Frequently Asked Questions
Where can I get a list of your rental properties?
All of our available properties are listed here under “Rental List.”
How can I take a tour of one of your rental properties?
Just go to the property you wish to view and click “Contact Us” then enter your name and contact information. We will be in touch to set up a showing for you. Or, you may call us at 858-272-3900 to speak with one of our friendly representatives.
When is your office open?
Our office is open for regular business from 9:00am to 5:00pm Monday through Friday and seasonally on Saturdays from 9:00am to 5:00pm (June – August).
Do I have to pay an application fee?
Yes. Our application fee is $45.00.
How do you decide if my application is approved?
Based on the results of your credit report and verification of rental history, employment and income your application is either approved or denied. We require that the renter(s) have a gross monthly income of 2.5 times the monthly rent and verify income through current pay stubs, W-2 statements and/or tax returns.
I’m approved! What happens next?
Once you are approved you must pay your security deposit at our office or by over-night mail within 48 business hours. You will also need to sign our Holding Deposit Agreement.
When will I sign my Lease?
You will sign your lease on or before your move-in day either by scheduled in office visit or electronically via DocuSign.
How can I pay my rent?
Your first month’s rent must be paid with cashier’s check or money order on or prior to move-in day. Subsequent rent payments will be made on the first of each month and may be paid online, by mail or dropped off at our office.
My lease is almost up. What am I supposed to do if I want to move out?
Our lease requires 30-day advance written notice to terminate.
What if I need to move before the lease expires?
If you wish to terminate your tenancy before the end of your lease, you are responsible for rent until the end of the lease or until a replacement tenant can be found. If you need to terminate early, you will want to contact your property manager as soon as possible to discuss how to move forward.
What happens if only one roommate wants to move out?
If one of your roommates wishes to leave, you will contact your property manager to discuss options to remove that tenant from the lease.
Can I get a pet after I move into the property?
Unless a property is designated as pet friendly, you are not allowed to have a pet. If your property is pet-friendly, you will need to contact our office your property manager to complete a pet addendum and pay an additional security deposit and additional pet rent may apply.
Can I install cable or satellite TV at the property?
Depending on the property, installation of a dish may be possible. Written permission from Penny Realty is required in advance of any installation. If you are interested in having satellite television, please ask us as soon as possible.
Can I paint or modify something in my rental property?
This is not allowed under the terms of the lease. Modifications to the property can only be made with Penny Realty’s written permission.
How do I report a maintenance problem?
You may submit maintenance requests online or by calling your property manager at 858-272-3900. If your maintenance request is an emergency and our office is closed, our phone message will have instructions on how you can contact our emergency maintenance line.
What is considered an emergency?
Maintenance emergencies involve eminent danger to property or person. These are situations that may seriously impact the habitability of the property and need immediate response. Examples of these situations are floods, loss of heat or water, loss of hot water and sewer drain back-ups. If your emergency involves injury or fire, do not call us and call 911 immediately.
Should I purchase my own policy of renter’s insurance?
Since renter’s insurance is designed specifically for the needs of a renter and covers things the owner’s policy may not be required to cover and is usually reasonably priced. Penny Realty requires every tenant to have a valid Renter’s Insurance Policy. Proof of this insurance policy is required before move in. You are welcome to purchase your own policy or can purchase through Penny Realty for a fee of $11 per month.
What is the move out procedure to get back my security deposit?
Per California law, you are entitled to request an initial inspection no more than 2 weeks before your move out date to give you notice of any possible issues and give you the chance to correct them. After your move-out, we conduct a thorough inspection of the vacant property we take photos of the vacant property then take care of do any needed cleaning and repairs. We refund the remaining security deposit.
When can I expect to receive my security deposit refund?
California law requires that a detailed security deposit and remaining funds be mailed no later than 21 days after the date you give back possession of the property to us. We try to do this as quickly as possible but it can may take up to the maximum time if there are delays in scheduling or invoicing the work on the property.