Owner Questions
SIGN UP PROCESS & APPLICATION PROCESS
WHAT IS THE PROCESS IF I WANT YOU TO MANAGE MY PROPERTY?
We would setup a time to meet at your property. We would like to see it and put together a game plan for your house. At that time we will talk about a range we think your house could rent for, what type of work (if any) needs to be done to rent your house as fast as possible, and any other liability issues that need to be addressed. We will answer any questions you have and walk you through the whole process. We view this as a long term relationship and we want you to know what you are getting into.
HOW LONG IS YOUR MANAGEMENT AGREEMENT FOR?
Our management agreement is very similar to a lease. It is for one year and will renew yearly unless a 30 day notice if given by you the owner or us the management company.
WHAT KIND OF INSURANCE DO I NEED FOR YOU TO MANAGE MY PROPERTY?
You will need to change your insurance on the property from a homeowners policy to a landlords policy. We will require you to carry a minimum of $500,000 in liability coverage but we recommend at least a $1,000,000 in coverage. We will go over all of this at our first meeting at your property.
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DO I NEED TO KEEP THE UTILITIES ON IN MY NAME?
Yes you will need to keep the utilities on in your name until the tenant moves in. At that point it is up to the tenant to get the utilities on in their name. We require all of our owners to get on the Duke Energy revert to owner program. To learn more about this program you can call Duke Energy at 800-777-9898.
WILL I GET END OF THE YEAR TAX DOCUMENTS?
Yes we make tax time easy. In January each year you will receive your 1099 tax documents as well as a full year income statement for the previous year.
HOW AND WHEN WILL I GET PAID?
In a normal month rent is due between the 1st and the 5th. We pay any bills on your account between the 7th and 10th and we pay our owners between the 12th and 15th. That is also when you will receive your monthly owner statement. We also pay bills and vendors again at the end of the month.
I WAS NOT PAID THIS MONTH WHAT HAPPEND?
You will need to look at your owner statement to see what happened. Most of the time that means your tenant paid late and the money had not cleared our bank account in time to pay you. For example: your tenant paid on the 10th but we paid our owners on the 12th. That means the funds did not clear so we were not able to pay you. If that happened you will be paid at the end of the month when we pay bills again.
IS THERE A MINIMUM ABOUT OF MONEY I NEED TO KEEP ON MY ACCOUNT?
Yes we do require you to keep $500 on your account at all time. This is your money but it give us some cash on hand if we have to file eviction paperwork or if we have a bill that came in after we paid you your monthly funds.
HOW DO YOU SCREEN TENANTS?
We have developed our own application point system. You can see how we use it on the rental page of our website. We do everything by law to check out potential tenants. We do background checks, rental references and income verification. All investments carry risk but we try our best to screen out bad tenants from the start. We also have a VERY good track recorded with tenants that we approve for our rental homes. We do less than 1-2 evictions per year on tenants that we approve for a home.
WILL I GET A FINAL SAY ON THE TENANT THAT YOU APPROVE?
Due to fair housing laws we get to make the final say on who is approved not our owners. For example. If we get two applications and one has kids and the other does not, if our owner says do not rent to the family with kids that could be a fair housing volition and we will not go there. Because of that we process our applications on a first come first serve bases. Again we have a very good track recorded for tenants that we approve for our homes. In our property management agreement our owners understand that we will follow ALL fair housing laws, rules and best practices.
HOW LONG DOES IT TAKE TO FIND A TENANT?
That really depends on the condition of the property and the rental amount we are asking for. The type of marketing that we on average we are able to rent our properties with in a few week.
Here is a sample of some of our video marketing.
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Looking for more information?
Check out our Knowledge Center by clicking here
OWNER MONTHLY QUESTIONS
HOW WILL I GET PAID?
When we set your account up we will set you up on ACH payments. We will draft your month rent payment into your checking account.
HOW OFTEN DO YOU INSPECT THE PROPERTY?
We will send you a private pre-move in video a few days before your tenant moves in. After that we try our best to inspect your house once or twice a year. Once your tenant moves out we will provide you a private move-out video so you can see in real time how the property looks. All of this is included in our normal fees. We do not charge any hidden or extra fees for inspections like this.
WHAT HAPPENS IF THERE IS SOMETHING THAT NEEDS TO BE FIXED AT MY PROPERTY?
We are allowed to make repairs that are under $250. Anything over that (unless it is an emergency) we will send you an estimate. You will need to have the funds on your account for us to move forward with the repair. You can easily put funds on your account through your online owner portal.
WHAT HAPPENS IF THE TENANT DOES NOT PAY THEIR RENT?
Rent is due between the 1st and 5th of each month. We charge late fees as of the 6th or the next business day. We also send out late notices at that time. If they have not paid by the 10th we will start the court process. Keep in mind even thought we have started the court proceedings, if the tenant comes in and pays off their balance, we can cancel court at any time.
WHAT IS THE COURT PROCESS IF THE TENANT DOES NOT PAY AND IS THERE ANY COST TO ME FOR THAT?
In NC it normally takes 2 months once the tenant has not paid to complete the eviction process. We do not charge you any fees to handle all of this for you. You will have to pay the court cost to file the paperwork and to the get the Sherriff to do the eviction.
