Answers to your common questions
Am I required to make my property available to Section 8?
You are not required to accept Section 8 applications
either per our policy or North Carolina statute.
Are you licensed?
Our company and our employees hold all of the licenses
necessary to meet the requirements levied by the
Real Estate Commission, the state and the federal government.
Can I reach you after hours?
Tenants can get ahold of us 24/7 for emergency maintenance
requests. Otherwise, we are more than happy to connect
with you during our normal business hours.
Can you put the money directly into my account?
Yes. In fact, we prefer to utilize direct deposit with
all of our owners and tenants!
Do I get to see the lease or sign it?
At your request, we are happy to send you a copy of our
standard lease or any signed lease for your property.
As your property manager, we take care of all the details
for you. Therefore, we don’t need to bother you with signing
the lease, as we have everything we need from you as part of
the owner agreement you sign with us.
Do you sell real estate too?
Our focus is property management. We will best support you however
we can in realizing all your goals (real estate or otherwise). While
we hold all the qualifications necessary to buy and sell real estate,
we may introduce you to one of our partners who can better serve your needs.
How and when do I get my checks?
As investors ourselves, we know cash flow to pay the bills is crucial
to owning investment real estate. That’s why we direct deposit funds
to your account twice per month. If you won’t be receiving
all your anticipated funds on the 5th (i.e. the tenant’s rent is
late), we will be proactive about letting you know.
How is rent collection handled?
One area where many property managers and DIY landlords make a
mistake is by taking a passive stance on rent collection. At Sunnon
Property Management, we recognize rent collection generates the cash
flow you depend on. Rent is due on the 1st. We highly encourage tenants
to sign up for our free direct deposit program and most of them do.
Tenants are reminded via email, text, and phone calls if their
rent is not received by close of business on the 1st. If rent should
still be owed after the required grace period, immediate action is taken.
How long of a lease do you sign?
We find that the ideal lease length is typically 12 months. If a shorter
lease better suits your needs, we will work with you to discuss different options.
How much security deposit do you charge the tenant?
Security deposits are property specific and can vary based on a variety of
tenant risk factors. The security deposit is a very powerful tool to
incentivize tenants to abide by the terms of the lease, keep your
property in great shape, and pay the rent on time. Generally speaking,
we find that targeting about one month’s rent works well.
How soon can you start managing my property?
We can start managing and/or marketing your property immediately assuming
it is in rentable condition. After talking with you about your property,
we will send you a proposal. After you accept and we get the keys, we will
immediately begin to coordinate the necessary preparations to get the property
ready. Our preparations include maintenance, photography, videography,
printed materials, and internet listings. The time from receiving your keys
to listing your property online can be as short as one business day depending
on our current backlog and how much preparation there is to make the property rent ready.
What type of properties do you manage?
We manage apartment complexes, multi-family housing, single family houses,
condos, and townhomes that command rents above $1,000 per month. If your
property doesn’t meet these criteria, feel free to give us a call and we
will be happy to introduce you to someone who can better accommodate your needs.
What type of reports do I get and how often?
We can pull just about any type of report you can think of and publish it to
your owner portal. Standard for every owner, we post the following reports:
work orders, 1099, Schedule E, and monthly summaries including profit & loss and account balance.
Who holds the tenant security deposit?
We process security deposits according the state and local laws.
What do you charge?
We offer a variety of service levels. Please check out our pricing page here
For more information about Charlotte Property Management, please visit our educational blog page.