10 Reasons to Hire a Professional Charlotte Property Management Company

by | Jan 16, 2015 | Uncategorized | 0 comments

Today on our blog we are sharing some quick information in the form of a Top 10 list. Here are the Top 10 Reasons to work with a professional property management company in Charlotte:

10 – Time

If you don’t have the time or the patience to deal with your rental property and your tenants, you should hire a professional property manager. We can show you how to get started and where to go from there.

9 – Out of the Area

If you don’t live in the area, you have no immediate access to your property. You will need someone in the neighborhood who can go by and check on the property and collect rent from your tenants.

8 – Marketing

It’s important to know where to advertise so you can attract the largest pool of prospective tenants. A professional property manager can effectively market your rental.

7 – Screening

It’s important to check an applicant’s criminal background and credit history. If you don’t know how to do this, or you don’t have the resources, a property manager will.

6 – Difficult Tenants

It takes a lot of experience and knowledge to deal with difficult tenants. We have that capability.

5 – Maintenance

You probably aren’t a maintenance guru, and that’s another good reason to hire a property manager. If anything goes wrong at your property, we have relationships with vendors. We can get anyone from an appliance expert to an HVAC contractor. We know who charges an assessment fee and who does reliable work for a fair price.

4 – Security Deposits

You may not know how to manage tenant security deposits. The law differs from state to state and you need to know how much you can charge for a security deposit, how much time you have to return it and what you can keep from the deposit after a tenant moves out.

3 – HOA

If you do not want to be bothered by an HOA, a professional property manager can provide an effective buffer zone.

2 – MLS Access

Professional property managers like us have access to over 8,000 Realtors. Our MLS subscription allows us to syndicate your property’s ad on sites like Zillow and Trulia. This really helps your Internet marketing.

1 – Service

The Number One reason you want to hire a property manager: We are the professionals. We want to provide this service for you and we work hard to guide you along the way. We have experience and knowledge that can help you, so try us out.

If you have any questions about why you should hire a professional property manager, please contact us at Carolinas Metro Realty, and we’d be happy to help you.

Ready to talk to a Charlotte Property Management Professional?

Call or text us at (704) 343-8842 during business hours.

We guarantee that a team member will be on the other end to answer any questions you may have.

APPLICANT RESOURCES

We appreciate your interest in our available homes for lease offered by Carolinas Metro Realty. In order to qualify for one of our rental properties you must submit a rental application. The rental application must be completed by each person age 18 years and older who will occupy the property. Applicants are required to complete the application in its entirety and submit all specified documents.

Leases are granted on a first-approved application basis. CMR will process your application and notify you if you qualify to lease the desired property. Allow two business days for the rental application to be processed. If any additional information is needed a representative will contact you.

Carolinas Metro Realty does not guarantee the availability of any property and will not reserve or hold property. All our properties will remain available for lease until a holding fee has been remitted and a lease document is signed.

QUALIFICATIONS

CMR performs background examinations that include, but are not limited to, the following: credit score; employment verification; criminal records and rental history.

Each adult (over 18 years of age) applicant must have a valid Social Security Number and photo ID
Applicants must have verifiable monthly income of three times (3x) the monthly rental rate
Any non-employment income such as child support must be guaranteed and proven with official documentation
A full credit report will be processed and evaluated to be approved
The last two, at minimum, rental verifications will be requested. Each must show rent payments were made on time and home was left in an acceptable condition.
Prior evictions must be paid off and cannot be in the last 7 years

WHAT WOULD CAUSE AN AUTOMATIC DECLINE?

Evictions
Unpaid balances due to Landlords
Unpaid utility bills
Insufficient income
Non-discharged bankruptcies
Unsatisfactory rental references
The following felonies within the last 7 years:

1. Illegal manufacture or distribution of controlled substances

2. Felonies that resulted in bodily harm or intentional damage or destruction of property

3. Sexual offenses of any kind for any time period

OWNER FREQUENTLY ASKED QUESTIONS

Can CMR 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.

Do I have to allow pets in my rental property?

Each property owner can decide to accept or deny pets.

How can CMR help me if I'm thinking about purchasing investment property?

