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Renters for a Weekend or a While: What’s the Best Use of Your Investment Property?

The residential rental market is now the fastest-growing segment of the housing market. In the United States, the demand for single-family rentals, defined as either detached homes or townhouses, has risen 30 percent in the past three years.1 And in Canada, rental units now account for nearly one-third of the country’s homes, with particular demand for multi-family units, including apartments and condominiums.2

At the same time, the short-term, or vacation, rental market is also booming. The popularity of online marketplaces like Airbnb, HomeAway, and VRBO has helped the short-term rental market become one of the fastest-growing segments in the travel industry.3

Now, more than ever, there is an abundance of opportunity for real estate investors. But which path is best: leasing your property to a long-term tenant, or renting your property to travelers on a short-term basis?

In this post, we examine the differences between the two investment strategies and the benefits and limitations of each category.

 

WHY INVEST IN A RENTAL PROPERTY? The Top 5 Reasons

 

Before we delve into the differences between long-term and short-term rentals, let’s answer the question: “Why invest in a rental property at all?”

There are five key reasons investors choose to real estate over other investment vehicles:

1. Appreciation

Appreciation is the increase in your property’s value over time. And history has proven that over an extended period, the cost of real estate continues to rise. Recessions may still occur, but in the vast majority of markets, the value of real estate does grow over the long term.

2. Cash Flow

One of the key benefits of investing in real estate is the ability to generate steady cash flow. Rental income can be used to pay the mortgage and taxes on your investment property, as well as regular maintenance and repairs. If appropriately priced in a solid rental market, there may even be a little extra cash each month to help with your living expenses or to grow your savings.

Even if you only take in enough rent to cover your expenses, a rental property purchase will pay for itself over time. As you pay down the mortgage every month with your rental income, your equity will continue to increase until you own the property free and clear … leaving you with residual cash flow for years to come.

3. Hedge Against Inflation

Inflation is the rate at which the general cost of goods and services rises. That means as inflation rises, the money you have sitting in a savings account will buy less tomorrow than it will today. On the other hand, the price of real estate typically matches (or often exceeds) the rate of inflation. To hedge or guard yourself against inflation, real estate can be a smart investment choice.

Leverage

Leverage is the use of borrowed capital to increase the potential return of an investment. You can put a relatively small amount down on a property, finance the rest of the investment with a mortgage, and then profit on the entire combined value.
Tax Benefits

Don’t overlook the tax benefits that can come with a real estate investment, as well. From deductions to depreciation to exemptions, there are many ways a real estate investment can save you money on taxes. Consult a tax professional to discuss your particular circumstances.

These are just a few of the many perks of investing in real estate. But what’s the best strategy to maximize returns on your investment property? In the next section, we explore the differences between long-term and short-term rentals.

 

LONG-TERM (TRADITIONAL) RENTAL MARKET

 

When most people think of owning a rental property, they imagine buying a home and renting it out to tenants to use as their primary residence. Traditionally, investors would use their rental property to generate an additional stream of income while benefiting from the property’s long-term appreciation in value.

In fact, that steady and predictable monthly cash flow is one of the key advantages of owning a long-term rental. And as an owner, you don’t usually have to worry about paying the utility bills or furnishing the property—both of which are typically covered by the tenant. Add to this the fact that traditional tenants translate into less time and effort spent on day-to-day property management, and long-term rentals are an attractive option for many investors.

However, there are also limitations to long-term rentals, which often come down to your ability to control the property. Perhaps the most obvious one is that you do not get to use the home or closely monitor its upkeep (this is different from a short-term rental, which we’ll share in the next section).

In addition, while you can usually generate a steady, predictable income stream with a long-term rental, you are limited in your ability to adjust rent prices based on increasing or seasonal demand. Therefore, you may end up with a lower overall return on your investment. In fact, according to data from Mashvisor, in the 10 hottest real estate markets, short-term rentals produced “significantly higher rental income” than long-term rentals.4

 

SHORT-TERM (VACATION) RENTAL MARKET

 

Short-term rentals are often referred to as vacation rentals, as more and more travelers enjoy the benefits of staying in a home while on vacation. In fact, according to Wells Fargo, vacation rentals are steadily growing and predicted to account for 21% of the worldwide accommodations market by 2020.5

Investing in a short-term rental or funding your second-home purchase by renting it out can offer many benefits. If you purchase an investment property in a top travel destination or vacation spot, you can expect steady demand from travelers while taking advantage of any non-rented periods to enjoy the home yourself. In addition to greater control over how your property is used, you can also adjust your rental price around peak travel demand to maximize your returns.

