Owner FAQs

Answers to your frequently asked questions

Can you put the money directly into my account?

Yes, for your convenience we deposit monthly disbursements directly into your bank account of choice each month
Do I get to see the lease or sign it?

CPM signs the rental contract on your behalf, once complete, a copy is available on your Owner Portal. The lease is very specific as to tenant requirements and how they are supposed to treat your property.
How do you know how much my property will rent for?

An experienced property manager will come out to your property to evaluate how much your property should rent for and what needs to be done to get the desired rent.
How is rent collection handled?

Per the lease terms, rent is due on the 1st of the month and late after the 5th of the month. Each tenant has an online portal where they can make rental payments with ease.
How much security deposit am I allowed to legally charge the tenant?

Highly qualified applicants typically submit a security deposit equal to one month’s rent. North Carolina law states that a tenant cannot be charged more than a security deposit equal to two month’s rental rate.
Who holds the tenant security deposit?

CPM holds the tenant security deposit in a trust account in accordance with North Carolina law. Once the tenant vacates and a move out inspection has been completed, the security deposit is refunded , in full or in part, in accordance with lease requirements.
What is an owner reserve? How is it funded and how is it used?

Your account reserve is an amount of money that is held in Cardinal Property’s trust account for issues that might arise on your property. The reserve account is typically funded by the initial payments made by the tenant. The reserve is kept so that owners don’t have to send emergency money to fund repairs or other issues on their property.
How are maintenance requests from Tenants handled?

When a tenant submits a work order request, the owner is contacted prior to sending a maintenance tech unless it is a true emergency where the issue might be causing damage to the property. In this event, maintenance is scheduled and then the owner is contacted. When you sign with CPM, your manager will discuss your specific maintenance preferences.
What type of properties do you manage?

Single family homes, townhomes, condominiums, multi-family dwellings
How will my property be shown to potential tenants?

CPM schedules a leasing agent to meet prospect tenants at your property for an in person or virtual tour. This assures that the property is presented by an expert leasing agent and that your property is secured after each showing.