Property Management Plans Pricing Definitions
Tenant Placement Fee
We charge no upfront fees whatsoever! Upon the completion of getting your property onboard with us, we immediately begin marketing and advertising your property. We pay for all of these marketing and advertising costs upfront. We also handle the showings of your property, reviewing applications, screening tenants, processing lease paperwork, and preparing a property for move-in. You are not charged this fee until a tenant takes occupancy of the property and pays their first full month’s rent.
Monthly Rent Collection
We have the systems in place to fully track the rental payments at your property and ensure that these are being made timely. We allow your tenant to make their rental payments online, in person at our office, or via mail.
Owner Direct Deposit & Monthly Statement
On or before the 21st of each month, you will receive a statement via email showing a breakdown of your rental payment minus our monthly management fee, as well as any repairs or other fees assessed to your account for the month. These funds will be sent via ACH direct deposit to your bank account. Please remember, ACH payments can take up to 48-72 banking hours to become available in your account.
Upfront Rental Market Analysis
A member of our staff will visit your property prior to it being placed on the market for lease to determine the current condition, what will need to be done to make the property rent-ready, and compare all of this information to the recently leased properties in your area to determine a market value of what the property should rent for.
MLS Listing and Marketing
Not only will your property be listed for rent on the most popular rental websites in the industry, we will also list your property for rent in our local MLS system. The advantage of this is more exposure for your property as this will allow local real estate agents in our area to also view and show your property to prospective tenants.
Security Deposit Collection, Lease Negotiation, Preparation, and Enforcement
Upon a prospective tenant successfully completing a rental application and passing our screening requirements, our office will prepare all of the necessary legal documents such as the lease agreement, any necessary addendums, company policies, etc. and meet with the new tenant to explain these documents and collect their signatures and security deposit. By law, the tenant’s security deposit will be held in a trust account with an FDIC insured financial institution during their entire tenancy. This security deposit cannot be transferred to the landlord, disbursed, or touched in any way prior to the tenant vacating the property. Once the tenant takes occupancy of the property, our office works closely with them to ensure that they are adhering to the terms of their lease agreement.
Renters Insurance Verification
All tenants of Carolinas Dynamic Realty are required to maintain a renter’s insurance policy during the full term of their lease agreement. As a landlord, you will still be required to maintain a general liability homeowner’s insurance policy on the dwelling, but you are not required to cover your tenant’s personal belongings. Renter’s insurance will cover your tenant’s personal belongings. Some policies also cover things such as food spoilage, as well as hotel/motel stays during an emergency.
Tenant Screening and Evictions
When a prospective tenant is interested in a property we have for lease, they must submit a rental application and go through our screening process. During our screening process, we complete credit and criminal background checks, as well as employment and previous housing verifications. We take this process very seriously and strive to select only the most qualified tenant for your property as we do not want to deal with a bad tenant any more than you do. If a tenant defaults on their lease agreement and an eviction is necessary, we work closely with a local landlord/tenant law firm to assist in this process and ensure that everything is done according to state laws.
Weekly Feedback Report When Vacant
While your property is vacant, you will receive an email from our office each Wednesday. In that email, you will be provided with the information from the following week. Included in this email will be, the number of showings your property received, how many visits the Virtual Tour received, and each prospective tenant’s feedback.
End of Lease Walk Through
Upon a tenant vacating your property, we complete a full walk through of both the interior and exterior of your property. During this walk through, we compare the current condition to the condition the property was in prior to the tenant taking occupancy. All tenants are provided with a move-in inspection form that is required to be completed and returned to our office within five days of them taking occupancy. This gives them the opportunity to document any pre-existing conditions so that they are not held accountable for them later. During this walk through, we also compare their notes from their move-in inspection form to the current condition of the property. If damages are found that can be charged against the tenant’s security deposit, we will coordinate having the repairs made and deducting these charges from their security deposit. Please note, there are certain things that cannot be charged against a tenant’s security deposit such as dirty/scuffed/faded walls and dirty carpet. These items are considered normal wear and tear and the cost of doing business as a landlord.