But short-term rentals also have risks and drawbacks that may dissuade some investors. They require greater day-to-day property management, and owners are typically responsible for furnishing the property, upkeep, and utilities.

And while rental revenue can be higher, it can also be less predictable based on seasonal or consumer travel trends. For example, a lack of snowfall during ski season could mean fewer bookings and lower rental revenue that year.

In addition, laws and limitations on short-term rentals can vary by region. And in some areas, the regulations are in flux as residents and government officials adapt to a new surge in short-term rentals. So make sure you understand any existing or proposed restrictions on rentals in the area where you want to invest.
Urban centers or suburban communities may be more resistant to short-term renters, thus more likely to pass future limitations on use. To lower your risk, you may want to consider properties in resort communities that are accustomed to travelers. We can help you assess the current regulations on short-term rentals in our area. Or if you’re interested in investing in another market, we can refer you to a local agent who can help.

 

WHICH INVESTMENT STRATEGY IS RIGHT FOR YOU?

 

Now that you understand these two real estate investment options, how do you pick the right one for you? It’s helpful to start by clarifying your investment goals.

If your goal is to generate steady, predictable income with less time and effort spent on property management, then a long-term rental may be your best option. Also, if you prefer a less-risky investment with more reliable (but possibly lower) returns, then you may be more comfortable with a long-term rental.

On the other hand, if your goal is to purchase a vacation or second home that you’ll use, and you want to defray some (or all) of the expense, then a short-term rental may be a good option for you. Similarly, if you’re open to taking on more risk and revenue volatility for the possibility of greater investment returns, then a short-term rental may better suit your spirit as an investor.

But sometimes the decision isn’t always so clear-cut. If your goal is to purchase a future retirement home now to hedge against inflation, rising real estate prices, and interest rates, then both long- and short-term rentals could be suitable options. In this case, you’ll want to consider other factors like location, market demand, property type, and your risk tolerance.

 

 

WE CAN HELP WITH PROPERTY INVESTMENT BUYING, SELLING and PROPERTY MANAGEMENT!

 

Nancy Braun owns real estate company, Showcase Realty, as well as Carolina Property Management.  This gives you a full service one-stop-shop option to realize your investment goals! If you’re looking to make a real estate investment—whether it’s a primary residence, investment property, vacation home, or future retirement home—give Nancy Braun a call. Nancy will help you determine the best course of action and share insights and resources to help you make an informed decision.

If you’re an investment property owner interested in hiring a stellar property management company with happy clients, and a great track record, call Nancy Braun today at (704) 550-4854, or visit NancyHasTheTenants.com to get your FREE copy of Nancy Braun’s 5 Ways To Get Top Dollar on Your Rental Property.

Thinking about buying an investment property and want guidance on how to buy or sell your home right now? Get your FREE copy of Nancy’s book, The No Holds Barred guide To Buying and Selling A Home in the Carolinas, visit: ExpertHomeHelp.com

 

 

 

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult the appropriate professionals for advice regarding your individual needs.

 

Sources:
USA Today – 
https://www.usatoday.com/story/money/personalfinance/real-estate/2017/11/11/renting-homes-overtaking-housing-market-heres-why/845474001/
The Globe and Mail – 
https://www.theglobeandmail.com/real-estate/the-market/article-demand-for-rental-housing-in-canada-now-outpacing-home-ownership/
Phocuswright – 
https://www.phocuswright.com/Travel-Research/Research-Updates/2017/US-Private-Accommodation-Market-to-Reach-36B-by-2018
Rented.com – 
https://www.rented.com/vacation-rental-best-practices-blog/do-long-term-rentals-or-short-term-rentals-provide-better-investment-returns/
Turnkey Vacation Rentals – 
https://blog.turnkeyvr.com/short-term-vs-long-term-vacation-rental-properties/

Why NC and SC Rental Property Owners Should Hire A Property Manager | Nancy Braun | Charlotte Today

 

Nancy Braun Explains Why NC and SC Rental Property Owners Should Hire A Property Manager

 

Nancy Braun, owner of Carolina Property Management and real estate brokerage Showcase Realty LLC in Charlotte, NC, shares with WCNC-NBC’s Charlotte Today hosts Colleen Odegaard and Eugene Robinson why it’s important for a property owner of a rental property to consider hiring a property management company.  She covers four main points — vacancy, rental laws, maintenance, and the security deposit.

