Frequently Asked Questions for Owners
Do I have a written agreement with the Management Company?
Yes. We provide property owners with a Management Agreement outlining our services that can be renewed each year.
How do I prepare my property for the rental program?
The recommendations for the contents and condition of the property are outlined in the management package. The better the condition, the less likely you are to incur maintenance costs and the more likely you are to maximize occupancy. Owners are also provided with information for ensuring a healthy and safe environment for residents.
How do you market a rental unit?
Initially, we will take marketing photos of the property. These along with information from the property profile report and our market analysis of the property and comparable units allows us to present it effectively. We utilize a wide range of media and technology resources including our multiple websites, numerous other websites that syndicate our information throughout the internet, internet and Google ads, Facebook, YouTube, print materials, signage (where permitted), and by referrals through our expanded network of professional associates and our extensive database of clients and customers.
How do you screen prospective tenants?
Tenants are screened based on a variety of criteria which includes a consumer credit report, criminal background report, eviction report, previous/current rental references, employment and income verification. If there is a deficiency in any of these areas, we may request additional information and or security deposit monies.
Do you require security deposits?
Tenants will pay a refundable security deposit typically equal to a month’s rent. In cases of a furnished property, utilities or services provided by the landlord, pets allowed or concerns based on the tenants screening profile, additional deposit monies may be required.
Is an inventory taken of my property if it is furnished?
Yes. A detailed inventory is taken when your property first comes on our rental program and then on an annual basis or when the tenancy changes. After a tenant vacates, we will inspect the property for cleanliness; damages, alterations, or maintenance issues; and any missing items or furnishings.
Do you inspect the property during a tenancy?
Yes. We generally perform a walk-through inspection of the interior and exterior of the property 2 to 4 times per year during the first year and typically 1 to 2 times during subsequent years of the tenancy if previous inspections show the tenant being responsible and caring for the property. We also perform “drive-bys” every month or so to verify that our standards and any HOA rules are being met.
How is maintenance handled?
Our experienced maintenance team is utilized for repairs and maintenance services to the property. All work is handled in a professional manner and efficiently performed to minimize the inconvenience to the tenants. If the problem requires a specialized vendor, we will use reputable professionals with reasonable fees. Charges for repairs are reflected on the owner’s monthly statement. If the issue is due to a tenant’s negligence, they will be responsible for the fees involved.
How are emergencies handled?
CVAR is always on-call for emergencies. Tenants are provided with our contact information as well as contact information for police, fire and rescue services. Residents are also provided with information on preparations and evacuations for hurricanes or named storms that may include specific preparations for your property.
Do I ever have to deal with the guests or the property?
No. Coastal Vacation & Annual Rentals will handle all property issues for you. We will communicate with owners but there is no expectation or need for owners to have communication with guests or be involved with services at the property. Residents are not furnished any personal information of the owner. We also handle the eviction process with the local magistrate’s office in cases of default.
What if I want to sell my property?
Please notify us as soon as possible if you intend to sell the property. We have sales agents in our professional network that we can refer to you or we will work with your existing agent. The agent will need to coordinate with our office for access and to verify showing times so that we are not intruding on our tenants. We strongly encourage owners to consider listing after a tenancy has terminated and the unit has been vacated. In cases where this is not an option, we try to set specific days or times for showings.
When do I get my money and monthly statement?
Statements are processed monthly and typically emailed on or around the 15th of the month. Proceeds will be direct deposited into your bank account. You will also receive an annual statement for your tax processing needs at the end of the year.
Do I need a business license?
Possibly, depending on what city your unit is located in. If your unit is in North Myrtle Beach or Surfside Beach, we will send you a form to complete and return and you will have a license fee. If your property is in Myrtle Beach or Horry County, CVAR will provide the license but owner will provide the license fee.