HOW DO YOU PICK YOUR CONTRACTORS?
We are always looking for good contractors to provide services at the properties that we manage. Many times we get them through word of mouth or they contact us. We do require all vendors that we use to have both General Liability and Workers Compensation.
WILL I STILL NEED TO PAY THE INSURANCE, TAXES AND HOA BILLS EACH MONTH?
Yes you will still need to pay these each month.
CAN I HANDLE GETTING WORK DONE AT MY PROPERTY?
- Yes....
HOW DOES THE LEASE RENEWAL PROCESS WORK?
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WHEN THE TENANT MOVES OUT WHAT IS YOUR TURN OVER PROCESS?
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I AM THINKING OF SELLING. CAN YOU HELP ME WITH THAT?
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OWNERS: MONTHLY ISSUES & MAINTENANCE
TENANT QUESTIONS
Application Process / Move in
Q: HOW DO I SET UP A SHOWING TO VIEW A PROPERTY?
A: The best way to set up a showing is through our website. Go to RentWinston.com/home-for-rent and click on schedule viewing on the property you would like to see.
Q: DO YOU HAVE ANY SECTION 8 PROPERTIES?
A: We manage properties for the property owner and it is their decision to rent their home under the Section 8 program. If the property is available under that program it will be listed in the property details above.
Q: WHAT IS THE APPLICATION PROCESS?
A: You will need to complete an application on our website. All you have to do is click the submit an application link on the property that you would like to apply for above.
Q: HOW LONG DOES THE APPLICATION PROCESS TAKE?
A: Typically, it takes 2-3 business day but it could take longer if we have a hard time getting in touch with your current landlord to verify your rental history.
Q: What if my credit score is not good?
A: We do require a minimum credit score; however, there may be options available to counter a poor credit score, such as adding a co-signer or paying a double deposit.
Q: WHAT ARE YOUR REQUIREMENTS TO RENT FROM YOU?
A: You will need to have monthly income that is 3 times the rental amount. We will also pull a current background check, credit check and we will get a rental reference from your current landlord.
Q: IS THE APPLICATION FEE REFUNDABLE?
A: Sorry but your application fee is not refundable. If your application is approved it is good for 30 days so you can transfer it to another property.
Q: I AM APPROVED BUT THE HOUSE I WANTED JUST RENTED TO SOMEONE ELSE. HOW LONG IS MY APPLICATION GOOD FOR?
A: It is good for 30 days from the day you submitted the application
Q: I HAVE TO GIVE A 30 DAY NOTICE TO MY CURRENT LANDLORD. HOW LONG WILL YOU HOLD THE PROPERTY FOR ME?
A: We will hold the property for up to 30 days. Once you have signed the lease and paid your deposit you will need to move in no later than 30 days from your application approval date.
Q: WHAT DO I NEED TO DO TO MAKE SURE THE PROPERTY IS MINE?
A: You will need to sign your lease, pay your security deposit, rent and pet fees if any. If you are moving in before the 20th of the month you will pay a prorated about of rent for that month. If you are moving in after the 20th you will need to pay the rest of the month and all of the following month before you move in. For example: You are moving in on July 15th to a property that rents for $1,000 a month. You will need to pay your security deposit and the balance of July. $1,000 rent divided by 30 = $33.33 rent per day. $33.33 times 15 days left in July equals $499.95 due to move in. If you move in on July 25th you will owe the balance of July and all of August rent before you move in. We will send your your lease electronically and you and sign everything online.
Q: How do you prorate rent?
A: We use a 30 day proration. For example: Let's say your rent is $1,500.00 per month. $1,500 divided by 30 equals a daily rate of $50. ($1500 / 30 = $50). If you move in with only 10 days left in the month your prorated rent will be $500. ($50 x 10=$500)
Q: HOW DO I PAY MY DEPOSIT AND RENT?
A: Once you have signed your lease we will open up your tenant portal. From there you will be able to pay both your rent and your security deposit.
Q: DO YOU REQUIRE RENTERS INSURANCE
A: Yes, You have to provide us proof of your renters insurance before you move in. You need to add Saunders Property Management, LLC as additional insured. If you do not provide us a copy by your move in date we will buy insurance on your behalf and charge your account a monthly fee for that insurance.
A: The best way to set up a showing is through our website. Go to RentWinston.com/home-for-rent and click on schedule viewing on the property you would like to see.
Q: DO YOU HAVE ANY SECTION 8 PROPERTIES?
A: We manage properties for the property owner and it is their decision to rent their home under the Section 8 program. If the property is available under that program it will be listed in the property details above.
Q: WHAT IS THE APPLICATION PROCESS?
A: You will need to complete an application on our website. All you have to do is click the submit an application link on the property that you would like to apply for above.
Q: HOW LONG DOES THE APPLICATION PROCESS TAKE?
A: Typically, it takes 2-3 business day but it could take longer if we have a hard time getting in touch with your current landlord to verify your rental history.
Q: What if my credit score is not good?
A: We do require a minimum credit score; however, there may be options available to counter a poor credit score, such as adding a co-signer or paying a double deposit.