When maintenance is needed at your property, whether it be an emergency or a non-emergency, our office will first determine what type of vendor, such as plumbing, electrical, HVAC, general contractor, handyman, etc. to rectify the issue. Upon this determination, our office will then work closely between between the repair vendor and your tenant to get the repair scheduled. Upon completion of the repair, our office will then follow up with your tenant and complete a quality control survey on the vendor to ensure that all issues have been resolved & the repairs are complete. Prior to any repair vendor being sent to your property, our office has fully vetted the vendor to make sure that they provide us with the fastest turnaround time, the lowest pricing, appropriate licensing/skills, insurance requirements, worker’s comp, etc. Most of these repair vendors have done business with us for many years. Please note, Carolinas Dynamic Realty does not employee any maintenance personnel or own any maintenance companies. All of these repair vendors are their own separate companies and Carolinas Dynamic Realty does not have any ownership interest in any of them. Also, Carolinas Dynamic Realty does not allow any landlord to make their own repairs while a tenant is living in their property or allow the use of their own repair vendors.
Home Warranty Repair Coordination
In the event of a repair that is covered by your third-party home warranty company, we will contact your home warranty company and coordinate the necessary repairs between the repair vendor and your tenant. Please understand that in this case, we have no control over what repair vendor is sent, their schedule, the type of repairs performed, etc. It is all at the discretion of your home warranty company and most repairs can take several days before a vendor will come out. In the case of an emergency, please understand that a different repair vendor may have to be sent at your expense if your home warranty company’s vendor cannot or is not willing to go out quickly enough.
Our goal at Carolinas Dynamic Realty is to place excellent, quality, long-term tenants in your property. Currently, our average tenant has been with us for over three years. As a landlord, keeping one tenant long-term as opposed to turning over tenants on a regular basis is much more cost effective to you and creates much less vacancy time. When a tenant vacates your property, there are costs associated with making the property rent-ready again such as cleaning, painting, landscaping, pressure washing, miscellaneous repairs, as well as the costs of utilities, taxes, and insurance. Working with your current tenant to renew their lease agreement and remain in the property is a win-win for everyone involved as the tenant then doesn’t have to incur the expenses of moving such as professional movers, first month’s rent, and a security deposit at a new place. When your tenant’s lease is around 45-60 days from expiring, a staff member from our office will contact you with a series of questions to determine if you would like to offer your tenant the option to renew or if you would prefer they vacate. If you would like to offer them a renewal, our office will then work closely with your tenant to come to terms on an extension and will prepare all of the necessary legal renewal documents such as the lease agreement, any necessary addendums, company policies, etc. and collect their signature.
While your property is vacant, it is imperative that the utility services are connected and on. This helps to preserve your property and helps to prevent things such as frozen pipes in the winter and elevated humidity levels during the summer. It also makes your property more desirable to a prospective tenant when viewing if the property has active power, heat in the winter, air conditioning in the summer. Keep in mind that most prospective tenants view properties at night and on weekends as that’s typically when they are off work. During the winter months in the Charlotte area, the sun sets early in the day so without active utilities, a prospective tenant will be unable to properly view your property. Also, once a tenant that is living in your property has notified our office that they will be vacating on a certain date, it is imperative that utility services be ordered immediately to begin on that same date as to avoid a disconnection of service. If a disconnection in service does occur, it creates much more work for everyone involved and the utilities companies typically charge extra for this. As a convenience to you as a landlord, our office will contact each of your utility companies and coordinate the activation/transfer of these services for you. Please note, we must have an active reserve fund on account for your property for this.
Facebook Marketing Post
In today’s fast-paced and ever-changing real estate industry, social media marketing is imperative. Some social media platforms allow us to use sponsored ads to promote your property to potential tenants in the general area of where your property is located. This is a great way for your property to gain even more exposure to potential tenants.
