For residents and fellows
History: The Lease Guaranty Program was created to remain competitive with other local teaching hospitals’ offerings to residents/fellows
Purpose: To ease the burden of high housing costs in Boston for residents (including interns), and fellows.
How Program Works: The Landlord agrees to accept no more than $200 deposit from resident/fellow. In turn, resident/fellow authorizes Boston Children’s Hospital to deduct any fees (greater of up to two months’ rent or $6,000) from the resident/fellow’s paycheck should the resident/fellow fail to reimburse the landlord for costs exceeding the <$200 deposit. Reasons for costs may include breaking the lease, damages to the apartment, etc.
Eligibility: Residents/Fellows who are salaried through BCH
Lease Guaranty Procedures:
1) Resident/Fellow requests information either through Program Director or the HR Service Center
2) HR Service Center provides required documents to Employee
Lease Guaranty Program Documents Include:
- Boston Children’s Lease Guaranty Program – Summary of Program
- Indemnity and Salary Deduction Authorization – the resident/fellow’s agreement for salary deduction to reimburse Children’s Hospital Boston for any costs paid to landlord
- Landlords Accepting Lease Guaranty – (note: residents/fellows are not limited to this list; any landlord willing to accept the terms is eligible)
- Summary of Lease Guaranty Procedure – summary of required procedures, to be signed by resident/fellow to agree to the terms and conditions
- Lease Guaranty Agreement – to be completed with landlord/residence information (to be obtained from lease) and sent to landlord for signature
3) Resident/Fellow to submit following:
- Document demonstrating eligibility for program (e.g. acceptance letter into the program)
- Complete and sign Indemnity and Salary Reduction Authorization Form
- Signed copy of Lease Guaranty Procedure
- Copy of Lease
4) Children’s Hospitals HR Service Center completes Lease Guaranty and sends two copies to landlord for signature
5) Landlord signs and returns one completed form to the HR Service Center within 14 days
6) HR Service Center authorized representative signs and sends signed copy to landlord
Termination of Guaranty: when resident/fellow no longer enrolled in the Graduate Medical Education Program. It is the responsibility of resident/fellow to inform the HR Service Center.
Questions, please contact the HR Service Center at 617.355.7780 or via email to HRESC@childrens.harvard.edu