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Latest Blogs

Ways to Attract Tenants - Charlotte Property Management

Ways to Attract Tenants - Charlotte Property Management

Renting out your extra space is a fantastic way to earn some extra money. It’s a great source of passive income for those who already have their hands full with their lives and their careers. Online platforms have made it so easy to advertise yourself and start booking tenants within minutes.

But what if you’ve never done this before? How do you go about advertising your space and attracting tenants? Believe it or not, there are other people just like you who are renting out their space. They seem to be attracting quite a bit of attention, and you’re starting to feel like you might not have anything to offer. But that couldn’t be further from the truth! Your space is valuable and profitable, and we’ll walk through some ways you can attract potential tenants.

First things first, understand that you can’t always change the space you’re working with. You may remodel, redecorate, and update the space with flashy amenities, but that can get expensive, and there are some things that are out of your control. Learn to love what you currently have to offer. What makes you stand out from the other offerings currently on the market? What do you bring to the table that others cannot? Every space is unique. Highlight the positive aspects, and accentuate the benefits of your space.

Once you’ve identified your standout qualities, compose a quality listing. A well-written, detailed listing with stellar photos will instantly attract attention, whether online or printed on physical flyers for handout. As people start to show interest, be sure to schedule individual walkthroughs and property showings. This gives you a chance to address any questions or concerns in a one-on-one setting.

Of course, walkthroughs involve a fair amount of scrutiny from potential tenants. Be sure to put your best foot forward: clean house, attractive decorations, relaxed and easygoing atmosphere, operational appliances and utilities, etc. This is your chance to elaborate on everything that you might not have put on the listing. Show off your knowledge of the house, the property, and the surrounding community. Once again, highlight all the best features and amenities, especially hose included with the house, such as pool or gym access.

In the end, it’s all about perception. While you should never deceive or over-promise, you should do everything in your power to make your space appear desirable. A highly desirable space will stand out from its peers and catch the eye of potential tenants. Follow these tips to get started on the path to consistent passive income!

Hot Neighborhoods in Charlotte - Charlotte Property Management

Hot Neighborhoods in Charlotte - Charlotte Property Management

With so many wonderful opportunities cropping up, there has never been a better time to live in the Charlotte area. Whether you want to live close to the action in the very heart of the city or you want to stick to the outskirts, there’s a place for everyone. The theme for this list is diversity, which should present plenty of options for the influx of people migrating to the Queen City. Thinking about moving? Or perhaps you’re a local who simply wants to know more about your surroundings? Whatever your purpose, here is a list of some of the hottest neighborhoods in the Charlotte area.

  • Beginning in the very heart of the city, this neighborhood needs no introduction. Home to tall skyscrapers and corporate headquarters, this district is also home to around 30,000 people. The shops, restaurants, cultural activities, and nightlife attract many buyers. Will you be one to call Uptown your home?
  • Fourth Ward. Contrary to soaring buildings and busy streets of Uptown, the Fourth Ward offers quiet streets and charming homes. The neighborhood underwent revitalization in the 1970s, and it is now experiencing a social and economic boom. The Fourth Ward might be ideal for those who want to experience Uptown without living in the center of the action. Uptown is within walking distance of many of the homes.
  • University City. Even if you’re not a student at the University of North Carolina at Charlotte, you can still reap the benefits that come with the area. University City is surrounded by the UNCC campus. While not particularly close to Uptown, this neighborhood offers its own selection of shops, restaurants, and venues. If you still want to visit Uptown, the two neighborhoods are linked by the city’s light rail system.
  • An abbreviation for North Davidson, NoDa has become synonymous with the arts. Galleries and live music events are commonplace in this district, as is the atmosphere of joy and community. NoDa is made all the more popular by its proximity to the Uptown area. If you’re seeking a place to connect and cut loose, this neighborhood might be just the place you’re looking for.

Needless to say, Charlotte has a lot going on. The diversity in culture, history, and current social landscape is staggering. Charlotte has often been described as many smaller cities within one large city. With this in mind, perhaps you’ll find your ideal neighborhood as you navigate the Queen City!

