Property Management FAQs

As licensed Realtors, Black Bear Rentals, Inc is committed to supporting the guidelines of the U.S. Fair Housing Act (Title VIII of the Civil Rights Act of 1968), as amended, which prohibits discrimination in the rental of housing because of race, color, religion, sex, handicap, familial status, or national origin. State and local governments may impose additional requirements. We are required to comply with all laws, rules, and regulations pertaining to the real estate industry – including the Fair Housing Act and regulations surrounding data protection.

We require all tenants to fill out an online application. This application gives us rental and financial information, allows us to conduct a credit check and background check and check references.

We collect a security deposit, and a refundable pet deposit (if applicable). Monies are held in an escrow account at Truist in Asheville, NC. If you choose to use us for marketing only you are responsible for collecting, holding and accounting for deposits in a trust account.

Most owners will receive a deposit directly from our bank to yours through an ACH transfer. We initiate ACH payouts as soon as rent payments have cleared. ACH payments can only be made on business days. Weekends and holidays may delay payouts. Please understand we do not have control over when a tenant pays rent despite the lease agreement or how they pay, but we make every effort to assure rent is paid on time. Late fees and Pay or Quit notices are issued on the 2nd of the month, the first day rent is considered late. The date of the month your payout will be made will vary dependent on when the tenant pays rent.

Management agreements renew yearly and can be terminated with 30 days notice. The remainder of the commission for the current lease will be due upon termination if you terminate before the end of the lease term, unless otherwise agreed. This is detailed in the Property Management Agreement.

Tenants report maintenance issues directly to us through their portal, by email or phone. We will notify you of any requests requiring repair and arrange for service.

The rule of thumb is that if you provide it, you are responsible for repairs or replacement, unless we can prove misuse by the tenant.

We pay invoices first and foremost from the maintenance fund or rent proceeds. You will see the paid invoices attached to your monthly statement. In rare cases you may be asked to pay a vendor directly or make an owner’s contribution for materials prior to work commencing. Invoices are charged at face value. In some instances the repairs may be re-charged to the tenant.

We will arrange, in concert with you, for yearly servicing for HVAC’s, fireplaces/woodstoves, yard work, etc.. We will facilitate the scheduling of those items with the tenant and vendor.

Management agreements renew yearly and can be terminated with 30 days notice. The remainder of the commission for the current lease will be due upon termination if We measure fuel (oil/propane) at the beginning of the tenancy and expect the tenants to leave approximately the same amount at the end of their tenancy. This expectation is written into the lease agreement, stated in the New Tenant Procedures form, and again in the Move Out Procedures. We measure again when the tenant moves out and debit or credit them using the current market rate. terminate before the end of the lease term, unless otherwise agreed. This is detailed in the Property Management Agreement.

Whether or not lawn care is provided is an owner decision and we can advise you on the pros and cons. Either way, we encourage owners to provide a periodic “clean up” consisting of trimming trees, shaping shrubs, mulching, etc..

After a tenant moves out, we conduct a walkthrough of the property. We have 30 days from the end of the tenancy in which to return the security deposit or give an accounting of the money. We can only charge for actual damages incurred. We cannot charge for reasonable wear and tear (including painting and cleaning carpets) unless it is due to excessive wear and tear. Please read the brochure on our website tenant security deposits or google NC General Statutes regarding Tenant/Landlord Law for more information.

Black Bear Rentals is committed to managing issues to avaoid evictions. However, we will take care of eviction if necessary. We will notify the tenant, prepare the paperwork and attend the hearing on your behalf. The cost of filing is an owner expense. The magistrate may give that back to the owner as part of the damages in a judgement, but that is not guaranteed. More complex evictions may require the assistance of an attorney.