Owner FAQs

Communication is the key to a successful property management relationship. You are assigned an experienced Property Supervisor as your day-to-day contact. You will also have a dedicated Client portal where you will have access to property documents, inspections, and monthly financial reports. Residents have their own portal to request and track maintenance requests and pay online. We also offer 24/7 emergency maintenance coverage.

Your Property Supervisor will do a market survey of rents charged for similar rental units in your area. We are also leasing units on a daily basis, and are very familiar with the market and changing rents. Based on this information and consultation with you, the Property Supervisor will determine an asking rent that appears competitive.

EGL Properties starts the marketing process as soon as we are advised of a vacancy. We place ads on all the popular apps, with professional photography including virtual staging and video tours. Because of our reputation, many prospects contact our office directly. We make it easy for applicants to view vacancies and apply directly through our website.

EGL typically screens and approves the residents, as our staff is trained in issues such as credit screening and fair housing. Our software has very strict parameters for determining credit worthiness. In addition, we check all applicants’ rental history and verify employment. We are very careful in choosing residents, as we have to interact with them on a daily basis. In other words, it’s to both our advantage to choose carefully!

When your resident vacates, we will provide all required accounting of the resident’s security deposit within the time legally allotted. If there are damages they will be deducted from the security deposit. We are allowed by law to charge the resident’s deposit for rent, damages above normal wear and tear, and cleaning. We want you to know that we consider this an important time in the management cycle, and we will protect your interests.

When a property first comes under EGL management, an interior and exterior inspection is scheduled as soon as possible to determine if there are any health and safety issues that need to be addressed. This includes such items as smoke detectors, water leaks, or trip hazards. Obviously, if there is a vacancy, the property will be shown as appointments and open houses are scheduled, sometimes on a daily basis. Once the property is full and the initial inspection has been done, the Property Supervisor will schedule regular drive-by and walk-through inspections.

Residents can pay rent through our website or by dropping off payment at our office by the first of the month. When the rent is received it is immediately placed in a trust account. At this point, all bills that EGL is directed to be paid are paid. The remaining disbursements are made on the last day of the month.

EGL is very aggressive in rent collection. If rent has not been received from a resident by the 5th of the month, EGL will serve a three-day notice to pay or quit. We do our best to work with residents to keep units occupied, but if a resident has lost their job, falls ill and can not pay rent, and chooses to stay in the residence, EGL works with a highly experienced eviction attorney to regain possession of the unit. Our attorneys are reasonable in cost and work exclusively with management companies.

When you hire EGL, we become responsible for your property 24 hours a day. There is always a senior staff member on call to quickly address emergencies. And, we have access to vendors who can respond in an emergency, no matter what the hour.

EGL often continues to use an owner’s regularly scheduled vendor, such as the gardener or pool service. While we are happy to use your own vendors, one important benefit of EGL’s management is that we have developed relationships with vendors, such as plumbers or electricians, who charge low rates and are reliable, because EGL gives them a significant volume of business. You, as the owner, benefit from these vendors’ excellent service and prices.

EGL always attempts to improve your bottom line, and one way is to control expenses. For major repairs, such as re-piping or re-roofing, several bids are obtained, and EGL will get your written approval. However, if there is an emergency, such as a burst water heater, a government inspection requires certain work, or, a routine repair is requested, such as a leaking faucet, or broken toilet, then EGL will go ahead with the work and keep you informed. Our vendors are reasonable and reliable; otherwise, EGL would not utilize their services. In addition, if it is discovered that a resident caused the damage, we charge the resident for reimbursement of the repair expense.

Clients have access to their own dedicated online portal where they can easily access their current and past monthly financials. These reports are easy to read and can be tailored to their specific needs. In each report, at a minimum, we include an Executive Summary highlighting major issues, a Rent Roll, an Income & Expense Statement, a Ledger of the Broker’s Trust Account, and an Expense Register with copies of all bills paid. The best part is that the year-end statement can be provided to a CPA for easy tax preparation.

Our software can easily disburse funds based on pre-assigned percentages. We can also send our monthly reports to more than one owner.

You wouldn’t drive without car insurance, or go without health insurance. Similarly, as a landlord, you must have insurance to protect yourself from the unexpected. If you don’t have insurance in place, EGL can provide you with the names of several agents to contact and obtain proper coverage.

Our management fees are very competitive and reflect our expertise and commitment to excellent service. We have found that poor management can have a very high cost. When ALL fees are considered, we are actually less expensive than most companies around.

When we say, Professional Property Management, we mean it! There is no better choice for your investment and peace of mind. Contact us at info@eglpropreties.com or (310) 481-0922, ext. 241 to sign up with EGL Properties today! 

When you add the management company as an “additional insured” on your insurance policy, it helps protect both you and the property manager in case of any claims related to the property. This ensures that if an incident occurs, such as property damage or injury, the management company is covered under your policy, reducing potential conflicts and providing a unified defense.

At EGL Properties, our management agreement, like most, requires that the owner “indemnify” and hold the management company “harmless” in most circumstances, excluding cases of gross negligence. Without an endorsement on your general liability coverage naming EGL as an “additional insured,” the burden falls on you, the owner, to cover EGL’s defense costs and any resulting judgments, which can be extremely expensive. By naming us as an “additional insured,” you effectively shift this responsibility to your general liability insurance, ensuring that both you and our team are covered in the event of any unforeseen circumstances. This not only protects your interests but also strengthens our ability to manage your property effectively, with aligned coverage and reduced liability concerns.