Tenant FAQs

Answers to your frequently asked questions

Application Questions

• How does the application process work?

  Once we process an application, and a lease is offered you will have 48 hours to review it, ask any questions and sign. If we do not receive the signed lease within the 48 hour period we will void the lease and move on to the next applicant.

  Please be prepared to upload current bank statements, W2, or tax information to provide proof of income equivalent to 2.5x monthly rent. Most of our properties require a credit score of 650 or above. If your credit score is below 650, please let us know if this is due to anything housing related. Once we are able to review the application, it is possible to approve with a larger deposit or we may ask you to secure a co-signer.

• Do I pay first month’s rent and last month’s rent with my security deposit?

  Great question! We collect the security deposit once your lease has been signed. Additionally, we kindly ask that the first month's rent be paid 5 days prior to your move-in date. Don't worry, we'll provide you with all the important dates and information you need in your lease and welcome packet once everything has been signed. We want to make sure you have all the information you need to make moving into your new home as smooth and stress-free as possible!

• How old do you have to be to apply?

  All occupants over 18 must apply.

• Is the deposit refundable?

  Great news! Your security deposit is refundable, in accordance with North Carolina tenant security deposit laws. After you move out, we'll carefully review and assess the property, and return your deposit within 30 days. If for some reason we need more time to complete any additional work, we'll let you know and the process can take up to 60 days. Our goal is to make sure you get your full deposit back as quickly as possible!

• Who needs a cosigner?

  If you are unable to meet income or credit requirements we may require a co-signer.

• I want to get a pet. What do I do?

  We're thrilled to hear that you have a furry friend! To make things easier for you, we have a pet fee schedule available that outlines everything you need to know. We offer a range of options, from pet deposits to monthly fees, so we can work together with both you and the property owner to find the perfect solution for everyone involved, including your beloved pet.

• I want to move out, but my roommate wants to stay. What do I do?

  We understand that things can change during a lease term but unfortunately, we are unable to remove tenants from the lease until the lease term is up. However, we would be more than happy to send a renewal offer to the occupants who want to remain in the property once the lease is up! Until then, it's important to remember that each original tenant and signor on the lease is responsible for the lease terms regardless of occupancy. We hope this helps clarify any questions you may have!

• My lease expiration is coming and I want to move out. What do I do?

  We hope you're enjoying your stay with us so far. We just wanted to remind you that you will have the option to renew your lease 60 days before it ends. This means that you can either choose to move out on the end date of your lease or accept the renewal terms we offer.

• Who is responsible for paying for repairs & maintenance requests?

  We want to make sure that your stay with us is as comfortable as possible, and that's why we have a few guidelines to ensure that everyone takes good care of the property. The owner will be responsible for any major systems repairs, such as plumbing, HVAC, roof, walls, and electrical. However, while you are occupying the property, we kindly ask that you help us maintain these systems, and keep the property in good condition. This includes keeping the property clean, free of excessive garbage, maintaining the lawn, driveway, and sidewalks, changing air filters, and preventing clogs in the plumbing. We understand that accidents can happen, and if any maintenance and repair is needed, the cost will be determined by the contractor at the time of the work and we will communicate this with you through our property manager. Thank you for your cooperation in keeping our property in great shape!

Tenant Help Center

Everything you need to know about renting with Park Real Estate Management — from move-in to move-out and everything in between.

Rent & Payments

• When is rent due, and what happens if I pay late?

  Rent is due on the 1st of each month and is late after midnight on the 5th. A 5% late fee applies to any payment not received by that deadline.

• How do I pay rent?

  The easiest way is through your online tenant portal, where you can pay by e-check (no fee) or debit/credit card (a processing fee applies). You can also mail or drop off a check or money order to our office at 891 Willow Drive, Suite 8, Chapel Hill, NC 27514. Make it payable to Park Real Estate Management and include your name and property address.

• How do I pay my security deposit?

  Pay your deposit through your tenant portal — the same way you pay rent. If you have roommates, rent can be split into separate payments, but the deposit must be paid in a single payment for the full amount due.

Moving In

• What do I need to do before I can get my keys?

  All funds (prorated rent, security deposit, and any applicable fees) must be paid in full, and utilities must be transferred into your name before keys are released.

• Do I need utilities in my name even if I'm moving in after the lease start date?

  Yes — utilities must be in your name by your lease start date regardless of when you physically move in. Keys will not be released until the form is submitted.

• Is my home cleaned before I move in?

  Yes — all properties are thoroughly cleaned before move-in, including professional carpet cleaning. By accepting your keys, you're accepting the home in its current condition.

• Will there be a move-in inspection?

  Yes. You'll complete a move-in inspection form within 7 business days of moving in. We'll provide a web form — take your time and be thorough, since you may notice things after a few days that you didn't on the first. This is for your protection and helps clarify liability for any pre-existing damage.
  If you find maintenance issues during your inspection, please note them — but also submit a separate work order through your tenant portal. The inspection form doesn't automatically generate a service request.