Property owners invest in rental properties for many reasons.  Some seek to build out their wealth portfolios hoping for a maximum Return On Investment (ROI). Others want to leave a legacy to their children. Some investors are philanthropists, like the community-conscious who invest to improve living conditions in their communities. People relocating away from NC or SC for job or life changes might choose to hold on to their home, and rent it out to it generate an income. No matter their reasons, many property owners choose to handle their rentals on their own if they’re located in the area.  They search for tenants online, usually download a lease template from the Internet, put the security deposit(s) in their bank accounts, and hope for the best. The risks in these scenarios are vast, causing what started out as an investment goal for additional income to become a costly endeavor.

Odegaard asked Braun if a vacant property was one of the primary reasons why a homeowner should consider hiring a property management company.  Braun explained that it was one of the top reasons, and that is why she and her team at Carolina Property Management have thousands of qualified tenants in their database — typically enabling them to lease out client properties within 15 days, and to continue to keep them occupied so the owner does not lose out on income. She also explained that filling vacancies is not the only role that they play since there are many preliminary, on-going, and round robin requirements every rental requires.

As a regulated industry with strict housing laws in place that serve both tenants and landlords, Property Management is very much like buying or selling a house — where trained professional expertise is essential, and a smart choice for landlords. Braun, who holds the Five Star Property Management Certification and is a member of the National Association or Residential Property Managers (NARPM), is also a REALTOR® and lawyer. She explains that landlords are bound by these laws but don’t always know their nuances, “We’re all under the same guidelines. We have to abide by fair housing laws concerning discrimination, the American Disabilities Act (ADA), and so on. Many people don’t know, for instance, that if the home for rent does not allow pets and an applicant states that they have a service dog, they could be in violation of the ADA if they reject that candidate based on that detail — as it’s discriminatory. Also discriminatory, is if landlord asks a prospective tenant how many children they have or how old they are.  It’s a simple thing, but still a discrimination. ”

Certified property managers at Carolina Property Management are experts at ensuring they protect their clients interests, including handling the Landlord’s trust accounts for tenant deposits. Braun explains why this is a critical detail for the correct management of tenant deposits, “Most people not in the industry, don’t realize that the security deposit must be put in a trust account. If it’s not in a trust account, the Landlord might have to forfeit it if the tenant didn’t pay rent or caused damage. The tenant could ask for evidence that the deposit was held in a trust account, and if it wasn’t, the judge will rule in favor of the tenant.”

Ongoing maintenance of the property is another important service where property owners can benefit from using a property management company.  Aside from the convenience for landlords to have a maintenance crew on call 24/7, Braun added, “At Carolina Property Management we use professional service providers that give us competitive bids because of the sheer volume of business we send them — which cuts down costs for the landlord.  We’re at the top of the list for service response time, which makes our clients and their tenants happy.”

Apart from emergency maintenance issues, Braun’s team hold very high standards in ongoing maintenance, “We pay very close attention to the state of the property to ensure that it is always in top condition. If overlooked, they could cost the homeowner more money. For example,  the roof might need to be replaced; or if the paint is peeling we take care of it immediately so that it does not lead to wood rot. We ensure that all smoke and carbon monoxide detectors are always functional, we monitor the filters… there are a lot of minor details that a homeowner might not think about.”

Another aspect to maintaining the property is when preparing to put it on the market for rent.  Braun states that just like a home sale, if a property is showing beautifully, the owner can expect a better quality tenant — who will also continue to maintain the home because they recognize the owners standards.  “I have a tenant moving in at one of my properties, I have deep cleaning going on right now, landscaping — pine needles being put out, tree limbs being trimmed… so that way, when I start out fresh, that tenant’s going to feel that this is a great home, I’m going to maintain it and take care of it because obviously the owner does too.”

