Owner Frequently Asked Questions

• Am I required to make my property available to Section 8?

  No you are not required to make your property available to Section 8, however if you wish to do so we can assist you in this. For more info on section 8 please click here

• Are you licensed?

  Yes we are all licensed in the state of Florida to perform real estate services. We are also members of the National Association of Residential Property Managers and Osceola County Association of Realtors.

• Can I reach you after hours?

  Yes you can reach us out of office hours for emergencies on 863.512.5238

• Can you put the money directly into my account?

  Yes this is our preferred method of payment to you.

• Do I get to see the lease or sign it?

  Yes you can sign the lease. If you are out of the country or state you can sign a power of attorney and have us sign the lease on your behalf.

• Do you sell real estate too?

  Yes we do. We have a seperate website for our sales, it is www.prdavenport.com. We offer special management rates if you buy directly from us.

• When do I get my checks?

  Typically your rent is paid between the 10th and 15th of each month direct into your bank account.

• How is rent collection handled?

  Tenants can pay rent online 24/7 via the tenant portal, they can also pay by money order or check.

• How long of a lease do you sign?

  Most leases are 12 months but it all depends on the Homeowner Association rules and regulations of where your property is located. Some HOA’s only allow 7 month leases.

• How much security deposit do you charge the tenant?

  We charge a minimum of one months rent as a security deposit. In some situations we may charge more.

• How soon can you start managing my property?

  We will have you complete our management agreement and get to work immediately.

• What type of properties do you manage?

  We manage single family homes, condos and townhomes.

• What type of reports do I get and how often?

  You will get a monthly management statement detailing income and expenditure. Owners Statements can be accessed 24 hours a day, 7 days a week through our online owner portal. We typically post these statements on or around the 15th of each month. Year-end statements are also available at your convenience.

• Who holds the tenant security deposit?

  We hold the Tenant security deposit.

• Should we allow pets in our property?

  It is your decision, here at Providence Realty we love animals and the nation agrees with us, over 68% of the nations homes have pets! With a shortage of pet friendly rental properties we encourage you to accept pets and you can decide on what pets you are comfortable having in your property. Some HOA’s have pet rules on breed type, weight, amount of pets etc so we will check with HOA first!

• What if my tenant doesn’t pay the rent?

  Rent is due on the 1st. We give a grace period of 3 days for tenant to pay rent. If rent is still not received we will send the appropriate notice to the tenant. If not rectified by the date on the notice we will start eviction proceedings.

• How long does an eviction take in Central Florida?

  Usually an eviction takes anywhere from 30-60 days, this all depends on the circumstances of each eviction and the court schedule.

• How will the IRS know that I rent my property?

  If you receive any rental income your management company must report this income to the IRS, they are required to file IRS Form 1099-misc (for US Citizen or US Resident) or 1042-S (for Non-Resident Alien) to report the amount of rental income collected on your behalf during the tax year. This form is also copied to you. We do require a filled out and signed W-9 (for US Citizen or US Resident) or W-8ECI (for Non-Resident Alien) from all of our owner/investors.

• Do I have to turn on utilities when the property is not rented?

  Yes we require all of our owners to have utilities on when the home is vacant, the humidity in Florida can cause mold problems if the air is not working in the home, we also need to be able to check plumbing and electrical items in the home and last but not least your property will show better when the utilities are on.