Vacancy Buyout

If space allows, residents in double or triple rooms who find themselves with an empty bed in their room may pay to convert that double (or triple) room into a single (or double) room by paying for a “Vacancy Buyout”.  This is allowed on a case-by-case basis when adequate space is available.  The cost of a buyout is the price of a comparable single room + 2%.  For example, a single in an Essential RISD room is $7,450 per semester with meal plan.  To buyout a double room in an Essential RISD room, the price will be $7,450 plus $149 (2% of 7,450) which equals $7,599 per semester.  The total increase from living in an essential RISD double ($6,425 per semester) is $1,174 per semester.  Similar increases will be seen in other room types.  The extra cost over a single covers the additional space and furniture provided in a double room versus a typical single room.  Buyout charges added mid-semester or mid-year are pro-rated based upon the time.  In the event that a buyout space is needed to be used due to overcrowding or for emergency housing, a full refund of the buyout cost difference will be issued for the entire semester.  Students may only buyout a space at defined times at the beginning or end of each semester, or within 7 days of a roommate moving out.  No buyouts will be accepted in cases where a student is attempting to move into a vacancy and the buyout is being used to block that relocation.

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