CMR 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 CMR market vacancies?

www.CarolinasMetro.com

All CMR agent sites such as: 123CharlotteHomes.com www.carolinahome.com www.Realtor.com www.Zillow.com

In Office Services such as: Lead Management Vacancy Flyers Referrals

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) or e-mail ManagementInquiry@CarolinasMetro.com.

What is CMR's Collection Procedures?

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.

When does an owner get his/her check?

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.

Who holds the Security Deposit(s)?

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. CMR 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.

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: 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

In short, Property Managers help you make the most from your rental property and they can save you time, money, and headache.

TENANT RESOURCES

CMR strives to provide an extensive list of resident services to meet the different needs of individual residents in all of our units.

Please report non-emergency maintenance issues via our online form or phone (704) 405-0634 or fax (704) 665-5826. Messages left via voicemail after-hours will be returned the next business day. Please include your daytime phone number with all maintenance requests.

ELECTRICITY

Duke Power Company 526 South Church Street Charlotte, N.C. 28202

Useful Links

  • 24-hour Customer Service Line: 704-594-9400
  • Deposit required for connection. Deposits vary depending on credit history and type of service. Deposit may be waived with good credit and/or a letter from a previous power company.
  • To turn on new service (Open An Account): Click here
  • To transfer service: Click here
  • To close an account: Click here
  • Automated Payment Plan (APP): Click here or call 704-594-9400
  • Equal Payment Plan (EPP): Click here or call 704-594-9400
  • Payment Locations (for payments only): Click here

NATURAL GAS

Piedmont Natural Gas Company, Inc. 4339 South Tryon Street Charlotte, N.C. 28217

Useful Links

  • 24-hour Customer Information Center: 704-525-3882 or 1-800-752-7504
  • Deposit required and varies depending on type of service and anticipated usage.
  • To turn on new service (Open An Account): Click here
  • To transfer service: Click here
  • To close an account: Click here
  • Automated Payment Plan (APP): Click here or call 704-594-9400
  • Equal Payment Plan (EPP): Click here or call 704-594-9400
  • Payment Locations (for payments only): Click here

WATER & SEWER

Charlotte-Mecklenburg Utilities Department (CMUD) 600 East Fourth Street Charlotte, N.C. 28202

Useful Links

  • Customer Service: 8 am to 6 pm: 704-336-2211
  • Connection fee of $32.50 will appear on your first month’s bill.
  • Online New Service Request: Click here
  • Automated Payment Plan (APP): Click here

TELEPHONE

Local telephone service is primarily provided by Bell South. Other telephone companies to operate in the local market. See the Customer Guide section of any local phone book for a complete list of Local Service Providers.

Bell South 200 S. College Street Charlotte, N.C. 28202 Sales, billing & service: 704-780-2355 or 1-800-767-2355 24-hour Automated Customer Service: 704-780-2500

There is no deposit. However, there will be a connection fee based on the type of service and it will appear on your first month’s bill. You will need to select a long distance carrier separately.

Useful Links

  • Ordering Options Online: Click here
  • DSL and Dial-Up Internet Access: Click here
  • Bell South also provides an Automated Payments service, you will be required to register to use this option: Click here

CABLE TV

The primary cable television provider is Time Warner Cable but there are several other providers.

Time Warner Cable 316 East Morehead St. Charlotte, N.C. 28202 Customer Service: 704-377-9600

There will be an installation fee and first month’s charge to be paid at the time of hookup. Installation is By Appointment Only. Charges vary depending on the type of service.

Useful Links

GARBAGE COLLECTION

Solid Waste Services Department City of Charlotte 100 Ott Street Charlotte, N.C. 28205 Customer Service: 704-336-2673

Within the city limits, garbage collection is included in city property taxes. Roll-out & recycling contains are provided by the City and are rolled or placed at the curb once a week. Information on the day of the week for pickup is available through Customer Service. Apartments and some condominiums typically have dumpsters onsite.

Useful Links

  • Collection Schedule, Recycling, Bulky Items, Yard Waste, Dead Animals & FAQs: Click here
  • For information about when your garbage (inside the City limits) will be picked up, click here for the current Collection Schedule Zone Map.

