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Owner FAQs

What are your fees?

What type of rental properties does HRW Realty manage?

How much will my property rent for?

How do you advertise vacancies?

How do you show the properties to prospective residents?

How do you screen prospective residents?

What are your pet/smoking policies?

How do you handle maintenance requests?

How and when do you disperse owner’s payments?

What will I receive with my monthly statement?

Who holds the resident’s security deposit?

What happens if the resident does not pay their rent?

 

Q: What are your fees?

A: The lease fee is equal to 50% of one month’s rent and deducted from the 1st month’s rent income. This covers the marketing of your property including professional photos for the internet marketing; showings with prospective renters; lease preparation and signing and a move-in inspection documenting the condition of the property.

The monthly management fee is 8% of the monthly rent and a minimum of $50/month. This covers our ongoing service of collecting the monthly rent; coordinating any required maintenance or repairs; preparing your monthly statement and either direct deposit of your funds and statement emailing or mailing you a check with your statement. If the property is vacant and we are marketing for new residents, the fee is waived during that month. We offer discounts on the monthly management fee for owners of multiple properties. 

A lease renewal fee of $100 is charged for any lease renewal of 6 months or more for negotiating the lease extension; preparing and executing the new lease.

You will not be charged additional fees for trips to your property when meeting service vendors or periodic inspections are required; any mark-up on invoices for the routine repairs or turnkey expenses; and direct deposit of your funds. 

 

Q: What type of rental properties does HRW Realty manage?

A: We manage a variety of single family detached houses, individual condos, townhouses, and duplexes in the Triangle area, within a thirty minute drive from our office conveniently located in West Raleigh.

 

Q: How much will my property rent for?

A: We will provide you with a detailed analysis of the rental market, factoring in the condition, location, and amenities of your property along with the current rental market.

 

Q: How do you advertise available rentals?

A: We begin by taking high quality photographs of the interior and exterior of the property. Multiple photos and property details are listed on a variety of internet websites including the Multiple Listing Service, Zillow and Trulia and our website.  Where permitted, a For Rent sign is placed in front of each property for immediate impact. As members of the MLS, other Realtors working exclusively with relocation departments and large companies in our area have access to our rental listings too.

 

Q: How do you show the properties to prospective residents?

A: We require all showings to be Agent assisted. For security reasons, no property access is allowed unless the prospective resident is accompanied by a licensed Agent or one of our company representatives. We use security code lockboxes on each property so that other Realtors®  are able to easily show the property.

 

Q: How do you screen prospective residents?

A: Our in-depth and thorough screening process includes a credit, criminal and prior eviction background check. Current and previous landlords are contacted for rental references, and we verify current employment.

 

Q: What are your pet and smoking policies?

A: Permitting 1 or 2 pets increases the opportunity to rent your property more quickly, although it can also increase the risk of property damage by less responsible pet owners. It is a property owner decision to allow pets, including weight limits on dogs. We understand some owners prefer to avoid the additional property damage risk. New residents with pets are charged a non-refundable $250.00 pet fee on your behalf. Any dog breeds considered aggressive by the insurance industry are restricted. No smoking is allowed inside any of our managed properties.

 

Q: How do you handle maintenance requests?


A: Residents may phone or email their requests to us, or request maintenance online at our website. After we receive a repair request, we may contact the resident and ask them questions, which will help us determine the exact nature of the problem before sending a service technician. If the resident has a legitimate problem, we will schedule the repair. Most repairs are scheduled within one business day. Comfort items such as heat and air conditioning, no hot water, or major water leaks, receive the highest priority and are usually attended to the same or next business day. If we think an individual repair might exceed $300 we will contact you about the expense.

 

Q: How and when do you disperse owner’s payments?

A: The rent is due on the first of each month and late after the 5th. We disperse payment to the owners on the 11th of each month either by check or by direct deposit. If the 11th falls on a weekend or holiday, payments are dispersed on the following business day.

 

Q: What will I receive with my monthly statement?

A: The monthly statement shows all income and expenses for the accounting period and the original receipts for any repairs. We do not charge an additional fee or percentage of invoice for coordinating routine maintenance or repairs.

 

Q: Who holds the resident’s security deposit?

A: All security deposits are held in our security deposit trust account. 

 

Q: What happens if the resident does not pay their rent?

A: If rent is not received by the 5th of the month, the tenant is contacted on the 6th and follow-up late rent letter is sent the same day. The final step is to begin the eviction process through the proper legal channels if it is not received by the 11th of the month. Due to our applicant screening process and late rent follow up, eviction filings are rare.

 

HRW Realty Corp
5540 McNeely Drive
Suite 204
Raleigh, NC 27612
919 783-1855
Email: team@hrwrealty.com

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