Many people looking to rent believe that it is easier to find a rental during the winter months. The thought is that fewer people are going to be moving around the end of the year, which means that any apartments that have been left from the summer and fall will not be picked up around the holidays.. While this seems logical, is there actually any truth to it? Actually, according to a study done by RentHop.com, there most certainly is. The study followed the average rent of a one bedroom apartment in ten different large areas. The results showed that from November through to April, there was a significant decrease in the amount of rent paid in every single city they checked. Even New York City, which is widely regarded as the most rented out city in the country had a difference of around $140 a month. When you take into consideration the fact that rent in New York City is some of the highest in the country no matter when or where in the city you look, this is an incredible piece of information. Each of the other cities followed suit to varying degrees. There were few exceptions in this study, however Charlotte, NC was one of them. Interestingly enough, the rentals in your area don't follow this pattern. While the rent was calculated at the highest in August, the second highest month was January. November was actually the cheapest month on average to move to Charlotte, followed by December. There is actually a two and a half percent increase in rental prices between December and January. Unfortunately we don't really have any reason why this occurred in North Carolina. As property owners in this state, you may have noticed the trend yourself. This may be due to the milder weather seen in your area as opposed to other locations, but even Miami, FL and Atlanta, GA followed this pattern. Knowing this, however, you can adjust your rent appropriately. You may also just want to wait a month or so for someone to come to check out your apartment. Ask around and see if anyone else has noticed this and what they do about it. Sometimes things are just different in some places and there's nothing we can do about it.
This year more than most, we have seen some horrible natural disasters. We have also seen some pretty terrible man made ones as well, however it is often scarier to think about what nature can do to us if it does so choose. Hurricanes like those we have seen this season are supposedly rare, however we had two or three back to back with the season still not technically over. What can you, as a property owner, do to help your tenants prepare for situations like these? Here are a few ideas for you to think about in regards to being well prepared. 1. Have An Escape Plan. Whether you are talking about a state evacuation plan or simply how to easily get out of the apartment, you should always encourage your tenant to have an escape plan. Things like fires can happen in the blink of an eye and it can be difficult to think in the moment if you have not prepared for it. Although in an emergency like a fire there is nothing you can do to help your tenant, it certainly doesn't hurt to have them think about what they can do if these things were to occur. 2. Have an Emergency Kit. One of my friends who has a few rental properties always includes an emergency kit when a new tenant moves in. This consists of extra batteries, a hand powered radio, a first aid kit, emergency numbers, and a few other things. While none of them have ever been needed, thankfully, most tenants take them along when they move due to how important having these things on hand is. Many landlords like to give their tenants moving in a small gift, but something like this is often far more appreciated than anything else due to its practical nature. Having these kits also may help the tenant to think of what they will need to purchase if they leave it when they move. We never want to think about what we would do in an emergency, but it is something that really does need to be considered. Having a plan is half of the battle when it comes to keeping yourself and your loved ones safe. These are only two ideas to help you prepare for these disasters, but they are a good place to start.
Now that the holidays are upon us, there are a few very serious points we want to touch on. According to the Red Cross, almost 47,000 fires occur during the holiday season and claim around 500 lives each year. There are also around 2,200 injuries from these fires and they end up costing around $554 million in damages. This is something that happens every year and we all need to do our best to ensure that these numbers go down. Some of you may have heard about the large fire in Cambridge, MA that occurred only a little while ago. Unfortunately, around this time of year that is not an uncommon headline. The Red Cross states that candle fires are four times more likely to happen during the winter holiday season. Always be sure to keep an eye on any candles that may be burning and never leave them unattended, even for a second. If you are leaving the room, be sure to blow them out and the second you start to feel drowsy from all the food or eggnog, make sure they are all extinguished. Also, never let kids play with fire, matches, lighters, or candles. An average of 40 house fires a day are caused by children playing unsupervised. The Red Cross suggests making sure that any decorations are placed at least three feet away from any open flame or radiator. If you have a real tree, be sure to keep good care of it, as on average, one out of every 22 fires that start because of a tree result in at least one death. Make sure they are kept watered and the needles are nice and green. Make sure that any lights you use are in good condition and that the wires are properly insulated. Never use live candles to decorate a tree, as again they are very flammable. Make sure that your tree, real or fake, is kept in a solid stand that will prevent it from tipping over. Keep children and pets away from the tree to help reduce the risk of damage and fire. Always turn off or unplug all lights before you leave home or go to bed as well. Most importantly, make sure your smoke detectors are working correctly! They can reduce your risk of fire related death by half. The holidays are a wonderful time of the year, however they can also be dangerous. Please keep these safety tips in mind to keep your season from turning into something you'd rather forget.
