Questions to ask your property manager

You can save yourself some time and just call us, knowing that you are in safe hands. Don’t be fooled; not all property managers are created equally. But if you are still not convinced, the following questions may help you to shape your decision.

1.Will you do everything for us?

Yes, if you want us to. When it comes to property management, our primary objective is to take the stress of your property investment. Our standard property management agreement covers everything from marketing the property, doing tenant background and credit checks, drawing up the lease and associated documents and managing the property thereafter. We are a relatively small organization, so we are flexible in being able to offer additional services. For example, for some clients, we oversee remodelling projects, for others we simply watch over their properties when they are out of town.

2.How quickly do you respond to leads and show the property?
In our case, we normally respond immediately and certainly within 3 hours. We generally show the property within 2 days and try to group showings together. It not only increases the urgency in the mind of the prospective tenant, it also makes it more efficient for us. Prospective tenants can be very fickle, and if you allow too much time, they often find other options elsewhere.

3.How do you market and why is your marketing better?
It takes us less than 24 hours to have a property up on the MLS and syndicated to the main rental websites (there are over 200 sites in total). We have access to the Mid Carolina and Longleaf Multiple Listing Services (and the Triangle MLS also if required). We also enter our rental listings on the Century21 system which boosts its rankings on a number of these sites. The Century21 brand makes a big difference for us.

4.How do you screen applicants and choose the best one?
When an applicant expresses interest in renting a property, we provide them with a link to our credit and background screening system. This provides an overall score and a statement as to what percentage of landlords would accept this tenant. Generally renters will have a lower credit score than property owners and so our main criterion is that the applicant can pay the rent (e.g. they have a regular salary which more than covers the rent). Other criteria might include how soon the applicant can move in. We follow Fair Housing laws closely.

5.Can tenants apply and pay on-line?
Unlike some property managers, we do not ask prospective tenants to do an application before we show the property. We send out the rental application once someone is interested in renting. This does the background checks. Tenants are then given their own portal so they can pay rent on-line and log maintenance requests. 

6.What about contracts and insurance? Do I need an attorney each time?
As Realtors®, we are qualified to complete the standard Realtor® 410T Residential rental contract, pet addendum and maintenance addendum forms amongst others. As a property owner, you will need landlord’s insurance and to name us (as your property manager) as a co-insured on the policy. Your tenants should also have renter’s insurance (this is requested as part of the 410T form).

7.What type of property do you specialize in?
We handle all residential rentals, but currently not commercial. Currently we only do longer term rentals, but a number of our owners also have vacation rentals and they have asked us to look after them, so we should be able to offer this in the near future. Our main coverage area is Pinehurst, Southern Pines, Aberdeen, Raeford and surrounding areas. In fact anything within a 20 mile radius of Pinehurst.

8.How do I know my property will be looked after and what happens with repairs?
We find that all owners have different needs in this respect. Some want to be kept informed about every repair and pay contractors themselves directly, but most leave it with us to find a qualified professional, to arrange the repairs and to bill back the invoice. We don’t add anything on, it is part of the service. We also inspect every property on a regular basis, typically once a year, but sometimes if we have cause for concern, more frequently. We own a number of investment properties ourselves and use the same common sense for our clients as we do for our own properties.

9.How soon will I be paid?
Generally by the eighth of the month. We set up all tenants to pay on the first of the month. So if they move in after the first of the month, they would pay a pro-rated first month’s rent. North Carolina law allows five days before a payment is considered late, so a number of payments come in on the fifth. That gives us one day to calculate the disbursement and make the transfer. The transfer is done electronically through our property management system and usually takes two days.