Frequently Asked Questions
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Should I sell or rent my home?
This is a popular discussion point in our given economy. If you are undecided on renting versus selling then consider this scenario: Why not market your home for sale and rent at the same time? Park Avenue Properties has the resources and relationships to help you market your home for sale while searching for a well-qualified tenant at the same time. In markets outside the Greater Charlotte area we do not sell real estate; however, we have forged strong relationships with the area’s top producers. We will refer you to a top producer at no charge to you to ensure you have the absolute best resources to assist you in your real estate needs. Once listed for sale when the best first option, Buyer or Renter, comes along then simply terminate the other option.
Can I use your services if I already have an agent listing my home for sale?
Park Avenue Properties respects the Law of Agency and will work side by side with your Realtor. If a Tenant is found before a Buyer is found, then you simply remove it from the sales market. If your Realtor finds a Buyer before a Tenant is found, then you simply send us a copy of your contract and you can terminate without paying the full contract termination penalty. It is requested that you reimburse for half of the property marketing expenses (Note: $125 per month will be your portion) for the months your property was advertised for rent up until you found a Buyer and you notified Park Avenue Properties in writing that it went under contract.
How do you screen and select rental applicants?
Park Avenue Properties is a TransUnion approved partner. Tenant applications are processed electronically through TransUnion and include credit, criminal, sex offender and past eviction background searches. TransUnion’s scoring and tenant recommendation policies built on industry standards are followed to ultimately accept or decline prospective tenants.
When do you disburse payments to property owners?
All rent is due on the 1st and late after the 5th. This said, property owners are paid after rent is collected and cleared. Rents collected by the 15th of the month will usually be disbursed via ePay between the 16th and 23rd. Rents collected after the 15th will usually be disbursed between the last day of the month and the 4th of the following month. Please keep these dates in mind when scheduling your monthly mortgage payments.
How do you disburse owner payments?
Via ePay – a direct deposit to a checking or savings account of your choosing. There is no additional charge to you for this service.
What is your pet and smoking policy for the rental properties you manage?
It’s recommended that a property owner be pet friendly where possible. It is, of course, ultimately up to you. If pets are allowed, our standard fee to charge the tenant is $250.00 for up to two (2) pets. $150.00 is non-refundable (our firm uses this money for a pet cleaning, if required) and the remaining $100.00 is refundable to the tenant if pet damages do not exceed the non-refundable portion. Please note that by not accepting or considering pets you will often restrict your rental audience. “Agressive” dog breeds are restricted. This includes: Pitbulls, Rottweilers, Doberman Pinschers, Mastiffs, German Shepherds (unless service dog certified.)No smoking is allowed at any of our managed properties.
What contracts do you use with the Owner / Landlord and Tenant(s)?
Master agreements that have been reviewed by Park Avenue Properties’ legal counsel are used and are compliant across the States where business is held.