Charlotte Homes and Rentals offers the most comprehensive property management services available:
- 24-hour emergency maintenance service
- Accurate accounting of all funds
- Aggressive marketing of your property
- In-house contracting services
- Supervision of maintenance repairs (our contractors)
- Detailed, monthly owner statements
- Detailed rental applications
- ACH deposit (if requested)
- Enforcement of lease provisions
- Handling evictions if necessary, although with our screening process this is a rare occasion
- A professional resource for the landlord
- Lease negotiation and preparation
- Recommendations to make your property rent-ready
- Rent collection
- Rental market analysis
- Security deposit collection, maintenance and distribution
- Property shown by licensed real estate agents
- Thorough screening and selection of tenants
- Inspections of the property including photos
- Registering of properties in the city of Charlotte with the Police Dept. This is a new law.
Leasing Fee: 50% of First Month rent
If your property is vacant and it needs to be marketed for a new tenant there will be a Leasing Fee of one-half of one full month’s rent, once the property is rented. For example, if we lease your home for $1,000 per month, there will be a Leasing Fee of $500.
- This leasing fee is charged each time we rent your property to a new tenant
- There is a one-time $250 charge for taking in a property with an existing tenancy that is in place when we begin managing your home. This is only if there is a current tenant in the property we are managing.
- No fees will be charged for lease renewals
- We never charge a start-up fee
- We never charge a minimum monthly fee
The Leasing Fee covers all expenses we incur in marketing and leasing your home, including:
- Tenant screening
- Media advertising
- Charlotte Homes and Rental web page
- Professional signage
- Digital photos
- Licensed real estate agent to show the property
- Initial property inspection and evaluation
- Rental Analysis
- Rent schedule planning
- Initial maintenance schedule planning
- Set up property & tenant property management software
- Other marketing expenses incurred to lease your property
Management Fee: 8% of all rent collected
Charlotte Homes and Rentals will collect the monthly rent from the tenant as it becomes due. You will receive the rent that has been collected on your behalf, minus the 8% Management Fee. Section 8 rental management is 10% plus an annual $250 service fee. Included in the Management Fee are the following services:
- 24 Hour emergency contact
- Collection and distribution of the security deposit
- Execution of lease extensions and/or terminations
- Monthly report which details your income and expenses for the property
- Periodic property inspections
- Rental and maintenance record upkeep
- Maintenance scheduling, supervision and accounting
Maintenance and Repairs
Owners are contacted for any repairs or maintenance prior to the work beginning, with the exception of emergency repairs, and owners are provided an estimate(s) for the work needed.
If a property owner chooses to handle their own maintenance and/or repairs they then become responsible for paying for and inspecting those repairs directly with whom they hired for such repairs – Charlotte Homes and Rentals is not accountable nor responsible for any repairs that are performed by the property owner or anyone the property owner hires to perform repairs, when Charlotte Homes and Rentals has not directly authorized and ordered said repairs.
How much will my property rent for?
Proper pricing requires experience in and knowledge of the current rental market. Charlotte Homes and Rentals is actively engaged in the ever changing trends within this market. Some of the factors that we use to determine a property’s rent are:
- Comparable properties in your neighborhood/area
- Condition of the property
- Current market conditions
- Location of the property
- Neighborhood amenities
- Time of the year
Before we can give you an accurate assessment of your property’s rental value, an agent of Charlotte Homes and Rentals will need to walk through your home.
How will you market my property?
Charlotte Homes and Rentals will market your home to reach the largest amount of potential tenants. Some of the ways we market your property are as follows:
- Promoting your property at www.CharlotteHomesAndRentals.com
- Your property is added to the Multiple Listing Service (MLS) which is accessed by Realtors and prospects going to www.carolinahome.com
- Arranging and showing properties seven days a week
- Digitally photographing the property and posting the pictures to MLS and 100’s of other websites
- Professional yard and directional signage
- Your property is also added to other internet websites including: Oodle.com which posts to 100+ sites including: Military.com, Classifieds.com, Rentbits.com, Apartments.com, Rentals.com, RentalHomesPlus.com, FreeRentalSite.com, Rentlinx.com, Rentmyhome.org, Condo.com, Cazoodle.com, RentLizard.com, RentalAds.com, OLX.com, HomeTownRent.com, Vast.com, Googlebase.com, Tenant.com, HotPads.com, MyNewPlace.com, RentJungle.com, RentalHomePros.com and many more.
How will my property be shown?
Charlotte Homes and Rentals uses our own Licensed Real Estate agents to show the property. The property is listed on MLS so cooperating agents from other companies may show the property as well. In addition to agents showing the property, we have advanced quick access methods of showing the property to help secure tenant if they need to see the house immediately, ask your agent if your property is eligible for this feature.
How long will it take to lease my property?
There are several factors that contribute to how quickly a property will rent. These include the following:
- Is the property priced at market value?
- Is the property in good condition?
- Is the property in a desirable area?
- How many other rentals are on the market?
- What time of year are you marketing the property?
While there is no guarantee for how quickly a property will rent, our experience and knowledge of area rentals combined with an aggressive marketing plan will help you avoid extended vacancies. We strive to rent your property in the shortest possible time to the most well-qualified tenant.
How do you screen potential tenants? How do I know I am getting a good tenant?
