Situation guide — rental properties

Tired of being a landlord
in Raleigh? Here's the math.

Your rental property cost calculator

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Property
$80K$700K
$0$4,000
Current rent situation
$500$5,000
018 mo
Ongoing costs
$100$1,200
$0$800
Your numbers
Monthly cashflow (rent − all costs)
−$380
Lost rent to date
$5,400
Total loss since tenant stopped paying
$6,540
Eviction cost estimate (NC)
$2,500–$5,000
Stop the bleeding — get Jay's offer →
~43 days avg. days on market, Raleigh 2026
$96 NC eviction filing fee (Magistrate Court)
30–90 days typical NC eviction timeline
$0 fees when selling to Jay
No eviction
Jay buys with tenants in place — you never file a single court paper
7–21 days
From accepted offer to cash in your account — faster than an eviction
$0 fees
No commissions, no closing costs on your end, no repair requirements
The NC eviction process

The true cost of eviction in NC — time, money, and stress.

Most landlords dramatically underestimate the total cost of evicting a non-paying tenant in North Carolina. The filing fee is just $96. But by the time you add attorney fees, sheriff service, court appearances, the tenant's appeal (which they almost always file), and the months of lost rent during the process — you're looking at $3,000–$8,000 out of pocket and 60–120 days of your life.

And after the eviction, the unit sits vacant while you re-rent it, repair any damage, and start the whole tenant screening process again. For many Raleigh landlords, this math is the final straw.

Issue written notice to vacate

Month-to-month tenants: 7-day notice. Fixed-term lease end: no additional notice required but tenant must be notified of non-renewal. Non-payment of rent: 10-day notice to pay or vacate under G.S. §42-3.

Day 1–10
File for Summary Ejectment with Magistrate Court

$96 filing fee at the Wake County Magistrate. Sheriff serves the summons ($30). Hearing is typically scheduled 7–10 days after filing. You must appear in person or with an attorney.

Day 10–20
Magistrate hearing — likely ruled in your favor

If the tenant doesn't appear, judgment is typically entered for the landlord. If the tenant appears, the hearing takes 10–20 minutes. Judgment is entered same day. The tenant then has 10 days to appeal to District Court — and most non-paying tenants do appeal, because it extends the process by 30–60 more days.

Day 20–30
Tenant appeal to District Court (common)

The tenant can appeal any magistrate ruling to District Court by posting a $100 bond. This resets the timeline — a District Court hearing may not occur for 30–60 days. Attorney fees on your end increase. Loss of rent continues throughout.

Day 30–90
Writ of possession — sheriff removes tenant

After all appeals are exhausted, you obtain a Writ of Possession. The sheriff schedules the lockout — typically 5–10 days after the writ is issued. You must be present. Tenant's belongings are set outside.

Day 60–100
Unit vacant — but the costs aren't done

Damage assessment, cleaning, repairs, marketing, tenant screening, and a new lease. Average vacancy between tenants in Raleigh is 3–6 weeks. During all of this, the property generates no income but incurs all fixed costs.

Day 100–120+
Full NC eviction cost breakdownWake County — non-paying tenant, one appeal
Filing fee (Magistrate Court)$96
Sheriff service fee$30
Attorney fees (Magistrate)$500–$1,200
Attorney fees (District Court appeal)$800–$2,000
Lost rent (3 months × $1,600)$4,800
Mortgage still owed (3 months)$4,800
Vacancy + re-rent period (45 days)$2,400
Unit damage repairs (avg.)$1,500–$5,000
Time cost (your hours)Unquantifiable
Total out-of-pocket $15,000–$20,000
vs. selling to Jay
$0 in fees
Close in 7–21 days · Tenant becomes Jay's problem · You walk away
Your two options

Evict first vs. sell with tenant in place.

Most landlords assume they must evict before selling. They don't. Jay buys tenant-occupied properties as-is. Here's how the two paths compare on every dimension that matters to a landlord.

