Learn More About Coastal Long Term Rentals Professional Property Management
What is Property Management?
Property management is also known as real estate management that encompasses all aspects of running an income or investment property. From finding and screening tenants to maintaining the property, collecting rent, to handling any maintenance issues that arise.
Why Use a Professional Property Management Company?
Professional property management can make owning and profiting from rental properties a hassle free experience for any owner especially if the owner is thousands of miles away.
Can I choose to disallow pets, smokers, large families, etc.?
We comply fully with the Fair Housing Act. This means that you can not choose to disallow anyone that is a member of a protected class under the act. You can choose to disallow pets and not permit smoking in your home, but you cannot deny a service animal. If you have additional questions on the specifics of the Fair Housing Act, please see our fair housing page.
When do you mail the owners check and statement?
Owner’s checks are direct deposited around the 10th of each month and statements are emailed on or before the 25th day of every month. The check and statement reflect activity in your account for the preceding month.
Do I lose control of my property once you start to manage it?
No. We work for and with you. We allow you to be as involved or uninvolved in the management of your property as you would like. Most property owners don't want to deal with the headaches and tenant complaints and just check their bank statement each month.
If my property is vacant, do I still pay a management fee?
No. Management fees are only earned when rent is collected. No fee is payable when your property is vacant. We also cover all the advertising, marketing and tenant screening fees.
How do I know you wont spend large sums of money?
In the management agreement, we set a dollar amount which cannot be exceeded without owner approval except in cases of emergencies.
How do you determine the rent amount?
We use many tools to determine the appropriate rental rate for your property. Primarily, we rely on our vast experience with leasing similar properties. We also conduct a comparative market analysis to determine what other similar properties are receiving in rent.
How long will it take to lease my home?
Homes typically rent between 30-45 days. The condition of the property, overall strength of the rental market and the rental price all have major impacts upon the speed by which the property rents. Yet many times Coastal Rental Company has secured in as little as 24 hours.
How much security deposit do you collect?
Typically, the deposit is the same as one month’s rent. We also collect cleaning and pet deposits if applicable.
Who holds the tenants deposit?
The tenant’s deposit is held in an non interest bearing escrow account administered by Coastal Rentals LLC in accordance with South Carolina jurisdictional requirements.
How do you find a tenant?
We use signs, flyer’s, our vast network of real estate agents in our offices, word of mouth, and several forms of online marketing to find qualified tenants.
What if a tenant doesnt pay?
Rent is due on the first and become late on the 5th and the tenant will be charged a fee for every day after the 5th it is late. If the tenant has not responded by the 10th, we initiate the eviction process.
What if the tenant does damage to my property?
The resident will be responsible for all damages beyond normal wear and tear. If the tenant does damage to your property, money will be held from their security deposit. If the cost of repairing the damage exceeds the amount of the security deposit, you can sue for the additional amount owed.
How often do you check the condition of the property?
Interior condition inspections are typically done once per year or at move in/ out; our seasonal rentals usually monthly. Other inspections may be performed if one of our vendors notices something “unusual” at the property or per property owners request. We perform exterior inspections monthly when property is vacant and we ask to be added to your HOA contact list for tenant violation notifications.
What happens when a tenant gives notice to vacate?
We verify that the tenant has provided proper notice, usually a 30 day written notice. If they have, we inform you that the property will be coming vacant and, with your consent, we begin looking for a new resident. We survey the condition of the property and start any preventive maintenance or repairs need.
What do you do if the tenants are not taking care of my property, or you discover unauthorized pets?
We immediately contact the tenant and give the tenant an opportunity to correct the situation. Usually they will. If the problem persists, we will make a decision based on that specific situation which includes filing for eviction.
Do you insure my property when you manage it?
No. You maintain your own insurance coverage. However, we will gladly recommend insurance companies interested in writing insurance on your property. We also encourage and provide tenants with renter insurance quotes.
Do you handle problems late at night and on weekends?
Yes. We have an after hours emergency repair number direct to a property manager. Tenants submit work orders via the online web portal for normal repairs. Our office is usually open half day on Saturday for property owners and tenant issues.
How soon can Coastal Rental Company start managing my home?
We can start the process immediately! All our documents are signed via online with electronic signature or we can schedule a time for you to sign at our office. Call our office at (843) 290-0911 or email us at info@coastalrentals.com for more information. Remember you pay $0 until your property is leased to a quality tenant.
