Frequently Asked Questions
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You can self-manage your property if you answer YES to MOST of the following questions.
1. Do you have time 7 days a week to show your property during pre-lease and attend issues during tenancy? 2. Do you know Fair Housing, NC Landlord-Tenant, Security Deposit etc laws? 3. Do you know how to draft lease agreement with terms protecting your home, rental income, and being fair to tenant?
4. Do you have vendors in your back pocket for most common trades like plumbing, electrical, HVAC, handyman, painters etc at reasonable prices?
5. Will your vendors attend on a priority basis for issues like plumbing leaks, no heat, CO monitor malfunction etc?
6. Do you know how to assess market rent, take professional pictures, and list on multple websites?
7. Do you know how to pre-qualify a prospect before giving a tour?
8. Do you know how to read and understand red flags on background screening report?
9. Do you accurately report income, and expenses to IRS? 10. Are you a good negotiator, and know how to present your home to prospect and tenant?
If your home is currently tenant occupied and managed by us, we will list your property 30 days prior to tenant move-out.
If you are a new client, we will list your property as soon as it is professionally cleaned, repairs completed, and showing ready.
If you have purchased a new construction home, we don't list until we receive the keys due to liability reasons.
We research market rents using MLS data, third-party tools such as Zillow, Rent-o-Meter. We don't list at higher rates than the market rate. In our experience, properties listed at higher rent stays in the market unrented for a long time. For the landlord, vacant home is lost money in income, utilities expenses etc. In addition, with fair market rents, tenants will be more loyal resulting in longer stay and take good care of the property.
We list your home on following websites including Zillow Group (Zillow.com, Trulia.com, and Hotpads.com):
You don't need to worry if you don't have pictures taken, our staff is trained to take professional looking pictures. However, if you already have profesionally taken pictures and they truly represent your property's current condition, we will use them in our in listing.
Pest control and landscaping is tenant's responsibility. However, landlord is responsible for pest control within first 30 days of move-in if tenant reports pest issues. We provide landscaping services for cost if tenant or landlord requests.
According to Apartments.com national survey, nealry 90% of the renters have pets. If you don't allow pets, it greatly reduces your ability to rent. Instead of saying no pets altogether, it is better to allow pets with some terms such as (a) only small dogs (b) no cats etc. If you allow pets, our company wide policy is (a) no dangeraous breeds (b) $300 one-time non-refundable fee per pet (c) no more than 2 pets (d) trained, spayed and neutered (e) 5 days to remove the pet from premises causing nuisance or poses danger to neighbors (f) we do not charge monthly rent for pets.
Long-term is better as your turn-over costs will be lower. Sometimes short-term is better if the lease ends during good rental season (March through July).
It depends on the demand. If your property is in most sought after location, rents are expected to increase year-after-year. In this scenario, reducing the rent for longer lease is a loss for the landlord. Conversly, longer lease will bring down turnover expenses. Decision should be made on case-by-case basis.
Yes, provided virtual tour is given to the applicant, so the tenant is aware of the conidtion of the home prior to renting.
Yes, it guarantees rental income irrespective of tenant's economic situation. However, you do need to vet the tenant through background screening.
If the tenant is in good standing during current lease term, we assess the market rent and renew the lease with appropriate increase with Owner approval. Tenant receives the renewal agreement, typically 60 days prior to lease expiry.
We use industry's most trusted and accurate, Equifax services for credit, criminal and eviction combined with RealPage's AI tools for approval recommendation.
We don't outsource repair work to 3rd party vendors unless it is specialized like garage door, appliance, HVAC repairs. Our in-house handyman is capable of addressing most common plumbing, electrical, general handyman repairs. Our handyman charges are much cheaper than market rates. For specialized repairs, our network of vendors provide discounted prices and priority to our work-orders.
Our properties are listed on 35+ websites, and prospective tenants have the ability to schedule showings online if they meet pre-qualification criteria. Once the required documentation is reviewed and showing is approved, prospect will do self-tour with our state of the art home access system. After prospect completes the tour, questions were answered, and feedback is gathered from the prospect. Our average days to find a tenant is 14 days.
At the time of move-out, we prepare detailed condition report and assess the tenant caused damages vs. regular wear & tear by comparing with move-in condition report. We estimate the cost to repair damages, and deduct the cost from security deposit. The remaining security will be refunded to tenant within 30 days of the move-out.