Braun also discussed how she works with homeowners who don’t live in the same city or State as their investment properties.  The online component for homeowner and tenants is Carolina Property Management’s state-of-the-art technology. Tenants can go online to fill out maintenance requests and even make their payments. Property owners can log in to access reports, updates, and accountabilities to monitor what is going on at any given time with their properties — from costs to repairs — information that they can share with their accountants for tax purposes. The other benefit to out-of-town or relocated homeowners is the local market knowledge Braun can offer, she explains, “A client who lives in California but who owns a property in Charlotte might not know what our rental rates are. They might be shooting in the dark and rent out the property for $1,000. Well I might be able to get $1,500 because I have the data and the stats. I know neighborhoods, areas — I know what tenants in my market want — making this a huge benefit for the property owner.”

 

Watch Nancy’s full Charlotte Today interview here:

 

 

If you’re an investment property owner interested in hiring a stellar property management company with happy clients, and a great track record, call Nancy Braun today at (704) 550-4854, or visit NancyHasTheTenants.com to get your FREEcopy of Nancy Braun’s 5 Ways To Get Top Dollar on Your Rental Property.

 

Thinking about buying an investment property and want guidance on how to buy or sell your home right now? Get your FREE copy of Nancy’s book, The No Holds Barred guide To Buying and Selling A Home in the Carolinas, visit: ExpertHomeHelp.com

 

Professional Photos Rent North Carolina and South Carolina Homes

Charlotte NC Property Management CompanyProfessional Photos Rent North Carolina and South Carolina homes to gain more exposure and rent faster. There are only a few seconds to grab a potential Renter’s attention online. Professional photos successfully rent homes in the Carolinas – don’t miss that window of opportunity.

Have you ever seen an ad for a rental property and were immediately turned off because of the awful, quickly shot, low-quality pictures? The majority of rental advertising photos online were obviously taken with a cell phone, usually at weird angles, in poorly lit rooms, or of awkward things (toilet seat up, anyone?). In addition, an online ad is usually the first time a prospective Tenant is introduced to a home, so it’s logical to make a good impression. Taking time and putting a little effort into the advertising pictures will help accomplish that goal. Professional photos rent North Carolina and South Carolina homes faster.

 

Professional Photos Rent North Carolina and South Carolina

  • Replace any burned out light bulbs in fixtures and lamps
  • Remove all vehicles from driveways
  • Move garbage cans out of sight
  • Remove all the clutter such as cans, garden tools, pool toys, etc
  • Clean the driveways, sidewalks and patios
  • Prepare the lawn by trimming the grass, taking out died plants and watering the plants
  • If you have a pool, remove the pool sweep, pool cleaning equipment and any pool toys

Interior area:

  • Replace all burned out light bulbs
  • Turn on all interior lights and keep them on during the shooting session
  • Turn ceiling fans and televisions off
  • Remove all the exposed items such as cables, newspapers, kid toys, personal photos, religion symbols, etc
  • Dust and vacuum all the rooms
  • Don’t leave any dirty dishes in the sink
  • Move all the trash cans
  • Clear off the counter-tops
  • Windows, glass doors and mirrors should be cleaned
  • Open the blinds, shades and curtains if there have good views of the neighborhood
  • Fresh flowers can be used to decorate some rooms and fresh fruits to stage the kitchen
  • Throw rugs and runners in entryways, kitchens, and bathrooms should be removed

 

Carolina Property Management in Charlotte Serves North Carolina and South Carolina Property Owners

We know professional photos rent North Carolina and South Carolina homes and offer this service complimentary. Carolina Property Management focuses on Tenant Retention, Efficient Tenant Turnover and Effective Tenant Screening to boost long term profits for landlords. These items all impact a landlords profits and they won’t show on a financial statement.

Carolina Property Management offers Property Management in select NC and SC areas.

