1. How will you market my property?
2. Who pays for the marketing of the property?
3. How much will my property rent for?
4. How will my property be shown?
5. Do I have to rent to roommates? How about families with children? Pet owners? Smokers?
6. How long will it take to lease my property?
7. Do you screen potential tenants? How do I know I am getting a good tenant?
8. Do tenants pay a security deposit? How much? What happens to the tenant’s security deposit?
9. How long is your lease?
10. Who collects the rent?
11. Who is responsible for repairs to the property?
12. Am I informed of all repairs you make on my property?
13. What happens if there is an emergency?
14. Who pays for the utilities at the property?
15. When do you mail the owner checks?
16. What happens if a tenant fails to pay rent? How do you handle evictions?
17. Are you licensed?
18. Can you deposit the owner checks money directly into my checking account?
19. How often is my property inspected?
20. What if I want to sell the property while the tenant is under lease? What if I need to move back in to my home?
21. Do I get a written statement accounting for income and expenses?
22. Do you sell real estate too?
23. How long is the property management contract?
24. How soon can you begin managing my property?
25. Where is your office located?
26. What do I do about pool passes?

1. How will you market my property? (Top of Page)

The key to marketing your home is to reach the largest audience possible of potential renters. Some of the ways we market your property are as follows:

• Promoting your property at www.elderbroach.com
• Adding your property to the Multiple Listing Service. This can be accessed by Realtors as well as by prospects by going to www.carolinahome.com.
• Listing your home on http://charlotte.craigslist.org/
• Promoting your property on our widely distributed rental list
• Yard and directional signs
• Realtor referral program
• Digitally photographing the property
• Arranging for and showing properties six days a week

2. Who pays for the marketing of the property? (Top of Page)

Your home can be posted on Rentals.com, rentclicks.com, rentalhouses.com, Google base, Vast, homerentalads.com and Apartmentguide.com, which has over 3 million renters searching for their next home each month. The cost for advertising will be $49 per month. This advertising is optional for our owners, but it is HIGHLY recommended. Elder Broach Properties has negotiated this rate exclusively for our clients and will be available only through Elder Broach Properties. If you ran these advertisements on your own, the cost would be well over $80/month.

3. How much will my property rent for? (Top of Page)

Every property is different, so unfortunately there is no universal formula that you can apply to find the fair market rental value of your home. It usually takes market experience and knowledge to be able to accurately predict how much your property will rent for. Some of the factors that we use to determine the rent are:

• Condition of the property
• Location of the property
• Current market conditions
• Comparable properties in your neighborhood/area
• Neighborhood amenities
• Time of the year

4. How will my property be shown? (Top of Page)

Unlike many real estate companies, Elder Broach Properties will send a licensed agent to show your home. We do not give out keys or leave properties unlocked for prospective residents. If the property is occupied while we are marketing the home, we will coordinate showings with the current resident to make the showings as least intrusive as possible.

5. Do I have to rent to roommates? How about families with children? Pet owners? Smokers? (Top of Page)

There are seven protected classes according to Federal and State housing laws. The protected classes include the following: Race, Religion, Color, National Origin, Sex, Handicap, and Familial Status (children under 18). You are not required (but you may choose to) rent to smokers, pet owners, roommates, etc.

6. How long will it take to lease my property? (Top of Page)

There are several factors that contribute to how quickly a property will rent. These include the following:

• Is the property properly priced?
• Is the property in good condition?
• Is the property in a desirable area?
• How many other rentals are on the market?
• What time of year are you marketing the property?

7. Do you screen potential tenants? How do I know I am getting a good tenant? (Top of Page)

A good tenant is one who pays the rent on time and takes care to preserve the value of the property. The best way to find a good tenant (and avoid a bad one) is through a tough screening process. A thorough background check is vital. Elder Broach Properties uses the following five resources to gather the needed information:

• Credit report
• Employment and income verification
• Prior rental/mortgage history
• N.C. criminal report
• Nationwide eviction report

8. Do tenants pay a security deposit? How much? What happens to the tenant’s security deposit? (Top of Page)

Yes, all residents pay a security deposit. The required security deposit for residents who qualify with our top rating is the equivalent of one month’s rent. (ex. The resident rents a home for $1,500. Before moving in, the tenant will pay a security deposit of $1,500 and the first month’s rent of $1,500). The security deposit is held in a trust account in accordance to N.C. General Statutes.

9. How long is your lease? (Top of Page)

Our standard lease term is for one year. We will not sign a shorter or longer lease without your consent.

10. Who collects the rent? (Top of Page)

All rent is due and payable to Elder Broach Properties, Inc. You will have no involvement in the collection procedure.

