Maintenance Request
About H&L
Available Homes
Looking to Rent?
Forms
Testimonials
FAQs
Living in Charlotte
Contact Us
Equal Housing
Welcome to our FAQ Page!
Here is where you can find answers to the most common questions asked by our customers! If you cannot find question you are looking for, click the search button!
 
Enter Keyword to Search:  
 
 General
 Fees & Prices
 Tenants
 Property Maintenance
 Other H&L Services

General

Q: What does H&L Rental Homes and Property Management do, exactly?

A: In a nutshell, H&L specializes in helping investors find, buy and/or manage investment properties. However, we also work with people who simply want to find a home.
Q: Who are the owners?

A: H&L was founded in 2002 by Real Estate Broker Clarence Haines and Financial Analyst Chris Leslie.

Clarence Haines is a licensed real estate broker in North Carolina and South Carolina. Clarence is also affiliated with Allen Tate Realtors, a well-known real estate firm in North Carolina. Clarence has been with Allen Tate for 10 years, and is one of their most successful brokers. This affiliation, coupled with Clarence’s extensive investment background, makes him uniquely positioned to help people find, buy and manage investment properties.

Chris Leslie is H&L’s Chief Financial Analyst and Marketing Specialist. Chris’s background includes experience as a senior investment analyst, and over 15 years' experience in the investment property sector. Chris specializes in ‘Needs Analysis’ for H&L clients, and is an investor himself, so clients can be assured he knows what he's talking about, and is well-suited to advise them on investment properties and opportunities.

Q: What is a “Needs Analysis”?

A: Basically, a Needs Analysis is the process of answering the following questions on behalf of a potential investor:

  • Can they afford it?
  • If so, how much can they afford?
  • If there is risk involved, is it appropriate to the investor’s financial situation?
Q: What happens once the Needs Analysis is complete?

A: Once these questions are answered to everyone’s satisfaction, H&L begins the search for the right property for that investor. We will not let an investor buy a property unless we would buy it ourselves. We put the client in touch with a mortgage broker, and initiate a marketing plan. Our goal is to have a tenant in the property by the time the first payment is due, thereby saving the investor any out-of-pocket expense. We meet this goal in about 87% of our property transactions.
Q: If you could give a new investor one piece of advice, what would it be?

A: Buying investment property can be fun, exciting and profitable, but it's absolutely crucial for the potential investor to know what they are getting into, and how it will affect them financially. Work with professionals who know what they're doing, ask every question you can think to ask, and make your decision based on what is right for you and your situation.


Fees & Prices

Q: How much do you charge?

A: The following is an example of how are fees are structured:

Initial Fee:
There is a standard one-time filing fee of $495 for any new investor, this includes a one time advertising and set up fee.

Other Fees:
1. Fifty percent (50%) of the first month’s rent. This is a per tenant charge.

2. Nine percent (9%) of the monthly rental. This is a monthly, on-going charge.

Example:
1. You buy an investment property that rents for $1,000 per month and ask H&L to manage that property for you.

2. You pay H&L 50% of the first month’s rent ($500) plus 9% of the monthly rental amount each month thereafter. In this case, 9% of $1,000 is $90.

3. H&L collects the $1,000 rent from the tenant, deducts the $90 fee and sends the balance of $910 to the property owner.



Tenants

Q: How do you screen potential tenants?

A: We provide a ‘due diligence’ screening process, which includes a credit check, rental references and a review of work history. We collect an escrow deposit and place it in an escrow account. If, for whatever reason, the tenant is delinquent on their payments, we handle the eviction process.
Q: What if one tenant leaves and another moves in?

A: This agreement is per tenant, which means that if one tenant leaves and another tenant that we find for you moves in, you pay the 50% fee for the new tenant, plus the 9% monthly fee. If a tenant extends their lease beyond 12 months, the 9% fee is extended as well.


Property Maintenance

Q: What about maintenance of the property?

A: If there is a problem with any property we manage, we send our maintenance crew to fix it immediately.
Q: How large is your maintenance staff?

A: We have 2 full-time maintenance staff, with over 30 years’ experience in all forms of property maintenance, from construction to plumbing, painting, and landscaping.
Q: Who pays for the maintenance?

A: The investor pays, but they have the peace of mind of knowing it will be done right, and that they don’t have to do it themselves. To many investors, this is invaluable.  Further, because we have our own maintenance staff, we are able to provide repairs to our clients in a cost-effective manner that results in repair costs that are well below market.  We also drive by all our properties at least once a month to make sure everything is okay and that the yard is being well-maintained. If not, we will take over the maintenace and charge the tenant, not the investor.


Other H&L Services

Q: What if I want to use some, but not all, of your services?

A: That’s fine. For instance, some of our clients work with us up to the point where we have found a property and a tenant for them, and then they take it from there. For this we charge the standard $395 filing fee, plus 75% of the first month’s rent. In the example where the rent is $1,000 per month, this is a total cost to the investor of $1,145: $395 + $750.

You can also use our services on a one-time, or per diem (per day) basis. In these cases, we agree a fee up front and then provide you with the service you need. For someone who normally maintains their own property, but is going on vacation, for example, we can arrange to mow the lawn, or provide routine maintenance for the period of time they will be gone.


 
 

SiteWizard ObtainYourName Search Engine Dogs AAA Family Websites web site design custom charlotte