Landlord Frequently Asked Questions (FAQ)
This FAQ is a very basic overview of how we operate. We have a detailed proprietary copy you can have emailed to you by visiting this link. Thanks! In Depth Victory FAQ
How do I get started?
Once we have received a signed property management contract and have collected the keys to your property, we will begin marketing your home! We will personally take an abundance of pictures of the interior and exterior of the property, as well as any community amenities. There are no upfront costs associated with ANY of our services.
Where do you advertise?
We list our properties on the top rental websites. In today’s world, the first place tenants look for a rental home is online. All of our listings are unique to each individual property, and offer a professional presentation. The listings are accessible for anyone as we list on Trulia.com, Zillow.com, Craigslist.com, and Postlets.com- just to name a few! We also list on MLS where brokers have the availability to find our homes as well as Realtor.com. Our website alone generates enough traffic that getting your home in front of tenants is not a problem!
We will also provide you with access to the statics from our website where you can view the traffic being generated from your listing. You are given as much detail down to which picture is viewed the most!
How long will it take to rent my home?
Our goal is to have your home rented within 45 days, which we often exceed. The secret to renting your home fast is two parts. The first is making sure it is in excellent showing condition. Be sure all minor repairs are complete and the general condition of the property is good prior to any tenants taking a look. The second is the rate. We will give you a realistic rental rate for you home based on comparable properties and the market. The rental market is becoming stronger, and prospective tenants will surely overlook your home if it is priced too high. Determining rental rates is more of an art, than a science and there is a direct correlation between rental rates and vacancy.
What is the rental process?
When someone is interested in your property they will be given an application.
Our application involves:
- · A Credit and background check
- · Current employee verification
- · Two years past rental history
If the applicant passes our screening process and your approval, we will instruct them to pay the security deposit. We always collect one full month’s rent as a deposit. We will then execute the lease and send a copy to you. We utilize the standard NC lease written by the bar. We always recommend tenants signing a two year lease, but prefer at least a one year commitment. Any shorter of a term will be approved by you first. Any applicable pet fees (to cover professional carpet cleaning at the end of the lease) are due as of the lease start date. The pet fee will be sent to you with the first month’s rent proceeds to cover professional carpet cleaning, deodorizing and flea treatment (if applicable) at the end of the tenants lease.
The tenant’s security deposit is held in an escrow account following NC Real Estate law. At the end of lease and per our move out inspection, it will be reissued to the tenant minus any damages beyond normal wear & tear/pet damages, etc. The escrow account is managed under STRICT NC real estate guidelines.
How will I know if my tenant renews their lease?
About 75 days prior to your tenants lease expiration, you will be contacted about renewing your tenants lease. This is to determine if you still want to rent out your property and/or if you desire any rent increases. We will then contact the tenant inquiring about their plans to renew or remind them if they plan to vacate, that we require a 60 day written notice. If your tenant renews, you will be sent a copy of the renewal. If they give notice, we will contact you letting you know when they plan to vacate and will begin advertising the property.
How do you handle maintenance requests?
When a tenant approaches us with a maintenance issue, we first always try to avoid any frivolous repairs if possible. For minor repairs that need attention, we keep several handyman on call that we can schedule the repair with. We will always keep you informed on the process. For larger repairs, we will contact you first and discuss our proposed direction. We will contact several contractors to compare pricing and proceed with the most reasonable.
We do not upcharge on maintenance and we can deduct the bill from the contractor directly from the rent before it is dispersed to you.
When will I receive the rent?
We can direct deposit the rent, minus our management fee and any maintenance costs, and it will typically arrive in your account by the 11th each month.
You will also be given online access to your owners portal where you can view monthly statements and contractor invoices live!
Sign up for property management now and we’ll quickly respond with our onboarding package…