OWNER FrequentLy Asked Questions
- All CMR agent sites such as:
- In Office Services such as:
- Lead Management
- Vacancy Flyers
- Majority of our properties have rent due on the 1st of the month and late on the 6th.
- First notices are mailed on the 6th of each month or next business day.
- Second notices are mailed on the 10th of each month or next business day.
- With prior owner's approval, court cases are initiated against all delinquent residents on the 21st of each month.
- Note that due to our rigorous screening and consistent collection procedures, evictions are rare at CMR.
- You will not have to wait on your monthly rental proceeds; we make every effort to insure your funds are received no later than the 15th of the current month.
- Direct deposit of an owner's monthly check is available at no additional charge.
- In addition, the property owner will receive an itemized accounting statement for each property and invoices we paid that month on owner’s behalf.
- N.C. General Statutes require that security deposits be segregated from other funds and held in a separate escrow account in a bank or savings & loan.
- Carolinas Metro Realty maintains all security deposits in a separate escrow account and is the fiduciary under N.C. General Statutes.
- The security deposit cannot be disbursed to anyone until a resident vacates and then it can only be disbursed to either the owner or the previous resident.
- Please refer to our Management Agreement for more complete details regarding security deposit procedures.
- Market your rental property to minimize vacancies and maximize income (Property managers make their livings because they know the rental market, what comparable properties are renting for, and what potential renters are willing to pay for a rental property. They have the marketing knowledge to reach potential renters and they have the experience and resources to weed out potential bad renters);
- Fill vacancies with the best possible tenants;
- Maintain and keep your rental property in good condition (link: Property managers handle and coordinate routine repairs as well as emergency repairs. They have the experience to avoid unnecessary repairs to save you money);
- Track income and expenses to determine profitability;
- Negotiate rental agreements;
- Collect rent and track tenant deposits;
- Comply with federal, state and local laws; and
- Respond to tenant requests and deal with problem tenants
Can Carolinas Metro Realty sell my rental house or apartment?
Yes, we have a full-time sales department and a working relationship with many Realtors® in the local market. We also facilitate sales between the property owner and the tenant.
Does an owner have to accept pets?
No. Each property owner can decide to accept or deny pets. If the property you applied for does not accept pets, our Property Manager can give you information on what other properties which do accept pets.
How can Carolinas Metro Realty help me if I'm thinking about purchasing investment property?
Carolinas Metro Realty works with investors to help identify investment residential and commercial properties based on their personalized needs. Once property is selected, our real estate brokers will help negotiate contracts for the purchase or lease of the property, securing the most beneficial terms. We will handle all the contracts, inspections and other details of the purchase on behalf of our investors and assist with leasing services after property is acquired. Please contact our team for additional information.
How does Carolinas Metro Realty market vacancies?
How does Lease with option to purchase works and what is required?
A contract which gives one the right to lease property at a certain sum with the option to purchase at a future date.
When a person rents with an option to buy, he or she rents a home from its owner and lives in the home as a tenant until he or she exercises the option to purchase the home and become the owner.
A contract to lease with an option to buy, called a lease purchase or lease option agreement, is a typical rental agreement but includes the option provision. Usually, the option agreement allows the renter to purchase the home at any time or at certain time intervals (after three years of paying timely rent, for example) by serving the owner of the home with written notice of his intent to exercise the option.
Generally, the option agreement also gives the renter the right of first refusal, which means that the owner of the house cannot sell it to a third party unless the renter has first been offered and declined to exercise the option to buy. Typically, upon signing the contract, the renter must pay the owner a non-refundable lease option deposit. The option can be drafted so that there is only certain time period during which it can be exercised (30 days after the first of the year, for instance) or so that it expires completely after a period of years.
There are many advantages to leasing with an option to purchase for both the buyer and the seller. Because the terms of a lease purchase agreement typically apply some rent paid to the cost of purchasing the home, the seller is essentially financing the purchase of the home. This allows the buyer to purchase a house without an extensive credit and finance check, and the seller to sell her home quickly and still get all or nearly all of her asking price (this is especially beneficial during a sluggish market).
Depending on the market, the buyer can negotiate lower rent (in exchange for making higher mortgage payment later) or the seller can negotiate higher rent because he is basically financing a purchase. (This aspect really depends on the negotiating skills of the respective parties). As well, such a contract is relatively risk-free for both sides. The first right of refusal clause prevents the owner from selling the house out from under the renter. The option deposit and time limits allow the owner to still make a sale if the renter is unable or unwilling to purchase the home.
How much rent can I get for my house/condo/duplex/apartment?
Rental rates are directly related to competing units in the immediate area and other factors. Any of our Property Investment Managers will be glad to assist with this very important question via phone (704-405-0634), e-mail ManagementInquiry@CarolinasMetro.com or our online Management Inquiry Form.
What is Carolinas Metro Realty's Collection Procedures?
What is your Service Area?
Mecklenburg, Union, Cabarrus, Iredell, Lincoln, Gaston, York & Lancaster counties.
When does an owner get his/her check?
Who holds the Security Deposit(s)?
Why should I hire a professional property management company to manage my rental property?
If you lack the time or expertise needed for day-to-day management of your commercial or residential real estate investments, an expert Property Manager can help you.
A Property Management company can help you:
In short, Property Managers help you make the most from your rental property and they can save you time, money, and headache.
17232 Lancaster Hwy #108
Charlotte, NC 28277
Local: (704) 405-0634
Fax: (866) 357-5331
Access owner statements and valuable resources conveniently online as your time permits.
We make it easy to pay your rent and submit maintenance requests all online.