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Latest Blogs

Frozen Pipes

Frozen Pipes

Although frozen pipes don’t seem to be as common an issue anymore, it is still worth bringing it up at least once a year. If you have ever lived in an older house or in a place with dangerously low temperatures, you will probably remember worrying about your pipes freezing and therefore bursting. If you never had that experience, you should definitely count yourself lucky, as many of us can tell you from experience that it is an extremely unpleasant thing to deal with.

When you have rapid changes in temperature, certain things are bound to happen. Older buildings and houses will often “settle”, which results in sounds that make it seem as if the building is cracking and groaning. It’s one of the things that often makes sleeping in an unfamiliar house so scary when you're a kid, since you aren’t used to the noises that the expansion and contraction makes anywhere other than your own home. This is especially true when it’s an older building that still uses a water-based heating and cooling system.

While North Carolina doesn’t generally have long periods of time where the temperature stays low enough to be concerned about freezing pipes, it has been known to happen on rare occasion. Thankfully, there are some ways that you can help prevent your pipes from bursting even if record lows do hit. It is always better to have the information on the off chance that you ever find yourself in need of it. Keeping any cabinet and closet doors open helps to improve air flow and can keep the pipes at a steadier temperature. It is also a good idea to keep your thermostat set to the same temperature all day and night if possible. Although it might be annoying or seem counter-intuitive, having a small drip of cold water coming from your faucets can help to keep your pipes from freezing.

Emergencies such as frozen pipes are a great reason to have Talley Property Services on your side. We have a 24 hour number for your tenants to call in case of something like this happening, and we can get someone dispatched quickly in case repairs are needed. It is always a stressful time when something goes wrong, and if it happens around the holidays it is even worse. Let Talley take some of that concern off of your shoulders so that you can enjoy your time without being on call.

Recycling

Recycling

There is a lot of discussion when it comes to apartment complexes and other large buildings that have a lot of people working and living there regarding garbage pickup. Although most places understand that they need to have a place that their residents can dump their trash, many people wonder if they should provide recycling services as well. While this is something that someone who knows the location must decide, we want to help you out when it comes to keeping things out of landfills that could be better used, or reused, in other places.

One of the main reasons that most rental property owners do not want to offer a recycling option is the price. While it is a bit more expensive than just having the garbage, many companies that offer both will give you a bundle deal so that you can get them at a reduced rate. You can also normally reduce the cost by having fewer recycling pickups than garbage pickups, which works for most places. For example, most apartment complexes can get their garbage picked up twice a week while the recycling is only picked up twice a month. While this may cause a bit of an issue around holidays when lots of large boxes are being tossed into the bins, it should be more than sufficient for most times of the year to have less frequent pickup dates.

Another issue that many owners find is that people don’t seem to know (or care) about how recycling works. It is important that everyone understands which bins are meant for garbage and which ones are meant for recycling. Most plants that recycle will either turn away trucks that are full of garbage or charge extra fines for having to separate the contents. This is expensive for the property managers and owners, which can discourage a lot of places from continuing a recycling program. Make sure to post literature about what can and cannot be recycled and take extra action such as video monitoring if needed.

Recycling is something that can really help out the environment and apartment complexes if used correctly. Although there may be people who don't care one way or another, it can be something that is implemented on your property to great success. Ask around and see if there is any interest in getting a recycling bin for your residents. It certainly couldn’t hurt for you to make a difference in the community and the environment!

Making Changes

Making Changes

You can't realistically expect someone to move into a new space and have it perfectly suit them from day one. Every person has different needs and styles that need to be accommodated when they move. Sometimes these are small changes, like hanging a picture or two, or maybe adding a bookcase. Other times, however, there are major alterations that need to be made. These can include adding a stair lift or changing out a bathroom tub or toilet to make it more accessible to someone with additional medical requirements. No matter the scope of these changes, you should always talk to your landlord.