Option A — Evict first, then sell
Evict, repair, then list or sell
Option B — Sell to Jay with tenant in place
One walkthrough, one offer, close in 21 days
Timeline
90–150 days
Eviction (60–100 days) + repairs + listing + closing
Timeline
7–21 days
Walkthrough → offer → close · Tenant stays until Jay decides
Your cost
$5,000–$20,000
Attorney, filing fees, lost rent, repairs, vacancy
Your cost
$0
Jay covers all closing costs. No attorney fees on your side.
Tenant interaction
Months of conflict
Court appearances, sheriff lockout, potential confrontation
Tenant interaction
None after closing
Jay assumes the tenant relationship on day of closing
Your mortgage during process
You keep paying
$1,600–$3,000/mo for 3–5 months while eviction proceeds
Your mortgage
Paid off at closing
Mortgage paid from proceeds on closing day — your obligation ends
Repairs required
Probably yes
Most agents require repairs before listing; buyer's lender may too
Repairs required
None
Jay buys as-is regardless of tenant damage or deferred maintenance
Sale price
Closer to market
After vacant, repaired, and listed — but net of all costs above
Sale price
Below market
But net of $0 costs — the gap is often smaller than it looks
💡
Jay's honest take: when selling with tenant in place is clearly better

If the tenant is non-paying, has caused damage, or will likely appeal an eviction — the evict-first path costs $15,000–$20,000 more in total and takes 4–5 months longer. The "higher" listing price after eviction often doesn't make up that gap once all costs are accounted for. Run your numbers in the calculator above. If the math works, call Jay. If listing clearly wins, we'll tell you that too. See the net proceeds calculator →

NC landlord-tenant law

What NC law says about selling with a tenant in place.

Selling a tenant-occupied property in NC is entirely legal and straightforward — the tenant has no right to block the sale, and you have no obligation to evict before selling. What the law does require is that you follow proper notice procedures and that the tenant's existing lease rights transfer to the new owner.

NC Residential Rental Agreements Act (G.S. Chapter 42) governs all residential tenancies in North Carolina. Key provisions relevant to a sale:

The lease survives the sale

Under NC law, a sale of the property does not terminate a tenant's lease. If the tenant has a fixed-term lease (e.g., a 12-month lease with 6 months remaining), Jay takes over as the new landlord and honors the remaining lease term. If the tenant is month-to-month, Jay can provide proper notice to vacate after closing — but you don't have to do it before the sale.

Notice requirements when selling

NC law requires you to provide tenants reasonable notice before accessing the property for showings or inspections — typically at least 24 hours' notice under G.S. §42-26. For Jay's single walkthrough of a tenant-occupied property, he coordinates scheduling directly with you to minimize disruption.

Situation Required notice NC statute
Entry for walkthrough/inspection 24 hours (reasonable notice) §42-26
Terminate month-to-month lease after sale 7-day written notice §42-14
Non-renewal of fixed-term lease Notice before lease end date §42-14
Security deposit transfer to new owner Must transfer at closing §42-50
Notify tenant of new owner's contact info Within 30 days of transfer §42-12
Security deposit handling at closing

Under G.S. §42-50, the security deposit must be transferred to the new owner at closing — it doesn't belong to you as the departing landlord. Jay's closing attorney handles this transfer on the HUD-1 settlement statement. Do not return the security deposit to the tenant before the sale — that's the new landlord's (Jay's) right to hold until the tenancy ends.

Related guides
🔨
Sell as-is — any conditionTenant damage, deferred maintenance, code violations — Jay buys regardless
→
💰
Net proceeds calculatorCompare cash offer net vs. listing after all costs — landlord-specific math
→
📋
The full buying processNC attorney closing, due diligence fee, RPOADS — how the transaction works
→
Who calls Jay

Four landlords who've made this decision.

NC State / South Raleigh landlord

"I've owned this place for 8 years and the last two have been a nightmare. Different tenant every year, damage every time, and now the current one is three months behind and won't respond to calls."

Student rental near NC State. Month-to-month tenant, $1,400/month rent, three missed payments, $2,800 in damage from last tenant. Landlord had filed for eviction twice in 3 years. Done.

Jay bought with tenant in place. Closed in 17 days. Landlord received equity and never spoke to the tenant again.
Inherited rental — Durham

"My father left me his rental in Durham. I live in Charlotte. I didn't want to be a landlord and I didn't have time to manage it from 200 miles away. The tenant seemed okay but I had no way to know."

Inherited a 1970s single-family rental during estate administration. Tenant in place on a month-to-month lease, paying $1,650/month. Out-of-state heir with no interest in continuing as landlord.

Jay bought with tenant in place. Remote closing via RON. Heir received inheritance distribution in 21 days without ever visiting Durham.
Portfolio reduction — Cary/Apex

"I have four rentals and I'm tired. The properties are fine but I'm 64 and I don't want to manage them anymore. My kids don't want them. I want out cleanly and I want it soon."

