Carolinas Realty Group has roots in this community that run deeper than buying and selling homes. We also have experience managing rental properties in the Carolinas. We take great pride in offering a better experience for landlords and their tenants.
In order to offer the best service, we work in conjunction with Park Avenue Properties LLC. Their portfolio includes approximately 2200 single family homes, town homes and condominiums in the Greater Charlotte and Lake Norman (NC), Raleigh (NC), Greenville (SC), Charleston (SC) and Memphis (TN) areas. We define greater area as a 40 mile radius in any direction from any downtown area. We do NOT manage Homeowner’s Associations (HOAs) as we strive to be known as an industry expert in Property Management and not Association Management.
Due to the economy over the past decade, more and more individuals and families have turned to property management, therefore changing the rental community when it comes to homes for sale in Charlotte. We understand not everyone can afford to buy, but we believe everyone deserves a home. Carolinas Realty Group’s goal and success is found through matching those in need with available inventory. As a result of this philosophy, we have found great success maintaining a very low vacancy rate.
Furthermore, because we are Realtors, we advertise in the local MLS, reaching thousands of realtors, brokers and rental advertising outlets. To demonstrate our commitment to our industry, the Owner of Park Avenue Properties serves on the Board of Directors for the National Association of Residential Property Managers (NARPM) which is headquartered in Chesapeake, Virginia. He is also a Past President of the local North Carolina NARPM Chapter.
Property Management Options
There are two ways in which we can help manage your property:
Option 1: General Services
This includes management of a property by finding and screening a qualified tenant, preparing and executing the lease, performing pre and post move-in inspections, collecting rent, collecting and holding the security deposit, disbursing monies to the property owner, handling all maintenance issues, eviction proceedings – if necessary, and responding to any and all tenant / 3rd party issues.
Option 2: Tenant Procurement Only
This includes finding a qualified tenant, preparing the lease between the tenant and owner, collecting the first month’s rent and collecting the security deposit. The owner of the property then assumes the lease and security deposit responsibilities for the lease term.
There are NO hidden fees and NO money is due upfront. You do not pay a penny until your property is rented. Our goal is to place the right tenant in your property, but if we do not find a match quickly we will decrease monthly management rates until a well-qualified tenant is placed.
If your property is rented within:
- 1-60 days of listing the management rate is 10%
- 60-120 days the rate is 9%
- 121 days or longer the rate is 8%
Discounted monthly rates are offered at the following:
- Clients with 2 or 3 properties start at a rate of 9% per month which can respectively decrease to 8% per month if the vacancy time exceeds 121 days or longer for a specific property.
- Clients with 4 properties or more receive a flat rate of 8% per month
The cost associated with advertising your property is recouped from the Finder’s Fee (also known as a Leasing Fee) which is assessed at the beginning of the lease term and is equal to 50% of one month rent. Additionally, there is a onetime set-up charge of $100 per property.
According the National Association of Realtors, 5 to 6 million families will become renters in the next ten years. With our post recession economy still on the mend, this figure proves the rental market is strong across the country and especially within real estate in Charlotte, NC. At Carolina Realty we believe in helping these families and individuals find their match.
We find qualified renters through advertising, as well as through postings on the MLS or Multiple Listing Service. Once a qualified applicant is found, we will prepare the lease documents for you and your new tenant(s).
What is collected from the renter?
- First month’s rent (prorated if a partial month)
- Full security deposit (one month’s rent).
What is paid to Park Avenue Properties for this service by the landlord?
- A fee equal to one (1) month’s rent will be charged to you for this service. This fee will be deducted from the collected rent and you will be billed for the difference if partial rent is collected.
- There is a one-time $325 marketing fee charge for this service which is paid at contract signing.