While most landlords don’t have a problem with you putting up pictures or hanging new curtains, some don’t like holes in their walls. It is important to make sure you ask before you do anything that may bother your landlord. For example, if you put up shelves on the wall your landlord may get angry, but simply putting a nail in the wall to hang a painting is okay. If you want to change out a light fixture, you should ask the landlord if they are okay with you leaving the new one when you move or if you should keep the original to put it back. Every landlord is different, so never assume that the preferences are the same from one to another.

Some landlords are okay with you painting the walls as long as you return them to their original color while others don’t want to deal with covering other colors when you leave. Although you may paint a lovely mural on the wall, it might make it more difficult to rent to the next tenant if they don’t have the same taste in art as you. Even if you don’t think you’ll “get caught”, you should remember that it isn’t your home, and does still need to be treated with respect. If you wouldn’t want someone to do it to you, then definitely think twice before you do it to your landlord.

Any change that you may want to make to an apartment should always go through the property owner. Although you don’t really need to ask permission every time you hang a new picture, it is a good idea to ask what is and is not okay when you move in. As long as you have communication, you should be in the clear!

How Much Should I Pay?

How Much Should I Pay?

In the world of rentals, there are so many different questions we have to ask ourselves. One of those questions, and arguably the biggest one, is how much we can and want to pay for an apartment. You never want to stretch your financial limits and be in trouble if you end up losing your job or taking a surprise pay cut, but you also probably don’t want to go for the cheapest possible rent due to standard of living. Extra cheap locations are often too small or are barely habitable for a variety of reasons, which can be downright dangerous for those living there.

Most financial experts will agree that your rent payments should make up about 30 percent of your income. This is seen as a safe balance between your housing costs and other expenses. While this isn’t always going to work out due to a number of possible factors, it is at least a solid place to start for your budget. It also gives you a good amount of perspective on whether or not a certain price is too good to be true as well. For example, if an apartment would only cost you 20 percent of your budget while the rest of the places in the area would cost you the full 30 and there isn’t an obvious reason as to why, then you may want to reconsider instead of just jumping at the cheapest option.

It is also always a good idea to check around at other local apartments and see how much they are renting for. You never know if there is one specific area that costs more than the others around it, and depending on your financial situation you either want to gravitate there or avoid it. It also gives you a good idea whether or not you're actually getting a good deal on your rent payments.

At the end of the day, it is up to you to decide how much you should be paying for rent. Some landlords require a minimum income to prove that you can afford the apartment, so that is something you need to keep in mind when you look for a new place to live. If you are ever curious about how much you should pay, give Talley a call and see what we have to offer. You never know, you might just find the perfect place within your income level!

Amenities

Amenities

When you move, you want your new place to feel as much like a home as it can. This means that you will often search out certain things that are normally seen as a bonus, or amenity, in your apartment. This also means, however, that you most likely have to pay more for the amenities that are included in the apartment. These amenities may be considered a necessity to you, but everyone has different things they need in place before they move in. Here are a few examples that can help you decide what you need before you move into a new apartment.

1. Laundry. This is the biggest one. Most people want a washing machine and dryer at least nearby when they move. While some people prefer to have it in their apartment, others are okay with a community wash room. Many of the community ones are either coin operated or use a pre-paid card, so that is another thing to consider when you are moving. It can take a while to find the exact setup you are looking for, but if it isn’t a deal breaker for you, you can always just look for a location near a laundromat.

2. Pool. This is another common amenity that is looked for with apartment buildings. Pools can drive up the price of a rental, but they are well worth the difference to some people. Being able to cool off and socialize during the summer can be a great trade for the money, so if you are someone who really enjoys taking a dip, try to find a place with a pool.

3. Off Street Parking/Multi-Car Parking. Parking is always a hassle when you live in an apartment. Having a private parking lot or driveway can be helpful, but even then you generally only get one spot per apartment. This is great until you have two or more drivers living in the same unit. Being able to find an apartment that can accommodate more than one car can seem impossible depending on where you live, so be sure to keep an eye on those parking arrangements if there are multiple people moving in.

These are only three amenities that you may want to consider when planning on moving, but they are three of the biggest ones. If you know what you’re looking for, let Talley know and we will do all we can to find you the rental property of your dreams!

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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