Property Management FAQs

1What do Property Managers do?

  • Agent for the landlord (owner)
  • Prepare properties for renting
  • Inspect properties before, during, and after a lease term
  • Market properties
  • Make properties available for prospective tenants to view
  • Receive applications
  • Screen applicants
  • Coordinate lease signings and lease renewals
  • Maintain the investment property
  • Provide administrative and financial property management
  • For apartments, provide on-site leasing, maintenance, and management services
  • Log correspondence in the property management system
  • Rental Property Management Software
  • Correspond with owners and tenants
  • Coordinate utility payments during the make ready process

2How much are Property Management Fees?

A property management company will get your property ready for showing, interview applicants, collect rents, make repairs, and help with an eviction process. Typically you are charged a flat fee per month or a percentage of the monthly gross rent for these services. Percentages could range from 5%-15%. Other fees that could be charged outside of this monthly commission could be an initial setup fee, lease renewal fee, early cancellation of contract, advertising costs, and costs for any repair work.

3How will you find tenants for my property?

Your property, along with photos, will be advertised on our website and in the Carolinas Multiple Listing Service (MLS), and on various online home directories. We also thoroughly screen applicants. A yard sign will be placed ion the property also. A Property Information Sheet will be prepared for your property with all the necessary information.

4What is usually looked for in tenants?

  1. Stability of employment - this will give you an indication of whether the tenant will be likely to stay for the nominated lease period and whether they will have the funds to pay for it.
  2. Good credit history - ability to pay the rent.
  3. Avoid over crowding - ask about the number of people who will be living in the property. Over crowding can cause excessive wear and tear.
  4. Proof of identity - ask the property manager to take a photocopy of a drivers license.
  5. For a list of approval criteria, click here.

5How much will my investment property lease for?

Your lease rate is going to be determined by several market factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. Unfortunately, the markets that dictate lease rates vary vastly from the markets that influence value of properties. Please contact our office and we can discuss this with you as it relates to your specific property. Ask us how much you could expect in rent.

6How do Property Inspections work?

Regular inspections of the property are completed by the property manager when taking on the rental, midway through a lease term, and when a tenant moves out, and any other time as requested by the owner. Periodic inspections are recommended to determine preventative maintenance due and to gauge the extent of tenant damages (if any) to the property.

7What are the most common mistakes made by investment property owners?

1. Purchasing a property in poor condition.

  • Even though the purchase price may be attractive, the amount of corrections required to make it inviting to potential tenants can consume every bit of profit made available by a tenant occupying the property.
2. Requesting a rent amount that is too high.
  • This mistake leaves you with long term vacancies while generating no monthly income. Tenants in the rental market have a good idea of what current rents should be.
3. Not keeping an open mind regarding applicants
  • The changing economy has forced us to make decisions and review tenant applications differently. On average, tenant prospects have lower credit scores than the applicants from a few years back.
4. Failure to take advice from your property management company.
  • The rental property business is complex. But years of experience have introduced us to almost every obstacle rental ownership may present. Trust in your management company. We are here to protect your best interest.
5. Not addressing tenant concerns in a timely manner.
  • Failure to respond to tenant requests can create additional issues for a rental owner. The rental market is highly competitive and tenants in the same area talk with each other. Failure to respond can lead to a search for better managed living opportunities.

8How often will I hear from my property manager?

Would you prefer to hear from your property manager every time something occurs with the tenancy or would you prefer them to handle situations with your best interests in mind? Advise the property manager of your expectations to avoid confusion. Also discuss your preferred method of communication - is it by email, your home phone, your mobile?

9Who handles the middle of the night calls?

We do! We are on call 24 hours a day. Why worry you? That’s why you hired us! Most emergencies are prioritized and often can wait to the next day.

10Why should I choose your company instead of another?
We Communicate Timely and Accurate Information

We research comparable rental properties to determine the highest market rent possible for your rental property. We provide a timely turn around of your vacant properties so they can be re-rented quickly. We seek to obtain the highest market rent possible for your rental property and immediately providing a timely turn around of your vacant properties so they can be re-rented quickly. We keep expenses low by providing maintenance services through our own maintenance staff instead of using more expensive contractors. We handle all tenant calls for maintenance, supervising and inspecting all major repairs of the homes, and thoroughly screening all applicants to provide the most qualified Tenants possible. Leasing Services For Your Rental Property:

  • Aggressive Marketing of Your Rental Property
  • Prospective Tenant Screening
  • Preparation of Lease Contracts for Your Rental Property
Management Services For Your Rental Property:
  • Collection of Security Deposits and Monthly Rents
  • Move-In/Move-Out Inspection of Your Rental Property
  • Preparation of Monthly Statements
Maintenance Services For Your Rental Property:
  • Response to all Tenant Requests
  • Coordination of Contractors
  • Complete repairs as requested of Your Rental Property
  • Recommendation of Improvements of Your Rental Property

11Eviction FAQs for Owners / Eviction FAQs for Tenants

For Owners

In response to the numerous questions we receive regarding evictions, here are some common questions and answers regarding the process. All procedures, fees and time frames are based on the North Carolina General Statutes and Landlord/Tenant Laws.

