Property Management

Property Management Explained
Our North Carolina Property Management Company Offers:

Over 10 years of experience in all aspects of Greater Fayetteville Property Management

Advertising and procuring of tenants to include:
Credit Reports
Statewide Criminal and Eviction Checks
National Sex Offender Database Checks
Rental History and Employment Verifications
Collecting, Processing and Distribution of Proceeds of Monthly Rent
Monthly and Annual Reporting of Expenses from our in house accounting department
Legal Processing if rent is not paid on time

Maintenance Requests including:
Furnishing Estimates
Supervision and Scheduling of Maintenance Repairs
Follow Up for Lease Renewals and Expirations and Move-Outs
Move-Out Inspections with Photos and Reports

The most important thing homeowners should know is that in the State of North Carolina, leases are governed by North Carolina Landlord Tenant Law. This is a large accounting of laws that all landlords, individuals, or a Licensed Property manager must follow. Team Harris is a licensed North Carolina Real Estate Company specially trained on these laws. To insure your rights and the rights of your tenants, call us today.

Your rental home is one of your most important investments but it does not have to be one of your most exhausting. Call us to discuss how we can make owning a rental property an enjoyable experience for you.

The Process
This information goes through everything from the initial signing of the Property Management Agreement to lease renewal and collection procedures. The information is broken down into 5 parts:

1. Pre-Rental
2. Renting and Moving In
3. Renewals and Move Outs
4. Work Order Procedures
5. Collection Procedures

Rest assured that our Team will do our utmost to make sure that your experience as a rental property owner is a smooth one.

Pre-Rental
At our initial meeting we will review the Property Management Agreement with you. Once we are hired, we will go to immediate work to find a suitable and qualified tenant for your rental. We will set the rental listing up in our systems.

We will conduct a walk through to determine what repairs should be made in addition to what is listed on the Owner Rental Preparation Checklist (see below).

We will begin by listing your property in the MLS. This will make it accessible to all agents who may have a client looking for a rental. Your property will also be available for viewing by anyone visiting the MLS rental page via our website. We will run incentive programs for agents offering from 10% to 1/2 months rent to be paid to any agent that finds a qualified applicant and the applicant, in turn, signs a lease. A similar incentive may be offered to agents recommending their listings into Team Harris Property Management.

A professional sign will be placed in your front yard. You will show your house while it is occupied, and a lockbox will be placed on the property once it is vacant (the same is true for tenant occupied homes). You will always be notified in advance of someone wishing to see your home.

Rental ads will be placed on www.TeamHarrisNC.com, the MLS, the military website www.AHRN.com as well as sent to the housing office. This marketing is included in your fee.

Monthly fees are 10% of collected rents.

The first month's rent of all lease signings will be paid to Team Harris Rentals. This includes initial set up and document preparation, marketing as mentioned above, and the offering of any incentive programs to agents. This fee also includes the set up of the Home Warranty (not the cost of it).

If at anytime we contract out estimates for work over $1,000 or any work that requires us to visit the property to verify quality and/or completion, a 12% fee will be added to the cost of the work.

If you desire an enhanced marketing package for multiple photos, virtual tour, and advertising on www.Militaryby Owner.com and www.CraigsList.com you will be charged an additional $445.00. (Please be aware, if you choose to run these ads yourself, by NC law you must only put our contact information in the ads. If you do this we will field the phone calls and emails, and you will be charged $400.00). The cost of the ads are only a small part of this expenses, the man power to field the calls is a huge cost and wasted productivity from CraigsList calls is the larger part of the cost.

Owner Rental Preparation Checklist

1. All keys to agent
2. All remotes, fobs etc. left in a kitchen drawer and inventoried for agent.
3. Insurance Information per Property Management Agreement provided to agent.
4. Carpets Professionally cleaned (with receipt for file)
5. House Cleaned to Team Harris Standards
6. Hoes Warranty Information Provided to Team Harris, if already in place (there is a $10 surcharge per incident if Team Harris does not set up or manage the Home Warranty).
7. Copy of Association Docs to Team Harris.
8. Walk through report complete by owner.

Renting and Moving In
All Prospective tenants will fill out an application. Upon receipt of that application we go to work to determine if the applicant is qualified. We run a credit report, criminal checks, and check the national sex offender database on all applicants over the age of 18. If the tenant does not meet or exceed our leasing criteria, then we will confer with you whether to accept or deny the tenant. You will sign an authorization of any tenant who does not meet our criteria.

The deposit is due and lease is signed upon acceptance of the applicant. Tenants will be indoctrinated as to policies and lease conditions. We will send you a copy of the lease. We will collected, process, and hold the security deposit in a compliant North Carolina Trust Account.

Rent payments will be collected and direct deposited into your account. You will receive your funds days earlier via this method. If you request hard checks be mailed, you will do so in writing prior to the tenant's first rent payment.

The day of move in the tenants pay their rent or pro-rated rent, are given the keys, and a 7 day Move-In Inspection form. This form is for them to document anything that is not working properly or is damaged.

Renewals and Move-Outs
Approximately 90 days prior to lease expiration, the sales department will do a market analysis of your home to provide you with up-to-date sales information and rental recommendations. We will contact you to discuss renewing the current lease and any rent increases that we deem appropriate. We will then send a notice to the tenant explaining to them what has been decided. You will be charge a $250.00 releasing fee if the tenant does choose to renew.

If a renewal is decided upon, then a lease renewal signing and walk through are scheduled. If they decide to terminate then we go back through the pre-rental steps. A notice of intentions to move-out is required 30 days prior to the move-out date.

If the lease is terminated, then a final walk-through will be conducted and any damages will be deducted from the tenant's deposit.

Work Order Procedures
From time to time work order requests are sent in from the tenants. North Carolina requires that non-emergencies be received in writing. Upon receipt of a work order, you will either be notified OR previously agreed upon protocol will be followed.

The bill is then deducted from the next proceeds payment and a copy of the invoice and monthly statement will be sent to you. At the end of the year you will get a statement listing all of the deductions that were made, for tax purposes.

Collection Procedures
Rent is due on the 1st and considered late if not received by the 5th of each month. If we do not the rent, then the tenant is contact and a demand for the rent is made. If we do not have the rent by the 10th, we will file paperwork with the Magistrate and Sheriff's Offices for eviction. You will be contact if your tenant does not pay rent by this 10th day.

It is our experience that through applicant screening and maintaining a great relationship and open communication with homeowners and tenants cuts down on our need to enforce collection procedures. We believe in solving the issue before it escalates into a larger problem whenever possible.