If the tenant has made plans to move out, they must notify the property manager of such within the allotted time period. Conversely, if an owner no longer wants to rent the property to the current tenants or is removing the property from the rental market, they have a legal obligation to notify them of such at least 60 days prior to lease end depending on the terms of the lease. Once this notice has been provided or received, tenants will then receive a detailed checklist of items they're responsible for prior to vacating the property.
Owner Portal - This online feature, offered by most property management companies, provides owners with the opportunity to login to their account on the company website and view income and billing statements as well as other account information. Property Review - Property reviews are akin to inspections and are often conducted by the property management company throughout the term of the tenancy if a property owner agrees to such.
Experienced reviewers will visit the property at prescheduled times to check the condition of the property, make sure it is being cared for and look out for items that may need repair.
They are also trained to look for lease violations such as unauthorized pets and occupants. If there is suspicion of unauthorized or possible illegal activity going on at a property, such visits will not be scheduled well ahead of time as with regular property reviews. Rather, the reviewer will arrive at a property with the express purpose of finding out whether any lease violations are taking place. Property owners should be provided with detailed copies of these review reports in order to keep them in the loop regarding the condition of their investment homes.
Rental Analysis - A rental analysis involves a professional property manager reviewing both current market conditions as well as the features of your property in order to set an appropriate rental rate.
If a property is priced too high for current market conditions or much higher than comparable properties, it is much more likely to sit vacant for a longer period of time than its counterparts. Setting the rental rate at the correct price point will aid in minimizing vacancy time and thus result in more return on your investment.
Security Deposit - This is money that the tenant puts down in certified funds prior to the start of the lease and is held in the property management company's trust account. This money belongs to the tenant, remains in the trust account for the duration of the tenancy, and is only to be used to cover damages when the tenant vacates. Whatever funds remain after damages are repaired are returned to the tenant - if the tenant leaves the property damage-free, then they receive their entire deposit back.
Security deposits are typically equal to one month's rent, and in North Carolina, a security deposit can never be more than two month's rent. Industry Information. About Us. Go Back. Products Overview. Product Pricing. Advanced Modules Overview. Advanced Inventory. Advanced Administration. Advanced System Utilities. Advanced Maintenance. Advanced Purchasing. Advanced Human Resources. Service Billing. Interface Module. Services Overview.
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