Frequently Asked Questions

For Owners and Investors

We are here to help answer any and all of your questions.

Here are some answers to questions you might have. Please reach out with any additional questions or information you need about Scarlett Properties.

My property is vacant and ready to be leased, what do you need from me to get it listed?

To list the unit, Scarlett Properties will need:

  • Working with Real Estate Agents form
  • A completed and signed management agreement and addenda
  • On-boarding fee
  • HOA contact information and copy of restrictions and bylaws
  • Warranty contact information and expiration date if property has a warranty
  • All entry, mail, garage and storage keys including FOBS or amenity passes with copies, and remotes.

What sources of advertising and marketing does Scarlett Properties Provide? Lead Management Hotpads
Carolinas MLS Referrals In Office Services Leading Real Estate Websites

Why do you need my social security number or tax ID number?

A social security number or tax ID number is required for tax statements. 1099 tax statements are mailed according to IRS deadlines and regulations.

Who is responsible for the yard maintenance?

The yard should be maintained by the owner while the unit is vacant, then by the tenant once it is occupied. For an additional fee, Scarlett Properties can provide lawn maintenance.

How does Scarlett Properties screen prospective residents?

For every occupant 18 years of age and older that will be living at the property, regardless of financial responsibility, we require a credit report and a criminal background report. For properties with rental rates under $1,000/month, we require credit scores of at least 550 and for properties with rental rates of more than $1,000/month, we require credit scores of at least 600. Gross household income must be verified to be at least 3.5x the monthly rent. We verify previous rental history and current employment. No eviction history is accepted in the past 5 years.

What is your average vacancy period?

Our average period is 3-4 weeks. To remain within the 30 day period, the property will need to be in good, move-in ready condition, priced competitively and coincide with our current management portfolio.

Why do I have to pay an on-boarding fee?

This fee is used for setting up your home in our system including processing paperwork, professional photography, square footage measurements, advertisements, property listings, showings, etc.

When does an owner get his/her check once the property has leased?

Scarlett Properties disperses funds once funds are cleared in the account. Owners are provided a statement and the checks for the net proceeds of their investments usually by the 25th of each month. Direct deposit of any owner’s monthly check is available at no extra charge. In addition, we include an itemized accounting statement, information about each resident and original copies of every invoice we paid that month (if any) at your request.

What is the monthly management fee?

Scarlett Properties charges a small percentage for a monthly management fee to manage your rental property. This fee covers monthly administrative tasks such as receiving and handling rent payments, incoming phone calls, scheduling any maintenance requests, fielding tenant inquires, insuring compliance of tenants to lease agreement and HOA guidelines and obtaining late payments if needed.

What are the collection procedures?

All rent is due on the first of every month. If it is not paid before close of business on the fifth day of the month, a late fee is charged. Evictions are filed on the 11th day of the month and eviction notices are sent out. Owner remains ultimately responsible for all fees for any attorney or magistrate court costs, which will be attempted to be recouped from the tenant at fault.

How is maintenance handled?

Scarlett Properties has a 24 hour maintenance phone line. Our full time maintenance supervisor is well experienced in repairs and scheduling any needed work. When a tenant sends in a maintenance request to Scarlett Properties, a copy of the request will be submitted via email to the owner to ensure they are aware we are scheduling the maintenance repair. No action is required by the owner unless they choose to partake in the repairs. All invoices will be shown on the monthly owner statement.

Do you work with warranty companies?

Scarlett Properties will no longer be working directly with Home Warranty providers. If you choose to have a warranty, any maintenance requests that need to be coordinated through that warranty will be sent to you for submission. Tenant contact information will be provided for you to schedule with the vendor directly. Any maintenance requests that would not be subject to the home warranty would still be handled by Scarlett. We have found that the service provided by home warranty vendors does not usually meet our standard of service and reflects poorly on both management and owners. If your home is currently under a warranty contract, please contact a Scarlett Properties representative to discuss further.

Who holds the security deposit?

North Carolina General Statutes require that the security deposit be segregated from other funds and held in separate bank accounts. This is a fiduciary duty. The deposit cannot be disbursed to anyone until the residents vacate. Then it can only be disbursed to either the owner or the previous resident. Please refer to our Management Agreement for more complete details. The deposit may not be used for last month's rent payments.

Can Scarlett Properties sell my home?

Yes, all of Scarlett Properties’ Property Managers are licensed Realtors. Additionally, the company has full time sales agents.

What should I do to get my house ready for the next tenant?

Scarlett Properties requires all properties to be move in ready before we will allow a tenant to move in. In order to have time to schedule any needed work on the home, when leasing the property, we will schedule the new tenant move in no sooner than five days from the date the home is vacated. From the time you or the current tenant moves out, the house will need to be painted (or a satisfactory touch up paint), professionally cleaned, floors cleaned and any needed maintenance work completed, including changing all exterior door locks. All major systems must be in working order (appliances, electrical, plumbing, gas, HVAC). Additionally, landscaping must be up kept up while the property is vacant. Of course you have the option to have the work completed yourself or we can schedule it through our own contractors. Five days prior to the tenants moving in, we will perform our final walk through. If we do not feel the home is move in ready, the necessary work or repairs will be completed by our own staff or the move in will be delayed. We are dedicated to providing the best customer support and quality homes to our clients and we want your tenants moving in happy.

How can we help?

Contact Scarlett Properties for all your real estate and investment property needs.

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Charlotte Broker-in-Charge – Samantha Metts, 274088 | Hickory Broker-in-Charge – Rudy Ratajc, 303666