Moving Out

• How do I give notice that I'm moving out?

  Complete a Notice to Vacate form so we know where to send your security deposit refund.

• How do I return my keys?

  All keys must be returned at once on or before the last day of your lease. Late key returns will result in additional daily rent charges. If all keys are not returned, you may be charged to re-key the locks.
  Please return your keys in a clearly labeled envelope with the property name.

• What cleaning is expected when I move out?

  Please leave the property thoroughly cleaned, including all rooms, appliances, ceiling fans, HVAC filters, and floors. If you are responsible for yard maintenance, complete that before your move-out date.
  If your home has carpet, please have it professionally cleaned and submit the receipt when you return your keys. Please note that professional cleaning does not preclude charges for excessive wear, staining, or damage.
  Remove all personal belongings and trash before you leave. Any items left behind will be disposed of at your expense. For large items, contact your municipality to schedule a bulk pickup.

• When will I get my security deposit back?

  We have 30 days from the end of your lease to refund your security deposit. If additional time is needed, we may take up to an additional 30 days. In that case, you will receive an interim accounting statement within the first 30 days notifying you of the extension.
  If you have roommates, the security deposit will be refunded as one check to one tenant. You will designate the recipient on your Notice to Vacate form.

• Do I need to cancel utilities when I move out?

  If you are responsible for utilities, contact the utility provider directly to remove service from your name. If you are billed through a third party (such as EBS or Guardian), we or the HOA will handle the transfer.

Maintenance

• How do I submit a maintenance request?

  Submit all non-emergency maintenance requests through your online tenant portal. For after-hours emergencies, call us at (919) 646-5818.

• What counts as a maintenance emergency?

  True maintenance emergencies include:

  • No heat when it's below 50°F outside
  • No AC when it's above 90°F outside
  • A broken water line or active flooding
  • Sewer backup
  • Gas leak (natural gas smells like rotten eggs — call the gas company first)
  • Fire — call 911 first

  Please note that being locked out is not considered an emergency. If you are locked out after hours, you will need to contact a locksmith at your own expense.

• Am I responsible for light bulbs, air filters, and smoke detector batteries?

  • Light bulbs: Yes, including refrigerator and fluorescent bulbs. If a bulb is in a dangerous location or too high to safely reach from a step ladder, we can assist, although you may be charged for the bulb.
  • Air filters: Yes. Replace them every 30 days, or according to your filter manufacturer's instructions.
  • Smoke and CO detector batteries: Yes. Please test all detectors monthly and replace batteries as needed.

• Will I be charged for maintenance?

  Most maintenance resulting from normal wear and tear is not charged to tenants. However, damage caused by negligence, improper use, or larger issues resulting from an unreported problem may be billed back to you.

• What should I do if I have a pest problem?

  Start by treating the issue yourself using a product of your choice. If your efforts do not resolve the problem, we will step in. If we send an exterminator and there is no verifiable infestation or the issue is determined to be tenant-caused, you may be charged for the service visit.

• What should I do if I have a leak?

  First, stop the source of the leak. Turn off the water supply at the base of the toilet or sink, or shut off the property's main water supply (often located near the water heater in condos). If you cannot stop the flow, contain the leak by placing a bucket underneath it and moving valuables out of the affected area.
  Then submit a maintenance request through your tenant portal, or call (919) 646-5818 if the situation is severe.

• I'm not getting power to an outlet or appliance. What should I do?

  Before submitting a maintenance request, try the following troubleshooting steps:

  • Check any related light switches.
  • Turn all breaker switches off and then back on.
  • Check for blown fuses.
  • Press the reset button on any GFI (GFCI) outlets, which may be located in a different room on the same circuit.

  If an electrician is dispatched and the issue is resolved by simply resetting a breaker or GFI outlet, you may be charged for the service call.

Lease Changes

• What is a Change of Tenant and how does it work?

  A Change of Tenant (COT) formally adds or removes someone from the lease and transfers all legal and financial responsibility. There is a $250 Change of Tenant fee.
  To get started, send us the incoming tenant's full name, phone number, and email address. We'll send them an application (application fee: $75). Applicants must provide proof of income equal to 2.5 times their portion of the monthly rent or have a guarantor apply. Once approved, all parties will sign the Change of Tenant Addendum.
  The security deposit remains with the property and transfers to the new tenant(s). No move-out inspection is completed, and no portion of the security deposit is refunded at the time of the Change of Tenant.

• I need to move out before my lease ends. What are my options?

  You remain responsible for your lease until it expires, but you do have options.
  
  Early Termination Program (EMP)
  If all tenants are vacating the property, we can market and show the home on your behalf. The $1,500 Early Termination Program fee includes the Change of Tenant fee.
  
  Please note that participation in the program does not guarantee a replacement tenant will be found, and you remain responsible for rent until a replacement lease is fully executed.
  
  The Early Termination Program is only available when all tenants are moving out. We do not assist with finding individual roommate replacements.