Property Management Services
Residential Property Management
Equal Opportunity Housing
Our company is committed to Fair Housing, not just because it is the law but because it is something we believe in. We do not discriminate on the basis of race, color, religion, sex, national origin, handicap, or familial status. Our clients can trust that we make every effort to offer their properties in full compliance with Fair Housing Laws.
Market Rent Analysis
Our professional property managers analyze market rents and advise property owners (“our clients”) on our opinion of the market rental rate for their properties. Charging market rents is an important part of realizing the potential of an investment property for the property owner. We only provide this service for our clients.
N.C. Disclosure Laws
Many property owners are not aware of requirements under N.C. Law regarding Agency Disclosure and Lead-Based Paint Disclosure. Our professional property managers stay on top of changes in the law and provide the property owner and tenant with the appropriate required disclosure forms. For example, a Lead-Based Paint Disclosure Form is required to be signed by the property owner and the tenant for all properties built before 1978.
The Leasing Process
Our Residential Rental Agreement” was developed and is copyrighted by the N.C. Bar Association and the N.C. Association of Realtors. Additionally we have developed and copyrighted our own “Rules and Regulations” which are attached to and part of the Lease. Our Rules and Regulations protect your interest by spelling out in clear language the tenant’s legal obligations, our policies, and our expectations of the tenant. We recommend a one year lease but that decision is ultimately up to the property owner. We do not handle leases under 3 months.
During our Leasing Process we collect a security deposit under the guidelines of The N.C. Residential Security Deposit Act. We generally recommend a Security Deposit equal to one month’s rent.
Our company provides move-in and move-out inspection forms to property owners and residents to document the property condition before and after a tenancy. These forms are used as part of our Security Deposit process in determining whether a deposit is returned to the tenant or to the property owner. Following a move-out we will immediately start the processes of readying a property to rent and marketing the available property.
Protecting Your Interest
Throughout our company’s management of a property we monitor and work to encourage the resident’s compliance with the terms of the Rental Agreement and Rules and Regulations. For example, if a resident is not mowing the yard we will send a letter reminding them of their obligations under the lease. We also make recommendations to our clients as to ways to protect and enhance their investment property and to residents on things such as preparing the property for winter.
Collection of Rent
We follow closely the rent collection procedures allowed under N.C. Landlord-Tenant Laws. While our “Application Approval Process” is very thorough, rent collection challenges will always be a part of property management. We are experts in the field. Under our Residential Rental Agreement rent is due on the first of each month and late after the fifth. We send out late notices and charge a late fee on or near the eighth, depending on how the weekend falls. Our late charge is $15.00 or 5% of the rental rate, whichever is greater. That is the largest late charge allowable under N.C. Law. Late charges are paid to our company as part of our management fee structure. Additionally, we handle the eviction process if needed. During this process, we charge our client $5.00 to file a “Complaint for Summary Ejectment”, $5.00 to attend court and file for “execution” of a “Writ for Summary Ejectment”, and $20.00 to handle a “lock out.” These fees are charged to the client but are then charged back to the tenant for reimbursement. If a tenant moves owing money we file a report with the Credit Bureau.
We produce a detailed monthly statement on income and expenses for our owners. Like most businesses that are on a 30 day cycle, we close the books in the last week of the month and mail out statements and owners’ net proceeds checks.
Our company maintains relationships with various licensed, insured contractors who provide property maintenance services. If a property owner chooses for our company to handle the supervision of their property’s maintenance needs we charge a 10% maintenance supervision fee. For example, if there is a $50.00 invoice from a plumbing contractor who we sent to the property, there will also be a $5.00 supervision charge. In turn we handle all coordination between the resident and the contractor and handle the billing process. When needed, we inspect repair work before and after. We ask our approved vendors to provide quality work at competitive prices with timely response time. We also require vendors to carry both General Liability and Workman’s Comp Insurance for your protection.
24 Hour Emergency On-Call Service
Our company maintains a 24 hour emergency on-call service which is always staffed by one of our professional property managers. This service is for extreme emergencies only but gives our property owners and residents the confidence that we are available nights, weekends, and holidays when emergencies arise.
Our pricing model is based on a percentage of collected rents. The percentage varies depending on the type and number of units managed. One of our professional property managers will be glad to meet with you, discuss your property (s), and quote you a price for our services.
Application Approval Process
We have developed our market’s most thorough application approval process including:
- On-line access to credit reports
- Criminal reports and court records
- Employment and Income Verification
- Rental References from current and previous landlords
- Personal References
- Pet References (if property owner allows pets)