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Owner FAQ

Frequently Asked Questions

 
When can I expect to receive my payment?
Currently HMC disperses rent payments to owners via ACH/direct deposit, unless otherwise directed, on the 15th of each month. Some of our competitors hold back your payment for the first month, but at HMC we pay you the same month we collect rent for your properties.

How often do you send out owner statements?

We send our owners a monthly statement via email, or by regular mail upon request. This statement will contain information about rents collected for your properties and expenses related to your properties and maintenance.

Will HMC send me a 1099?
Yes, once a year we will be sending you a 1099, required by the Internal Revenue Service. We recommend that you consult with your financial advisor regarding the tax deductibility of expenses involved in your property management.

What happens if one of my tenants has to be evicted?
HMC will handle the eviction process for you. We file all required paperwork, schedule evictions, schedule dates with sheriff’s office to deliver the necessary paperwork and represent the owners in court.

Does my rental need to be compliant with all of the Local, State and Federal Lead Poisoning Prevention Program?
If your residential property was built prior to 1978, it must inspected for lead-based paint and registered with the Maryland Department of the Environment (MDE) or tested Lead-Free. HMC stays current with all rules and regulations and will advise you of your options as a property owner (and as a first time renter). We will let you know your safest choice as an owner of rental property and provide all of the forms for you to stay legal and up-to-date with the ever-changing laws and rules. The goal is to make this process easier and save you from fines and penalties.

What are your property management fees?
Our property management fees are tailored to your needs. We will perform a portfolio analysis for you (number of units, age of units, rents, locations, compliance, etc.) to determine a fair and agreeable amount of leasing and management fees that apply.

If you have any other questions, please call this number (301) 791-6060, or email us at info@hagerstownmanagment.com