Rental Property Management FAQ

 

General property management FAQ

Do you have an emergency answering line for tenant and building emergencies?

Yes. Tenants can call 24 hours a day 365 days a year in case of any maintenance emergency.

Do you handle evictions?

Yes, we can send the proper legal notices and then can coordinate the actual eviction with an attorney. The attorney fees are the responsibility of the owner.

Will I need to set-up bank accounts for the property Owl is managing?

No. We set-up a bank account for each owner for the operation of their property. Because of our relationship with our bank, there are no charges for this account.

Will I have to hold the security deposit(s)?

No, we prefer to hold the security deposits to ensure that the deposits are handled legally. You are not charged any additional fees for this service.

Does Owl run background checks on tenants?

If we manage the leasing of a property, yes, we run credit and background checks on all of our tenants. We check criminal history, credit history, and for past evictions.

How will I receive the rental income from the property?

We typically send all of our payments to owners via ACH so the funds are deposited directly into your bank account without you incurring any charges. If you prefer an actual check, we can accommodate that as well

I already have a leasing agent I would like to use, can I just use Owl for property management and not leasing?

Yes, absolutely. We are happy to work with any leasing agent you have a relationship with, we just ask that they use our lease documents when they find a tenant.

Is Owl willing to work with contractors that I prefer?

Yes, we are happy to work with any insured contractors you have previous relationships with, except in emergency situations. If an issue in a unit needs immediate attention and we are unable to reach your contractor, we will use one of ours to ensure the issue is taken care of in a timely manner.

Is Owl Management insured?

Yes!

I do not want Owl to pay some bills for my property (i.e. taxes, mortgage payments, etc), is that okay?

Yes, we do not require that owners have us pay all bills. Owners are welcome to continue to pay any bills related to the property that they prefer.

Does Owl Management work with any overseas clients?

Yes, we work with both investors and homeowners living out of state and overseas. We are accustomed to accommodating Skype and international phone calls. We can also accept and send money via wires when necessary.

 

Individual condo unit, townhome and single family home management FAQ

If I am renting out a condo unit, townhouse or single family home, what type of insurance do I need?

You need dwelling coverage for a tenant-occupied property. This is not the same as homeowner’s insurance for an owner-occupied property, so you will need to be sure to have it switched over or be sure to purchase the correct type. We can refer you to an agent who specializes in these types of coverages if you would like.

Are fees charged when the unit is not rented?

If the unit is vacant when you sign an agreement with us, no management fees are charged until there are tenants in the unit. During subsequent tenant turnovers, if there is a period of vacancy between tenants, when we manage painting, repairs or cleaning, the management fee will continue to be charged.

What if I decide to sell my property, but we are still under contract?

Our contacts have a clause that allows you to cancel the contract at no charge if you decide to sell the property.

Will the tenant have my contact information?

No, you are protected from any tenant calls and e-mails. We will manager all tenant communications and ensure they follow all the rules of their lease.