My partner and I are under contract on our first property and the units have current tenants that are not under any sort of lease, but are paying monthly(Well below market rate).
My main question is, where should we go to find definitive documents of landlord/tenant rights in NC? I have found numerous law firms with a bunch of vaguely helpful summaries, but can't seem to find formal state documents. I would like to become a SME in the area so that I can ensure we are in compliance with all state requirements.
Secondary question is: Does anyone have advice for this particular situation? The intent is to vacate the properties after closing. I have read that in NC you need only to provide 7 days notice to evict month-month tenants... but we intend to give them ample time to vacate because who can get out of a house in 7 days!?
Contrarian Investor · Greensboro, NC · Member since 2016 · 219 posts · 174 votes
6y
Hey Kyle, if you're still looking for guidance the below may help:
Talk to an Attorney for free this Friday!
Dear Friends,
Please feel free to forward this email to friends, family and others in North Carolina who might benefit!
The NC Bar Association’s 13th Annual “4ALL Statewide Service Day” will take place on Friday, March 6, at call centers in Asheville, Charlotte, Fayetteville, Greensboro, Greenville, Raleigh and Wilmington. On that day, North Carolinians will be able to talk to an NC lawyer by phone for free!
Attorney volunteers from the North Carolina Bar Association will take calls from members of the public with law-related questions. Each year, nearly 10,000 North Carolinians call in and talk to volunteer lawyers at no charge during the 4ALL Statewide Service Day.
Anyone in N.C. can call one of the toll-free numbers between the hours of 7 a.m. and 7 p.m. Callers will not be asked for their name or any contact information - they can just ask their questions!
The toll free phone numbers will be available later this week, so be sure to check out our Social Media (and search hashtag #4ALLNCBF) to receive the phone numbers. You can also go to www.ncbar.org to get the phone numbers for the other call centers across the state when they are released. If a toll-free number is busy that day, callers can use any of the phone numbers listed.
Areas of practice will include criminal law, real estate, wills and probate, powers of attorney, landlord-tenant, immigration, child custody and support, divorce, business, debt collection and more.
We would appreciate your help in getting the word out, so please feel free to forward this message to organizations, friends and family so those who have legal questions know about this opportunity to talk to a North Carolina lawyer at no charge.
Again, it’s this Friday, March 6, from 7 a.m. to 7 p.m. Thanks for helping us spread the word!
Rental Property Investor · Salisbury, NC · Member since 2014 · 22 posts · 11 votes
6y
Why would you want to evict longstanding paying renters as soon as you buy the place anyway? You have to remember that your reputation is very important in RE and doing so would not get you off to a good start. Let them stay at their current rent for a year (better cash flow than a vacancy because they moved out) then gradually work them up toward full market rents in time.
@Rick Grubbs because they are paying to the tune of $125/month with a market rate of $700/month and we need to rehab the properties. The living conditions are not suitable either.
Also, if the tenants are paying monthly then it sounds like they are on a month to month type of arrangement (since there is not a lease) which would mean a 30 day notice would need to be given. That would be much easier than evicting. I would press the buyer again for some kind of documentation of a lease, deposits ect.
Contrarian Investor · Greensboro, NC · Member since 2016 · 219 posts · 174 votes
6y
Hey Kyle, if you're still looking for guidance the below may help:
Talk to an Attorney for free this Friday!
Dear Friends,
Please feel free to forward this email to friends, family and others in North Carolina who might benefit!
The NC Bar Association’s 13th Annual “4ALL Statewide Service Day” will take place on Friday, March 6, at call centers in Asheville, Charlotte, Fayetteville, Greensboro, Greenville, Raleigh and Wilmington. On that day, North Carolinians will be able to talk to an NC lawyer by phone for free!
Attorney volunteers from the North Carolina Bar Association will take calls from members of the public with law-related questions. Each year, nearly 10,000 North Carolinians call in and talk to volunteer lawyers at no charge during the 4ALL Statewide Service Day.
Anyone in N.C. can call one of the toll-free numbers between the hours of 7 a.m. and 7 p.m. Callers will not be asked for their name or any contact information - they can just ask their questions!
The toll free phone numbers will be available later this week, so be sure to check out our Social Media (and search hashtag #4ALLNCBF) to receive the phone numbers. You can also go to www.ncbar.org to get the phone numbers for the other call centers across the state when they are released. If a toll-free number is busy that day, callers can use any of the phone numbers listed.
Areas of practice will include criminal law, real estate, wills and probate, powers of attorney, landlord-tenant, immigration, child custody and support, divorce, business, debt collection and more.
We would appreciate your help in getting the word out, so please feel free to forward this message to organizations, friends and family so those who have legal questions know about this opportunity to talk to a North Carolina lawyer at no charge.
Again, it’s this Friday, March 6, from 7 a.m. to 7 p.m. Thanks for helping us spread the word!
Rental Property Investor · Norfolk, VA · Member since 2017 · 260 posts · 174 votes
6y
@Kyle Groseclose You could let them know the property is under new management, that you intent to renovate the properties when vacant, and that they will need to sign a lease to remain tenants. Some may choose to do so, at which point you can raise their current rent slightly. Those who don't choose to sign a lease, the notice of new management can be their 30 days notice.
@Kyle Groseclose You could let them know the property is under new management, that you intent to renovate the properties when vacant, and that they will need to sign a lease to remain tenants. Some may choose to do so, at which point you can raise their current rent slightly. Those who don't choose to sign a lease, the notice of new management can be their 30 days notice.
This right here is the way to go. New management in town - if there is no current contract, time to apply your own and have them sign it. This is a good time to increase the rent, but I still wouldn't place it at market value quite yet. Vacancy can set you back VERY quickly.
Homeowner · Tampa, FL · Member since 2016 · 358 posts · 65 votes
6y
Keep others tenant is a real headache. Just take the proper action and let them move out. The big price difference, do whatever they did with former landlord.... Now you will charge more and ask them to sign the contract. No focus in life people will focus on how to bother you from day one.
Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
6y
100% consult an attorney. Issues arise with lifelong tenants because they know the law and often times DIY landlords do not. If that ever gets to courts, a judge will rule in the favor of those that knew the laws. NC is in general favorable to landlords, but you have to make sure you've followed the right procedure to get on the court's good side.