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Carolina Livng Rental Qualification Criteria

January 10, 2023 by

The Application Process.

The first step to renting a Sparrow home is filling out an application. We invite you to apply! All future residents are able to meet minimum employment and income requirements, and maintain a good rental and credit history. You’ll find an overview of these requirements below, and you can download complete detail at the link to the right. Review the information to decide if you’d like to apply. We hope you do!

Final qualification and approval is determined following review of your application.

Application Link

Overview of qualification criteria

Income

Applicants must have a minimum combined household gross income of 3.0 times the monthly rent. To verify income, we require acceptable income documentation (summarized below) and may request additional supporting documentation!

Credit

A credit history will be completed on all applicants to verify credit worthiness. Income plus verification of credit history will be considered to determine rental eligibility and security deposit levels. Late payments, collections and charge-offs will be negatively scored. Open bankruptcies, eviction or collection actions or judgments will result in an automatic denial.

Criminal History

A criminal background check will be completed for each applicant and occupant age 18 years or older. The rental application will be denied for certain felony convictions up to ten (10) years prior to the application date, or any felony conviction for sex and terrorism related offenses regardless of time.

Rental History

Prior rental history will be verified. Rental applications will be automatically denied for current outstanding debt/civil judgment or eviction within the last five (5) years.

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Pet Guarantee

December 19, 2022 by


Carolina Living Guarantees cover the cost to repair damages caused by approved pets exceeding the security deposit up to $500.

$500 Pet GUARANTEE

 

 

 

 

Conditions for Carolina Living Real Estate’s Pet Damage Guarantee:

  • Carolina Living Real Estate must have approved the pets & the tenant must be on a Carolina Living Real Estate Lease.
  • Damage by unauthorized animals is not covered
  • Carolina Living Real Estate will determine what is considered pet damage & repairs must be made by an approved vendor

***The Federal Fair Housing Act does NOT consider Emotional Support or Service Animals “pets” under the lease.

WHY OWNERS SHOULD OFFER A PET FRIENDLY HOME:

  • The American Veterinary Association estimates that 50% of renters have pets and that 35% of those without pets said that they would have pets if allowed by landlords
  • Pet-friendly properties rent in about half the time with twice as many applicants as properties not allowing pets
  • Renters with pets tend to stay in a property longer resulting in less turnover & reduced expenses due to vacancy
  • Happier Tenants – Studies have shown that owning a pet can improve happiness, well-being, and health

 

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On Time Rent

December 14, 2022 by

Carolina Living Real Estate Property Management Guarantee
Carolina Living Guarantees that once we receive your rent your owner’s payment will be processed within 10 banking days or our services for that month are free.

On Time Rent Payment GUARANTEE

 

 

 

 

Conditions for Carolina Living Real Estate’s On Time Payment Guarantee:

  • Carolina Living real Estate will process rent received on-time within 10 business days or waive that month’s management fee. In addition, we collect the late fee and always include this amount with your rent, never retaining the amount for ourselves.Making sure you get your money as soon as possible is the reason we offer our On-Time-Rent Guarantee. This is NOT a Guarantee that tenants will pay rent, but a Promise that Carolina Living Real Estate will process rent in a timely manner.
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Leasing Guarantee

December 1, 2022 by


If a tenant that we placed does not fulfill at least 9 months of a lease term, we will find a new tenant for your property at no cost to you.

Leasing GUARANTEE

 

 

 

 

Carolina Living Real Estate has an extensive screening process to ensure the tenants we procure are qualified; however, life happens, and when it does, we have you covered. If a tenant does not fulfill at least 3/4 of a lease term, we will find you a new tenant at no additional charge

Carolina Living Real Estate Screening Process:

  • All occupants 18 & over must apply
  • Applicants are approved based on a scoring process that is fair & consistent to comply with Fair Housing
  • Criminal background check
  • Credit check to detect any collections, bankruptcies & assess creditworthiness
  • Employment & Income are confirmed by contacting the actual employer or supervisor
  • Landlord references are interviewed & verified
  • Applicants with outstanding evictions, filed evictions or unpaid rental collections are not considered

Conditions for Carolina Living Real Estate Leasing Guarantee:

  • We must have placed the tenants. This guarantee does not cover tenants we’ve taken over or inherited
  • The guarantee is not applicable in the event a tenant does not fulfill their lease due to military orders, military transfers, or any other legal cancellation of a lease
  • The guarantee does not cover tenants who have abided by the lease terms by paying appropriate lease termination fees (if allowed)
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30 Day Guarantee

December 1, 2022 by

Carolina Living Real Estate
Carolina Living Guarantees to lease your property in 30 days or less or we’ll manage it the 1st month for free!

30-DAY RENTAL GUARANTEE

 

 

 

 

Every day an investment property is vacant is a day of lost income. Adding the 30-day Rental Guarantee to your property management agreement assist with our owners ROI of an extended vacancy!

Conditions for Carolina Living Real Estate’s 30-Day Rental Guarantee:

  • Guaranteed Rental Price must be an amount agreed upon by both Owner & Carolina Living
  • The property must be vacant with all utilities on & meet our quality standards
  • The 30-day period is from the day the property is deemed move-in ready & placed on advertising for immediate occupancy through the time an applicant is approved & the security deposit is received
  • The property must be available for showings
  • The house must be pet-friendly
  • The owner must be under a Carolina Living’s PM Agreement that includes the 30-Day Rental Guarantee
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Charlotte | Winston Salem Property Management:Tired of Getting Nickle and Dimed?

September 15, 2022 by

Carolina Living Real Estate Saves You Money with Property Management

Are you tired of looking up and seeing more charges from your Property Manager? Look no further. Contact us to discuss with no obligation!

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Charlotte|Winston Salem -Tips for Working With Contractors

August 22, 2022 by

Carolina Living Real Estate Can Help with All Your Real Estate Needs

 

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Make More Money Investing In Real Estate

August 12, 2022 by

Call on Carolina Living’s Expertise To Help You With Your Real Estate Needs


There are many ways to invest in real estate that has short- and long-term benefits. We have helped many investors with their buy and hold business model as well as those doing flips.

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Rental Bidding Wars Have Begun

July 19, 2022 by

Let Carolina Living Real Estate and Property Management Help You with all your Real Estate needs

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Typical U.S. Asking Rent Surpassed $2,000 for First Time in May

June 13, 2022 by

Real Estate News From Carolina Living Real Estate and Property Management!

Property Management for 8% and Zero up front costs.

The median monthly asking rent in the U.S. surpassed $2,000 for the first time in May, rising 15% year over year to a record high of $2,002. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain.

For the Charlotte in the same period:   Rent average is $1822 which is an 8.7% Increase

According to economists: “rising mortgage-interest rates are forcing would-be homebuyers to keep renting,” “While renting has become more expensive, it is now more attractive than buying for many Americans this year”. “Although we expect rent-price growth to continue to slow in the coming months, it will likely remain high, causing ongoing affordability issues for renters.”

Contact Carolina Living Real Estate  to get your real estate questions answered!

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