Owner FAQs
Answers to your frequently asked questions
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Do you meet the tenant candidates before you rent to them?
We sure do! We love meeting our tenants and make sure we have talked with them before we sign leases. -
What criteria do you use for screening prospective tenants?
We require a minimum credit score of 620, a income of at least 2.5 times the rent, and each tenant over the age of 18 must complete an application. We conduct a tri-merge credit check, along with comprehensive eviction, criminal, and predator checks. Tenants are required to view the property prior to completing an application.While we can’t share applications, we will always consult with you directly before we send any agreements over for signatures. -
How long of a lease do you sign?
Our standard lease term is 12 months, with the option to renew at the end of the lease period. We will work with you to determine if your property or applicant maybe a better fit for a shorter-term lease and what conditions you want to have met. -
How is Rent collected?
Technology has come a long way! We use the latest tools renters want today. We have online portals for both tenants and owners where rents are collected and disbursements to you are handled via ACH transfers. We accept payments at our offices, checks via snail mail, and have alternative pay near me stations as well. We want it to be easy peasy for tenants to pay rents! -
When is rent distibuted to owners?
As fast as we can! We work hard to track deposits clearing our accounts so we can pay you. We pay owners within 5-7 days after the 1st of each month, unlike most companies that pay at the end of the month. Our system is designed to perform ACH transfers directly to your accounts. -
How much security deposit do you charge the tenant?
The standard security deposit is equivalent to one month’s rent. In specific situations, an additional deposit may be negotiated. -
Who holds the Security Deposit?
Choice Properties LLC holds the Security Deposit. At the end of the lease, once accounts are reconciled we return the deposit quickly minus any funds due for conditions and rents owed. -
What type of properties do you manage?
WWe manage single family homes, condominiums, townhomes and multi-family units. -
What resources are used to market my property?
We provide a professional photographer to capture the best photos and videos of your home at no cost to you. We believe a strong visual web presence is crucial for attracting potential tenants. Additionally, we cover any commissions paid to Realtors that bring us the new tenant, so you won’t be charged for those.We advertise our rentals on MLS plus 200websites and paid platforms such as Zillow and Rent Beast. -
How soon can you start managing my property?
We will start marketing your property once the Exclusive Property Management Agreement is signed, we receive the necessary property details and the property has been cleaned and prepared. -
What is your Management Fee?
We charge a management fee of 7.5% of the monthly income. For renting the home, we charge 50% of the first month’s rent (minus the 7.5% management fee; we do not charge both simultaneously). This fee is not charged in full for lease renewals, nor is it recharged in full if a tenant breaks their lease within the first term and we need to re-rent the property (which is rare). Lease renewal fees are $50.00 -
Do you inspect the property prior to and throughout the term of the lease?
We do! We have several inspection points. If pets are on premises we do a 30-40 day new lease pet checkup.We hire professional third-party vendors comprised of home inspectors and real estate professionals to ensure your home is safety compliant. They take Move-In/Move-Out/Mid Lease photos, which can be used in court as independent, unbiased evidence and for insurance purposes. This service costs $150, plus the cost of batteries or new detectors/filters if needed at the time of inspection.
While the home is vacant, we regularly check on your property to ensure everything is in order—no running water left on, no extreme AC/heat temperatures, and no storm damage.
While the home is occupied, we conduct semi-annual property checks.Our vendors are also trained to have a look around and let us know if they see anything amiss.
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How are repairs/cleaning handled?
Tenant submit repair request via their online portal and our software is designed to help us troubleshoot, capture video’s and photos that can assist in how to send the best repair vendor onsite. We have a licensed/insured professionals for all necessary cleaning and repairs.Every step is tracked from submission, scheduling, confirmation of repair to vendor payment.You can choose your level of involvement in approving work and set a dollar limit for costly repairs, such as HVAC repairs. We will work with any preferred vendors you have.All cleaning and repairs must be professional and meet our standards. -
Do you have any add on fees or mark up vendor invoices?
We do not charge any add-on fees or markup invoices. -
Are there upfront fees?
We do not charge any upfront fees. -
Why type of reports do I get and how often?
You will receive an Owner’s Statement each month. This statement lists rent payments received and all money paid out for repairs and management fees.We can arrange custom reports too! -
Do you sell real estate too?
Yes, I am a licensed realtor in North and South Carolina and would love to help you with anything you need! -
How do I communicate with your office?
Anytime you need us, reach out! We answer our phones and return calls when we are not there to answer. You can easily reach us via office, cell, portal and text. -
Am I required to make my property available to housing vouchers such as Section 8?
There is no requirement under federal law that housing providers accept vouchers; however, many states and localities have added “source of income” as a prohibited basis for discrimination under their fair housing laws.