FREQUENTLY ASKED QUESTIONS

Q: How do I list my property with Hillco & Associates?

Once you have looked over our information regarding property management, call us at (704) 340-2022 or email todd@hillco-realty.com. We will then set up an appointment at your earliest convenience to view the property and complete an initial inspection. We will not charge a commission until your property is rented.

We provide industry-leading marketing within all price points to procure the optimal tenant for your property. We can walk you through the process and answer any questions you may have.

 

Q: What are the property management fees associated in renting my property?

We typically charge 50% of the first month’s rent to procure a tenant and 10% on the gross rents collected each month thereafter, depending on the property. If you have any questions, feel free to contact us!

Q: How will my property be marketed in order to find the optimal tenant?

Our marketing resources and techniques are very effective in procuring the best tenant for your property. We will place a ‘For Rent’ sign at your property to generate local traffic leads. Some of our online platforms used are our website at www.HillcoandAssociates.com and the Carolinas Multiple Listing Service. The listing will also be syndicated to the most popular home sites online such as Realtor.com, Zillow, Trulia, Homes.com and many more!

Q: If I already have a tenant available to rent my property, can you still handle the details?

Absolutely! If you provide us with the contact information, we can still lead them through a screening process and handle all the paperwork necessary.

Q: How much is required from the tenant for the initial security deposit?

Once the application for a tenant has been approved and the lease is signed, the deposit amount will be equivalent to the first month’s rent. The amount is collected and safely held in our broker’s trust account until the move out is complete and full inspection is done on the property. Once any damages are assessed, the full deposit will be refunded to the tenant, deducting for any needed repairs.

Q: When do I receive my monthly check?

We will collect rents from tenants at the beginning of the month and then our accounting department prepares monthly statements and handles any issues. Then we typically send out owner draws no later than the 15th of the same month the rent is collected. We recommend that you stay on track to submit the upcoming mortgage payment for the property instead of the current month’s payment in order to ensure your rental income is available before your mortgage is due. We can deposit your funds directly into your account or send out a check by mail if you prefer.

Q: If necessary, how do you handle an eviction process?

Monthly rent payments will be considered late after the 5th of each month. A 5% late fee is incurred and a ‘Pay or Quit’ notice will be issued, sent by mail and posted at the property itself, as well as by email to all tenants listed on the account. We will be in contact with the tenant and work out any payment arrangements if necessary.

If the tenant fails to respond and we have not received payment by the end of the month, we will contact our attorneys to handle the eviction process. These steps include court appearances and a sheriff lockout if necessary, and normally takes about 4-6 weeks for the entire process. Any costs incurred are deducted from the tenant’s security deposit.

Q: Am I notified before repairs are made to my property?

We do notify you with any repairs made over $300 in total. However, we do take service calls from tenants and take care of any repair under this amount right away. Any emergency repairs will also be handled without owner authorization. Any cosmetic repairs to be made to the home will always require authorization and total costs be approved by the homeowner.

Q: Who do I contact when I have questions regarding my statement?

You will be assigned an online login and password to view itemized details of your statement online. You will also be able to submit an email or contact to our office and we will respond in a timely manner.