How Cold Weather Impacts Homes - Charlotte Property Management

How Cold Weather Impacts Homes - Charlotte Property Management

As we inch ever closer to the end of the year, the mild fall weather will give way to bitter cold and possible winter precipitation. But even as we begin to spend more of our time indoors and take refuge from the cold, how are our homes being affected by the winter weather? It’s important to be aware of possible adverse effects and practice preventative measures to keep your home as weatherproof as possible.

First, outdoor cold will naturally lower the temperature of your home. Nobody likes to feel cold in their own home. We go inside to escape the elements and regulate our atmosphere. As the cold lowers the temperature indoors, residents will want to increase the temperature. Thermostats, heaters, and even fireplaces will have to use more energy to battle the dropping temperatures. More energy means more money spent. During the winter, energy and electric bills can see a sharp increase as people prioritize comfort. This coming winter, save some money by lowering the thermostat a few degrees, or monitor your appliances to limit the electricity used by a fireplace or heater. As you spend time in your home, battle the cold and save money by wearing heavier clothing or using blankets.

Second, cold weather can have potentially disastrous effects on water pipes. If left exposed or unprotected, the water that flows through the pipes will begin to freeze. Water is much more dense than solid ice, meaning the same amount of liquid water will take up less space than it would in its solid state. In other words, water expands as it freezes. This process of freezing and expanding can cause pipes to buckle or burst from the inside. The last thing you want is to spend money repairing damages caused by a broken water pipe. This issue can be prevented by using insulated pipes, or you could even let your faucets drip to keep the pipes from stagnating.

Finally, the winter precipitation that comes with cold weather can have a negative effect on the exterior of your house. Snow, sleet, and hail are not exactly gentle. Be sure that the outdoor materials are weatherproof and can stand the rough treatment that comes with colder temperatures. Also be sure that these materials are energy efficient, able to trap and hold heat inside the house.

As the weather turns colder, start thinking ahead. Save time and money by following the tips above; you and your home will stay warm all winter long. Follow Talley Properties for more tips and tricks on how to save money and add value to your home.

Fall Moving - 5 Things to Consider - Charlotte Property Management

Fall Moving - 5 Things to Consider - Charlotte Property Management

Moving is a stressful process. You’re always keeping track of where things are going, when things are going, and getting settled in at your new place while making sure the old place is properly cared for. Not only that, but it’s important to consider when and at what time of year the move is happening. As we head into fall, there are several things that homeowners should be aware of if their move-in date happens to fall between October and December. Here’s a quick list for those of you who are in the midst of transition and those who are still considering their options:

  1. Fall is cheaper. Believe it or not, summer is one of the most popular times to move homes. As kids get out of school and families take time off from work, it’s a natural time of transition. After the summer rush dies down, moving companies and rental trucks are no longer in high demand. This means increased availability, greater flexibility, and more options and opportunity to compare prices. Spend some time finding the best deals on moving essentials.
  2. School calendars vary. If you have students who attend public school, be sure to keep an eye on the calendar for your new school district. The different districts often have separate schedules that don’t align exactly, so be certain you know which one your family falls under and get plugged in.
  3. Double-check utilities Be sure that the utilities are connected and activated by the time you arrive on moving day. Light is essential, but heat is also critical during the chilly fall days and cold nights. You don’t want to spend the first few nights in your new house freezing or huddled around a fireplace for warmth.
  4. Unpack and declutter As you pack, try to prepare for the season ahead. Be sure that your fall clothing and accessories are easily accessible so that they can be unpacked first. Take this opportunity to declutter what you won’t need, especially the things that have accumulated in your home and closet over the summer.
  5. Protect your flooring. Fall weather brings rain and mud, both of which often hitch a ride on our shoes and end up inside our homes. At the very least, you and your family could track in fallen leaves. Protect your brand-new flooring with plastic, cardboard, or floor mats.

While summer may be the most convenient time to move houses, fall certainly has its benefits. It’s cheaper and easier to find a moving option, and it gives you an opportunity to downsize and declutter. Just be sure to follow these tips and avoid some of the pitfalls that come with this time of year. Follow Talley Properties for more on property management and housing.