Contact us to confirm if we can service and manage your rental property: (704) 550-4854 | Email: Leasing@CarolinasPropertyManagement.com

Carolina Property Management: Hiring A Property Manager Will Save You Money, Not Cost You More

Nancy Braun Talks With WCNC-NBC Charlotte Today How Carolina Property Management Saves Property Owners Money

 

Charlotte, North Carolina (August 3, 2018) — Nancy Braun, owner of Carolina Property Management, has long been known for her expertise in all things real estate.  At last count, her company had over 12,500 renters among its clients-in-waiting. Now, in an interview with Charlotte Today’s Eugene Robinson, Braun tells property owners that hiring a reputable property manager will save them money in the long run.  She dispels myths about costs, and explains the power of efficiency when property owners select the right company to manage their property.

Investing in a rental property or even leasing out a home encourages property owners to believe that they’re building equity through a solid and tangible investment.  Unfortunately, bad experiences with less than proficient property management companies, combined with the myth of wasting money, causes many owners to decide to manage the property themselves and invite tenants in without any real idea of potential pitfalls. Braun has dealt with thousands of scenarios throughout the Carolinas involving every aspect of real estate, including dealing with the challenges of managing homes and investment properties for rental income clients.

Robinson recalls how his 83-year old mother owns properties that she wants to rent out, but does not trust service proficiency or the integrity of property managers, and asks Braun why property owners should hire a property manager.

Braun explains that the key to success is in hiring a reputable property management company with a good track record.  She stresses on how important it is for owners to know that this is the most cost-effective and sensible approach to ensuring a top Return On Investment (ROI).  A property manager oversees the day-to-day operations, marketing, tenant management, leasing, and maintenance of rental properties. “Your mother needs to consider a few essential facts.  It’s probably not safe for her to personally go around collecting rent, or to maintain a property. Also, the tenants will be happier because they will have a more efficient experience by a company whose sole job it is to provide 24-hour service on the property owner’s behalf.”

Braun goes on to explain that if Robinson’s mother used a company like Carolina Property Management, then her tenants will have the ability to make online payments, instead of the inconvenience of mailing a check every month. They can also benefit from instant service through the company’s maintenance portal where they can log on and add their maintenance issues — instead of depending upon the property owner’s schedule or availability.

“We’ve got to remember that a well-maintained property with happy tenants, means that rents can be competitive, payments are made on time, and there is less vacancy time — the home will rent out fast.  When you think about the convenience for both landlord and tenant, it’s not even a cost, but more of a gain,” she says.

Concerning the actual cost of hiring a property management company, Braun explains that prices vary depending on the situation.  “Typically, it’s a nominal fee that could be anywhere between 8 percent to 10 percent of the rent that is collected every month. For example, if Carolina Property Management provides you full service management, and you rent out the property for $1,000 a month, you pay us $100 every month to take those midnight calls, maintain the property, drive by to check up on the condition, personally visit and inspect the property, ensure that smoke and carbon monoxide detectors are fully functional at all times, and so on.  Careful care like this ensures the longevity of the property with ongoing maintenance, and gives the owner — and their tenants — peace of mind.”

The challenge of finding the right property manager for most owners makes them shy away from hiring a company to help them.  Braun believes owners should research companies online by looking at reviews, ask about vacancy rates, experience, and especially if they are full service.  “I find that owners are more concerned with the fee than the quality of service they need to receive for their specific needs,” says Braun. “There is a vast difference among property management service and quality.  It’s better to ask what they are going to do, than how much they charge. For example, a limited service discount property manager will give them a discount version of services — which might not include diligent maintenance, etc.  Everything costs money, but in this case, it’s so nominal.”

In property management, a company’s ability to ensure the home is occupied 100 percent of the time, is important.  The longer a property is vacant, the more income the owner loses — for example, if the rent was $1,000 a month, and it takes two months to lease out the property, the owner loses $2,000.  When considering hiring a property management company, Braun says owners should ask about turnover rates, how long it will take to lease the property, and what kind of track record they have with quick occupancy.

“If, for example, it takes 15 days to get a property leased, and it can be done before the tenant moves out, then it’s ideal so the owner does not lose out on rent.  At Carolina Property Management, we build in to our lease agreements that the tenants agree to showings 60 days prior to the termination of their lease agreement. More often that not, we always have a ready tenant who moves right in when the previous tenant moves out. Zero days of vacancy!”

