Every transaction affecting your account balance is recorded and explained in detail. Our computerized accounting system enables you to see transactions online in real time. Owners have access to property management agreements, rental agreements, tenant ledgers, repair orders, and personal information direct from their trust accounts. Copies of all work orders and receipts are kept on file throughout the year. We provide this information at the end of the year as well as a 1099, to help with tax preparations. All of this information is available online 24 hours a day as well.
MANAGEMENT FEES AND RENTAL POLICY
Our monthly management fee is payable when the rent payment is received. It is automatically deducted from your account at the time the rent payment is posted. However, since one of our jobs is to keep your property occupied we will not deduct the monthly management fee if your property is vacant. We only get paid when you do with our Property Management Services. We pay within the first check cycle after receiving payment. We pay our owners twice a month so if there is a delinquency, we keep the money going to you not held in our account.
Bad tenants and unplanned vacancies can be costly. We help you attract the best tenants by marketing to qualified candidates. We have a very thorough screening process that includes a formal application and credit and background checks. We look for potential red flags like previous evictions, foreclosures and bankruptcy. We also require proof of income, proof of residence and a solid rental history. We conduct an in person interview and a move-in inspection with each tenant where we explain the tenants’ responsibilities as well as our company policies. We strive to establish good communication and make sure that all parties are properly informed. If there are issues with your tenant, we are there to help you mitigate them in a way that protects your property and your bottom line.
For additional protection, appropriate security deposits are always collected upon completion of a rental application by a prospective tenant. Deposit amounts are based on the monthly rental rate and the credit worthiness of the tenant. Applicants with pets are required to pay an additional, non-refundable pet deposit if a pet is approved by the owner. The tenants sign a pet addendum that makes them aware of the additional responsibility they are assuming with pets.
All deposits are maintained in a trust checking account as required by state real estate regulations until they are either refunded to the tenant upon the successful check-out inspection or are forfeited to cover damages caused by lease violations.
Our main job is to protect your investment property with our Property Management Services. We do this in two different ways. First we make frequent drive-by inspection tours of your property. It is stated in the tenants lease agreement that we have the right to make routine announced inspections. Tenants are always notified of pending property inspections. Inspections are conducted with the tenant present if possible, using the property condition report that was executed by the tenant upon move-in. We compare for discrepancies, missing items, and any damage. At the same time we also check for preventive maintenance items and we take full pictures as well.
Elite Team Realty Property Managers conduct routine inspections, and tenants who are doing a good job receive a call thanking them for their time and the care taken in maintaining their home. Tenants who are doing a poor job are also notified, and then we follow up with a second inspection ten (10) days after the tenant has received the failure report. If the tenant has not shown good faith by providing proper maintenance or making requested repairs we will begin proceedings to correct the problem at the tenants expense.
REPAIRS AND MAINTENANCE
Timely and competent maintenance is the key to protecting your investment. Our work is guaranteed and performed at a reasonable price using only qualified professionals. You reserve the right to schedule and control any or all repair and maintenance responsibilities if you desire.
Routine repair and maintenance will be performed as needed and will be based on urgency and importance. For any major job, we usually obtain written estimates from three different companies, notify you, and obtain your approval before we proceed.
Elite Team Realty works with buyers, sellers, renters and investors to provide a full complement of specialized, professional real estate services. Our commitment to our clients has made us one of the top property managers in Charlotte NC. We have over 20 years of experience and we can help you with whatever your real estate need may be. We ensure the quality of the work performed by making spot checks and follow up inspections. You are further protected because each job is fully documented in writing and supported with receipts and pictures.