A good tenant is one who pays the rent on time and who takes care to preserve the value of the property. The best way to find a good tenant, as well as avoiding a bad one, is by having a thorough screening process. Charlotte Homes and Rentals uses the following five resources to gather the needed information:
- Credit report
- Employment and income verification
- Nationwide eviction report
- Criminal report
- Prior rental/mortgage history
Do I have to rent to roommates? How about families with children? Pet owners? Smokers?
There are seven protected classes according to Federal and State housing laws. These protected classes include: Race, Religion, Color, National Origin, Sex, Handicap, and Familial Status (children under 18). You are not required to rent to smokers, pet owners, roommates, etc. However, you may want to consider renting to tenants with pets as 80% of all tenants have them.
Do tenants pay a security deposit? How much? What happens to the tenant’s security deposit?
Yes, all tenants pay a security deposit. The required security deposit for tenants who qualify with our top rating is the equivalent of one month’s rent. For instance, if a tenant rents a home for $1,200 the tenant will pay a security deposit of $1,200 at the time they sign the lease, and then the first month’s rent of $1,200 is due by their move-in date. The security deposit is held in a trust account in accordance to N.C. General Statutes.
Who collects the rent?
All rent is due and payable to Charlotte Homes and Rentals. Property owners will have no involvement in the rent collection process.
Can you deposit the rent payment money directly into my checking account?
As rent is received by Charlotte Homes and Rentals, it is placed into our trust account. When we disburse proceeds, the rent can then be wired via ACH directly to your account.
When do you mail the property owner their checks?
Owners will receive the rent that is collected each month on or before the last day of the month in which the rent was collected. NC State Law requires property managers to confirm the rental payment is cleared before an owner can be paid. Owner checks are usually mailed on the 25th of every month. Direct deposit is available is typically the quickest way to get your rental proceeds.
Do I get a written statement accounting for income and expenses?
Yes, as an owner you will receive a monthly report accounting for the financial activity for your property for both month-to-date and year-to-date. The year-end summary provides you with an accurate accounting record for your property, which is also useful in your income tax preparation. Direct deposit payments will receive emailed statements.
Who is responsible for repairs to the property?
By law, the owner of the property is responsible for maintaining the property in a “safe, fit and habitable” condition. This means that the owner is responsible for structural and mechanical upkeep. The only exception to this is if the tenant damages the property through intentional or negligent misuse. If this happens the tenant is responsible for repairing the damage. The tenant is always responsible for the following items:
- Changing heating and air conditioning filters
- Keeping the plumbing lines free of hair, grease and debris
- Replacing smoke detector batteries, as needed
- Grass Cutting (if not provided by the HOA).
Am I informed of all repairs you make on my property?
Yes, except in the case of an emergency. The property management agreement does allow us to make repairs to the property without your consent as long as the repair does not exceed $250. Nevertheless, it is our policy to always try and reach you before any repair is made.
What happens if there is an emergency?
We are available to the tenant 24 hours a day 7 days a week for emergencies. In the event of an emergency such as a broken water line, sewage back-up, an electrical problem, a leaking roof, or any other dangerous occurrence we will be available to handle the situation. We will make every attempt to contact the homeowner, but the most important matter is protecting the safety of the tenant and preserving the value of the property.
Who pays for the utilities at the property?
The tenant is responsible to pay all utilities at the property including: power, gas, water, cable, telephone, trash pickup, etc. unless otherwise negotiated in the lease.
What happens if a tenant fails to pay rent? How do you handle evictions?
We are very proactive in collecting the rent. The rent is due on the first of the month. The tenant has a five day grace period to pay the rent without a late fee being charged. If the rent is not received by the fifth of the month, then a late fee is assessed. If the rent is not received before the sixth day of the month we then contact the tenant by telephone and/or email. If the rent is not paid by the tenth day of the month, we file eviction papers in small claims court the next day. We believe that keeping in close contact with the tenants helps keep collection problems to a minimum.
How often is my property inspected?
There will always be an inspection of the interior and exterior of the property before a tenant moves in and also when the tenant moves out, complete with a report and photos. We offer bi-annual inspection services as well.
Can I sell the property while the tenant is under a lease? What if I need to move back in to my home?
It is important that you understand that once we have signed a lease between a tenant and Charlotte Homes and Rentals, the tenant is entitled to remain in the property for the duration of the lease. The lease would remain in effect even if you sell the property. If there is any possibility that you may need possession of the property within the next year then you should not lease your home at this time.
How soon can you begin managing my property?
If you are not currently under contract with another real estate firm we can begin managing your property as soon as the property management agreement is signed by everyone. If you are under contract with another real estate firm we cannot manage your home until your current agency agreement is terminated.
How long is the property management contract?
The property management agreement will begin on the date that you sign it, unless otherwise noted, and the agreement can be terminated by either the Landlord or the Manager with a 60 day written notice, if the home is vacant. There is a $250 early termination fee if the agreement is cancelled within the first 90 days. Property management agreements that are cancelled while a lease is in effect will entitle the management company to all leasing and management fees that would have been owed through the course of that lease.
What are the next steps to have Charlotte Homes and Rentals manage my property?
Contact us at 704-301-9400 or email us at Bryce@CHARmailbox.com to schedule a time for one of our licensed real estate agents to meet with you. We look forward to hearing from you soon!