Influences on Rent - Charlotte Property Management

Influences on Rent - Charlotte Property Management

You’re a landlord who’s looking to rent out your space. Everything is set up and ready, but you need to settle on a price. How much should you charge? That’s a tough question, one that will vary depending on several factors. So, what are some of the factors that dictate price point? Here’s a list of the things you need to consider as you work through this process.

  • Square footage. This is a no-brainer. If you’re offering plenty of space, especially compared to similar local rental properties, the tenants will have a higher rental fee. Additional bedrooms and bathrooms are a dealbreaker for many prospective clients, so people will likely be willing to pay more for the extra space.
  • Storage. Storage is especially important for those who want a long-term rental. An abundance of closets, shelves, and cabinets will add value to the space. Otherwise, tenants will have to rent an additional storage facility from a third party, making them less likely to pay a premium for your space. If, on the other hand, you have plenty of available storage options, be sure to highlight the advantages and factor that into your asking price.
  • Amenities and appliances. Many rentals include access to appliances and special amenities. Are the refrigerator, stovetop, and oven sufficient in serving their purposes? Have they been recently upgraded with new and noteworthy features? Does the space have efficient heating and air conditioning? Do tenants have access to a pool or any other recreational facilities? Consider these questions and carefully weigh your answers as you determine an appropriate price point.
  • Location. The most expensive rental properties are typically central to a major city or town, close to shopping and entertainment. The further one has to drive to get from the rental to their preferred activities, the less they will be willing to pay. Of course, a different tenant might enjoy the solitude of being removed from the hustle and bustle of city life. You can accentuate the positives in almost any area, as long as it is clean and safe. Try marketing your location differently to attract different clients.
  • Cleanliness and maintenance. This was discussed briefly in the previous point, but a welcoming and well-maintained property will always dictate a higher rental fee. Put some effort into making the place look clean and attractive. As a landlord, it’s largely your responsibility to ensure the tenants are satisfied with the accommodations. Often, this includes looking after utilities and performing regular maintenance checks.
  • Parking. Whether long-term or short-term, every tenant needs a place to park their car(s) during their stay. An abundance of convenient parking will certainly attract clients, but it’s more likely that the lack of such accommodations will hurt your chances at dictating a higher price. Occasionally this is unavoidable given the location of your property, but do your best to make arrangements and be sure to give potential clients every possible opportunity.
Remember, the bigger, better, and more you have to offer your tenants, the higher they will be willing to go in rental fees. Keep these points in mind as you settle on a decision. Try it out and adjust your demands as needed. Ultimately, it’s up to you to negotiate a price that everyone is satisfied with.

Latest News

Charlotte fastest growing city over last 10 years

Charlotte fastest growing city over last 10 years

CHARLOTTE, N.C. — Charlotte was the fastest growing city in the last decade. New numbers from the Census Bureau show the urban area grew 65 percent from 2000 to 2010. The next fastest growing urban area was Austin, Texas at 51 percent.Las Vegas came in third at 43 percent. To put that in perspective, the country’s entire urban population grew 12 percent during the same time. The state of North Carolina ranks second in the nation for largest rural populations with 3,233,727. Texas came in first with 3,847,522 people and Pennsylvania came in third with 2,711,092 residents.

 

See more @ http://www.wsoctv.com/news/news/local/charlotte-fastest-growing-city-over-last-10-years/nLfBM/

Talley Properties Announces Opening of New Facility

Talley Properties Announces Opening of New Facility

Charlotte—Talley Properties Inc., a property management firm serving the Charlotte area real estate market has announced their move to a new facility 2716 Westport Road. The move will be official March 23rd.
The brick, 2-story 7300 square foot building is situated on an acre plot and includes 5000 sq feet of office space and a 2300 sq. foot warehouse. It was built in 1998 and served as a corporate office for a local builder.

