FREQUENTLY ASKED QUESTIONS

We would set up a time to meet at your property. After seeing it, we can put together a plan for your property. At that time, we will talk about the range we think your house could rent for now, what type of work (if any) needs to be done to rent your house quickly, and any other liability issues that need to be addressed. We will answer any questions you have and walk you through the whole process. We view this as a long-term relationship, and we want you to feel comfortable with us and all aspects of renting out your home.

Our management agreement is very similar to a lease. It is for one year and renews annually unless a 60-day notice is given by you, the owner, or by us, the management company. 

You will need to change your insurance on the property from a homeowner's policy to a landlord's policy. We will require you to carry a minimum of $500,000 in liability coverage, but we recommend at least $1,000,000 in coverage. We will go over all of this at our first meeting at your property. 

Yes, you will need to keep the utilities on in your name until the tenant moves in to the property. At that point, the tenant will get the utilities in their name. We require all of our owners to enroll in the “revert to owner” program. To learn more about this program, you can call Duke Energy at 800-777-9898.

Yes, we make tax time easy. In January of each year, you will receive your 1099 tax documents, as well as a full year income statement for the previous year. 

In a normal month rent is due between the 1st and the 5th. We pay any bills on your account between the 7th and 10th, and then we pay our owners between the 15th and the 20th. That is also when you will receive your monthly owner's statement. We also pay bills and vendors again at the end of the month. 

Consult your owner's statement to see what happened. Most of the time non-payment means your tenant paid late and the money has not cleared our bank account in time to pay you. For example, your tenant paid on the 12th, but we paid our owners on the 15th. That means the funds did not clear in time, so we were not able to pay you. If that happens, you will be paid at the end of the month when we pay bills again. 

Yes, we require you to keep $500 in your account at all times. This is your money, but it gives us cash on hand if we have to file eviction paperwork or if we have a bill that comes in after we paid you your monthly funds. 

We do background checks, credit checks, rental references, and income verification. All investments carry a risk, but we try our best to screen out bad tenants from the start. We also have a VERY good track record with tenants that we approve for our rental homes. 

In accordance with fair housing laws, we make the final say on who is approved for a property, not our owners. For example, if we get two applications and one has children and the other does not and our owner says do not rent to the family with children, that could be a fair housing violation. Due to that, we process our applications on a first-come, first-serve basis. Again, we have a very good track record for the tenants we approve for our homes.

It depends on the condition of the property and the rental amount. With our marketing, we are usually able to rent our properties within a few weeks.

We will set you up on ACH payments. We will deposit your monthly rent payment into your checking account. 

We try to inspect your house once or twice a year. You will receive an inspection report each time. All of this is included in our normal fees. We do not charge any hidden or extra fees for inspections like this. Additional inspections can be done upon request.

We are allowed to make repairs that are under $500. Anything over that (unless it is an emergency) we will send you an estimate prior to making the repairs. You need to have the funds in your account for us to move forward with the repair. You can easily put funds in your account through your online owner portal.

Rent is due between the 1st and 5th of each month. We send out late notices at that time. If they have not paid by the 10th of the month, we start the court eviction process. Keep in mind, even though we have started the court proceedings, if the tenant pays their balance, we can cancel the court proceedings at any time. 

In N.C. it usually takes two months once the tenant has not paid to complete the eviction process. We will appear on your behalf to handle this process for you. You will pay the court's filing fees and the Sheriff's fees for conducting the eviction.

We are always looking for good contractors to provide services at the properties we manage. Many times we get these contractors through word of mouth or they contact us. We require all vendors we use to have both General Liability Insurance and Worker's Compensation Insurance.

Yes, you still need to pay these each month.

Yes, if you want to use a contractor that is not set up in our system, you can handle the work request. You will also need to pay the contractor. Keep in mind, the repair you made will not show up on your end of year income statement from us, so you will need to keep up with it.

We require all of our tenants to give us a 60-day notice if they are going to move out of the property. We start contacting tenants around the 90-day mark before their lease ends to see if they would like to renew. If they would like to stay, we will inspect the property and then contact you and start negotiating the new rent, and we will have them sign a new lease. Many of our tenants have been with us for years, and we always try to keep them and ensure they are on a current lease.

They should give us a 60-day notice that they will be moving out of the property. We will let you, the owner, know as soon as we know. We will see if the tenant will allow showings, and if so, we will start marketing the property for a new tenant. Our goal is to have a new tenant in place before the old tenant moves out of the property. We will need at least a week between tenants to make sure the property is move-in ready. 

Absolutely, we buy and sell properties all the time. Just give us a call at 336-209-5987.