FAQ's

Our most commonly asked questions by prospective Owner clients:

What areas does Champion Realty service?
Greater Triangle Area: to include, but not limited to: Apex, Cary, Carrboro, Chapel Hill, Clayton, Durham, Fuquay-Varina, Garner, Goldsboro, Hillsborough, Holly Springs, Knightdale, Louisburg, Morrisville, Raleigh, Rolesville, Wake Forest, Wendell, Willow Spring, Youngsville and Zebulon.

What types of rental properties do you manage?
We are a residential property management company. Our properties include: single-family homes, condos, townhomes, duplexes, fourplexes and other multi-family units.

What needs to be done to my house before it is ready to rent?
You should keep in mind that the better condition that your house is in, the better quality tenant that it will attract. Your home must be left in professionally cleaned condition. Your Property Manager prefers to arrange this cleaning to insure that the cleaning guidelines are strictly followed. The carpets must be freshly cleaned and all debris and personal belonging removed from the house.

It is not necessary to paint automatically, but you should consider painting any room that has dirty or marred walls. A neutral color is best. Your Property Manager will be happy to discuss any necessary repairs or painting with you. Neutral window coverings such as blinds should be left, but not curtains that match a particular bedspread or couch. Tenants moving into a rental property do expect some sort of window coverings to be provided for privacy and safety.

The tenants are generally requested to maintain the yard in the condition it is provided to them. Therefore, the yard should be freshly mowed, weeded, trimmed and the leaves and debris removed.

How much security deposit do you collect from the Tenants?
Typically we require a security deposit equal to one month’s rent. 

How strictly do you enforce the lease agreement?
We enforce the lease agreement very strictly, to include:  late fees, pet policy, unauthorized occupants, vehicle limits, HOA rules, lease terms, and all additional terms and conditions of the agreement.  If we become aware of a lease violation, the tenant promptly receive sa violation notice and is required to cure the violation to avoid further action.

How do you handle non-paying tenants?
Rent is due on the 1st of the month and late on the 2nd.  Late fees begin on the 6th.  If rent has not been received by the 6th of the month, we will send to the Tenant a notice to pay or move out within 10 days.  Should they not do either, we will then file at the courthouse for eviction (a summary ejectment).   Please note:  Due to our rigorous screening and consistent collection efforts, eviction for tenants that we have placed are rare at Champion Realty.

What are your fees that are in addition to the leasing and management fees?
Late Fees Collected from Tenants:  retained by Champion Realty
Markup on Invoices/Repairs:  none, as long as the total costs do not exceed $2,500 within 30 days
Lease Renewal Fee:  Flat fee of only $65

Do I need to pay any fees upfront?
No, you do not.  We will take our fees out of the first month’s rent we collect from your tenant.

What is an Owner’s Reserve, and how much do you maintain?
An Owner’s Reserve is your money that we hold on to pay any potential invoices.  When we do pay invoices that equate to less than the reserve amount, we will replenish that account when we collect rent from the tenant during the following month.  For single family homes, our owner’s reserve amount is $250.  For multi-unit building, we reduce that to $150 per unit.  At the termination of our managing your property, providing there are any funds available in the owner’s reserve, they are returned to you.

When will I be able to view the financials that pertain to my properties?
We provide 100% visibility into your property’s performance via 24/7 web access to your accounts. You will never be surprised at month-end when you get your management statement and payment.

Is Champion Realty a large agency?  I have used other large agencies in the past, and it seemed as if I was just another client/number to them.
We are not too big to provide personal service to our client OR our tenants.  Your property manager will know your properties and tenants and be able to speak about them with personal knowledge.

Do you have in-house maintenance personnel?
No, we use outside subcontractors to perform services.  Think of it this way:  If we had in-house maintenance crews, then we need to keep them busy full time.  Hence, we are sending them out to your property to ‘look for things to do.’  You don’t want that…and neither do we.  The majority of our vendors offer ‘discount pricing’ to us since we are repeat clients.  Since we do not mark up those invoices, you are saving even more money by hiring us.

How much can I lease my property for?
We offer a free, no obligation market analysis.  This market analysis provides average market rents in your area.  We will need property details which include:  property address, number of bedrooms, square footage of home and year built.

Does Champion Realty inspect my property to ensure the tenants are taking care of it?
Yes!  We do regular drive-by and interior inspections.

How long will it take to lease my property?
There are primarily two factors that will influence that answer.  One is the price of the unit (an overpriced home will sit there longer) and two is the condition of the unit (if the home is in need of repairs or upgrades, it will sit there longer).

Are you licensed?
Yes, our company and agents are licensed by the North Carolina Real Estate Commission and our broker is also a member of the National Association of Residential Property Managers (NARPM).

What are the benefits of hiring Champion Realty instead of another property management company?

·         No ‘setup’ fees

·         Competitive leasing and management fees

·         No additional marketing fees

·         We do not charge you when your property is vacant

·         We do not charge a markup on invoices (unless the total exceed $2,500)

·         Easy Out Program:  Don’t need our services anymore?  Just give us a 30 days written notice

·         Peace of Mind

What do I need to do to get started?
That’s easy!  Sign our Leasing & Property Management Agreement and provide us with keys to the property.  We can start today!

We truly look forward to working with you and caring for your property.  We are available to answer any additional questions you may have.