Does the city require any permits or licenses for short term rentals?
Municipalities are actively creating and modifying their short term rental policies. In Oklahoma City we are required to get a Board of Adjustment approval for permission to list this as a home sharing property. This costs ~$300. After we are given approval by the Board of Adjustment, we secure a license annually ($24/year). Norman and the Village also require licensure.

My home is in a historic neighborhood. Do I need to do anything else?
If your property is in a Historic Preservation (HP) district in Oklahoma City, you (or your host) must occupy the property as your primary residence and be on site at the time of the rental.

What is the difference between long term stays and short term stays?
Short term stays (29- days) often require city approval, do not require a lease, and the guest does not have renter’s rights.

Long term stays (30+ days) do not require a license from the city, as this is considered leasing activity. In some midterm and long term guests require a lease. We can list your property exclusively to guests for stays longer than 30 days if you prefer.

Will you get my the approval license for me?
Sure thing!

Is cleaning in house or outsourced?
Both! To keep your costs as low as possible and ensure we always have enough support we partner with Hive Helper. After they finish cleaning our team visits the property to check the final details.

How often is the property cleaned?
The property is cleaned after each guest check out. Additionally, a deep clean is required 2-6 times per year.

How often does your team visit the property?
Our team visits the property after each cleaning is complete to ensure the property is ready a guest to check in.

How much is the cleaning fee you charge guests?
The size of the property, number of beds, location, and market pricing are accounted when determining the cleaning fee charged to guests.

How much is cleaning? What is included in the cleaning fee?
Each home has a different cleaning fee. The size of the property, number of beds, and location, are accounted when determining the check out cleaning fee. The cleaning fee paid to Hive Helper is usually less than the guest pays, assuming there is not substantial damage to the property, and that deep cleanings are scheduled as needed.

How is laundry handled?
If a washer and dryer are on site our cleaners wash as many loads as possible while they clean the property. All properties use the same hotel grade linens for their property (including mattress and pillow covers).

Do you use a dynamic pricing tool?
Yes, we use PriceLabs.

How are operational expenses different if I want to switch my LTR to a STR?
Your three biggest ongoing expenses will be cleaning, management, and utilities

Why are your management fees higher for short term rentals than for long term rentals?
It is more expensive for you because it is more labor/time intensive for us. In addition to regular management tasks we coordinate all cleanings, guest management, visit your property before every guest check in, and must have a team member on-call at all times.

Set Up Fees
Set up fees are handled on a case-by-case basis because each property is unique. If your property is already furnished, inventoried, and has proper licensing you will not have a set up fee.

Who pays for consumables?
Owners pay for all property expenses. Our team handles ordering and inventory management. We order in bulk to save on costs and do not have a mark up.

Why am I paying 10% during vacancy on top of a placement fee?
During vacancy we are working. Whether the property is listed for lease, listed for sale, or not listed at all. Whether the property is undergoing repairs or not. We are paying utilities, creating reports, checking on the property weekly, negotiating with contractors, etc.

Other managers only collect fees if they collect rent. It incentivizes them. Why do you charge 10% even if you don’t collect rent?
During delinquency, we are still working. We are paying bills, creating reports, handling repairs, following up with tenants 3x per week, collecting partial payments, updating your portal, navigating challenges with the courts and Cares Act. 

Why do you retain the late fee?
This isn’t a revenue driver for us, it’s for efficiency. We realized that the income from late fees was almost the exact same as the costs for certified mail, payment processing, and bank changes. We decided to retain the late fee, and in exchange cover those costs. Income is a wash, but by not having to pass these expenses to the owner it has saved us several hours each month that we can now use to better take care of the tenants and properties.

Why do you charge a project management fee?
Honestly, we usually don’t. That is included in our management agreement because clients often ask us to handle full scale rehabs, properties declared condemned, new construction projects, etc. If projects are beyond the scope of a normal project we may approach you about your options for project management.

Why do you charge extra for housing assistance?
We charge when we work, plain and simple. Housing assistance agencies demand a lot of extra time and effort. See the “housing assistance” tab for additional information about the workload involved with leasing through housing assistance agencies.

