Long Term Owners FAQ

Call our Long Term Manager, Cole Wagner at 252-247-7610 to set up an appointment.

The initial Property Management Agreement has a 1 year term. At the end of the initial term, the agreement is automatically renewed. You may terminate the Property Management agreement at any time with a 30 day notice.

Properties we manage will be posted on our website at www.spectrumproperties.com. It will also be promoted on most major rental websites such as Zillow, Apartments.com, Realtor.com, and many others.

We typically do 12-month leases that need to be renewed annually. I some cases, we can do a shorter term if approved by owners and management.

We require a security deposit for all long-term rentals. In most cases it is the same amount as the monthly rent. The Security Deposit is held in a Trust Account until the Tenant moves out. If the tenant leaves the property like they found it, with no damage, clean and with no unpaid rent, the Security Deposit will be returned to the tenant. Security Deposits may be used to cover unpaid rent and damage to the property. It cannot be use to pay for normal wear and tear.

All rent must be paid electronically. We do not accept cash or checks. We will send a reminder email to the tenant every month when the rent is due. They can set up electronic payments using a Credit or Debit Card, but to avoid additional fees they can enter your bank routing number and account number for e-check payments.

The rental proceeds will be paid to you electronically. It will be sent to your bank account. You do not have to worry about get a check in the mail and having to go to the bank to make a deposit.

You will be given access to out rental software through an Owner Portal. You will be able to see all activity in your property including incoming rent, work orders an owner’s statements.

We have some properties that accept pets. When they do, guest will pay a non-refundable Pet Fee in the amount of $250 per pet.

We will do a move-in inspection when you move into the property. We will do a move-out inspection of the property when you move out to check for damage and cleanliness. We also may schedule mid term inspections during your occupancy to insure there are no violation of the terms of the lease.