Rental Property Owner's FAQs


Answers to the questions rental owners ask most about property management in Durham, Raleigh and the Triangle.

What does a property management company do?

A property management company handles the day to day work of owning a rental home so you do not have to. At Apple Realty that includes pricing and marketing your property, screening applicants, preparing and signing the lease, collecting rent, coordinating maintenance, enforcing lease terms, and sending you monthly rent funds and financial statements.

In short, you keep the investment and the income. We handle the phone calls, the paperwork and the repairs.

Why should I hire a professional property manager instead of managing the rental myself?

A professional property manager protects your time and your investment. We know current North Carolina rental law, we price homes based on current Triangle market data, and we have a screening process and a vendor network already in place to protect you from costly mistakes.

Working with a professional manager also means working with someone who is held to a standard. Apple Realty is a member of the National Association of Residential Property Managers ( NARPM®), the professional body that sets the code of ethics and the RMP® and MPM® designations for residential managers, and we are an A rated BBB accredited business in Eastern North Carolina.

What areas do you serve?

We manage rental property across the Triangle, including Durham, Raleigh, Chapel Hill, Cary, Apex, Wake Forest, Morrisville, Garner, Knightdale, Rolesville and Youngsville.

Our managers are assigned by area, so your property is handled by someone who knows that submarket. If your property sits just outside the list above, call us at 919-471-2007 and we will tell you honestly whether we are the right fit.

What types of property do you manage?

We manage residential rental property: single family homes, duplexes, triplexes, quadruplexes, and multi family buildings up to 100 units.

Whether you own one rental home or a small portfolio, the service is the same. Owners with several properties are grouped under one manager and one set of statements.

How much does property management cost?

Property management fees in the Triangle are normally priced two ways: a monthly management fee based on a percentage of the rent collected, and a one time leasing fee when a new resident is placed.

Apple Realty's base management fee is 10% of rents collected for standard service levels. We offer volume discounts for owners with multiple properties. We will give you the full fee schedule in writing before you sign anything. There are no surprise charges buried in the agreement.

What is included in the management fee?

Your monthly management fee covers rent collection and posting, resident communication, lease enforcement, maintenance coordination, routine property oversight, monthly owner statements, and year end reporting for your accountant.

Services billed separately are the one time new owner setup fee and the lease renewal fee. If you want us to prepare the property for rent before placing the first tenant, there is a 10% maintenance coordination fee.

Are property management fees tax deductible?

In most cases, yes. Management fees, leasing fees, repairs, and other ordinary costs of operating a rental property are generally treated as deductible business expenses.

We send you a year end statement and a 1099 so your accountant has clean numbers to work from. Apple Realty is not a tax advisor, so please confirm how any expense applies to your situation with your CPA.

How do you decide what my property should rent for?

We price your home against homes that have actually rented near it in the last few months, not against homes that are still sitting on the market. We look at square footage, bedroom and bathroom count, condition, school assignment, and how quickly comparable homes are leased.

Pricing a rental $100 over market can cost you far more in vacancy than it gains you in rent. We will show you the numbers and give you a recommended rental price range before we advertise. Once the property is on the market, we send you a weekly marketing review email recapping activity and recommending any adjustments needed to find a renter quickly.

How long will it take to rent my property?

That depends on price, condition and season. Well priced homes in good condition in Durham and Raleigh usually lease faster than homes that need work or are priced above the market.

We market your home on our own site and across 25 major rental listing sites. We handle showings and give prospects an easy scheduling tool so they can pick a showing time that works for them. You will get regular updates on showing activity and feedback from prospects while the home is on the market.

How do you screen tenants?

Every adult applicant goes through the same tenant screening process. We require a minimum credit score of 625, and we verify income, rental history, and how the applicant paid for and cared for previous homes. We also run a criminal background check and pay particular attention to felony history.

Applicants with scores between 625 and 650 may be denied if they carry delinquent balances. Applicants with pets go through additional screening to make sure the pet meets the property requirements and is well cared for. All screening is applied consistently to comply with fair housing law.

Who holds the security deposit?

North Carolina requires resident security deposits to be held in a trust account with a licensed and federally insured institution, or covered by a bond. We follow the North Carolina Tenant Security Deposit Act on every lease we manage.

