Owner FAQs

No, you are not required to have the property available for Section 8. 

Almost all of our Portfolio Managers, Assistant Portfolio Managers, Accounting Staff and Business Development team have their NC Real Estate Broker’s license.  SPM Residential Services is a member of the National Association of Residential Property Managers (NARPM). 

We employee an on call service, which is available 24 hours a day for maintenance emergencies who understand property maintenance and are able to assist owners and residents with emergency needs that may arise after hours.

Yes, we offer direct deposit to all of our owners.

Once a lease is signed by your new tenant, your Portfolio Manager will sign it and send you an executed copy.  You are not required to sign the lease.  As part of our services, SPM Residential Services provides you with leases and agreements designed to protect you, your investment, and your income.  Our rental agreement is very detailed and spells out the tenant’s responsibilities very clearly.  If you wish to see a sample copy of the lease we send to your tenant, we are happy to provide you with a copy.

No, we do not sell real estate.  We specialize in long term residential property management.  Over the 25+ years we’ve been in business, we have established relationships with Real Estate Sales companies, not only to bring us good tenants for your property, but to also assist you in the home selling and buying process when needed.

Payments to owners are processed twice a month.

Rent collection is at the heart of the SPM Residential Services system. Our service to tenants provides a variety of payment options through our secure payment processing center for collection of all fees. The system is quick and convenient and allows the tenant to pay via: web-based payments, automatic draft, credit card payments, check mail-in, or check drop off.  

Our standard lease term is one year, but with owner approval and/or based on your community guidelines, we can do leases for shorter or longer lease terms.

The security deposit amount varies from property to property and must be paid in advance. The lease must be signed and required security deposit paid in certified funds within 2 business days of application approval. The standard security deposit is equal to one month’s rent and cannot exceed an amount equal to 2 months rent.

We can generally start managing your property within a few days, if not sooner, once we have the required documents/items.

Tenants who have not paid rent by the 5th are immediately sent a late notice on the next business day.  If tenant has not paid rent by the 15th we begin the process to file for eviction (also known as summary ejectment complaint).  In such cases where we have had to file eviction it takes approximately 30 days to legally gain possession of the property. 

Residential; houses, condos, apartments, and townhomes

Owners statements are uploaded to an online owner portal system monthly.  Year End Cash Flow Statements are also uploaded each January to assist owners in preparing their taxes.  Additional reports, including cash flow statements, are available upon request.

A security deposit is collected from all tenants for your protection. These deposits are held in an insured trust account in accordance with state regulations.