In conclusion, Braun stresses on the importance of shared goals and vision between property owner and property manager.  She stated that it’s important to her to work with owners who care for their properties and who prefer to work together with her to put the investment property to work at its optimal level.  “If they’re trying to cut corners and not spend the money, I might not be the right fit. I had a scenario where the owner didn’t want to deal with the mold issue in the house, and I had to end the relationship because the tenant was in there, and so it wasn’t a good fit.”

Watch the full episode here:

If you’re an investment property owner interested in hiring a stellar property management company with happy clients, and a great track record, call Nancy Braun today at (704) 550-4854, or visit NancyHasTheTenants.com to get your FREE copy of Nancy Braun’s 5 Ways To Get Top Dollar on Your Rental Property.

Thinking about buying an investment property and want guidance on how to buy or sell your home right now? Get your FREE copy of Nancy’s book, The No Holds Barred guide To Buying and Selling A Home in the Carolinas, visit: ExpertHomeHelp.com

 

About Nancy Braun: A lawyer and entrepreneur, Nancy Braun is a certified property manager and runs a team of property management experts at Carolina Property Management LLC; and also owns award-winning real estate company, Showcase Realty LLC. Nancy has been in the real estate industry for more than 23 years. An award-winning real estate agent, Nancy has sold thousands of homes in the Carolinas — assisting home sellers sell for top dollar, and home buyers realize the American dream of home ownership. She often offers her expertise to real estate audiences through TV appearances, podcasts, articles, blogs and more.

About Carolina Property Management: Carolina Property Management LLC in Charlotte, serves property owners in North Carolina and South Carolina with their property management needs. The company is known for its unique management system and top-of-the-line technology for property owners and tenants to have a hassle-free experience with professionalism, efficiency and ease. Visit www.CarolinasPropertyManagement.com for more information.

Get Professional Property Management Expertise in the Carolinas

Experience a higher level of property management services from Carolina Property Management of Charlotte, NC.

We lease our properties in just 20 days on average – 26% FASTER that our competitors!

Get Professional Property Management Expertise in NC and SC

 

Here are just some of the services we provide –

MARKETING:

  • For Lease signage
  • Internet listings on syndication websites (Zillow, Trulia, Realtor.com RealRentals, HomeFinder, HotPads, Trovit, Rent.com, LiveLovely, ApartmentFinder, etc) as well as our own
  • Advertising online and in print
  • On Newsletters and Email Marketing
  • Broadcast email to the real estate community

LEASING:

  • Property valuation and rent setting assistance
  • Applicant screenings with Owner’s final approval
  • Property showings with RENTLY boxes for properties to get shown immediately
  • Legally compliant leases
  • Lease renewals
  • Tenant evictions and move outs
  • Rent collection

REPAIRS AND MAINTENANCE:

  • Prompt communication with Owner
  • Negotiations with vendors
  • Property inspections
  • Property maintenance
  • Clean outs after tenant move
  • Outside area professional care and landscaping

GENERAL:

  • Preferred method of communication with Owner
  • 24/7 availability to Owner and for on site emergencies
  • Website with 24/7 Online Pay for tenants
  • Members of The North Carolina Association of REALTORSⓇ

We currently have thousands of prospective tenants in our database waiting for a rental home like yours.

Contact us to learn more!

Call 704-440-0007 or visit CarolinasPropertyManagement.com today!

Population Boom in Charlotte Shows No Signs of Slowing

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As one of the fastest-growing cities in the U.S., Charlotte, NC continues to attract new residents and travelers each day, with no signs of slowing in the foreseeable future.  There are continuous expansions to existing Charlotte neighborhoods, to include residential and commercial developments, as well as an expansion to Concourse A North at the Charlotte Douglas International Airport, which is now considered the 5th busiest airport in the nation.

With a robust economy, Charlotte’s job growth rate is at 3.5% with a future growth rate of 42.29%, much higher than the current national job growth average of 1.59% and future growth of $37.98%.  It makes sense, then, that the population is expected to continue to where Charlotte may surpass its current population of 2.4 million to upwards of 2.8 million residents by 2025 in the greater metro area, and from 827.00 to at least 1.2 million within Charlotte’s city limits.

