Common Concerns

  • Late Charges: Rent is due on the first of each month and late after the third. A Late Fee of six percent (6%) of the monthly rent or $50.00, whichever is greater, is charged to the tenant after the third.
    Owners receive all late fees. On or about the 7th of the month a Three Day Notice is sent to each tenant that has not paid their rent or has a balance due.
  • Evictions: When necessary, PPM will serve a "3-day notice to pay or quit" and retain an eviction service or law firm to process the Unlawful Detainer (ie. "eviction") action. Court and attorney’s fees are  required to be paid in advance. Should eviction become necessary, a 3-day Notice is served to the tenant after the 7th of the month. The charge to the tenant for a 3-day Notice is $25.00, which is initially deducted from the owner’s trust account. Upon payment of the charge by the tenant, the owner’s trust account is reimbursed as reflected on the owner’s cash flow statement under the 3-day Notice income category.
  • Lock Box: In order to provide better security and ensure the availability of a key in the event of an emergency, each property may be installed with a permanent lock box to be placed on the building’s structure. The installation of the lock box is done in such a manner that its presence will not detract from the appearance of your property. The lock box will save you money by making it easier for our workmen to get into your unit to complete the turnaround process.
  • Trust Account Balances: By law, an owner’s trust account may never show a negative balance. Therefore, if a tenant’s check should be returned and results in non-compliance with this requirement, PPM will request funds from the owner within 24 hours to bring the account back to a positive balance. If the owner has more than one property managed by PPM, an account may have a negative balance, but only as long as it is off-set by a sufficient positive balance in the other accounts. In order to do this, PPM must have an authorization letter from the owner on file. Therefore, PPM requires each owner to keep a minimum balance equal to the security deposit (usually equal to one month’s rent) in each  account.
  • Non-Sufficient Funds: A tenant may pay rent by money order, cashier’s check or personal check. If a check is returned for non-sufficient funds or a money order is canceled, the tenant is charged a penalty fee of $35.00 which is initially deducted from the owner’s trust account to cover NSF charges incurred by PPM. Upon payment of the penalty charge by the tenant, the owner’s trust account is reimbursed. The tenant is warned in writing that they will lose the privilege of writing personal checks should NSF charges arise again in the future.
  • Proceeds Checks: As long as your tenant pays on time and the expenses for your property are not greater than the income it produces, PPM will provide you with the rental income for that unit. PPM will mail you a check on approximately the 10th of each month. If your tenant pays their rent after the 10th of the month, funds will be sent to you the week the rent is received.
  • Tenant Damages: If a repair to your property is necessary due to damage caused by the tenant, the  bill for the repair will be paid out of the owner’s trust account. The tenant will then be billed back, and  the owner’s account will be reimbursed.
  • Advertising: As part of our management services, PPM offers daily advertising of vacancies. A professionally designed PPM "FOR RENT" SIGN similar to those used to market properties for sale will be placed on site. In addition, your property’s vacancy will be posted to our web site at WWW.RENTSTOCKTON.COM. We will advertise on website at an expense of $50 one time charge per vacancy.  We will also advertise your home on craigslist and other online bulletin boards and websites as necessary.
    If a property is vacant at the time PPM is contracted to provide management services, the owner is required to provide PPM with funds in advance in the amount of $250.00 to establish a trust account.