Frequently Asked Questions

You are entirely in charge of this choice. You can choose whether to allow Section 8 occupants on your property. The Section 8 Program has both pros and cons. Although the Housing Agency guarantees the payments, the rental amounts are typically lower than fair market value. Before your home may be listed as a Section 8 property eligible to take voucher payments, you as the Owner must first apply with your local Housing Authority, complete all the enrollment requirements, and pass an inspection. We will help you complete the paperwork and meet the requirements for Section 8 tenants.

Yes, Elite Properties Management LLC is licensed with the North Carolina Real Estate Commission.

No. We don’t think we should get compensated unless you do. Therefore, a portion of the actual rent we collect goes toward our management fee. You don’t pay us anything if we don’t get any rent or if the property is empty.

Rent payments will be made to your bank account via ACH, and you will be notified via email when this process begins. If tenants pay between the 1st-5th of the month, we usually pay owner between the 10th – 15th of the month. For those owners that wish to have their rental proceeds check mailed, those checks would be mailed out between the 10th-15th of the month. The owners’ statements are accessible through your personal, secure online account online (via our website). All revenue and expense costs associated with your rental properties are listed in your monthly statement.

The tenant is given a 5-day grace period in our lease form to pay the rent on time. We instruct the computer to issue late fines for any tenants who have not paid as of the sixth day. “Day Notice to Pay or Quit” letters are prepared and issued to the residents. If the tenant has not made a payment by the 11th day of the month (or the next business day).Depending on the specifics of each renter, we begin filing the eviction if we still haven’t gotten the rent payment by the 12th of the month.

Yes, we do work with buyers and sellers to either help with selling or buying a home. Many of our owners of investment property will eventually want to sell, and since we are so familiar with the property, we are the best people to list it and get the best price.

We at Elite Properties Management, LLC is a one-stop-shop and capable of taking care of all of your real estate requirements.

Despite the fact that every property is unique, we make a conscious effort to quickly fill properties. While we are committed to finding our properties reputable qualified renters, we also understand that speedy fill of the property are crucial to our owners. When we do receive a completed application for your rental property, we can usually process it within 24 to 48 hours. Once the application has been reviewed, we will make the decision to approve it or get in touch with you to ask for your approval.

Properties with upgrades, good curb appeal and competitive pricing should produce a tenant in 30 days or less. To guarantee that we reduce any vacancy time, we will provide you with price recommendations.

We keep the security deposit in a trust account with a national bank that is FDIC guaranteed. State law mandates that the landlord or property management maintain your security deposit in a “trust account” to assure its safety during the term of your rental. A trust account is just an escrow or “trust” designated bank account that does not include any of the broker’s personal funds. The trust account needs to be kept in a bank or savings and loan organization with a North Carolina license that is authorized, regulated, and insured. The Landlord or Agent shall send you written notice of the location of the Security Deposit within 30 days after the commencement of the Term of your Lease (typically, this notification is given in the lease).

You can specify what lease conditions, as the Owner, you’re ready to accept. Common lease terms include one year, two years, month-to-month (depending on the situation), 9 months and six months.

Security deposits are set based on rent amount and credit report. Per the instruction of the Owner and based on risk assessment, security deposits can range from one full month of rent, 1.5 months of rent amount, or 2 full months of rent amount to be held as a security deposit.

As soon as the Exclusive Property Management Agreement has been reviewed, approved, and signed, we can begin managing your property. The release of property, tenant, and financial information, however, cannot be passed over unless a 30-day notice is given to the property management company currently in charge of managing your property. Sending your present manager a short email will allow us to help you switch management companies. They recognize us since we are a reputable business that has bought numerous properties from other management firms. To ensure a smooth transition, we will send them the notice and relieve you of the strain.

We manage residential, multi-family, townhouse, small apartment complexes, condo and commercial office space.

Yes. We like for the amount to be $300 but this amount could be lower or higher. As a reserve for your property, THIS MONEY WILL BE DEPOSITED INTO OUR BANK TRUST ACCOUNT. Between the time we send you your rental income and the time we collect the rent from the tenant the following month, we may use these money to cover maintenance expenditures that may occur. What ever amount is left when we quit managing your property, will be return back to you.

No and yes. We have tested a lot of contractors in the past. Although price is always important, sometimes you do get what you pay for. So the contractors we currently utilize have shown to offer reasonable prices and high-caliber services.

The majority of our contractors are modestly sized businesses with years of experience with low overhead. This, in our opinion, will allow us to control expenses while ensuring high-quality work. Additionally, we do a lot of business for them, so we frequently receive better pricing than everyone else. However, if you choose to use your own contractors, we like for the work order to be coordinated with our office.

Even late-night crises will be handled by us, and we only work with top-notch, pre-screened vendors.

No. You can live any where in the US and we can manage your properties that you have in NC.

Just complete one of our information forms online requesting more information about our services or send us an email to [email protected]