Frequently Asked Questions (FAQ)

Below you’ll find some quick answers to the most common questions. However, if you’d like to read our extremely in-depth faq with over 30 questions & answers,  simply fill out the form below and we’ll send you a copy.  Thanks!

 

How do I get started?
As soon as we have a signed property management agreement and keys to your property we begin marketing your home! The management agreement can easily be signed digitally from anywhere in the world and we’ll do whatever it takes to get the keys quickly so we can get started.  The full FAQ is great for detailed general questions, but if you’re mainly interested in details regarding getting started visit here
Where do you advertise?
We list our properties on all 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 exude professional presentation. Don’t take our word for it, view our rentals!  Our spectacular rental presentations are then syndicated to a handful of main sites that nearly every renter uses at some point including Zillow, Hotpads, Trulia, Craigslist, Realtor.com, Apartments.com- just to name a few!   In addition, our data feed is syndicated to dozens of smaller sites that add up to a large amount of leads in themselves.  Our website alone generates enough traffic to easily book most of our homes!
What is the rental process?
Our goal is to have your home rented within 45 days, which we often outperform greatly. The secret to renting your home fast has 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 solid prior to any tenants taking a look. The second is setting a realistic rate & strategy considering things such as season, type of property and other factors. We’ll provide you with a market analysis that shows nearby competition, our bottom line rate, and what we expect to receive. Determining rental rates is more of an art than a science, and we balance the two better than anyone.
How long will it take to rent my home?
About 45 days on average.  Winter is a rough but common time to list a home, and you should probably expect to run a bit longer during that time.  We have several strategies for dealing with this issue though and you can read more on those here.   Summer / spring can be quicker but two things should be kept in mind.  First, sometimes we have to get past lower quality tenants to find the great ones, and also this is a renters nation where most tenants must give their current landlord 30 days notice before they move so it’s rare to expect, and probably not productive to mandate moving faster
How do you select tenants and do I have a say?
When someone is interested in your property they can easily apply online.Our application involves:

  • A Credit and criminal background check
  • Current employement verification
  • Two years past rental history
  • Additional proprietary factors

If the applicant passes our screening process and your approval (yes you do have final say!), we will quickly collect the hold deposit. We always collect at least one full month’s rent as a security deposit.  We utilize the standard NC lease written by the NC bar association. We always recommend tenants signing a two year lease, but almost always require at least a one year commitment. Seasonal issues can leads us to choose a shorter term strategy but it will be discussed with you in depth first.  We would also prorate any placement expenses to account for that.  We do have not have owners sign the leases as this complicates evictions when they occurr (extremely rare for us), so you’ll want to both review our template and notify us of any clauses you want added before we move forward.

How will I know if my tenant renews their lease?
In order to reduce friction and more effectively retain great tenants, our leases renew automatically for another term (usually 1 year) 60 days prior to the end of their current term.  Don’t worry, if the tenant is a problem we will not forget to give them notice.  If rent needs to be increased or you want to take possession it’s imperative that we make these notices well in advance of 60 days so mark your calendar!  After that 60 day time frame (within reason) the lease is renewed for a year.  If we are considering a month to month rental (rare) or any shorter term you will be consulted first.
How do you handle maintenance requests?
First, we have a 24/7 emergency call center to handle reports whenever they occur.  When a tenant approaches us with a maintenance issue, we first always try to avoid any frivolous repair bills if possible by effectively troubleshooting with the tenant. If that’s not possible, we will contact you.  Unless there is a good reason, ie we’re already working in the property and need to make a quick judgement call on a minor issue, we are excellent at always notifying our owners the minute an issue arrises. For minor repairs we have several amazing handymen who can handle the issue quickly and affordably. We use great communication, cost caps, and other methods to make sure the only surprises you get are the initial notice that a problem has occurred. For larger repairs, we will contact you first and discuss our proposed direction. We will contact several contractors to compare pricing and with your input choose the best option.

We do not upcharge on maintenance and usually pay the contractors directly from rent the upcoming month, then send you the original invoice with your monthly statement

When will I receive the rent?
Most choose direct deposit for it’s convenience, security, and speed.  We always send our first payments very near to the 10th of the month.  If paid on time, you should almost always have your payment well before the 15th.  However, mail would be much slower, and you also have to account for late payments, large bills, and vacancy by keeping at least two months rent in your personal account at all times.  We currently do not escrow a reserve for you unless requested.  We cannot be held responsible for late mortgage payments etc as a result of failing to follow sound advice on managing rental finances.

You will also be given online access to an owners portal where you can view monthly statements and original contractor invoices live!

Download FAQ

Be sure to check your junk or promotions email folder for your ebook


Need more details?

Here’s a very in-depth look at Victory policies, and you can select only those that interest you most

  • How do I get started?
  • What types of properties do you manage?
  • What areas do you cover?
  • Why should I hire you?
  • How long will it take to rent my home?
  • What is the rental process?
  • Why shouldn’t I manage my property myself?
  • What management options do I have?
  • How soon can you start managing my home?
  • What do I do as a landlord?
  • When do I receive my payment & statement?
  • How can I receive my funds?
  • How much will my home rent for?
  • What can I do to get my home rented faster?
  • What will you do to rent my property? Where do you advertise?
  • What rights do I have in regards to tenant
    selection and quality?
  • How do you handle lease contracts and do I need to get involved?
  • What happens if the tenant does not pay their rent?
  • How will I know if my tenant renews their lease?
  • Who pays for property repairs?
  • Do you use the cheapest contractors available?
  • What should I expect regarding yearly
    maintenance costs?
  • How do you handle preventative
    maintenance & property upkeep?
  • How do I know your company will not authorize pointless or costly repairs without approval?

Rental property Management Frequently Asked Questions (FAQ)

  • How do you handle maintenance requests?
  • Do you work with home warranty companies?
  • I’m out of town or the country; can you start right away?
  • Is it better to rent my home furnished or
    unfurnished?
  • My home has done well as a rental. Can I quickly turn it into a sale?
  • What if I decide to sell my property?
  • What experience and credentials do you have?
  • How large is your company?
  • Are any licenses required to perform property management?
  • Do you treat every owner the same?
  • Does the tenant have my contact details?

 

Free Virtual Rental Evaluation

 

Would you like to discuss options for having a professional manage your rental property? We can quickly provide a cost quote, or virtual rental evaluation to nail down potential income

 

View Our Most Popular Ebooks

 

Was this info helpful? We have tons more free landlord assistance ebooks culled right from our local, in the trenches experience! Download now with no obligation

 

Download Top 10 Tips For NC Landlords

 

Download one of our most popular ebooks for FREE! Get great insights into ways NC rental investors can maximize their bottom line earnings over the long-term