Do you negotiate discounts for the work?
We secure bulk discounts whenever possible. Preventative maintenance items are what get the biggest discounts.

Can I get a second estimate?
We secure multiple estimates when the repair amount is greater than $2,500.

Can I talk to the contractor?
Generally, the more people involved in a repair the more timeline suffers and misunderstandings occur. That said, you’re welcome to make calls to anyone you’d like!

Can I do my own repair?
Sure thing. We need to properly communicate/plan with the tenant, ensure the repair is done properly, upload documentation to the portal, and maintain boundaries with the tenant. If you’re fine with that, your maintenance coordinator is happy to schedule you to complete the repair.

Can I use my own contractor?
Probably! We’re always looking for more contractors. Send us their contact information so we can call and vet them. As long as they’re able to work within our systems we’re happy to add them to our roster of approved contractors.

Are your contractors in house?
For the most part we work with third party contractors.

Who approves repairs? Can I approve all repairs?
Repairs > $300 require owner approval.
Repairs < $300 are approved by our team.
Emergency repairs are handled case-by-case.

What happens if a repair is needed and you cannot get ahold of me?
If we are not able to get ahold of you, we make a judgement call based on the severity of the situation. Sometimes we will approve a repair, other times we will offer the tenant a rent credit. After 14 days, the Landlord Tenant Act may require us to allow the tenant to break their lease and receive their deposit back in full.

What is an emergency repair? What do you do if it’s the middle of the night?
Emergency repairs are authorized without owner approval when tenant safety is at risk or when property condition is rapidly deteriorating. We generally approve work to prevent the issue from getting worse. For example, if there is a plumbing issue causing flooding we may approve a service call to shut off the water, pump water from the flooded area, and install fans to dry out the area and prevent mold growth.

How do I know when a repair is complete?
The portal shows the status of each work order.

Are there any repairs or improvements you require owners to make?
Generally speaking, we require repairs needed to make homes to be safe and habitable.

A note on slum lording- 
The effort you put into your home is seen by your tenant and will be met in kind. We’re happy to take on “rougher” properties and get them stabilized, but we don’t take on rough properties if the owner doesn’t want to improve condition. If your management philosophy borders slum lording we aren’t a good team for you.

How do you communicate with me?
Most communication happens in the portal, and via automated emails. We’re always happy to jump on a call when requested.

How fast will you get back with me?
Under normal conditions we respond to all phone calls and emails within 24 hours. Our work is cyclical so there will be times we may take more time to respond.

Who do I talk to?
Your property manager (and occasionally your maintenance coordinator). We break the traditional model of a department-based company. We operate in pods instead. Your pod is made up of your property manager, maintenance coordinator and assistant property manager. All three work together to manage your portfolio.

Will you call/email me before you _____?
You will receive an automated email at important milestones! All other information is available in your portal.

The portals cool, but I’d rather you just call me if that’s not too much to ask.
We are always happy to jump on a phone call at your request. Our default method of communication is the portal. We leverage technology to get you information in real time. It allows us to remain logistically sound and keep your fees low.

Can we modify the management agreement?
No. Our systems and processes are guided by the paperwork we have in place. If we modify the management agreement, we have to operate off memory instead of those systems. This allows room for errors, non-compliance, and poor follow through.

Why do you require a 12 month initial term?
Retaining our management services is a big commitment for our team and you. A year commitment is a way for us to ensure the decision is considered thoughtfully.

Why do you require 90 day termination notice?
90 days termination gives our team time to close out work orders, transfer utilities, make changes to portal access, pay final bills, and prepare documentation/deposits.

What reports will I get?
We distribute a general ledger monthly, a YTD general ledger, and a 1099 annually.

Where are my financial reports?
This can be found in Google Drive in the folder labeled “Tax Documents (1099s) and Financials.” We upload your financial statement, all bills, and 1099s to one place to make it easy for you/your bookkeeper to get all you need.

What documentation can I access?
All documentation we have is accessible: leases, management agreements, tenant notices, bills, reports, etc.