Megalandlord Archstone-Smith, which has a portfolio of over a dozen luxury rental buildings in the metropolitan area, will let new tenants walk away from their leases if they lose their jobs, Bloomberg reports. The "Archstone Lease Assurance Program is open to those who sign or renew leases before March 21, and tenants have 45 days after a job loss to cancel their contracts without penalty. Archstone has also recently been the subject of some RentChopping. [Bloomberg]
Filed under: