Holly Springs was recently rated #3 safest city in North Carolina by Cary Living Magazine. The Police department has proactive programs in place that include rapid response and a focus on partnering with the community to keep it safe.
Bass Lake Park, which was opened to the public in 2004, features a 54-acre lake that the NC Community Fishing Lake Program keeps stocked with catfish, plenty of bass (of course!) bream, and crappie. Canoe and Johnboat rental, as well as a free Tackle Loaner Program are available if you forget your pole! The trails are open year-round for hiking and bicycle riding. A North Carolina Environmental Education Center offers native animal exhibits, a reference library and friendly & knowledgeable staff.
Plenty of annual festivals and events such as, Dog Days in the Park, HollyFest, July 5th festivities, Main Street Christmas, Spring Fling, and Turtlefest, provide great entertainment year-round and add to Holly Springs growing appeal!
If you own real estate and decide to lease out your home in Holly Springs, NC, then congratulations: you are now a landlord in the eyes of the law. When you lease out a single-family home in Holly Springs, NC, there are many landlord responsibilities that come with the territory.
Some duties seem clear, like collecting rent or finding tenants for a vacant unit. Others, however, may be less obvious. The more you learn, the more success you will have with your real estate investments. Let’s examine some landlord responsibilities you may have overlooked.
- Knowing the Landlord-Tenant Laws
Ignorance of the law is no excuse. It’s your responsibility as a landlord to know and understand all landlord-tenant regulations for your city and state. Landlords can be (and often are) sued for not obeying their state’s laws, even if they weren’t aware they existed. At Block & Associates Realty, while we are not attorneys, our years of experience allow us to share our knowledge regarding landlord/tenant law.
- Preparing a Legal Lease Document
The lease agreement and any other legal paperwork is all part of a landlord’s duties. It’s your responsibility to ensure the rental contract is legally written and abides by all laws. Leasing periods, monthly rental rates and tenant names must be clearly indicated. In some jurisdictions, legal disclosures, such as security deposit details, must be included. The lease should also contain all appropriate clauses, such as advising tenants to purchase renters’ insurance.
- The Duty to Deliver Possession
Once a lease contract is signed, it is the landlord’s responsibility to deliver possession of the rental unit to the tenant on the agreed-upon date. The unit must be in move-in condition and any previous tenants must have vacated the premises.
- Implied Warranty of Habitability
Another obligation is to make sure the rental unit is in a safe, habitable condition. The property must not have any serious deficiencies, and any supplied appliances, fixtures, plumbing and heating must be in good working order. The property must be free of insects and pests.
- Respect the Tenant’s Right to Quiet Enjoyment
According to most landlord-tenant acts, tenants have the right to quiet enjoyment – meaning to have the benefit of living in their home without being disturbed by the landlord. Once a tenant has possession of a property, the landlord may not interfere with this right. It’s therefore the landlord’s responsibility to ensure he does not enter the rental unit without proper notice (usually 24 – 48 hours, except in emergencies). When a landlord enters the rental property, it must be at a reasonable time of day and for a valid reason.
- Completing Repairs in a Reasonable Time Frame
Tenants have the responsibility of reporting any repairs that need to be done. Landlords’ responsibilities include responding to these reports and completing repairs in a timely manner. Urgent repairs should be done right away, while minor issues can be addressed more conveniently. But beware that un-repaired damage tends to cause more damage and tends to encourage tenants to vacate the rental property. Block & Associates Realty Property Management can help you maintain your rental property in Holly Springs, NC with our preferred vendor list.
- Providing Safety Measures
It is your duty to protect your tenants, to a point. In some jurisdictions, landlords must provide specific safety measures. These may include fire and carbon monoxide detectors, fire extinguishers, front door peepholes, deadbolt locks on exterior doors and window locks.
- Reporting Crime
If a landlord becomes aware of any criminal activity taking place in one of their rental units, they must report it to authorities. For example, some landlord-tenant acts have specific laws that can find a landlord liable if their property is used for dealing or creating drugs.
- Responsible for Property Manager’s Acts
An often-overlooked concern is that you can be liable for your property manager’s acts, including illegal ones. If a property manager does not follow local landlord-tenant laws, the landlord can also be held responsible. Stay up-to-date on your rental property’s operations and keep a watchful eye on anyone who works for you.
Being a landlord involves a steep learning curve when starting out, and the laws aren’t always simple. Taking the time to learn about your responsibilities as a landlord can mean the difference between earning a nice profit and losing money – or worse. Protect yourself by learning the laws that apply to you and surrounding yourself with a team of professionals. Block & Associates Realty has nine full-time professionals dedicated exclusively to Property Management who will serve as your eyes, ears and local representative to ensure your property operates efficiently and effectively. Our goal as your representative is two fold… to protect your investment and to maximize your return on investment.