Frequently Asked Questions

Tenants-

Do you charge a deposit?  How much is it?

Do you check credit?

What kind of credit do you need to have?

How much is the application fee?

Where do I send my rent check?

When is my rent due?  How much is the late fee?

Whom do I call for repairs?

Do you Accept Section 8 Vouchers?

Do you Accept Pets?

Will you accept a co-signer? 

 

Owners-

What services does your property management company provide?

How much do your services cost?

When do I get my disbursement?

 How do I pay for repairs if you don’t set up any Repair Escrow Accounts?


Tenants-


Do you charge a deposit and how much is it?

Yes, we do and it is typically $25 less than the monthly rent.


Do you check credit?

Of course we do.  The Application fee covers the cost of us pulling and reviewing your credit along with a nationwide background and rental search. 


How much is the application fee?

The Application Fee is $50 for the first application (which can include a married couple- 2 folks for the same $50), and $40 each additional application.  For individuals it is $40 each.


What kind of credit do you need to have?

We are looking not for a specific credit score but an overall credit history, especially in the last 2 years.  If you have judgments, liens, non-payment of rent or evictions, or if you have a history of 30/60/90 day late payments or late payment of rent, please don’t waste your time or our time.  Medical and Student loan payments do NOT reflect badly, but if you can’t pay your rent or bills where you are, odds are we aren’t going to rent to you.  


Where do I send my rent check?

Please pay your rent online by CLICKING HERE!

If you MUST pay by check or money order, please send your payment to:

Elder Properties

PO Box 8697

Greensboro NC 27419

We do not accept payments in person or in cash.  Call if you need to make other arrangements.



When is my rent due?  How much is the late fee?

Rent is due on the first of each month, and you will be charged a late fee for anything rents received on or after the 6th.


Whom do I call for repairs?

Your lease requires all repair requests to be in writing unless it is an emergency.  We ask that you fill out the Repair Request Form (under the Renting heading) or email us at repairs@yourhometriad.com so we can expedite your request.  You are welcome to call us at 336.298.8289 but we will ask you to put your request in writing per NC General Statute 42-42.   


Do you Accept Section 8 Vouchers?

We accept Section 8 Vouchers on a case by case basis depending on whether or not the owner will allow us to. If we know one of our homes will accept Sec 8 or has in the past we will most certainly put that in the remarks. And we can ask the owner if they would be willing to if you like. Remember, make your arrangements with Greensboro Housing Authority first- if you are transferring in from another town or have not been accepted by the program, please check with GHA first. 


Do You Accept Pets?

We do accept pets with an additional $250 refundable pet deposit but only if the owner allows us to.  Weight limit is 50 pounds and we will ask for a photo of you and your pet.  Also we require references from previous landlords about your pets and may have to get approval from the owner about your specific breed.  Plus some owners may allow cats but no dogs and vice versa. That being said, we like pets and will work with responsible pet owners as much as we can.

Will you accept a co-signer?

Yes we will accept a co-signer for your lease if that person or persons lives in Guilford County. We will not accept co-signers from anywhere else.

Owners-


What services does your property management company provide?

We arrange and provide a variety of services, including but not limited to getting the property ready to rent, showings, taking applications, verifying credit and rental worthiness, arranging repairs, collecting rent, accounting and bookkeeping, evictions and more.  You as an owner do not have to do a thing unless you want to.


How much do your services cost?

Our fees are as follows:  There is a $99 startup fee (The startup fee is a one time charge), due before we begin marketing your property.  We charge no additional startup fees, no repair escrow setups, no month’s rent up front or anything else.  Then once your home is rented, and not before, we charge ½ the 1st month’s rent and 8% each following month.  Every time we “turn over” a home (i.e. it becomes vacant and we get a new renter) the ½ month’s rent is charged.  If your tenant stays in the home for over a year, then you only get charge the ½ month’s rent the first month.  If they stay 10 years, it’s still just 8% per month- there is no charge for yearly renewals. You are only charged the 1/2 month’s rent when the tenant vacates and we put in a new one.


When do I get my disbursement?

We are now doing direct deposit with most all of our owners.  Those that are on direct deposit usually receive their payment by the 15th.  Provided, of course, the renters have paid on time and paid online.  For those still receiving checks, they are mailed out around the 15th of each month (unless the 15th falls on a Sunday).  We have to hold the checks received for 10 days to make sure they do not bounce.  


How do I pay for repairs if you don’t set up any Repair Escrow Accounts?

If a repair is called for, and it’s less than $250, we won’t even bother you with it.  We will have one of our vendors take care of it and subtract it from the next month’s disbursement.  You’ll get a copy of the bill if you need it for your records.  If a repair is more than $250 or is a major repair, you will be notified so that you can make a decision about the repair before it is done.


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