How to Get Started with EGL Properties

Getting started is easy!  Follow these simple steps and EGL Properties will soon be managing your investment so you can experience the hassle-free experience of doing business with EGL.

  1. Contact EGL Properties and we can review your specific needs. We will provide you with a management agreement and can answer any of your questions.
  2. If you currently have a property manager that needs to be terminated:
    1. Check your current property management contract to see what type of notice is required. It is typical that you will be required to give a written 30 day notice. If possible, call the manager to see if they will accept a shorter notice. Many will, especially if they know that you are unhappy. If you do not have a written contract, assume 30 days is required.
    2. Compose a brief letter such as the sample below: As of _____________ (date), your services at ______________ (property address), will no longer be required. A representative of EGL Properties will be in touch with you prior to the termination date to pick up keys and any pertinent files. Please send remaining funds in my account directly to me including tenant security deposits.
    3. Please send a copy of the letter to EGL Properties.
  3. Compose a letter notifying your current tenants as to the change in management. We can help you distribute this letter by enclosing a copy of it along with our letter to the tenants introducing EGL Properties and our policies.
  4. Along with a signed copy of our management agreement and funds to open a trust account, provide EGL with the following items (if applicable) in order to enjoy a smooth transition
    1. Copies of all recent bills, including mortgage, property tax, insurance and utilities
    2. Name and phone number of any regular vendors, including landscaping, trash, elevator, cleaning, security and laundry
    3. Name and phone number of all employees, and copy of employee contract
    4. Name and phone number of Home Owner’s Association and copy of CC&Rs
    5. Rent roll, including:
      • Name, address and phone number of tenant
      • Copies of leases (if new purchase, copy of estoppel letters)
      • Amount of security deposit, date and amount of last rent raise, balances owed and last rent payment
    6. Copies of keys, including storerooms, intercom, elevator and laundry
    7. Information regarding any pending 3-day notices and/or unlawful detainers
      • Copies of three day notices served
      • Name of tenants under eviction, name and phone number of attorney handling case
      • Pending court dates and evictions
    8. Pending inspections, if any, such as Section 8, SCEP, Health Dept.
    9. First page of insurance policy, showing coverage, and name and phone number of agent
    10. Rent stabilization certificate and business license
    11. Copy of recorded grant deed
    12. If management commences with new purchase:
      • Name and number of broker and escrow officer
      • Copy of closing statement
    13. Letter of Authorization to Tenants, if units are occupied (see attached)
    14. Letter of Authorization to Insurance Company (see attached)
    15. Funds to open a trust account in the amount of $________
  5. We will begin sending you your monthly report on the 15th of the month.
  6. You will be able to enjoy your investment free from the day to day responsibilities.