Property Management Services

Initial evaluation of the property to determine 

• Needed repairs
• Overall best target market
• Market competitive pricing
• Adherence to local, State, and Federal Housing regulations

Advertising for rent on the Winston-Salem Regional Association of Realtors Multiple Listing Service, Our modern and easy to use website, and other web sites either directly or through the automatic push to rental sites on the internet. 

All rentals are shown by appointment only by one of our Property managers or by an MLS-affiliated Real Estate Agent.  

Applications are received through our website (www.quartersres.com).  Each application will be evaluated for approval based upon agreed criteria between the management company and the owner.  However, once the standards for approved renters have been established, the management company will make the final approval or disapproval of applicants.

We use the NC Association of Realtors approved Leases.

Move-ins will be conducted by the staff of Quarters Real Estate Services on the date of the start of the lease.  A move-in checklist will be provided to the renter for inspection purposes of the unit.

• Quarters Real Estate Services provides each tenant with access to our company website for purposes of rental payments, repair requests, and other communications.
• Repair requests will be addressed within 24 hours of receipt for the determination of appropriate actions.  Consultation with the renter in person or over the phone will be the initial evaluation of issues.  Once a course of action is established the management company will initiate appropriate repairs.  In the event, repairs exceed a pre-determined cost or the likelihood of costs will exceed the pre-determined costs the manager will consult with the owner on making appropriate repairs.
• Quarters Real Estate Services maintains a trust account with a pre-determined amount of the owner’s funds for use in paying repair invoices.  This property reserve fund will be replenished using proceeds from subsequent rents collected.
• Quarters Real Estate Services will pay for any repair costs using the owner’s property reserve not directly paid by the owner.  All Quarters Real Estate Services will pay for any repair costs using the owner’s property reserve not directly paid by the owner.  All invoices paid will be provided to the owner through the owner portal. If any invoice exceeds the total amount of available proceeds the owner will make an owner contribution to their property reserve.
• Periodic inspections of units are conducted by the management company based on an agreed timeframe between the management company and the owner.
• Rent collections will be conducted by the management company based on the lease provided for each unit.  All leases will show rents due the first of the month unless an alternate date is approved by the owner.
• Eviction proceedings will begin on the 6th day after rents are due starting with late notice and all other proceedings will be conducted in accordance with NC State Real Estate laws and procedures.
• All costs of evictions will be the responsibility of the owner but can be paid for through rent proceeds collected by the management company.  The management company will charge these fees to the tenant but will follow the legal process and court orders for how and if the eviction costs can be collected from the renter.

• Quarters Real Estate Services will provide the owner with monthly rental proceed reports in the owner’s portal.  These reports will show the rent proceeds for each unit.
• Proceeds less repair costs and management fees will be deposited directly into an account determined by the owner.  Deposits will be made once rent funds have cleared the management company’s trust account, but no sooner than 10 days from the date rents are due.
• The fiscal year for rentals ends on December 31 of each year.  In January following the end of each fiscal year, the owner will receive a full year statement for each property and 1099 for tax reporting purposes.
• The owner is responsible for filing income taxes based on their proceeds.

• Leasing Fees – Our current tenant procurement rate is equal to ½ month’s rent.
• Management Fees – Quarters Real Estate Services is a flat fee management company.  We charge a flat rate each month a unit is occupied.  Rates can vary depending on the type of property, the volume of properties, and the types of services provided.

• Maintenance surcharge – We do not charge an extra fee to coordinate repairs.  Coordinating repairs is part of property management.