According to owner and President Tony Moore, "Talley Properties has experienced tremendous growth since 2004. We feel this new office will provide us with a stable location to continue to serve our existing clients while giving us room to continue to grow and expand our services." Moore received his BS in Management and Production Sciences from UNC Wilmington. A native of Lincolnton, he now resides in Gastonia with wife Cathy and their children, Melissa and MaKenzie.

Talley Properties has specialized in midrange to high end residential and commercial property management since 1980. Their mission is to provide full service management to a diverse group of investors. With the goal to achieve long-term relationships with their investors, they are on call 24-hours a day, and provide quick, efficient same day service. Visit Talley Properties at www.talleyproperties.com or call 704-332-2206.

In shaky economy, renting increasingly tops owning

In shaky economy, renting increasingly tops owning

It's an ideal time to buy a home, but many potential buyers in Sioux Falls are forgoing home ownership and the American dream.

Instead, despite historically low interest rates, a drop in home prices and an ample inventory of houses to chose from, many are opting for short-term rental agreements.

Some question whether there's still value in owning a home .

Others say the popularity of renting is a trend that will be a short-lived function of economic uncertainty. Many potential first-time homebuyers don't want to be tied down to a home. They don't know whether the future will bring a pay raise or a layoff. So they opt for an apartment or town home.

The trend of renting will turn around eventually, but it's going to be slow, said Michael Roach, assistant professor of economics at the University Center and Dakota State University.

"That's a short-lived phenomenon we're experiencing simply because of where the housing market has gone for a couple of years," he said. "(Homeownership) is still the American dream; people still want homes. People still want to own their own home, but they want to do it in an environment that makes economic sense."

As the local economy grows and adds jobs, and as new businesses pop up, Roach said home ownership will pick up.

"Especially for younger people, younger families, nobody likes uncertainty when they're dealing with that amount of money. It's the biggest investment most people will make in their lives," he said. "People are gun-shy still, and it's going to take a little while to get over that."

Fear is the No. 1 reason for the shift from home ownership to renting, said Tony Ratchford of the Ratchford Group with Hegg Realtors.

He said although home inventory has dropped in Sioux Falls, and business is better than last year, it's not as good as he had hoped. He's had clients who sold homes and moved into rental properties to get out from under some debt. He also owns five rental properties that he said he gets calls about weekly.

"It's just been absolute fear. ... They just don't have confidence in the economy," he said. "People were careful with their money. They realized the cost of gas, cost of food and have a fear of the economics of the world that brought them to the realization to pay off debt, pay off credit cards and just hunker down a little and make life cheaper."
Ratchford said he thinks Sioux Falls has hit bottom and predicts things will pick up by summer. At that time, he said the market will be more balanced, home values will increase, rentals will be mostly full and prices will be up. People will realize it's cheaper to buy than rent.

"The American dream of owning your own home, it's such a great investment, but the last three or four years we haven't seen that," he said. "Some people are questioning whether or not there's any value in owning a house anymore. I know there is, and long term it's going to be a big deal. It's part of the cycle of what happens when you have a down dip."

Kayla Pederson, 27, never has owned a home, and said financially, she can't buy a house now. This month, she moved into a two-bedroom apartment with her 4-year-old son after living with a friend and saving money.

"These days, it's more common. I'm hearing friends and acquaintances move in with friends or parents to catch up until they're ready to get out on their own," she said.

Pederson recently moved back to Sioux Falls from Colorado. Although she has a degree in business management, she was unemployed for more than two months before she was hired as an IT support technician in June. She plans to own a home someday but said renting is the best option now.

Pederson passed on buying a foreclosed home in the Denver area. She's glad she did.

"With the economy, you could get more bang for your buck, but when we had time to think about it, we decided renting was a better option," she said. "I knew eventually I was going to be moving back home."

Matt Larson, president of the Realtors Association of the Sioux Empire, said pending home sales were up 16 percent in October compared with last October. Pending sales this year are up 0.9 percent. New listings and inventory are down.

Larson said people remain cautious.

