Owner Frequently Asked Questions
How would I go about evicting a tenant?
Evicting a tenant can be tough. It’s inevitable and we have had to deal with this from time to time. Worry not, we have over 11 years of experience in dealing with situations like this. Our Bottom Line process follows the local state and county procedures, we will handle the eviction process from initial filing to writ/lockout if need be. Bottom Line Property Management is well versed in the process and works with legal counsel when necessary to make sure the process is as expeditious and smooth as possible during this trying time.
Are your repair and maintenance personnel employees or contractors?
Bottom Line Property Management utilizes a network of preferred and trusted local vendors. We ensure that these repairs and maintenance are performed only by qualified individuals who provide a quality service at a fair price.
If I have my property managed by Bottom Line Property Management, can you save me money?
Yes. In most cases, we have found that our fees are more than offset by our ability to obtain higher rents, less delinquency, lower vacancy rates, lower repair costs, and a faster turn-around of vacating units. In short, your cash flow will be better than if you try to manage all of the day-to-day burdens yourself. The Owner can also usually write off these management expenses and get a schedule E tax deduction for these services. Our services help to protect your investment, enhance your cash flow, and save your valuable time.
Do you charge the tenant a security deposit?
Yes. The security deposit is typically one month’s rent.
What about a pet fee?
Pets are not allowed without your permission. When pets are allowed, an additional pet fee of typically $250 – $500 is required for each pet. Damage above and beyond the pet deposit remains the tenants’ responsibility. The pet deposit is used to offset the costs of steam cleaning that is done on your carpet after the tenants vacate.
Do you keep up with all the changing rules and regulations with new legislation?
Yes. Bottom Line Property Management is a member of the National Association of Residential Property Managers (NARPM) and The National Association of Realtors, (NAR). These organizations are constantly monitoring industry legislation and changes.
Will I know what is going on with my property?
Yes. We place a great emphasis on maintaining a high level of communication. We will contact you at reasonable times to discuss repairs and turnover quotes when needed. On the monthly owners statement we will summarize all activities occurring with your rental property each month.
How do you qualify applicants that want to rent my property?
Our application is designed to generate complete information from each prospective tenant. We process all applications and verify criminal background, rental history, employment history, and income verification and credit history.
Do you advertise vacancies?
Yes. We start marketing your home immediately following the turnover process. We know where to advertise to find tenants quickly. We know the rent values and time on the market in your submarket. Additionally, we then advertise in the local community, through web-based resources, and through a Realtor referrals network.
Do you handle problems late at night?
Yes, 24 hours a day, 7 days a week. Tenants are given our number when they move in and in the case of an emergency are directed to call us 24/7. Many times we can solve minor problems over the phone, and initiate a scheduled non-emergency repair. Other times a tenant may place a non-emergency online repair request 24/7.
When do I get my monthly statement and check after the tenant pays their rent?
We offer a monthly statement at the end of each month. There is also an easy to use “owners portal” that gives you 24/7 access to your statements and other documents.
Are your management fees competitive?
Yes. Our monthly property management fee starts out at 10% of the monthly rent amount. Our tenant procurement fee is equal to 50% of one month’s rent. We charge no fees to set up new accounts. No surprises. We operate off of transparency and mutual trust.
Does your management agreement give you the exclusive right to sell my property?
No. But we can sell your property if you would like us to, but it is not a requirement of our management contract.
Are you licensed?
Yes. Our entire leadership team and Real Estate Agents are licensed by the North Carolina Real Estate Commission (NCREC).
Can you manage my properties today?
Yes. We can start the process immediately. Contact us today to set up a no-obligation consultation to discuss your property in detail.
If you have any more questions, feel free to contact us today. If you want to get more in-depth with how we manage your property, check out the top 5 questions to ask a property manager. The Bottom Line Solution offers True Professional Property Management to property investors and landlords.
5 QUESTIONS TO ASK A PROPERTY MANAGER
FREE RENTAL ANALYSIS