11. Who is responsible for repairs to the property? (Top of Page)

By law the owner of the property is responsible for maintaining the property in a “safe, fit and habitable” condition. This means that the owner is responsible for structural and mechanical upkeep of the property. The only exception to this is if the tenant damages the property through intentional or negligent misuse of the property, the tenant is responsible for repairing the damage. However, the tenant is responsible for the following items:

• Yard maintenance (mowing, raking, trimming shrubs, etc.)
• Keeping the gutters free and clear of leaves and debris;
• Replacing smoke detector batteries as needed;
• Changing heating and air conditioning filters
• Keep the plumbing lines free of hair, grease & debris

12. Am I informed of all repairs you make on my property? (Top of Page)

Except in the case of emergency, we will contact you about repair needs at your property. The property management agreement does allow us to make repairs to the property without your consent as long as the repair does not exceed $300. Nevertheless it is our policy to try and reach you before we have a repair made to your property.

13. What happens if there is an emergency? (Top of Page)

In the event of an emergency at the property (broken water line, sewage back up, electrical problem, roof leak, or any other dangerous occurrence) we are contacted by the resident any time (24 hours, 7 days a week) and we will react to the emergency. We will make every attempt to contact the homeowner, but the most important matter is protecting the safety of the resident and preserving the value of the property.

14. Who pays for the utilities at the property? (Top of Page)

The resident is responsible to pay all utilities at the property, including power, gas, water, cable, telephone, trash pickup, etc.

15. When do you mail the owner checks? (Top of Page)

Owners will receive the rent that is collected each month on or before the last day of the month in which the rent was collected. Owner checks are usually mailed on the 26th or 27th of every month.

16. What happens if a tenant fails to pay rent? How do you handle evictions? (Top of Page)

We are very proactive in collecting the rent. For each of our leases the rent is due on the first of the month. The resident has a five day grace period in which to pay the rent, without a late fee being charged. If the rent is not received by the fifth of the month, a late fee is assessed. If the rent is not received before the sixth of the month we will contact the tenant by telephone or in email. Finally, if the rent is not paid by the tenth of the month, we will file eviction papers in small claims court on the eleventh of the month. We believe that keeping in close contact with the residents helps keep collection problems to a minimum.

17. Are you licensed? (Top of Page)

Elder Broach Properties is a licensed real estate firm. The Broker in Charge is Charles Caldwell and he has been a licensed agent/broker and property manager for over 10 years.

18. Can you deposit the owner checks money directly into my checking account? (Top of Page)

As the rents are received by Elder Broach Properties, the collected rents are placed into our trust account. At the time we disburse statements and owner checks, we can deposit your check into your local bank, providing that you furnish us with pre-printed deposit slips for your bank account.

19. How often is my property inspected? (Top of Page)

There will always be a thorough, written line-item inspection of the interior and exterior of a property when a tenant moves out of the property. In addition there will be minimum of a written, line-item interior and exterior inspection every year at renewal time.

20. What if I want to sell the property while the tenant is under lease? What if I need to move back in to my home? (Top of Page)

It is important that you understand that once we have signed contract between a tenant and Elder Broach Properties the tenant is entitled to remain in the property for the duration of the contract (normally one year). The contract would remain in effect even if you sell the property. If there is any question that you may need possession of the property in the foreseeable future, you should not lease your home.

21. Do I get a written statement accounting for income and expenses? (Top of Page)

Yes, as an owner you will receive a monthly report accounting for the financial activity for your property for both month to date and year to date. In addition, the year end summary provides you with an accurate accounting for your property, which will be useful in your income tax preparation.

22. Do you sell real estate too? (Top of Page)

At Elder Broach Properties our main focus is the property management, and not property sales. As a licensed real estate brokerage, however, we are permitted by law to represent sellers and buyers in North Carolina. Ninety five percent of our business activity is property management.

23. How long is the property management contract? (Top of Page)

The property management agreement will begin on the date that you sign it and it can be ended by either the Landlord or the Manager with a thirty day written notice. If the property is vacant at the time an owner wishes to terminate the contract, the contract may be terminated immediately. See the Property Management Agreement, number 3, page 1, for further details.

24. How soon can you begin managing my property? (Top of Page)

If you are not currently under contract with another real estate firm, we can begin managing your property as soon as we each sign the property management agreement. If you are under contract with another real estate firm we cannot manage your home until your current agency is terminated.

25. Where is your office located? (Top of Page)

Elder Broach Properties is located in the heart of Cotswold. We are near the corner of Sharon Amity and Randolph Road. We are easily accessible to the major interstates, uptown, etc.

26. What do I do about pool passes? (Top of Page)

As pool season approaches, it is time to acquire pool passes for your tenant. If your property does not have a pool or other amenities that require special access, please disregard this notice.

If the community where your home is located does have a pool, your homeowner’s association may have already sent you the required forms or documentation. If the form needs to be completed and sent back to them, please do so as soon as possible. If you would like to have the pass or key sent directly to us, please send it to the attention of Stacy Elder at: 203 Greenwich Road, Charlotte, NC 28211. Per the lease agreement, tenants must have access to the amenities of the community.

If your Homeowners association has not been in contact with you as of yet, please initiate the contact to obtain the pass/key.

Homeowner’s associations have become much stricter when allowing property managers to sign for owners on these types of forms. Therefore, we will not be able to make this contact for you.