How and when will I receive my rent?
Rent is collected from the tenant between the 1st and 10th of the month. Around the 12th of the month (though the date may vary based on weekends and banking holidays) money is transferred into your account and an email statement is sent.
What do I get at the end of the year to help me prepare my taxes?
In January you will receive a 1099 tax statement as well as the yearly statement showing all income and expenses handled by Eagle Management, LLC. You may have other expenses that are not paid by Eagle Management, LLC. Be sure to keep track of the expenses for tax time.
Can I use the security deposit now and give it back when the tenant moves out?
No. Maryland law requires the security deposit to be put in an escrow account with a federally insured financial institution doing business in the state of Maryland. Interest from this account must be paid to the tenant.
Why do I have to pay the tenant 3% interest on the security deposit when I can’t receive that return from the bank?
Unfortunately the landlord is required by Maryland law to pay the tenant 3% interest. In prior years it has been even higher. For a number of years the Realtor organization and the National Association of Residential Property Managers (NARPM) has tried to have the law changed. However, the MD Legislature has not passed a bill to make the change. Please call you state delegates and senators.
How do I pay the rent and can it be done automatically?
Checks (cash is never accepted) can be mailed to Eagle Management LLC at 15823 Crabbs Branch Way, Rockville, MD 20855. If you want to have your rent automatically sent from your bank to us, you can fill out the “Authorization Agreement for Automatic Rent Payment”
How often should I change the air filter in the heating system?
Every 3 months. Changing the air filter is very important and is required of the tenant by the lease. The benefit to the tenant is clean air in the home and also lower utility bills. When the filter is dirty, less air can flow over it, causing the HVAC system to work harder to cool the home in the summer and heat it in the winter.
Is the tenant responsible for any maintenance items?
Yes, the tenant has the following responsibilities: (See the lease for complete details)
- Furnace filter replacement
- Batteries in smoke alarms
- Notifying us if the smoke alarm is not working
- Caulking of bathtubs and sinks
- Resetting of circuit breakers
- Replacing light bulbs
- Cleaning of dryer lint trap and vent, and
- Tenant is also responsible for keeping drains clear
- Cutting, Trimming, Maintaining of yard
- Remove Snow & Ice from walk, steps and drives
- Gutter cleaning