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Residential Properties in Charlotte, NC

Already in 2017, there are over 900 Charlotte homes for rent, to account for the growing trend of urban living spreading across all major metropolitan areas around the U.S.  Among the most popular Charlotte neighborhoods for renters, South End remains on top, where Pollack Shores will be building 350 new apartments in South End set for 2018.  Some of the other developments around Charlotte include Lennar Multifamily’s plans for two residential buildings in Uptown and Northwood Ravin’s high-rise on Stonewall Street.

Interestingly enough, the two segments of the population contributing a majority of growth in Charlotte are the baby boomers and millennials, who all want to live within walking distance of where they work and also have easy access to the rest of the city’s many activities, events, and places to eat or shop.  Charlotte remains on the top 20 list of cities where the most baby boomers will retire, and ranks 8th among major cities where millennials live.

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The types of homes for sale in Charlotte also reflect the needs of this crowd.  Baby boomers are most likely inclined to downsize to smaller dwellings if continuing to live independently past retire, or else many more of them are moving in with relatives and require more space, which often means taking advantage of new home construction, or moving into existing homes with layouts conducive to their needs or those which can more easily be renovated.

Millennials, on the other hand, are most often looking for older homes for sale in Charlotte, to take advantage of their affordability and available yard space for entertaining as their top preferences when planning to purchase their first home.

Now is a Great Time to Come to Charlotte!

Whether you are moving to the area and would like more information on Charlotte homes or rental properties for sale, or are looking to make an investment purchase to add to your portfolio, give Showcase Realty a call at 704-997-3794 to get started today.  We’re sure to help you find exactly what you need, and we look forward to serving you!

When Is The Best Time To List Your Charlotte NC Rental Property?

best time to list rental property, North Carolina Homes for Rent,Estate agents in Charlotte,property manager,real property management,NC Realtors, Showcase RealtyIf you own an investment of rental property in Charlotte, chances are you will have a tenant signing a lease fairly quickly, especially if you use the services of a reputable property management company like Showcase Property Management with pre-screened tenants in waiting. Here are some facts on why now is the perfect time to put it on the rental market:

1. Charlotte is one of the fastest growing cities in the United States

As one of the fastest-growing cities in the U.S., Charlotte, NC continues to attract new residents and travelers each day, with no signs of slowing in the foreseeable future.  There are continuous expansions to existing Charlotte neighborhoods, to include residential and commercial developments, as well as an expansion to Concourse A North at the Charlotte Douglas International Airport, which is now considered the 5th busiest airport in the nation.

2. Charlotte enjoys a robust economy with continuous job growth

With a robust economy, Charlotte’s job growth rate is at 3.5% with a future growth rate of 42.29%, much higher than the current national job growth average of 1.59% and future growth of $37.98%.  It makes sense, then, that the population is expected to continue to where Charlotte may surpass its current population of 2.4 million to upwards of 2.8 million residents by 2025 in the greater metro area, and from 827.00 to at least 1.2 million within Charlotte’s city limits.

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3. South End, Pollack Shores, Uptown and other Charlotte neighborhoods are top rental markets

Already in 2017, there are over 900 Charlotte homes for rent, to account for the growing trend of urban living spreading across all major metropolitan areas around the U.S.  Among the most popular Charlotte neighborhoods for renters, South End remains on top, where Pollack Shores will be building 350 new apartments in South End set for 2018.  Some of the other developments around Charlotte include Lennar Multifamily’s plans for two residential buildings in Uptown and Northwood Ravin’s high-rise on Stonewall Street.

4. Baby Boomers and Millennials rent homes near work and entertainment

Interestingly enough, the two segments of the population contributing a majority of growth in Charlotte are the baby boomers and millennials, who all want to live within walking distance of where they work and also have easy access to the rest of the city’s many activities, events, and places to eat or shop.  Charlotte remains on the top 20 list of cities where the most baby boomers will retire, and ranks 8th among major cities where millennials live.

5. Lifestyle changes are encouraging more rental choices

The types of homes for sale in Charlotte also reflect the needs of this crowd.  Baby boomers are most likely inclined to downsize to smaller dwellings if continuing to live independently past retire, or else many more of them are moving in with relatives and require more space, which often means taking advantage of new home construction, or moving into existing homes with layouts conducive to their needs or those which can more easily be renovated.  Millennials, on the other hand, are most often looking for older homes for sale in Charlotte, to take advantage of their affordability and available yard space for entertaining as their top preferences when planning to purchase their first home.

