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Don't know the fees here in NC. I own my rental property in Atlanta. There the fees were around $100. It's not a hard process. Just go the magistrate court, fill out the necessary papers and the court will send the notice to the tenant. The tenant will have the chance to respond. Depending on if they respond or not the process can take up to two to three weeks. It depends on the jurisdiction. You should check the north carolina courts web site. It should give you details on the process.
Thanks for all the great advice. Has anyone had to actually evict someone and how difficult (from a legal standpoint) is it? I think my skin is thick enough and the suggestion about the LLC to lease as a business was great advice. I just wonder, if you get a bad tenant and have to evict, does this process---break the bank, so to speak?
I don't know how it is in NC. I currently live in the Atlanta area and it is a piece of cake here compared to when I lived in NY ( where you might as well marry your tenant because you are stuck with them) Call the courthouse in the area you live in and as them what the process is. I would be interested to hear what they tell you since I am planning on moving to NC and will probably wind up with some rentals there too.
Another piece of advice... I always tell the prospective tenant that I am going to run a detailed background check on them ( I'm not) and is there anything that is going to come up on it that they want to tell me about ahead of time. Nine times out of ten they spoill their guts and tell you everything they ever did wrong just so they can tell you what their reasons were at the time.
Try checking the local paper and Craig's list to see if you can find similar size properties in your general area. You might call the owners and ask for some information on their places. The times I"ve looked at the Charlotte paper, there didn't seem to be that much advertised and it confused me as to whether there aren't a lot of rentals available or if there is another site I'm not aware of. If anyone knows another site, please let me know what it is.
Think about security deposits too. What works for me is to not charge last months rent but ask for a large security deposit. I haven't had any problems with people trying to skip out on last months rent but if they do damage, I've got a chunk of their money in the bank to fix it with. I tell people that if there is no damage, its all refundable and if they complain about how large it is, I tell them that its like a savings account, if they take good care of my place they will get it back in a year when the lease is over. For example, on a 3 bedroom house I'm holding 1500. In Seattle, by law, I have to keep all deposits in a separate account. Check to see what Charlotte law requires. I know people who want that last months rent in the bank and ask for a lesser amount as security deposit. I think the way my lease is worded is that I can use the deposit for unpaid rent also.
I would check the area and see what comparable housing rents for in the area and charge accordingly. I also charge a security deposit (amount of monthly rent) and last months rent due upon move-in. The reason for this is to cover damage (if any) to the apartment when they move. I also enumerate cost for repairs/cleaning if needed upon move out. If unit is in normal wear condition upon moveout the tenant recovers full deposit. In addition, I reserve the right to terminate the lease if rent is late twice in a 4 month period. And of course, charge a fee on late rent. I charge 7% of the rental amount. I look at thhis fee as penalty as well as a deterrent.
I would check the area and see what comparable housing rents for in the area and charge accordingly. I also charge a security deposit (amount of monthly rent) and last months rent due upon move-in. The reason for this is to cover damage (if any) to the apartment when they move. I also enumerate cost for repairs/cleaning if needed upon move out. If unit is in normal wear condition upon moveout the tenant recovers full deposit. In addition, I reserve the right to terminate the lease if rent is late twice in a 4 month period. And of course, charge a fee on late rent. I charge 7% of the rental amount. I look at thhis fee as penalty as well as a deterrent.
I have never read some much bad information on Landlording in my life, and I have only been doing it 5 years. The most you can charge for late payments is 5%. You can't start charging a late fee until the 6th day. You people really need to read the Statues, ie 42.
FYI, a little jewel I discovered this week is that you can charge an administrative fee for going to court to evict or get money. Just put it in your lease, as long as its reasonable, according to the High Point, NC magistrate, around $25-75. There is no statue on where you can or can't do it so it's a grey area.
There is also no statue coving entry into the premises by the landlord. I had a 24 hour notice in mine, that I just removed. Its not always convenient to give 24 hours notice, besides, its my house. Again read the statues to make your self smart before you get taken to the cleaners. Someone provided a link above.
Currently building a home and are thinking about renting our present home instead of selling it. It is in a good location off McKee Rd., good schools, 4 bed, so I don't think we would have any trouble finding a tenant. I would like to know if anybody out there has had any experience at being there own landlord (not going through a property management company). Any feedback, stories (good and bad) would be appreciated.
We've owned a house in TX for the last 7 years and have rented it out for the last two as we now reside here in Charlotte. We just have family go and drive by the house every once in a while and make sure it is still standing, lol. Haven't had any problems with the tenants, but it helps to have a good family renting.
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Lots of bad information
