OWNER FAQs

We charge an initial fee of $650 to take in a new property. This is a one-time fee and we do not charge re-listing fees when the property turns over. Once we have a rent paying tenant in place, we charge 10% of the collected rent. This monthly percentage is contingent on rent collection so if the property is vacant or the tenant hasn’t paid, we are not collecting a management fee until you receive your rent. Reduced rates can be negotiated for property owners with multiple unit portfolios.

Detailed background screenings are a very important part of the tenant selection process.  At Acorn + Oak, we conduct in-depth criminal and credit background checks, ID verifications, and eviction scans on all applicants 18 years old or older that will be occupying the property.  In addition to these checks, we also verify income and employment and contact the applicant’s current landlord for a rental reference if applicable.

At minimum, one month’s rent is collected as a security deposit and additional deposits are collected for pets.  All security deposits are held in a trust account per North Carolina law.

When things break, having a property management company ready to respond is ideal.  While you are always notified of any maintenance requests at your property you are not required to call repair people or set up appointments for these repairs—we’ll do this for you!  To keep costs low, we do not have an “in-house” maintenance staff and contract all repairs to local licensed and insured vendors (plumbing, electrical, HVAC, etc.).  We have 2-3 of each of these vendors that we use on a regular basis as well as numerous “general handymen” that we contact for miscellaneous repairs.  For most repairs, our vendors are able to give you estimates regarding maintenance if requested.  We also are happy to use preferred vendors that you have used in the past if you would like.

Timely rent payments make us happy and we go above and beyond to make sure our tenants know when rent is due.  We send a friendly rent reminder on the last day of every month to remind tenants rent will be due by the 1st and late if received after the 5th.  On the morning of the 6th, if rent has not been received, we contact the tenant to alert them that rent is now late.  We try to work with tenants as much as possible and understand that sometimes mistakes happen or emergencies come up.  However, if we have not received communication from the tenant about paying due rent, we can file for eviction on the 10th of the month.  Bragging rights:  our eviction rate is less than 1%.

We’ve heard that a good property manager is worth their weight in gold.  By hiring a property manager, you are actually hiring an adviser, a photographer, a tour guide, a negotiator, a coordinator, a 24 hour emergency phone line operator, a mediator, a bookkeeper, a problem solver, a multi-tasker and an agent all in one.  Need we say more?

Your property manager is your buffer.  He or she is the contact point for the tenant so you can rest assured that the property is being cared for and that you will not have to deal with a maintenance issue at the drop of a hat.  You will not need to stop your daily routine to address an HVAC issue, a running toilet, or a tenant who refuses to pay rent.  In a nutshell, your property manager will take the headache out of owning an investment.

As for Acorn + Oak, we take pride in wearing all these hats.  Our mission is to secure tenants that will maintain the value and condition of your property. We incentivize our tenants to pay rent on time with monthly giveaways and treat them as more than just “end-users”.  Our Acorn + Oak team has over a decade of property management experience and has managed hundreds of units in the Triangle area. We continually strive to improve our processes and our business so we can provide the highest level of service to our owner clients and our tenants.

Property management offers property owners peace of mind by overseeing and managing their real estate properties on their behalf. This includes communicating with tenants, coordinating maintenance, and collecting rent.

Property management is important because it ensures that properties are in tip top shape, tenants’ needs are satisfied in a timely manner, and rental income is maximized. Having a property manager is like having a real estate guru that handles all the details and even helps navigate legal and financial issues if they come up. 

Property management companies provide a plethora of services starting with marketing the property and screening the applicants. They also take care of lease negotiations, property inspections, scheduling maintenance, and rent collection.

Property management companies typically charge a setup fee and either a percentage of the monthly rent collected or a monthly flat fee for their services.  Fees can vary depending on the size and complexity of the property.

Some of the best ways to find a reputable property management company are researching the highest rated companies online, reading the reviews thoroughly, and asking other property owners for referrals.  We're happy to tout that Acorn + Oak is both highly rated and recommended!

First, look for a property manager that has experience managing properties that are like yours. Second, you want to make sure they have good communication and organizational skills, and that they are responsive. Lastly, you want to ensure they have knowledge of local laws and regulations. 

Absolutely! You can manage your own rental property. Before you do, make sure you understand the time and effort requirement it commands. You will need to handle marketing the property, finding good tenants and fostering good communication with them, maintenance, rent collection, and dealing with any legal issues yourself.

A property management agreement is a very detailed contract between the property owner and the property management company. It outlines the terms and conditions of their business relationship. It’s purpose is to make sure both parties fully understand what to expect from each other. You will need a to sign a management contract to do business with a property management comany.

A property manager agreement should include all the services that the property manager is responsible for and the fees of the services. It should also include termination provisions, and all other important terms and conditions.

Property managers are knowledgeable on what rental rates are competitive for the type and location of your property, they are experts on marketing your property to make an impact, and they work hard to minimize vacancies.

Screening potential tenants entails conducting background checks, verifying employment and income, and checking references from previous landlords. We provide all these services, eliminating the burden on you.

Maintenance can make or break your relationship with your tenant and timely attention to their requests goes a long way. You can handle maintenance requests from tenants by responding promptly, prioritizing urgent requests, and hiring qualified contractors to perform the work. 

Make sure to review your lease agreement for language about how a lease violation will be handled.  A timely written notice about the violation is most times your first step but be sure to discuss with an attorney to make sure you are handling the situation legally.

You should inspect your rental property at least once a year to check for any necessary repairs or maintenance. You should also inspect the property before and after each tenant moves in and out and document the state of the property using photos or a video.

Yes, a property management company can help you with legal issues related to your rental property to a certain extent however, for complex or unique legal issues, it's always best practice to consult with an attorney.  Many property management companies assist their clients with issuing lease violations, being present for eviction hearings, and with compliance with local laws and regulations.

You can attract and retain quality tenants by making sure your rental rates are competitive, your marketing material stands out, the property is well maintained, and that you treat tenants with respect and courtesy.

A property manager is a professional, like Acorn + Oak, hired by a property owner to manage the property, while a landlord is the owner of the property who leases it to tenants on their own.