Frequently Asked Questions  PAGE 1 | 2  

Q:     What does signing a lease mean?

A:      A lease is a binding legal obligation.  You should not sign a lease unless you are sure you want
         the apartment.

Q:      What will happen if I sign a lease and decide not to come to PCT?

A:      You are liable for the apartment.  However, PSA will accept a suitable sublet, or will try to re-rent
          the apartment.  We have many people coming to our office, so it is very possible to find a new
          tenant if you give us adequate notice.

Q:      Will PSA hold an apartment?

A:      No, a signed lease is the only way to remove an apartment from the available list.

Q:      When is my rent due?

A:      Your rent is due July 1st and December 1st, unless you’ve made other arrangements with us.

Q:     What happens if I am relying on financial aid to pay for my rent?

A:     If you are relying on financial aid, you must tell us, and work out a payment plan.  Once the plan is
        agreed upon, you should stay with it.

Q:     What is a damage deposit?

A:     The damage deposit covers our expenses to repair your apartment if you engage in destructive
         behavior during the year.

Q:     Will I get the damage deposit refunded at the end of the lease?

A:     If we find the apartment in the same condition in which it was given to you, you will receive the full
        amount of your damage deposit.

Q:     What is a “Condition Report” and why is it important?

A:      When you receive your keys you will be given a Condition Sheet, on which you should note any
         deficiencies.  We will attempt to correct them.  At the end of the lease, we will compare your report
         with the condition of the apartment.  This report prevents you from being blamed for damages done
         by previous tenants.

Q:     When may I move in and out?

A:     August 1st, in plenty of time for registration and orientation, and May 31st, plenty of time after finals
        and graduation.

Q:     Where do I park?

A:     PSA offers off street parking to all tenants and most are specifically assigned spaces. You will be
given a parking pass to be displayed on your car.  All others will be towed.

Q:     May I stay in my apartment during school vacations?

A:     Yes.

Q:     May I rent during the summer?

A:     Yes if you are a current tenant or have a lease for the fall.

Q:     Do I have to move my furniture home during the summer?

A:     No, you may leave it in your apartment, or PSA will store it for free.

Q:    What about cable and computer hook ups?

A:    All of our apartments are cable ready.

Q:   What does Penn Square do to make the apartments safe and secure?

A:    All of our apartments have hotel locks, peepholes, smoke detectors, and fire extinguishers.   All of
       our buildings have locked front entrance doors, lighted parking lots and porch lights.  PSA also
       employs a night security officer to handle disturbances.  All of our buildings are within the 500 yard
       perimeter around the college which enables our buildings to be patrolled by both  the PCT police and
       the City police.

Q:    If I have a maintenance problem, what do I do?

A:    We encourage tenants to report maintenance problems.  We have a staff of three dedicated to
       maintaining our buildings 24/7.  You should call the office to report any problems, and our office
       manager (Sandy) will create a work order on the computer. She tracks the status daily. We also
       provide a pager number for after office hour emergencies. You are renting our organization, not just
       an apartment.

Q:   Where do I do my laundry?

A:   Many of our buildings have common area laundry facilities.  For those which do not, we have keyed
      access facilities in centrally located places.

Q:   Do I need Renter’s Insurance?

A:   Normally you should be covered under your parents’ homeowners policy ,but it is best to check.

Q:   Why should I only rent from the PCT Approved List?

A:   All buildings on the PCT list must undergo an annual inspection by the City Codes Department to 
      certify health and safety requirements.  Buildings not on the list may be unsafe and dangerous, and
      landlords may not reputable.

Frequently Asked Questions  PAGE 1 | 2