"It should start improving in 2012, and I think we're going to lead the country out of it in the Midwest, because we didn't have the terrible downside," he said. "I think we're going to outperform most markets."
Rental vacancies in Sioux Falls are at an all-time low of 4.58 percent, said Dan Siefken, executive director of the South Dakota Multi-Housing Association. That's the lowest the organization has seen since it began the vacancy survey in 1996, he said.

It's also down substantially from a record-high of 13.28 percent in January 2010.

"I think (apartment living) is back in vogue," he said. "People went through a period of time where they were sold on the fact that home ownership was for everybody and that you were throwing your money away if you rented. Now they're realizing that renting is a good bargain."

Siefken said the high vacancy rates of 2010 can be attributed largely to the first-time homebuyer tax credit perks. Now, he said, renters are finding a savings in renting when they don't have to pay property tax, maintenance, insurance, lawn care and snow removal and other costs.

Today's renters don't want homeowner costs, but they do want more than a couple bedrooms, a bathroom and a kitchen. They want units with dishwashers and a washer and dryer. They want complexes with heated garages or underground parking, fitness facilities, pools and Jacuzzis, Siefken said.

"They're pretty much must-haves," he said. "Those apartments are getting harder and harder to find; those complexes have almost zero vacancy."

Angie Stingley, manager for Boulder Creek and Boulder Pointe Townhomes, said she has 184 units and expects one vacancy this month. She said if there is a vacancy, it doesn't last long.

The Dunham Co. will start construction next spring on a 262-unit apartment complex on South Grange Avenue. CEO Don Dunham expects it to be ready for tenants next fall.

"The old days of Section 8 housing and 4-plexes, that's not good enough for young professionals today," he said. "If you make enough money, you want to live someplace nice, but that doesn't mean you want to buy a house."

That's why Dunham hasn't built any single-family homes in more than two years. There's no demand.

He said the company used to have 40 to 50 spec homes for sale at all times throughout the area that includes Sioux Falls, Dakota Dunes, Yankton and Elk Point. Dunham said the company has about 150 lots fully developed and ready for single-family homes, but there's no plans for buildings.

"We're just trying to liquidate what we still have," Dunham said. "There is no demand. People are seeing that a home is not the deal it used to be anyway."

Rental Prices Soaring as Home Values Stay Low

Rental Prices Soaring as Home Values Stay Low

Foreclosure Deals, a leading provider of foreclosure listings, news and information, has released new research on home prices and rent values across the nation. Drawn on data collected from regional and local real estate markets, the numbers demonstrate the relationship between the average cost of rent and the average cost of a home purchase in each state, which can help homebuyers choose the best markets in which to invest.

"Foreclosures have had a huge impact on home values," remarked John Evan Miller, a real estate analyst with Foreclosure Deals. "In almost every market, prices are well below their 2008 values, simply because there are so many homes available."

Foreclosure Deals presents the new data compared with values recorded in 2008 using an infographic available on their web site, and the impact of the foreclosure wave is clear. In many areas, home prices are extremely low, while rent prices are notably higher.

"Rents are up, and they're going to stay up," said Miller. "Even though it's the best market for homebuyers we've seen in over a decade, the recession made a lot of people reconsider spending at the time, so they rented. This drove up demand, and prices, for rental properties."

Despite the sluggish economy, Miller points out that this is the perfect market for real estate investment. He adds that mortgage interest rates are also at historic lows, creating other opportunities for value investing.

"Not only do you have rock bottom prices, you've got a terrific market to rent out your property while you wait for prices to rise. And they will rise. Home values will come back, but the days of 3.5% and 4% mortgages aren't going to be around forever. Once home values rise, those interest rates will rise too."

Experts currently predict average rental costs to be 4.5% higher than by the end of 2011 than their value last year, and up another 3% in 2012. In contrast, foreclosure homes currently offer savings of anywhere from 10% to 50% off market value. As buyers who put off buying a home during the recession look to start buying again once the economy improves, it will create the opportunity for big profits for foreclosure investors.

"In a great many cases, you're going to end up paying less on a monthly mortgage payment if you buy a home than you would in rent on the same property," said Miller. "Could there be a better reason to buy than that?"

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