Owner FAQs

No, this is completely up to you.

Yes! North Carolina law requires that anyone managing properties must maintain an active Real Estate license.

We have an emergency maintenance number that is provided to tenants when signing their lease and in their portal. We do not have an after-hours line for owners. All non-emergent business will be handled the next business day.

All owner processed are processed via Direct Deposit. Owners typically receive their funds in 1-3 business days, depending on their bank. We process owner proceeds on the 10th, or next business day, of the month.

Once a management agreement is signed, we are happy to provide a sample copy of our lease. We handle all of the leasing, including signing, for owners. Once a lease is executed and the deposit has been received, we will send the owners a copy for their records and share it in their portal for future reference.

Innovative Property Solutions sole focus is Real Estate Management. However, our sister company, 360 REALTY, is a sales firm.

We process owner proceeds on the 10th, or next business day, of each month. Owners typically receive their funds in 1-3 business days, depending on their bank.

We are very strict with rent collection. Rent can be paid through their Tenant Portal online, via check, money order, or cashiers check in our office or drop box. Rent is due on the 1st, delinquent follow-up begins on the 2nd, late fees apply on the 6th, and daily delinquent follow-up proceeds from there until collected or we file for eviction (per the owner's approval).

Our lease is 20-30 pages long, depending on any additional addendums needed for that property or pets.

For 12 month leases, North Carolina law allows for the security deposit to be equal to the rent price and no more than two times the rent. Our standard security deposits are the same as the rent price but sometimes are 1.5x or 2x the rent depending on varying credit scenarios.

As soon as you sign the management agreement! Okay, but seriously, we can hit the ground running pretty quick! There may be a few scenarios where there are many units that we might ask for a little lead time but that would be for 50+ units at once.

We currently manage around 200 Residential units under our Property Management division.

You will receive a monthly Owner Statement, a Cash Flow (P&L style), and a 12-Month Cash Flow (T-12 style). If you are looking for a specific report, please don't hesitate to ask. We have a lot of report options, depending on the number of properties you have or your accounting preference.

We, IPS, hold the security deposit in a Trust Account.