With how much money is often spent by landlords, one of the most common questions we get is, "Why should I pay you to do something I can do myself". We concede that this is a great question and that using our company and services may not be right for every person. However, we also know what it is like to be a single person out on your own trying to work everything out yourself. Sometimes you just need a little help, and that is exactly what those of us here at Talley mean to do. Having a property management company is mostly meant to help you in the long run. While you may think that you can handle all of the issues on your own, it can quickly become overwhelming when you have multiple people trying to send you rent money, call for repairs, ask about your policies, and send in complaints about other people who live in the complex. While we fully understand that you are more than capable of dealing with this on your own, we also understand that you are only one person and you probably want to spend time with your family and friends and not have your entire waking life filled with other people's problems. Here at Talley, we can actually take care of most of the things you need done. We can help you collect your rent, fill out monthly statements for your residents, and do any number of other balancing acts of accounting that you need done. We also help to provide you and your residents with 24 hour maintenance by using local contractors and will get your apartment move-in ready with painters, cleaning, and anything else you need. Lastly, we are the ones that will mostly deal with your tenants from screening and selection to the time they move out. We will also deal with evictions if a tenant of yours ever causes that to occur. At the end of the day, having Talley on your side is meant to help put your mind at ease. We know how stressful it can be having your property inhabited by someone else, so we want to do everything we can help you feel more relaxed. Call us today and see just how much we can do for you and your residents.
One thing that Americans love almost as much as baseball and apple pie is their pets. If you have a pet of your own, you will know exactly what I mean. How often do we hear of young children wanting a puppy or a kitten for Christmas? While kids may not always have the best or most reasonable wishes when it comes to presents, most parents can get them a small animal. This can also double as a lesson in responsibility by having the child take care of the animal. I know that the rules for my first animal had to do with feeding it and cleaning up after it. I can also tell you that some of my best memories come from my time spent with that first pet. While it is true that I am a bit bias on this subject, I completely understand landlords that do not want to allow pets in their rental property. Pets can be very messy, especially if their owners don't stay on top of making sure everything is cleaned and well maintained. Property owners with carpet also have an extra concern with pet stains and claws that can cause the rug to need replacing, which is an extremely expensive process if done correctly. Animals can tend to smell if they are not taken care of, and this is true whether they are in a cage or if they are given free rein in the apartment. While a responsible pet owner will not allow this to happen, there are far too many people who have pets that are a bit less than fully responsible. At the end of the day, whether or not you allow a pet is up to you as the owner of the property. Some landlords will only allow certain kinds of pets, like fish or lizards. Others will only allow pets that stay strictly indoors, such as anything in a cage or indoor cats. Even still, other people will only allow animals under a certain weight and size in their apartments. The fact is that you have the decision about whether or not you will let your residents get an animal. You may even request a waiting period so that you can see what kind of resident they are before making that decision. As long as you are upfront about the policy you have, everything should work out fine.
