Initial Statement and Commitment

Initial Rent Statement

GPL will send an initial statement with the followings:

• Initial terms for the lease agreement

• A ledger summary with demanded amount of payments and deposits 

Commitment and Payment

Make a commitment with an initial payment

The Tenants need to make a commitment by making a full payment of the initial demanded amount before making the lease effective. The initial payment is usually a large amount. In order to make this payment in a secured way, the Tenants may want to go to a local bank in person. 

The Initial down payment and deposit Payment - Reminder:

• Please come to a bank and work with a bank teller. 

• Please always write down the property's address such as “123 Street” on a deposit slip. 

• The deposit must be in cash or a cashier's check (verifiable, not money orders) or in-bank transfer. 

• You can take a picture of a cashier’s check if applicable and send it to 408-634-5320 for verification. 

• In this way, you have a bank teller and deposit slip as evidence of the transaction.

• Please take a picture of the deposit receipt and text back to 408-634-5320 so that we can verify quickly.

If the Tenants don’t have to run to a local bank, the Tenants may use Zelle to make the initial payments. Just keep in mind that it will take several days due to some daily limitations.

Proration

The day Tenants make a full payment is not necessarily the day the rent is charged. The rent will be prorated based on the actual move-in day in the subsequent month.

For example, a Tenant made a full payment on day 1, sign up with the utilities on day 2. GPL will transfer the keys no earlier than day 2. The Tenants move in on day 3. The second month rent will be prorated based ($Rent) * (30 - {day3}) / 30 days.