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Holliday Vacations Property Management saves you time and money while you enjoy the income and tax benefits of owning rental investment property. Benefits in hiring Holliday Vacations Property Management include:
Advertising is often placed in The Wilmington Star News, the internet, and local publications. In addition, tenants are attracted through the Multiple Listing Services, local major employers and flyers to local Realtors. Approximately half of our properties are rented through our network of agent referrals.
One of the most valuable services performed is checking tenants' backgrounds. Credit, employment, and financial status are reported through OnLine Rental Exchange. The staff calls current and past landlords and employers for verification information to be discussed with the property owner.
Inspecting the Property
To protect the owner's investment, Holliday Vacations Property Management arranges inspections of the property before and after the tenant moves in. In addition, inspections are made during tenancy as needed. Plus, each tenant completes a move-in report to insure a proper record of the property's condition.
Holliday Vacations Property Management will arrange all maintenance and repairs needed. Licensed contractors are called to make repairs on major air conditioning, heating, electrical, and plumbing repairs. Except in an emergency, property owners are notified of any repair that exceeds $150.
Rent rates are negotiated to the highest possible level depending on market conditions, length of leases, type of property, and the time of year. Setting proper rental rates and maintaining a strong marketing effort allows us to maintain a high occupancy rate!
Leases and other documents used adhere to the North Carolina Landlord-Tenant Act and clearly explain landlord rights and tenant responsibilities. Although complete background checks are made, occasionally tenant problems arise. We will handle these in a timely fashion.
Rents are sent to the property owner monthly unless an expense prevents mailing all funds. Tenants who have not paid their rent by the 5th of the month are sent a late notice. Although evictions are rare, Holliday Vacations Property Management will normally arrange the removal of a tenant from the property should the rent not be paid in a timely manner.
Property owner checks and computer-generated statements are mailed prior to the end of every month. An annual end-of-year accounting is provided to each property owner for tax reporting. Property owners should check with their accountant to verify the tax advantages when owning rental property.
Enjoying Reasonable Fees
Holliday Vacations Property Management offers full management services for 10% of monies collected from tenants' payable monthly. Most management companies fall in this same fee range depending on the type of property managed, market conditions and area. However, the difference in property management firms is often the quality of services. Holliday Vacations Property Management's company goal is to provide outstanding service so that any fees paid by the property owner are normally saved by avoiding longer vacancy times, excess repair costs, and tenants who have not been checked out completely.
Contrary to some management companies, no start up fee, Realtor referral fee, leasing commission, re-leasing commission, flat fee when the property is vacant, or a fee to arrange maintenance normally exists. In order to avoid any of these "extra" fees, the property owner is asked to keep the property under management on an annual basis.
A Rental Analysis helps determine what the property will rent for on a long-term basis. The analysis normally consists of visiting the property features, evaluating the property and its neighborhood. Recommendations are provided regarding repairs, appearance, marketing ideas and a rent range. A free Rental Analysis can be arranged by calling our office at (910) 256-2911 or toll free at 888-256-2911. Property owners are under no obligation to begin management services after a Rental Analysis is provided.
Rental Analysis is not always necessary to begin management, however, it can often answer many questions. Normally, everything that is needed to begin managing an owner's property can be accomplished in an hour at the property site. After a rental analysis and/or discussion is completed, management can begin immediately once a management or listing agreement is signed. If the owner lives out of town or cannot meet at the property, we will arrange to take care of all paperwork through the mail or by fax.
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