Most rental properties will either provide or give the information needed for trash pickup and removal from the area. This is something that is heavily necessary as pretty much every human creates some amount of trash. Even things like food packages can pile up after a while and cause quite a stench. If you have ever walked into a house that was left vacant for a while without being cleaned out first or even just caught a whiff of an industrial sized garbage can you will know exactly what we are talking about. One main issue that can be found among many apartment complexes, however, is the fact that not all of them offer recycling as well. Personally, I always check to see if a complex that I am thinking of moving into has recycling. Humans, especially Americans, produce a lot of waste that can be recycled such as glass, cardboard and other forms of paper, and especially plastic. While these things make our lives extremely convenient, they are horrible for the environment. In fact, according to the South Carolina Department of Natural Resources, a plastic bag will take around 450 years to decompose, glass will take at least a million years to fully break down, and Styrofoam never will. When you think about what you throw out in a single week, this fact may become extremely frightening. Thankfully we do have an alternative, however, in recycling companies. Not only is recycling good for the environment, but it also makes up around 3.1 million jobs in the United States! While it may cost you a little more to get a recycling bin in your complex or rental property, when you think about what it provides other people and animals with it really does seem more than worth it to most people. Having a recycling company service your apartment complex really is one of the best things you can do to help your local community. Post a survey for the people who live in your area to see if it would be well received and heavily used if you are currently on the fence about it. Informing your residents about why you are offering a recycling bin as well may help boost those numbers if you really want to help make a difference. Get some quotes and see what you can do to get a recycling company in today!
We often see on listings that a landlord will only sign a lease if it is a year or longer. While there are certain benefits that obviously exist for this setup, sometimes another option is perfectly acceptable to explore. Having a lease that is less than a year, or even simply month to month, may actually work out in your favor depending on the situation you find yourself in with your rental property. Let me show you what I mean. With a month to month lease, you are able to have a bit more flexibility if you are not a fan of who ends up moving into your rental property. While this shouldn't be the main reason for you doing a lease in this way, it is certainly something to think about. The main draw that most people find with a month to month lease is mostly dependent upon the location of the rental property. If you are located in a large vacation area, then having a lease that is only a month at a time will allow you to charge a little bit of a higher rent for those peak months as opposed to one flat rate for the entire year. You can find tourists and others who are looking to take an extended vacation quite easily and they are normally willing to pay a little extra than those who are looking to move in for a full year. Another great thing about having a month to month type lease is that your tenant can let you know ahead of time how long they expect to stay. If their work is bringing them to this area for six months, then you can be sure to keep someone in your space for that time. It gives you a set time frame for when you need to bring someone else in and start showing it to other people. It's also fairly common that someone will look for an apartment for longer stays like this as not many people like to stay in a hotel for that long. If you are debating between having year or longer leases or going month to month, then ask around and see what other people have experienced. Try it for yourself too. You never know what you may find that you like until you try it.
One of the most invaluable services that you can get as a landlord is a good maintenance crew. This is true whether you have a small building of apartments or an entire complex. Having someone to cut the grass, rake the leaves, clean up the common areas, and generally help out around the building is something that can be difficult to find and even more difficult to replace. While you may save some money by doing a lot of it yourself, you will probably spend more when you think about the extra time you need to spend away from family and friends along with the materials you may need to purchase to do an effective job by yourself. One of the best things that you can do in order to get a good maintenance person or crew is to ask around. Other landlords may use a group of people or even a person who is just looking for some extra money who does great work. Getting in contact with some friends that may know someone is one of our favorite places to start. It is always good to be able to speak with someone who has seen the person work as well so you can get truthful answers to any questions you may have. Another thing you should do if you are looking for maintenance help is look around at local companies that specialize in plumbing or electrical work. Most maintenance workers will not have specialties like this and you will need one or both of these categories of work eventually. Making connections early is a great way to have a solid working relationship so it is never too early to ask around. If this seems like too much stress, which we completely understand, then just call Talley. After all, one of the services we offer is 24/7 maintenance care to any residences we work for. All of our workers are pre-screened and have all of the proper certifications and insurance so you can rest assured that the person that is coming into your property knows what they are doing and can do it well. We know how much of a headache getting someone new into your rental property can be, so let us help you out by sending out someone who can make that headache go away.