Q: WHAT ARE YOUR REQUIREMENTS TO RENT FROM YOU?
A: You will need to have monthly income that is 3 times the rental amount. We will also pull a current background check, credit check and we will get a rental reference from your current landlord.
Q: IS THE APPLICATION FEE REFUNDABLE?
A: Sorry but your application fee is not refundable. If your application is approved it is good for 30 days so you can transfer it to another property.
Q: I AM APPROVED BUT THE HOUSE I WANTED JUST RENTED TO SOMEONE ELSE. HOW LONG IS MY APPLICATION GOOD FOR?
A: It is good for 30 days from the day you submitted the application
Q: I HAVE TO GIVE A 30 DAY NOTICE TO MY CURRENT LANDLORD. HOW LONG WILL YOU HOLD THE PROPERTY FOR ME?
A: We will hold the property for up to 30 days. Once you have signed the lease and paid your deposit you will need to move in no later than 30 days from your application approval date.
Q: WHAT DO I NEED TO DO TO MAKE SURE THE PROPERTY IS MINE?
A: You will need to sign your lease, pay your security deposit, rent and pet fees if any. If you are moving in before the 20th of the month you will pay a prorated about of rent for that month. If you are moving in after the 20th you will need to pay the rest of the month and all of the following month before you move in. For example: You are moving in on July 15th to a property that rents for $1,000 a month. You will need to pay your security deposit and the balance of July. $1,000 rent divided by 30 = $33.33 rent per day. $33.33 times 15 days left in July equals $499.95 due to move in. If you move in on July 25th you will owe the balance of July and all of August rent before you move in. We will send your your lease electronically and you and sign everything online.
Q: How do you prorate rent?
A: We use a 30 day proration. For example: Let's say your rent is $1,500.00 per month. $1,500 divided by 30 equals a daily rate of $50. ($1500 / 30 = $50). If you move in with only 10 days left in the month your prorated rent will be $500. ($50 x 10=$500)
Q: HOW DO I PAY MY DEPOSIT AND RENT?
A: Once you have signed your lease we will open up your tenant portal. From there you will be able to pay both your rent and your security deposit.
Q: DO YOU REQUIRE RENTERS INSURANCE
A: Yes, You have to provide us proof of your renters insurance before you move in. You need to add Saunders Property Management, LLC as additional insured. If you do not provide us a copy by your move in date we will buy insurance on your behalf and charge your account a monthly fee for that insurance.
Tenant Monthly Issues
Q: I HAVE A FRIEND THAT WANTS TO MOVE IN WITH ME. HOW DOES THAT WORK AND CAN I SUBLEASE MY PROPERTY?
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- Sorry but if it is after hours you will need to call a locksmith.
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- Rent is due by the 5th and is late on the 6th. If the 6th falls on a weekend or Holiday your rent will be considered late the next business day.
Q: HOW MUCH IS MY LATE FEE?
- Your late fee is 5% of your total rent amount. This would need to be paid with your next rent payment.
Q: I CAN'T PAY RENT THIS MONTH. WHAT WILL HAPPEN?
- First off you need to stay in touch with us and let us know what is going on. We normally file for evictions each month between the 10th and the 12th. We will get a court date for small claims court where they will hear the case. Depending on how that goes we will file the paperwork with the Sheriff to do the eviction of the property.
Q: ARE THERE ANY MAINTENANCE ISSUES THAT I NEED TO TAKE CARE OF?
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Looking for more information?
Check out our Knowledge Center by clicking here
TENANT MOVE OUT PROCESS
Q: I AM GOING TO BE MOVING OUT AT THE END OF MY LEASE. HOW MUCH NOTICE DO I NEED TO GIVE YOU?
- Our leases require a 60 day notice to vacate
Q: HOW WILL YOU HANDLE MY SECURITY DEPOSIT ONCE I HAVE MOVED OUT?
- By NC law we have 30 days to provide you an accounting of your security deposit. If for some reason we need more time we can give you notice during that 30 day period that we need more time and we can extended our time another 30 days.
Q: WHAT IF I OWE MORE THAN MY SECURITY DEPOSIT IS?
- The owner can decide what they would like to do for that. If the owner wants to they could file for a money judgement for the amount due.
Q: WHAT KIND OF DAMAGES CAN YOU CHARGE ME FOR?
- In NC the landlord can charge for any damages that are above normal wear and tear. For example, small suff marks on the wall we would not charge for that. Red paint on the carpet, we would charge for that.
Q: WHAT DO I NEED TO TURN IN TO YOUR OFFICE SO I WILL NOT BE CHARGED RENT ANYMORE?
- We will need for you to sign a Tenant Property Release Form. You can do that by clicking here. You also need to turn your keys in at our office. You can drop them off or mail them to our office, but please beware, you will be charged rent until we have have received your keys and property release form. It is VERY important that we have your new mailing address. This is where we will send any information about your deposit.
Q: When will I hear something about my security deposit?
- Within 30 days from your move outdate.
Q: I have to break my lease early. How does that work?
- Things happen. Here is a video walking through the process if you have to break your lease early.