Show Me The Money
What is the name of the Title company that holds our lease purchase (RTP) escrow deposits?
RealTech or TRG
In the lease creation modules, What is considered one major difference between the lease purchase (RTP) and rental (NRTP) lease creation tasks?
RTP has Verify Escrow Account.
If there is a squatter situation and the resident scheduled move-in date is tomorrow, what is the only option?
Terminate with a full refund.
For an lease purchase (RTP) home, If HPA provides a fridge for the home, what is the amount added to the purchase price?
$1,800 will be added to the purchase price.
What is the only method can a resident use to pay the Deposit on a rental (NRTP) home?
Wire Transfer
When can a lease purchase (RTP) lease be fully executed by an authorized signer?
After the home has been marked closed in the system.
When is the only time we offer to transfer?
When the lease has NOT been executed.
Are residents allowed to opt out of the Second Nature program?
Yes! sarting November 7th, all new residents will have the choice to select whether or not they want to participate in the Air Filter program at the time of application submission for rental applicants and when completing the resident request form for our lease purchase residents.
For a rental (NRTP) home, when should the resident be sure to include the following full months rent payment with the Prorated move-in funds?
Anytime after the 25th of the month.
If a resident is adding another occupant, what is the minimum age to be considered a leaseholder?
18 years of age.
Are residents able to have a two-year lease agreement?
Yes, with a 5 percent increase for the 2nd year
What would happen to the deposit if the resident for an lease purchase (NRTP) lease reaches out to cancel 7 days before the move-in date?
They would forfeit the deposit.
When is the move-in funds due?
Within 72 hours of the move in date.
What state requires a wet signature on a portion of the lease rental (RTP) lease?
North Carolina
How far in advance will the resident need to notify Lease Admin that they are canceling and be qualified to receive a full refund of their deposit on a (rental) NRTP home?
14 days before the commencement date.
What out of pocket costs does the deposit cover if the applicant forfeits the deposit and cancels?
Inspection costs, BPO costs, and closing costs.
Who do you contact when the deposit is not posted to the resident ledger?
accountsreceivable@Pathlightmgt.com
At what stage in the process is the resident required to review and sign the resident approval form?
Once the resident application is approved and before going under contract on a home.
What are the reasons we would refund the full deposit on a rental (NRTP) home?
Death of a leaseholder and rent can no longer be affordable, The home was incorrectly advertised, and they cancel 14 days before the commencement date, squatter, holdover
We recently went under contract to purchase a RTP home for the resident and they called in and no longer want to proceed with the home. What does this mean for the resident?
They forfeit the deposit and will be disqualified from the program moving forward.