Our first step in renting a property is advertising its availability. We provide yard signs that attract interest from drive-by traffic. We also advertise on our Long Term Rental Site, www.jamvr.com. We receive many referrals and unsolicited inquiries because of our long-standing presence in the community.
Screening of each prospective tenant is of primary importance. After we show the property to an interested party, an application for tenancy is completed. Processing the application includes the using the services of Tennant Verification Services. TVS's primary service is assisting Property Managers in screening prospective Tenants. Normally applicants with poor credit ratings, collection amounts, public records or poor tenancy history are not accepted as tenants.
After establishing an acceptable credit history and verifications, a lease agreement is executed. Leases are normally written for one year and the first months rent is collected along with a security, damage, and cleaning deposit in an amount equal to one month's rent. The deposit, in accordance with North Carolina law, is held in a trust account. In cases where an owner has allowed a pet on the premises, a pet deposit is also collected.
The lease agreement specifies the tenant's responsibilities during the term of the lease and upon vacating the premises. A move in/move out report is completed by the tenant at the onset of each lease. This report becomes part of the lease and is used to compare the condition of the unit at the time of vacation.
Vacating the premises prior to the termination date of the lease results in the forfeiture of the tenant's entire deposit to the owner.
Rents are paid to jamvr, llc. They are due on or before the first day of each month. If not received by the fifth day, the tenant is assessed a 5% late fee. The monies are disbursed to the owner each month after expenses are deducted. Maintenance and repairs are taken care of promptly. In the event of a major repair (over $250), the owner is contacted prior to the contracting of the work.