FAQs

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Owners

What are your fees for management?

For full-service management, we are compensated via 10% of the monthly rent when the property is occupied by a rent-paying tenant. 

For lease-only management (owners that want to manage their owner property but want assistance marketing their property, finding a quality tenant, and lease signing), our compensation equals 1 month's rent. 

NO SET-UP FEES, TENANT PROCUREMENT FEES, OR LEASE RENEWAL FEES!!

Owners with multiple properties, ask about our reduced rates!

When are owner funds disbursed?

Owner disbursements are made on the final business day of each month. On that day, funds will be disbursed into your account electronically through ACH.  

Additionally, monthly statements are emailed on the last business day of each month.

What will my property rent for?

Your rental rate will depend on various aspects, including the property's condition, its location, and the rental rates of comparable properties nearby. The markets that control lease rates are considerably different from the markets that determine property values.

How do I pay management fees?

Management fees are deducted from the monthly rent. 

What if my tenant does not pay?

If rent is not collected by midnight on the 5th of the month, tenants will receive a 10-day Notice to Quit letter informing them that they are in breach of their lease. Tenants will also be instructed to make a payment promptly. 

If rent has not been paid by the 10th of the month, tenants will receive a second reminder that rent is late and due in full. By the 15th of the month, if rent still has not been paid in full, Summary Ejectment will be initiated. 

What does your tenant screening process entail?

Background checks are an essential component of the tenant selection process. We complete comprehensive criminal and credit background checks, ID verifications, and eviction checks on all occupants aged 18 years and older. 

Can I be responsible for maintenance on my property?

Absolutely! If your tenant submits a maintenance request, our team will promptly notify you so that you can coordinate repair work. We will also alert the tenant that you have been notified and to expect to hear from you. 

What deposits/fees are collected from a tenant prior to lease start? 

Security deposit, pro-rated rent, and any additional fees owed must be paid before a tenant is allowed to take occupancy. 

Can you help me sell my property, or buy more?

Yes, we can assist you with the acquisition and sale of investment property. At Turnkey Property Management, we can provide you with the data needed to determine if a property is suitable for maximizing rental revenue.

Applicants

How do I apply for a property?

Simple, just visit our available properties and follow the steps to complete an application. 

To avoid any delay in processing, please be sure to submit your two most recent pay-stubs/proof of income, photo ID, and pay your application fee. 

I have a Co-signer, what is the process?

Your co-signer will apply the same way you did. Be sure to complete the co-signer field within your application. 

How much is your application fee?

Our application fee is $40 per applicant. Anyone over the age of 18 years old that will be living in the property will need to complete an application and pay an application fee.

If I am not selected to rent a property, will I be reimbursed my application fee?

If a property has received several applications and your application is not chosen, your application money will be reimbursed provided background and screening have not been completed. Your application fee will not be refunded under the following scenarios:

  1. If you apply for a property and after background and screening are completed do not qualify.  
  2. If you decide to not move forward with lease execution after being approved. 

Your application fee is only refundable up to 30 days after it was paid.

What are your pet fees?

Our pet fee is $300 per pet and is non-refundable. Some properties might be designated as no-pet properties and will indicate so in the description.

Tenants

How do I pay the security deposit and first-month rent?

Prior to lease start, security deposit, first-month rent, and any other applicable fees must be paid using certified funds. After taking occupancy, the easiest way to pay your security deposit and rent is through the Tenant Portal. Using your bank account details, you may set up one-time and regular payments through the Tenant Portal. You may also use your credit card or debit card, however, there is a fee.

To pay by mail, please mail payment to:

Turnkey Property Management
7209 Creedmoor Rd STE 109
Raleigh, NC 27613

Please make sure that you include your name and property address on the check. Cash payments will NOT be accepted.

When is rent due?

Rent is due by the 1st of the month and considered late if received after midnight on the 5th. If rent is received after the 5th, you will incur a late fee equal to 5% of the monthly rent. 

How do I submit a maintenance request?

For non-emergency maintenance requests, please submit a request through your Tenant Portal. Please give us as much information as possible and if photos are applicable, please upload those as well. 

For emergency maintenance, please call us at 919-819-3841 if after 5 pm, on holidays, and on weekends.

What’s considered an emergency maintenance request?

Emergency maintenance requests include:

  • Water leak of ANY kind—If there is a water leak, please turn off the water at main valve (usually in coat closet or pantry in newer homes) and then call/text 919-819-3841.
  • Sewage backup, 
  • Smoke
  • Odor or gas
  • Fire—Call fire department first and then the emergency number 919-819-3841.
  • Lack of heat if exterior temperature is <32°

What’s NOT considered an emergency maintenance request?

Non-emergency requests include:

  • Broken garbage disposal or other appliance
  • Clogged toilet
  • No hot water 
  • No A/C
  • Refrigerator not cooling
  • Always check your breaker box and GFCI reset switches if you are experiencing electrical problems
  • Anything not listed above as an Emergency.
  • For Non-emergency requests please submit a request through your Tenant Portal 
  • **NON-EMERGENCY CALLS WILL RESULT IN A $100 FINE and will NOT be accepted via telephone.**

When will I receive my security deposit?

We have 30 days following the expiration of your lease to return your security deposit.

Depending on the extent of the damage or receipt of vendor invoices, it may take up to 60 days to reimburse your security deposit. If return of your deposit will exceed 30 days, we will mail an interim accounting to the forwarding address on file within the first 30 days.  Please be sure you have provided a forwarding address to prevent any additional delay.