Rental Property Management
Western Carolina Rentals is committed to You, our owners, and to maximizing the return on your investment and preserving your asset. Whether you are a single property owner or own multiple properties, we provide the Experience and Expertise you need to be successful . Our professional team has over 25 combined years of direct rental asset management experience and is very knowledgeable of tenant-landlord law and current market conditions. Our website is well known in the area and comes up on page 1 of many search engines due to its relevancy and ease of use. In fact, we are now averaging nearly 2000 new users every month viewing over 30,000 page views per month. Those that visit tend to stick around and view our rental listings for over 5 minutes at a time.
The Service of Rental Property Management is an umbrella term for the 3 distinct and vital services we can provide to Owners of rental and investment property. Each individual area of service can be operated and billed to the Owner separately or in one coordinated manner. There are different costs associated with each subsequent area of property management. The 3 services are described below as follows:
Rental Management Service
Rental Management is an involved process of tenant/landlord relations while handling tenant and owner funds via a “Trust” Account. Trust Accounts are mandatory per NC General Statutes for anyone who manages a rental property in which tenants are required to have security deposits. The WCR Trust account is set up with a FDIC Insured Bank and follows strict guidelines set forth by the NC Real Estate Commission. Even owners of property who self manage are required to handle tenant security deposits in a Trust Account. Many owners hire us to manage their properties for this reason alone. However, as many owners have discovered, there can be a great deal more involved in managing rental property than it may appear. The fact that we have grown since we started in the area in 2007 with 5 properties to over 100 today is a testament to our hard work ethic and exceptional customer service. In addition to managing a large Trust Account on the behalf of our clients, Western Carolina Rentals also offers the following services as part of our monthly management fee:
- Advertising on the internet and through other various print and online media.
- Professional screening of tenants, including credit and nationwide criminal background checks
- Professional relationship with tenants offering online rental payments at no additional charge to the tenant or owner
- Efficient rent collections and timely owner distributions
- Fielding requests for repairs and maintenance as well as emergency situations.
paying to owner or depositing to owner’s account monthly distributions.
Providing owner with fully itemized and computerized monthly reports and year-end accounting statements.
Annual property inspections.
Arranging tenant notices and evictions when necessary.
A final inspection and closing statement, upon tenants vacating the property.
Home Maintenance can be performed at a reasonable rate by its reliable vendor partners or we can utilize your favorite vendors. If a tenant calls with a repair, we can forward the request onto the owner or the owner can choose to utilize our services to repair the home. Additionally, when a tenant moves out of a home, it is the owner’s responsibility to get the home “rent ready” or “Turn” the home so that we may lease the home to a new tenant. While some owners perform the “Turn” on their own, other owners are unable to or do not care to perform what can be a dirty and tedious task. Western Carolina Rentals can assist with the “Turn” or getting a home ready for a new tenant. Prices vary depending on the service and the work that needs to be performed. As we are very experienced and have reliable vendors, we strive to “Turn” the home quickly so that we may lease the home quickly. Western Carolina Rentals operates as a contractor to coordinate the repair, inspect to ensure the work is completed in a timely manner and pays the vendors from owner funds.
The process of leasing a home is another vital task that can be performed by Western Carolina Rentals. In days gone by, demand for rental housing was very strong and supply in the area was scarce. During this time, it was relatively easy to rent a home or apartment. Today is much different. Now that the home sales economy has slumped, there is greater rental home supply while demand for this abundance of housing is decreased due to layoffs and cutbacks. In this ever challenging environment, Western Carolina Rentals continues to be an industry leader and is maximizing our clients income. Our team strives to be the best in the business and, therefore, homes in our inventory have less vacancy than our competitors or that of owners who try to rent on their own. We charge a one time lease fee to secure a tenant for your property. The cost of this service is calculated on a variety of factors including the location and condition of the home and any limiting conditions that may affect the homes marketability. Whatever cost applies to your situation, we feel confident that the fee will be more than offset by the rental income you will receive faster as a result of our leasing efforts. The description of the Lease-Up Service is as follows:
Evaluating market conditions in relation to your property rental value.
Advertising on the internet including pictures and virtual tours and also through various print and online media.
Showing your property to prospective tenants (we prefer to have one of our team members show the home in person to a prospective tenant as opposed to simply providing a key to view the property on their own).
Tenant Screening including nationwide credit and criminal background check.
Executing the lease agreement with the tenant.
Collecting first months rent and security deposits.
Providing a move in walk through inspection report.