Do you manage your own rental property? Do you know the legal requirements?

April 6, 2023

Here are a few things to keep in mind that a Property Manager could help you with!


-You must have a trust account specifically to hold security deposits from your renters. If you do not and you deposit these funds into your personal account, this is commingling, which is illegal. You also must notify the renter where the money is being held within 30 days.   

-You may not pay or give any type of consideration to anyone, including family, to assist in any part of the leasing process of your property unless they are a licensed real estate agent. 

-As a landlord you must return the security deposit within 30 days of termination of the lease.

-If you must evict a tenant, it can take anywhere between 1 and 3 months.

-You must be very careful to abide by the Fair Housing Act.

-You must hold a tenants’ abandoned property for 30 days.

-There is a limit of how much you can charge for a security deposit.

-If you do not make repairs within a “reasonable amount of time,” the tenant can hold the rent payment.

-You must give the tenant 5 days after the due date to pay rent.

Hiring a Property Manager will help ensure that you are in compliance with NC law- it is part of our job!



Front Porch Rentals is a Property Management Company located in Fuquay-Varina and servicing Fuquay-Varina, Willow Spring, Holly Springs, Apex, Cary, Raleigh and surrounding areas in Wake County, North Carolina. 
If you would like to learn more about the benefits of hiring a Property Management company, visit our website: www.frontporchrentalsnc.com