Semiannual Interior Property Inspections
While a tenant is living in your property, a member of our staff will visit the property once every six months to check the condition. If any issues are found during this inspection, it is addressed immediately with your tenant and an action plan is created to rectify the issue.
30 Day Rental Guarantee
Carolinas Dynamic Realty guarantees that we can find a quality tenant for your property in 30 days, or we will give you your first two months of management for free. Please note, Carolinas Dynamic Realty must have the final say so on the rental rate, the property must be vacant, you must be willing to allow approved pets (maximum of two), and the property must be in its best, rent-ready condition.
Annual Rental Market Analysis
As we fully understand that your rental property is an investment for you, we want to ensure that you are getting the full value out of it. On an annual basis, our team will re-evaluate your property’s value using data we have compiled of recently leased rental properties in your property’s area to determine the current market value for your property.
Professional Photography & Virtual Tour
The hardest part of leasing or selling a home in any real estate market is getting prospective tenants/buyers through the front door of your property. This is why it is so critical that prior to your property going on the market for lease that it be in its absolute best condition and show well. This includes anything from the property being freshly painted, flooring replaced and/or professionally cleaned, landscaping spruced up, pressure washing, house cleaning, etc. Carolinas Dynamic Realty has partnered with a local real estate photographer who will come out and complete a professional photo shoot of your property. Photos taken by yourself, your property manager, a friend, or family member pale in comparison to a professional who specializes in real estate photos and marketing. Statistics have shown that properties that have been professionally photographed lease/sale substantially faster and for a higher price than those that did not employ the use of a professional photographer.
Year End Statement
When it comes tax time, you may prefer to have a detailed breakdown of all of your income and expenses from the previous year on your property to turnover to your accountant as opposed to having to total these figures on your own.
Sale Market Value Analysis
If you decide that you would like to sell your property at some point or would just like an idea of its value in today’s market, we will provide you with a detailed analysis of the most recent sold comparable properties in your area and a current range of value for your property.
Vacant Property Coordination
Upon Carolinas Dynamic Realty beginning the management of your property or taking over the management of your property from another property manager, it may be deemed that certain things need to be done to your property to make it rent-ready prior to the property being listed on the market for lease. This includes, but is not limited to, fresh paint, flooring replaced and/or professionally cleaned, miscellaneous repairs, landscaping updates, pressure washing, and house cleaning. If this is the case, we have a crew of vendors that we have fully vetted and used for many years that will be happy to complete the work for you by providing the lowest pricing possible and the quickest turnaround time. During this process, Carolinas Dynamic Realty will oversee all of the work. We work closely with each vendor to ensure that the work is being completed in a satisfactory and timely manner. This oversight will require multiple trips to your property during the process. Please note, this fee only applies upon the initial sign up of our services. This fee is not charged to current clients where we have placed a tenant.
Oversee Insurance Claim
In the case of an insurance claim being filed on your property, we will work directly with your insurance company, insurance adjuster, repair contractors, and your tenant (if applicable) to facilitate and oversee that the repairs are made in a timely and satisfactory manner. This oversight will require multiple trips to your property during the process.
HOA Bill Processing
Tired of trying to keep up with when your homeowner’s association dues are due at your property? Let us handle the hassle for you. Each community is different with some dues being due annually, semiannually, quarterly, monthly, etc. Don’t take the chance of missing these payments and having your HOA take legal action against you.
Property Tax Bill Processing
Own your property with no mortgage or no escrow account and tired of trying to keep up with when your property taxes are due? Let us handle the hassle for you. Some properties have separate tax bills from both the county and city and can easily get missed, especially if the tax office doesn’t have your correct mailing address. Don’t take the chance of missing these payments and having your local tax office take legal action against you.
Homeowner’s Insurance Bill Processing
Own your property with no mortgage or no escrow account and tired of trying to keep up with when your homeowner’s insurance bill is due? Let us handle the hassle for you. Don’t take the chance of missing these payments and having your insurance company take legal action against you or place forced insurance on your property.