Owner FAQs

• How long are your management agreements?

  Our management agreements typically start for an initial term of 6 months and automatically renew month-to-month at the end of the initial term. Either side has the right to terminate at any time, with a 30-day notice.

• What is the process if I want you to manage my property?

  Let's start with a conversation! Renting your property is a great way to build equity and wealth. And we want to make sure we will be able to meet and exceed your goals and expectations.

  We ask all our new owners to fill out the "Onboarding Form" on our website which can be found under the "Owners" tab. This will provide us with the necessary information to onboard you.

  If the property is vacant, we will schedule a time to walk the property to get a better idea of the condition and what needs to be done prior to listing it for rent.

• What is your management fee?

  Our base level monthly management fee is 10% of the collected rent per month. To advertise, screen, and place tenants we charge between 50-100% of the first month’s rent as a placement / leasing fee. The exact pricing will depend on your property's unique situation, whether it is furnished, unfurnished, location, short-term, long-term, etc. After we view the property and see what will be involved to get it rented, we will be able to have a firm answer on this.

  More details on our fee structure can be found here and is contained in the management agreement.

• Where will my property be advertised?

  We will post your property on our website and syndicate it to high traffic sites such as Reatlor.com, Zillow, Trulia, Hotpads, Dwellsy, RentalSource, and more. We will also market them to other agents in the community and through our various relocation and professional networks.

• How and when will I get paid?

  In a typical month, rent is due by the 1st of the month, and tenants have until the 5th to pay before incurring a late fee. 

  Owner distributions are made after funds clear on our end and have had time to settle in our trust account. Therefore we do distributions on the 15th of each month. During onboarding, we will send an ACH authorization request from you to set up ACH transfer. We can also mail disbursements via check if that is your preference.

  If you receive your disbursement late, typically this means that the tenant paid late and the money has not yet cleared our bank account. For example, if your tenant paid on the 13th, then the funds will not have cleared into our account before the 15th. If this occurs, you will be paid on the next distribution date.

• How do you screen tenants?

  As part of the application process, we obtain a background check, paid for by the applicant's application fee. This also includes criminal history, eviction history, and a credit report.

  We also require past landlord and employer references to ensure we are only renting to the most qualified tenants.

  We thoroughly verify all information provided by the applicant and request additional documentation when needed to ensure we are renting to transparent, honest and quality tenants.

• Can I login to an owner portal to view payments?

  Yes, you will have access to your own owner portal. From here you can view maintenance requests, expenses, and download accounting statements for your property.

• Will I get the final say on the tenant that you approve?

  In order to ensure fair housing compliance, we will make the final decision on who is approved to rent your property. We have seen owners get into hot water by restricting tenancy to tenants without kids, tenants without a service animal, etc. These are all fair housing violations and would subject you, and us, to hefty fines and potential lawsuits.

  We place a huge emphasis on fair housing compliance, while striving to protect your investment with solid and ethical tenant screening criteria.

  The only situation where we will consult you with tenant placement is if we have a conditional approval, which is where the prospect overall has a decent application but falls short of one or more of the screening criteria. In this situation, we will often ask the tenant for an extra deposit, guarantor, or last month's rent prior to move-in. In conditional approval situations, you have the option to override the decision.

• How long does it take to fill a vacancy?

  This depends on several factors such as the condition, time of year and how well the property is priced. We recommend pricing a property at, or slightly below, the market rate in order to minimize vacancy.

  With our robust networks and marketing, we are usually able to find a qualified tenant within a few weeks. Sometimes we have a great tenant in mind before your property hits the rental market.

• What is an owner deposit? Is it required?

  We require our owners to maintain an owner deposit of $500 per property in our escrow account. This is your money, but it gives us cash on hand if we need to make repairs, or if a bill comes in after your monthly funds have been disbursed.

• Do I need to keep the utilities on in my name?

  Yes. If the tenant is responsible for utilities, you should keep the utilities in your name until the tenant transfers service into their name before move‑in. We strongly recommend enrolling in Duke Energy’s “Revert to Owner” program, which automatically switches service back into your name when a tenant moves out so there is no interruption in power between tenancies. To enroll or learn more, call Duke Energy at 800‑777‑9898.

  If your property includes utilities as part of the rent, you will need to keep the utilities in your name for the entire tenancy and pay the bills directly.

  Utilities must remain on during vacancies to protect the property and allow for showings and maintenance. Many owners choose to handle this themselves, but Doss & Spaulding can manage utility transfers between tenancies for you for an additional 10% surcharge on top of any utility bill that we pay on your behalf.

• What are the insurance requirements for you to maintain my property?

  You must carry a landlord (rental dwelling) insurance policy on the property, not a standard homeowner’s policy, since the home will be occupied by tenants and not by you as the primary resident. Landlord policies are designed to cover tenant-occupied properties, including liability for injuries and certain tenant-related losses.

  We recommend at least 1,000,000 in liability coverage. In many cases, the difference in premium between 500,000 and 1,000,000 of liability coverage is relatively small, but the added protection can significantly reduce your risk exposure.

  Please also list “Doss & Spaulding Properties LLC” as a certificate holder/additional interest on your policy so we can receive notices of cancellations or changes and help ensure your coverage stays in place while we manage the property.

