Answer: Yes. Bottom Line is a fully licensed real estate brokerage who is able to perform sales, leasing and property management services in both North Carolina and South Carolina.
Answer: The owners of Bottom Line have been managing properties since 2006 in the Charlotte area.
Answer: Bottom Line manages properties within about a 1 hour radius of our office near Uptown Charlotte. We manage properties in both NC and SC.
Answer: Bottom Line manages a portfolio valued near $100 Million consisting of 1,000+ rental units.
Answer: Yes. We will help out of state investors purchase, sell, &/or manage rental property. Most of our clients do not live locally so we are used to handling all aspects of the process for them.
Answer: Watch this video where Tammaria explains our three core values and the importance of great customer service.
Answer: We have only 3 fees, very simple and fair: 10% Management Fee (all inclusive monthly fee), 1/2 First Months rent - Tenant Placement (1 time fee when it rents), $199 lease renewal (annual to renew the lease and can increase rent)
Answer: Bottom Line has a 100% owner satisfaction guarantee. If at anytime during the property management agreement a property owner would like to terminate the contract they can do so with a 30 day notice and we will help make it a smooth transition for you. We have no termination fee. You have nothing to lose and everything to gain by giving us a chance!
Answer: Our average time on the market is generally around 2 weeks. However, there are some factors that do drive demand and timing such as location, inventory, price, condition, and seasonality.
Answer: As one of the largest property management companies in the area Bottom Line has a huge neighborhood presence. We can perform top notch video, photo and print advertising on multiple media platforms including: Facebook, Instagram, YouTube, Twitter, Zillow, Trulia, HotPads, Yard signs, Branded vehicles, and Charity Events. Watch this video where Yessi explains what we do to rent your property quickly.
Answer: Bottom Line looks for tenants who have an income of 3x rent, a consistent history of paying their bills and no felonies or prior evictions.
Answer: Bottom Line performs a thorough background check that includes a credit and criminal check as well income verification and when possible an interview with or a verification from the tenants previous landlord.
Answer: Most of our leases are for 12 months. We do try to structure leases so that they do not end in the 4th quarter of the year when possible. Occasionally we can structure a longer or shorter lease term if you prefer.
Answer: Watch this video where Kevin explains how much we get from the tenant in the form of a security deposit before move in, and why a larger deposit is not always better.
Answer: Watch this video where Darrel explains the importance of renewing leases each year.
Answer: Watch this video where Kevin explains how long it takes to turn a property when a resident moves out.
Answer: Bottom Line does not advertise or show occupied rental properties to prospective tenants. We only advertise & show properties to perspective tenants after the previous tenant has moved out & the property has been through our rent ready renovation & safety check. The reasons for this are simple: Attempting to advertise & show occupied rental properties creates many more problems than solutions. We run into scheduling issues with the outgoing tenants & the property is not always presented to the perspective tenants in the best condition which causes perspective tenants who would have otherwise wanted the property to look elsewhere. On top of this, outgoing tenants do not always move out on the exact date they are supposed to. This could pose a serious problem as the incoming tenants have typically given a 30-60 day notice to their previous landlord so they are almost always under a time crunch & may have already made arrangements with moving companies & utility companies. Rental property showings are most effective when the property is presented to the tenants in it's as-is rent ready condition. This practice cuts down & or eliminates most, if not all confusion & or miscommunications that can occur between the tenants & the Bottom Line leasing staff in regards to the exact condition the tenant can expect the property to be in on move in day.
Answer: Once a unit goes vacant Bottom Line will visit the unit and do a rent ready inspection. We will then provide you with a line by line bid for all of the work that needs to be done to meet our minimum rental standards. Until this bid is created there is no way to tell you what your specific turnover costs will be as every situation is different.
Answer: Bottom Line has a zero tolerance policy for nonpayment of rent. We begin the eviction process for all delinquent tenants on or around the 16th of every month.
Answer: Watch this video where Jessica explains our process for collecting delinquent rent when a resident pays late or falls behind.
Answer: Generally speaking the eviction process takes about 6 weeks. The typical steps involved are as follows. We file for eviction at the courthouse. We appear in court on behalf of the property owner. The judge hears both sides of the case and makes a ruling. The writ of possession is filed at the courthouse after the 10 day waiting period. The tenant is usually forcibly removed from the property within 10 days following the writ filing. We will have a handyman/locksmith meet the Sheriff at the property to change the lock and secure the home.
Answer: The most that can be charged to the resident in NC is a 5% late fee. Bottom Line retains any late fees collected. Since we retain these fees we do not charge property owners additional for collection efforts including but not limited to multiple collection phone calls, emails, letters, and potentially placing notices on the tenant's door.
Answer: Yes. Bottom Line obtains owners approval for repairs unless the expense of the repair is less than $250.00 repair threshold or Bottom Line determines it to be an emergency. Bottom Line considers something an emergency repair if immediate repairs are required to preserve the property, continue essential services to the property, avoid danger to life or property, or to comply with federal, state, or local law.
Answer: Watch this video where Kevin explains why an owner should trust Bottom Line to handle the maintenance coordination on their property.
Answer: In order for Bottom Line to do maintenance for an owner, that owner must have enough money in their property management portfolio/account to cover the entire repair estimate & their required property reserve.
Answer: Bottom Line requires every Property Management client to deposit a reserve amount of $500. This is used to cover emergency costs on your properties.
Answer: When applicable Bottom Line sends every owner a rental disbursement via ACH deposit once per month. Accounting statements for the month are finalized on the last business day of that month. Rental disbursement go out to property owner on or around the last business day of the month as well.
Answer: Yes, Bottom Line will work with investors who would like to rent out their property(s) to tenants who are on the Section 8 program. Note that when working with Section 8 there are several differences in the leasing and management process that you may not be aware of. We must perform a laundry list of additional tasks to remain in compliance with the local housing authorities who issue the Section 8 housing vouchers.
Answer: No. This is not a good idea. In almost every situation that an owner has provided this information or access to the tenant, they have come to regret it because the tenant will call the owner instead of the manager. Sometimes the tenant will feel that they can gain the owner's sympathies when the manager is trying to enforce the lease. Interaction with the tenant allows for more legal liability as well. Bottom Line knows the laws well enough to know what is and is not allowable. Bottom Line will treat all tenants with respect and administer its services according to applicable laws.
Answer: No. While Bottom Line tries to provide each and every client with as customized of a service as possible, the reality is that when you are dealing with a company who manages hundreds of properties for investors all over the U.S and abroad there must be automated policies and systems in place. Doing it any other way would be logistically impossible. These policies and systems have proven to be the most effective, efficient and logistically sound way protect the rights and interests of Bottom Line, our investor clients (you), and our residents.