At move out, the deposit is accounted for and any balance is returned within 30 days. If damages cannot be fully determined in that window, state law allows an interim accounting within 30 days and a final accounting within 60 days.

When do I get paid each month?

To keep owner distributions consistent, we send rent funds between the 25th and 30th of each month. This gives us time to follow up with any tenants who paid late and to pay any maintenance completed during the month.

Rent is paid to each owner by ACH for convenience. This schedule also avoids the need to hold an additional reserve on each property in most cases.

How do I see my statements, invoices and 1099?

Everything lives in your Owner Portal. You can log in any time to see monthly statements, paid invoices, work order history, lease documents and year end tax forms.

You will also receive your statement by email each month, so you do not have to log in to know where you stand.

How do you handle maintenance and repairs?

Residents submit maintenance requests through their online portal, with photos where possible, and our maintenance coordinator reviews and dispatches the work. We use insured vendors, licensed when applicable, that we have worked with for years, and we get competitive pricing on larger jobs.

Needed repairs under the maintenance limit are vetted and handled promptly by our team. For jobs above the limit, we contact you first to discuss the repair and, if needed, request additional quotes to make sure pricing is fair. The only exception is a true emergency that threatens the property or the safety of the people in it.

Can I use my own contractor or handle repairs myself?

In many cases, yes. If you have a trusted, licensed and insured vendor, tell us and we will try to use them.

Two things to keep in mind. Repairs still have to meet North Carolina habitability requirements and lease timelines, and we cannot coordinate around a vendor who does not respond. If a vendor cannot get the work done in a reasonable time, we will bring in one of ours.

What happens if the resident stops paying rent?

We follow up quickly and in writing. If rent is not brought current by the 5th, the tenant receives a pay or quit demand letter. Under North Carolina law, this notifies the tenant that rent must be paid within 10 days or a summary ejectment complaint can be filed in county court.

For standard non-payment cases, we handle the notices, filing and court process, and keep you updated at each step. Cases with tenant counterclaims, habitability questions, or holdover tenants are referred to an attorney. That is an owner expense, but well worth it to help the case go smoothly and give you the best chance at a favorable outcome at the first hearing.

Strong screening at the front end is the best protection, which is why we do not make exceptions to it. This is general information, not legal advice.

What insurance do I need on a rental property?

You need a landlord or dwelling policy rather than a standard homeowner policy, with liability coverage included. A homeowner policy may not respond to a claim once the home is tenant occupied.

Please add Apple Realty as an additional interested party on the policy so we receive notices, and send us a current copy of the declarations page each renewal.

I already have a tenant in the property. Can you take over?

Yes. We take over occupied properties regularly. We review the existing lease, collect the resident ledger and deposit records, introduce ourselves to the resident, and move the deposit into a compliant trust account.

The existing lease stays in force until it ends. At that point, we can update the lease to match our current rental lease terms.

Do you offer tenant placement only, without full management?

Yes. If you plan to manage the property yourself but want a professionally screened resident in place, we offer tenant placement. We market the home, handle showings, screen applicants, prepare the lease and hand it over to you at move in.

Many owners start with tenant placement and move to full management later, once they see what the day to day workload actually looks like.

Can you help me buy or sell an investment property?

Yes. Apple Realty is a licensed real estate brokerage as well as a property management company, and several of our team members are licensed brokers and investors themselves. If you are not already working with one of our trusted referral partners, we can help you buy or sell your investment property.

With deep expertise in investment properties and the Raleigh and Durham submarkets, we can guide you on how to get the most from your investment, whether you are selling or buying your first rental. If your property is currently rented, we can still sell it with the tenant in place and will walk you through whether that is the best option for your situation.

Are you licensed, and who will I actually work with?

Apple Realty is a licensed North Carolina real estate firm, a NARPM® member, and a BBB accredited business in Eastern North Carolina. Our portfolio property managers are licensed brokers and agents with long track records in the Triangle.

You are assigned a specific manager based on where your property is located, so you have one primary point of contact throughout the rental process. You can meet the team on our website before you ever sign an agreement.

How do I get started?

Call 919-471-2007, email info@applerealty.com, or use the Get Started form on our website. We will ask a few questions about your property, give you a rent range and a written fee schedule, and walk the property if that is helpful.

There is no cost and no obligation for that first conversation and free rental analysis.

Ready to talk about your rental?