• Will I get end of the year tax documents?

  When we take over management of your property we will request a W-9 Form from you. This will provide us the information needed to issue your end-of-year 1099 form for tax purposes. We will also issue you a Year-End Owner Statement so you can itemize the deductions for your tax return.

Current Owner FAQ

• How often do you inspect the property?

  We complete a detailed inspection at move-in and move-out for every tenancy to document the property’s condition before and after each resident. We also inspect the property between unit turns and conduct routine interior walkthroughs twice per year.

  For leases of 12 months or longer, we aim to time these routine inspections around 90 days after move-in and approximately 90 days before the end of the lease term. This schedule allows us to catch issues early, plan upcoming work, and ensure the home is in good condition well before renewal or re-listing.

• What happens if there is something that needs to be fixed at my property?

  If the repair is less than $500 then we will have it addressed immediately without having to involve you in the decision process. The cost will be deducted out of the next month's owner disbursement.

  If a repair is recommended that is over $500 then we will seek your approval first and may obtain multiple quotes to give you options to choose from. However, if there is an emergency situation that affects tenant safety or habitability, we will take swift action to mitigate damages and we will be in immediate communication.

• What happens if the tenant does not pay their rent?

  The tenant has until the 5th of the month to pay their rent without incurring a late fee. If the tenant has not paid rent by the 6th of the month then we charge a late fee and issue them a notice to pay or vacate by the 10th of the month. 

  If the full rent and late fees have not been paid by 5 PM on the 10th then we will file for eviction between the 11-13th of the month.

• What is the eviction process if the tenant does not pay, and what is the cost to me?

  If a tenant stops paying rent, we will file a summary ejectment case in small claims court and appear before the magistrate on your behalf. The court typically schedules the hearing within about 1–3 weeks of filing, depending on the county’s docket.

  If the magistrate rules in your favor, the tenant has 10 days to move out, pay in full, or file an appeal to district court. During this 10‑day appeal period, you cannot remove the tenant or change the locks.

  If the tenant does not move out or appeal within 10 days, we request a Writ of Possession so the sheriff can schedule the lockout. The sheriff usually sets a lockout date within about a week, at which point the locks are changed and possession is returned to you.

  After lockout, North Carolina law requires that the tenant have 7 days to reclaim any personal property left behind (if you choose to store it) before it may be disposed of or sold as allowed by statute. This means the full nonpayment eviction process, if uncontested, often runs about 4–6 weeks from filing to regaining possession.

  You are responsible for all direct eviction-related costs such as filing fees, service fees, sheriff/writ fees, locksmith charges, and any attorney’s fees if counsel is involved. In North Carolina, typical out-of-pocket court and service costs for an uncontested magistrate-level case often total in the range of roughly 200-300 dollars.

  If the tenant appeals the magistrate’s decision, the case moves to district court and an attorney must be involved, which adds legal fees and extends the overall timeline. In some cases, state law and your lease may allow recovery of certain court costs and attorney’s fees from the tenant if you ultimately prevail, but these amounts are not guaranteed or immediate

• How do you pick contractors?

  The contractors we use on your rental are the same ones we use for ours. These are contractors that we know and trust. We place a huge emphasis on using contractors that are insured, reliable and do high-quality work.

• Will I still need to pay the insurance, taxes, and HOA dues every month?

  Yes, it will be your responsibility to keep up with these operating expenses.

• Can I handle getting the work done at my property?

  Yes you are more than welcome to use your own contractors but you will be responsible for managing and paying them. Because we are not directly working with those contractors, we will not be able to track those expenses for your owner statements.

  If you insist on using your own contractors, and the work is subpar or incomplete and requires us to micromanage or make multiple trips, then you may incur an additional management expense billed at our hourly rate.

• How does the lease renewal process work?

  We try to retain our great tenants in order to minimize vacancy for your property. We will reach out to the tenant approximately 60-90 days before the end of the lease to see what their plans are. 

  If they wish to stay then we will discuss new lease terms and a potential rent increase, if market conditions support it.

• When the tenant moves out, what is your turnover process?

  After the tenant moves out, we complete a detailed move-out inspection and coordinate any repairs or maintenance needed to bring the home back to “rent‑ready” condition. The tenant’s security deposit can be used only for damage and costs that go beyond normal wear and tear, such as broken items, excessive damage, junk removal, or abnormal cleaning needs.

  Normal wear and tear—such as light scuffs on paint, small nail holes, minor carpet wear in high‑traffic areas, and routine cleaning—cannot legally be charged against the security deposit under North Carolina law and remains the owner’s responsibility.

  Typical owner-paid turnover items often include rekeying locks, paint touch‑ups or partial repainting, carpet or flooring cleaning, changing HVAC filters and smoke detector batteries, and deep cleaning the property. Our goal is to move quickly and efficiently through this turnover work so we can place a qualified new tenant as soon as possible and keep vacancy time to a minimum.

• If I decide to sell or buy more investment property, can you assist?

  Yes! We would LOVE to help with that. Both of our company's founders are licensed real estate agents. Our passion is helping owners build wealth through real estate and this includes buying and selling. We would love to have you as a client!