DRIVER'S LICENSE & VEHICLE REGISTRATION

Useful Links

  • N. C. Dept. of Motor Vehicles
  • 1100 New Bern Ave
  • Raleigh, N.C. 27699
  • 24-hour Customer Service Line: 919-715-7000
  • NC Dept of Motor Vehicles Newcomers Guide: Click here
  • NC Dept of Motor Vehicles Office Locations: Click here

DRIVER LICENSE

  • New to North Carolina: Click here
  • Moving Within North Carolina: Drivers must notify the DMV of all address changes within 60 days after the change occurs. You must visit a driver license office within the time period to obtain a duplicate license reflecting your new address. Click herefor a list of the DMV offices.

VEHICLE REGISTRATION

  • New to North Carolina: Click here
  • Moving Within North Carolina: You must inform the NC DMV of a change of address within 60 days. The Change of Address Form (MVR-24A) is available online. Just Click here for a copy.

CHANGE OF ADDRESS

U.S. Postal Service

Useful Links

Tenant FAQs

Are there any utilities included in the rent?

Although there are exceptions, utilities are the responsibility of the tenant.

Can I install a fence?

Possibly, but this requires our prior approval. In addition to prior approval, it is also important to obtain the proper permits and inspections.

Can I paint, hang wallpaper?

Perhaps, however, you will need our approval prior to beginning any project. You may be required to return the property to its original condition upon move out.

Can I pay my rent online?

Yes you can! Payment can be made from your bank savings or checking account and should be done at least 48 hours prior to payment due date. Login information and your password will be emailed to you by move-in date.

How do I call if I have a maintenance issue?

You can call our office at 704-405-0634, or you can make a maintenance request online through the TENANT PORTAL. We do monitor phone calls and emails nights and weekends in case of emergencies. All maintenance issues must go through our office. If you call a repairman yourself, you will not be reimbursed.

My children have been begging me for a pet?

When I signed the lease it said no pets allowed. What do I do? It depends on whether pets are allowed on the property. It could be as simple as paying the pet fee and amending your lease. Call our office to discuss. 704-405-0634.

My job is transferring me to another state, but I still have 6 months on my lease. What do I do?

Unfortunately, you are responsible for making rental payments through the end of the lease. However, if we are able to find a new tenant, then you can be released from further obligation.

My lease is up and I'm moving out. What do I need to do?

You are expected to leave the property in the same or better condition it was in when you moved in. At the minimum, you will need to make sure that you have cleaned the kitchen (including appliances and countertops) and bathrooms, that you have swept and mopped floors, carpets are vacuumed, and that all trash has been removed from the property. If carpets are dirty, you will need to have them cleaned. If you have painted, you may need to return them to their original color. Before painting, be sure to patch any holes in the walls caused by hanging pictures, and/or any other damaged areas. Doing these things will help us in returning your security deposit more quickly.

My lease is up in 3 months, but I love living here! Is it possible to extend my lease?

In most cases, the answer is yes! In most cases, it is possible to sign a new lease. New terms may apply.

My sister and her husband are splitting up. It's OK for her to move in, right

Typically your lease states that only persons that have signed the lease and their children may occupy the premises without prior approval. In this case, an additional person may be allowed, but we will need to do criminal screening on anyone over the age of 18.

When will I receive my deposit?

Your security deposit will be returned to you within 30 days of moving out of the property, less any cost of repairs. If there are damages to the property, then the cost of repairs will be deducted before returning the balance to you. You cannot skip paying last month’s rent and use your security deposit for payment.

Who takes care of the lawn?

In most cases, lawn care is the responsibility of the tenant. Grass must not be allowed to become unsightly. Any penalties or assessments caused by tenant’s failure to keep the lawn and landscaping properly maintained will be passed along to the tenant.

 

John recently joined Gordon Property Management’s maintenance team. He works with Alen in repairing and maintaining residential real estate for GPM’s clients.

Messages for John can be left with Nanette at (415) 554-8812 x 202 or by Email: maintenance@gpmsf.com

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