Extra Benefits of the PTA Program
In addition to the $15,000 maximum liability waiver, the PTA program gives additional valuable benefits. This benefits are triggered if the entire building in which resident resides must be evacuated for over ten (10) days for repairs or reconstruction due to an accidental fire or flood, then resident will be entitled to the following benefits:
- Same-Month Rent Reimbursement - monetary reimbursement for any rent monies that have been paid by the resident for unused rent amount and in the month in which the incident occurred. this is intended to help with expenses of displacement and inconvenience, however resident may choose to apply this amount to replace personal belongings that were damaged or lost due to the incident. this reimbursement is prorated from the day that the incident occurred.
- Lease Termination Protection – PTA resident has the right to terminate the lease as of the date of the incident and move out of the property without liability for termination fees or stipulated damages. If resident exercises this right of early termination, resident is still entitled to receive prorated same month rent reimbursement as set forth above.
- Free Rent Vouchers - if PTA resident elects not to terminate the lease and rather to remain a resident at the apartment community then, in addition to the same-month rent reimbursement amount above, resident will receive additional free rent vouchers in the amount of $3,000 that can be applied to rent or to rent differentials on a substitute apartment on site.
Note: Free rent vouchers may be used at any time up to six (6) months from the date of the incident. they are not transferable to any other party or individual.