Retired landlord with four Triangle rentals, all occupied, all performing. Wanted to sell two of the four to reduce management burden and access equity for retirement. 1031 exchange not a priority.

Jay bought two properties simultaneously. Both tenant-occupied. Both closed within 30 days. Landlord kept the two best-performing rentals.
Problem tenant — Garner

"I've been trying to evict this tenant for four months. They've appealed twice. My attorney bills are over $3,000. The unit has damage I can't even assess until they're out. I just want someone to take this off my hands."

Active eviction in progress. Tenant had appealed to District Court twice. Landlord had spent $3,200 on attorney fees, missed 4 months of rent ($6,400), and carried $1,800/month mortgage throughout.

Jay bought mid-eviction. Took over the eviction process as new owner. Landlord's total time from Jay's call to wired funds: 14 days.
Ready to sell?

Get Jay's offer on your rental property.

Tenant-occupied or vacant. Problem tenant or great tenant. One rental or a portfolio. Jay makes a written offer with the math shown — within 24 hours of seeing the property.

  • No eviction required — tenant stays until Jay decides what to do
  • Buys as-is — no repairs, no cleaning, no staging
  • Security deposit transferred at closing per G.S. §42-50
  • Jay assumes the landlord-tenant relationship immediately on closing day
  • Can close in 7–21 days — faster than most evictions take
  • All closing costs on Jay — you receive the full offer amount

Request a cash offer on your rental

Jay responds personally within 2 hours.

Questions? Call Jay directly: (562) 234-2832 · Mon–Sat 8am–7pm
Questions landlords ask

What Raleigh landlords ask before selling to Jay

Yes — and this is one of Jay's most common purchases. NC law allows a landlord to sell a tenant-occupied property at any time. The tenant's lease survives the sale: if they have a fixed-term lease, Jay honors the remaining term as the new landlord. If they're month-to-month, Jay can provide proper notice after closing. You never have to file eviction papers, appear in court, or deal with the tenant again after the closing date.
Under G.S. §42-50, the security deposit transfers to the new owner (Jay) at closing. It is not returned to the tenant and it doesn't go into your pocket — it's the tenant's deposit, held by the landlord for the duration of the tenancy. Jay's closing attorney handles this transfer on the HUD-1 settlement statement. You should not return the deposit to the tenant before the sale — doing so could expose you to liability.
Jay buys tenant-damaged properties as-is. He factors the damage into the repair cost estimate and adjusts the offer accordingly. He doesn't expect you to repair anything before closing — that's the nature of buying as-is. Disclose what you know about the damage on the RPOADS form. If the tenant is still in the unit and Jay can't fully assess damage before closing, he prices in a contingency — but the deal still moves forward. See the as-is guide for more detail on how condition affects the offer.
Yes — and this is a situation Jay has handled multiple times. He can buy the property mid-eviction and take over the eviction process as the new landlord. The summary ejectment case in Jay's name after closing proceeds the same way it would in yours. For the selling landlord, the practical benefit is immediate: you get paid on closing day, the eviction becomes Jay's responsibility and cost, and your mortgage is paid off. The remaining attorney fees and court appearances are no longer your problem.
Depreciation recapture is taxed at a maximum rate of 25% on all depreciation you've taken during ownership — regardless of your sale price. Capital gains on the appreciation are taxed at long-term rates (0%, 15%, or 20% federally) if you've held the property more than one year, plus NC state income tax. A 1031 exchange can defer both if you reinvest in another qualifying property within 45/180 day windows. Jay can close quickly enough to support a 1031 exchange timeline. Always consult a CPA before selling — the tax considerations for rental property are significantly more complex than for a primary residence.
Yes. Jay has purchased multiple properties from the same landlord in simultaneous or sequential transactions. For portfolio sellers who want to offload two or more rentals, Jay can evaluate all properties, make offers on each, and structure closings to meet your timeline and tax strategy (including 1031 exchange if applicable). Call him directly at (562) 234-2832 to discuss a portfolio situation — it's handled differently than a single-property sale.

Done being a landlord. Let's make it official.

Jay buys tenant-occupied rentals throughout the Triangle — paying tenants, problem tenants, active evictions, and vacant units. Written offer with math shown in 24 hours. Close in 7–21 days.

Get my rental offer → Call (562) 234-2832
Call Jay: (562) 234-2832 Get offer →