Dear Owner:

Thank you for your interest in our Property Management services.  The first question generally asked is “What do you charge?”  Our monthly Management fee is 10% of the rent money collected.  For 3 or more properties, our fee is 8% for each property with a $75/month minimum. For properties that will rent for more than $1200./month the fees are negotiable. 

We also charge $40 per month for advertising on Rentals.com and Rentalhouses.com  when your property is vacant. This is a mandatory charge.  (Each of these websites charge $49/month to the general public.) You property will be advertised on both sites for $40. 

Optional advertising that may be purchased:

Charlotte Observer - 3 line Sunday ad for $25

Rentalhomesplus.com - $25/month

These are contracted rates that are less than normal charges.

We also ask owners to maintain a $250 owner's reserve in their account.

             The management fee includes the following services:

Advertising on MLS, RentingInCharlotte.com, Craigslist and Homerentals.net 

(Homerentals.net sends your ad to several smaller websites)

We will place a professional sign at the property if allowed along with a directional if allowed.

Showings:

We will meet the interested party at the vacant home and show the property to them. 

Applicant screening:

We run background checks on Rental History, Criminal History and Credit. 

We will not rent to convicted felons.

We won’t deny an applicant based on poor credit, but may ask for a larger security deposit if they are considered a risk. (most applicants have some bad credit)

We will verify employment & wages and contact their current Landlord for a report.

Lease execution:

We use the lease approved by the North Carolina Association of Realtors.

Tenant control:

We will collect the rent and send late letters with demand for payment on the 6^th of each month to tenants that have failed to pay their rent.  If the rent is not paid within 10 days from the date of the demand for rent, we will file the Summary Ejectment and appear in court.  If necessary, we will file a Writ of Possession with the County Sheriff. 

We will respond to any requests the tenant has and use our best efforts to place and

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Tenants will call our office and we will respond quickly.  We will coordinate necessary repairs, utilizing qualified vendors.  If the repair estimate exceeds $250, the owner will be contacted for approval.  If the tenant is responsible, they will be charged.

When a property becomes vacant, we will inspect the property and determine the repairs necessary to get the property in “rent ready” condition.  We will advise the owner on disbursement of the previous tenant’s security deposit.

Major repair coordination – 10% of repair expense.  This repair cost would be in the event of a catastrophy (flood, fire etc)

Walk thru inspections for new construction   $80

I started this business May 1st, 2006.  Before Shearer Realty, I managed 285 properties

located over 3 counties for another firm with the help of 1 Agent and a part time assistant.  I worked 50-60/hrs per week Mon-Fri and then handled maintenance calls and inquiries from possible renters on the weekends.  My ability to cater to the Owner’s and Tenant’s needs proficiently was slipping away.  That firm’s goal was to increase the amount of properties being managed.

My goal is to provide excellent customer service to both Owners and Tenants and that is why I left the large firm to start my own company.  I put my name on this firm and am determined to keep customer service my number one priority! 

If you decide to hire Shearer Realty, I will need the following to proceed:

Property Management Agreement contract

Signed W-9

Owner information form

$250 check made to Shearer Realty

Keys for the property

I look forward to helping you with your investment property.

Sincerely,

Dave Shearer  

Owner/Broker in Charge

P.O. Box 43079 – Charlotte, NC  28215 – Office: 704-567-8200  Fax: 704-536-0975

             Physical address: 6600 East W.T. Harris Blvd. Suite D, Charlotte, NC  28215