When do we file eviction papers?
  • Eviction papers are filed on the 16th< of every month. We file on all tenants that have a balance of $200 or more in outstanding rent.
How long does it take to get the tenant out?
  • Each State has different time frames for evictions. All papers for both North Carolina and South Carolina are filed with the court system on the 16th. In North Carolina, the courts will notify us of the date and time of the hearing. The hearing is usually scheduled around the first week of the following month in which were filed. During the hearing, if the judge grants us possession of the property, the tenant will have ten days from the date of the hearing to pay their account in full, voluntarily move out or appeal the ruling. In South Carolina, once the case is filed, the sheriff’s office has to personally serve the tenant with the eviction paperwork. Once the paperwork is personally served, possession is granted if the tenant does not respond within the 10 day answer period. After possession has been granted the Writ of Possession can be filed immediately. In many counties, the Writ of Possession expires within 30 days so it must be filed prior to the 30 days.
What happens if the tenant does not pay or move out after the court date?
  • In North Carolina, on the 11th day after the court hearing, we will file a Writ of Possession with the court. If the 11th day falls on a weekend, the Writ of Possession will be filed the following Monday. The Sheriff’s department will then notify us of the date and time of the lock-out. The lockout is typically scheduled 2 weeks from the date that the Writ of Possession was filed. If the tenant does not pay their balance that the eviction was filed for by the lock-out date, they will be locked out of the property. The tenant will then have a 10 day window to make a one time appointment to remove any personal belongings left on the premises. If the tenant does not collect all their belongings within the 10 day window, all items left on the property are surrendered and disposed of.
How much does this cost and who pays for it?
  • The cost of filing eviction papers with the courts vary based on the county in which they are being filed. Mecklenburg County charges $181 plus an additional $30 per tenant. To file the Writ of Possession it costs $85 plus an additional $30 per tenant. York County charges $80 for the eviction filing. To file the Writ of Possession in York County, it costs $35. There is also an additional expense for changing the locks on the property which will vary based on the number of locks and the type of locks at the property. The cost is typically around $150 but may vary as stated above. Since these fees must be paid upfront, they are initially charged to your trust account. If payment is received from the tenant, your account will be reimbursed. For a tenant to make an appointment to remove the belongings in the unit, the tenant must pay, in advance, a $49 service charge plus $60 per hour. Payment for the appointment to collect belonging must be paid in certified funds.
Will I ever get the money owed to me?
  • The tenant’s security deposit will be applied to their outstanding balance which can include unpaid rent, fees, maintenance repairs and any damages to the property. The remaining balance owed will be billed to the tenant. They will have 30 days from the date of invoice to pay the balance or make payment arrangements with us. If the balance is not paid and they do not setup payment arrangements their account will be turned over to a collection agency to attempt to collect the debt. It will also be reported to the credit reporting bureaus by the collection agency. If any payments are made by the past tenant to the collection agency, the agency will deduct their fee from the amount collected and forward the difference to us. The fees charged by the collection agency are 40% of the amount collected. The amount we receive will be credited to your trust account upon receipt.
What if the collections agency is unsuccessful in collecting the debt?
  • Unfortunately, there is not much else that can be done legally. Their credit history report will have a collection account on it as unpaid. The blemish on their credit report will make it difficult for the tenant to finance anything or rent another property in the future. We will also give negative rental histories for the tenant to anyone who asks. There may be some tax advantages to this unpaid debt. Please consult your tax advisor for advice regarding write offs for uncollected debt.

For Tenants

In response to the numerous questions we receive regarding evictions, here are some common questions and answers regarding the process. All procedures, fees and time frames are based on the North Carolina General Statutes and Landlord/Tenant Laws.

When do we file eviction papers?
  • Eviction papers are filed on the 16th of every month. We file on all tenants that have an outstanding rent balance.
How long does the eviction process last?
  • Each State has different time frames for evictions. All papers for both North Carolina and South Carolina are filed with the court system on the 16th. In North Carolina, the courts will notify Henderson Properties, as well as the Tenant, of the date and time of the court hearing. The hearing is usually scheduled around the first week of the following month in which the eviction was filed. During the hearing, if the judge grants possession of the property to Henderson Properties, the tenant will have ten days from the date of the hearing to pay their account in full, voluntarily move out or appeal the ruling. In South Carolina, once the case is filed, the sheriff’s office has to personally serve the tenant with the eviction paperwork. Once the paperwork is personally served, possession is granted if the tenant does not respond within the 10 day answer period. After possession has been granted the Writ of Possession can be filed immediately.
What happens if the tenant does not pay or move out after the court date?
  • In North Carolina, on the 11th day after the court hearing, Henderson Properties will file a Writ of Possession with the court. If the 11th day falls on a weekend, the Writ of Possession will be filed the following Monday. The Sheriff’s department will then notify Henderson Properties and the tenant of the date and time the lock-out is scheduled for. The lockout is typically scheduled 2 weeks from the date that the Writ of Possession is filed. If the tenant does not pay their entire balance before the lock-out date, they will be locked out of the property. The tenant will then have a 7 day window to make a one time appointment to remove any personal belongings left on the premises. If the tenant does not collect all of their belongings within the 7 day window, all items left on the property are surrendered and disposed of.
How much does this cost and who pays for it?
  • The cost of filing eviction papers with the courts vary based on the county in which they are being filed. Mecklenburg County charges $181 plus an additional $30 per tenant. To file the Writ of Possession it costs $85 plus an additional $30 per tenant. York County charges $80 for the eviction filing. To file the Writ of Possession in York County, it costs $35. There is also an additional expense for changing the locks on the property which will vary based on the number and type of locks at the property. The cost is typically around $150 but may vary as stated above. Tenant is responsible for payment of all costs associated with eviction filings. To make an appointment to remove the belongings in the unit, the tenant must pay, in advance, a $49 service charge plus $60 per hour. Payment for the appointment to collect belongings must be paid in money order.
What happens if the balance is not paid?
  • The tenant’s security deposit will be applied to their outstanding balance which can include unpaid rent, fees, maintenance repairs and any damages to the property. The remaining balance owed will be billed to the tenant. The tenant will have 30 days from the date of invoice to make payment arrangements with Henderson Properties. If payment is not made or arrangements are not setup, their account will be turned over to a collection agency to attempt to collect the debt. It will also be reported to the credit reporting bureaus by the collection’s agency.

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