Thank you for partnering with KRS to manage your property. Our mission is to make a positive impact on the people we work with — maximizing the return on your investment, providing clean and safe housing for residents, and giving you peace of mind knowing your rental is well cared for. We know you have a choice in property managers, and we're glad you chose us.
Below are the questions Raleigh property owners ask us most. If you don't see your answer here, call us at 919-745-8997 or email owner@krsholdings.com during business hours and our Client Relations team will help.
KRS Property Management's standard full-service management fee is 9.5% of the monthly rent we actually collect — if rent isn't collected, you don't pay a management fee that month. For a $1,800/month Raleigh rental, that's about $171/month. The one-time leasing fee to find and place a new tenant is 75% of one month's rent, and lease renewals or tenant relocations are a flat $195. There are no setup fees, no reservation fees, and no hidden fees — we tell you our pricing upfront.
Your full-service fee covers marketing your vacancy, professional tenant screening, lease preparation, rent collection, maintenance coordination, eviction handling for tenants we place, and detailed monthly financial reporting through your online owner portal. You also get a free rental analysis and on-site consultation before you ever sign. Repairs themselves and any third-party vendor work are billed separately at cost.
If your property is vacant, we begin marketing it the day your management agreement is signed (or the start date in the agreement). If it's already occupied, we take over the existing lease and coordinate directly with your current tenant.
We manage residential rental property in the Raleigh area — single-family homes, townhomes, condos, apartments, and small multi-family buildings. Today we manage over 5,000 doors across North Carolina and Virginia.
We serve Raleigh and the surrounding Triangle, including Cary, Apex, Wake Forest, Durham, Chapel Hill, and the rest of Wake County. If you own a rental anywhere in greater Wake County, reach out — there's a good chance we cover it.
We back our service with several guarantee
Our management agreement runs for an initial term of one year and then continues automatically, with either party able to end it on 90 days' written notice. That said, our goal is to earn your business, not trap you in a contract you've outgrown — if your circumstances change, talk to us. We work with owners who need to make a change, and we'll always do our best to make the transition smooth.
You'll receive a monthly income statement in the middle of each month showing income, expenses, and your net "draw." Most owners have their funds by around the 12th, and you'll always be paid no later than the 21st. Direct deposits take 2–3 business days to clear after each disbursement is processed. Your first month's rent — and sometimes the second, depending on the move-in date — typically goes toward the leasing fee and any makeready work needed to get the home rent-ready, so we recommend keeping a small buffer when you first come on board.
Yes. You can set up direct deposit (e-check) right in your owner portal: log in, open My Contact Information → View Detail, click Add Payment Account, enter your banking details, and set your preferred method to e-check. Your Client Relations Specialist is happy to walk you through it.
Yes — owners maintain a small operating reserve (typically $300) in their account so routine bills and minor repairs can be handled without delay. We may adjust the reserve based on anticipated expenses and cash-flow needs for your property.
Rent is due on the 1st of each month with a grace period through the 5th. If rent isn't received by then, a late fee applies as outlined in the lease and within North Carolina's legal limits (NC caps residential late fees at the greater of $15 or 5% of the monthly rent). Collected late fees are typically shared between KRS and the owner. If a payment arrives after our normal disbursement cutoff, we offer off-cycle disbursements at no additional charge so you're not waiting until the next month
Every adult 18 or older who will live in the home must submit a complete application with a non-refundable fee per adult. Our screening reviews identity, income and employment, credit history, background, and prior rental history, and every applicant also completes a pet-screening certification — even applicants without pets (no pet, no charge). We look for qualified, long-term residents who will pay on time and care for your home, and we deliver application results within two business days.
Most rent-ready homes lease quickly. Time-to-rent depends on price, condition, and season, which is why we provide a free rental analysis to price your home competitively from day one. If you'd like a firm timeline, ask your agent about adding our 21-Day Rental Guarantee to your agreement.
Our standard lease is 12 months. If your home becomes vacant in a winter month (October through February), we'll aim to sign a slightly longer term so the lease expires in summer — peak rental season — which reduces turnover and vacancy. With your permission, we'll also sign 24- to 36-month leases to lock in a great resident, at no extra cost to you.
Under North Carolina law (NCGS § 42-51), residential security deposits are capped at 1.5 months' rent for a month-to-month tenancy and 2 months' rent for terms longer than month-to-month. We collect and hold all deposits in a trust account in accordance with Chapter 42 of the North Carolina General Statutes, notify the tenant of where the deposit is held, and account for the deposit after move-out as the law requires — so you stay fully protected.
When a tenant reports a non-emergency issue, we create a work order and contact you by email and/or phone for approval before work begins. If we don't hear back within a reasonable window, we're authorized to proceed on routine repairs so your property and your tenant aren't left waiting — please keep a current email on file and check it regularly. For emergencies (loss of heat orAC, water leaks, sewage backups, no hot water, and the like), we dispatch a technician as soon as possible to protect your property, even before we've reached you.
Yes. For a tenant we placed, eviction handling is part of full-service management. In North Carolina, eviction for nonpayment begins with a 10-day demand for rent (NCGS § 42-3); if the tenant doesn't pay or vacate, we pursue summary ejectment through the court. If we're asked to start legal proceedings against a tenant we did not place, a $495 fee applies.
You get 24/7 access to an online owner portal with monthly income statements, expense detail, and financial reporting, plus a detailed annual statement for tax purposes. KRS focuses on property management. If you decide to sell, we can handle or refer the transaction, but our core service is dedicated to managing your rentals well.
KRS has been managing rental property since 2007 and today oversees over 5,000 doors across North Carolina and Virginia. Our Raleigh office is located at 8504 Six Forks Road, Suite 201, Raleigh, NC 27615.
Still have questions? Call 919-745-8997 or email owner@krsholdings.com during business hours, and our Client Relations team will help.