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Now is the time to rent out your Charlotte home

As the data shows, now is the right time to rent out your Charlotte investment property or residence. To get your property in front of the right tenants, use Showcase Property Management. We have hundreds of qualified tenants waiting to rent out your home, and we will take care of all the details so you can build wealth and enjoy a return on investment from your rental property with ease of mind.  Our reputation with homeowners needing expert support is second to none.  From pre-screening to maintenance, we take care of business.

For more information on Charlotte property management or to buy an investment home for sale to add to your portfolio, give Showcase Realty a call at 704-997-3794 to get started today.  We have got the expertise you need to make a solid investment.

Benefits Of Hiring A Property Management Company In South Carolina

Benefits Of Hiring A Property Management Company In South Carolina

As a property management company, we have managed hundreds of rental homes for homeowners in South Carolina and North Carolina.

There are many aspects you should consider when hiring the right company to manage your rental for a valuable Return On Investment (ROI). The two most essential are a good track record on:

1. Knowing state laws; and

2. Securing the right tenants for clients

It’s a smart move to hire professionals trained and certified in the business to protect your interests; it’s also a safety measure to protect your investment and increase the value of your property.

Here are other top benefits to hiring a property management company to manage your home in the Carolinas:

Get Quality Tenants
A reliable and experienced property management company in South Carolina will have seen thousands of tenant applications in the past and will know how to identify good and potentially bad tenants. They will be able to recognize any warning signs in applications and protect you from any rental scams and discrimination lawsuits, which are a result of inconsistent screening processes.

Benefits Of Hiring A Property Management Company In South Carolina

Few Legal Problems
There may be some legal issues that arise with tenants; your property manager will have the knowledge to deal with any issues appropriately and effectively for you. Each manager should be fully aware of the latest landlord-tenant laws in each municipality and they will ensure that you are not left vulnerable in a potential lawsuit.

Each state or municipality has their own laws covered and these along with federal laws include but are not limited to:

Tenant screening
Rent collection
Lease addendums
Terminating leases
Handling security deposits
Inspections
Evictions
Safety and property conditions of the property

Shorter Vacancy Periods
With a property management company in South Carolina, you won’t have to worry about long or frequent vacancy periods for your rental property. If you’re looking for new renters, a property manager will provide suggestions for improving the property, as well as helping you to decide on an attractive and fair rental rate.  Property management companies will effectively market your property when there is vacancy, so you can quickly find new tenants to fill your home.

Tenant Retention
Tenant turnover can be a very long process if not handled properly. Tenant turnover includes tasks like installing new locks, cleaning the home, staging it and showing it again—an experienced property management company will have a smooth turnover system that gets tasks done quickly and effectively so that your new tenants can move in as soon as possible.

Look for a management company that has a good tenant retention policy that ensures your tenants stay for a very long time.

Benefits Of Hiring A Property Management Company In South Carolina

Rent Collection Process
It is very important that your tenants understand what is expected of them and that they know your rent dues are non-negotiable. Your property management team will serve as a middleman between you and your tenants. Your property manager can take care of conversations with your tenants, follow up on rent and even handle evictions if you need them to.

Without a property management team, you tenants might try to take advantage of you and your property. Property managers know your rights and will be able to protect you from these problems. They will also be aware of eviction laws and will take the steps necessary to protect you and your property if eviction becomes a possibility.

Increase Property Value
To maintain or even increase the value of your property, a good property management company in South Carolina will consistently perform maintenance checks on your home. These checks will help them to locate any maintenance or repair issues early, before they become worse or unmanageable in the future. They will also be able to recognize where certain areas of the home could be upgraded, and suggest modifications that will increase the property’s value for the future.

At Showcase Property Management, our experienced team is licensed to serve homeowners in North Carolina and South Carolina.  We can assist you with your rental business success for years to come! Do you have any homes for rent that you would like us to manage? We have hundreds of tenants looking for a home just like yours. Please don’t hesitate to contact us today at 704.997.3794 or send us a message here!