance | Ask the leasing team for the current requirement. |
| Smoking policy | The Penny is a no-smoking community. |
| Overnight guests | Allowed, with limits on length of stay per the lease agreement. |
Questions Parents Ask Us
What if my student needs to break the lease early?
Residents who need to exit their lease before the end date may be eligible for a relet process, subject to management approval and required documentation. Relet fees and other lease obligations may apply. Contact the leasing office for the specifics of your student's situation.
Do I need to be a co-signer or guarantor?
Not necessarily. The Penny offers both a guarantor path, where a parent or guardian guarantees the lease, and a self-qualification path for students who meet the criteria on their own. The leasing team can help determine which fits your student.
What happens if my student and their roommate don't get along?
Students can list a preferred roommate on their application, though placement isn't guaranteed. If a living situation isn't working, a unit transfer request can be submitted to management, subject to availability, approval, and a possible transfer fee.
Is my student's apartment furnished?
Yes. Every floor plan includes a furnished bedroom with a full-sized extra-long bed, study desk and chair, dresser, and nightstand, plus a furnished living room and a full kitchen.
How do maintenance requests get handled?
Residents submit maintenance requests any time through the resident portal, and the maintenance team responds as promptly as possible. Lockouts and other maintenance emergencies are covered by after-hours support outside regular office hours.
Is The Penny pet-friendly?
Yes, The Penny is a pet-friendly community with an on-site dog wash and dog run. Contact the leasing office for current breed, weight, and deposit details.
Does my student need a car?
Not necessarily. The Penny is within walking distance of Texas A&M and the Northgate district. For students who do want one, both reserved and unreserved parking are available in the community's secured structured parking garage.
Who can I talk to if I have more questions?
Parents and guarantors are always welcome to contact the leasing office directly. Our team is happy to walk through the lease, the application process, or anything else on your mind before your student signs.
Have More Questions?
Our leasing team is happy to talk through the lease, the qualification process, or anything else on your mind before your student signs.
Call (979) 205-4638 View Floor Plans