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2039 Oakdale Road , Unit W
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Latest Blogs

Keeping Up With Trends - Charlotte Property Management

Keeping Up With Trends - Charlotte Property Management

The only thing constant is change. This is a saying that was first attributed to the philosopher Heraclitus around 500 B.C.E. While change might be the only constant that Heraclitus believed in, this phrase has created a bit of a paradox because it has certainly stayed relevant and accurate itself. Things seem to change at such a rapid pace that it can be hard to keep up. If you look at technology, you'll see exactly what I'm talking about. In the past 25 years we have gone from most people having a phone line or two in the house and maybe one computer to having no land lines and a phone and computer combination in their pockets. We have seen the change from cassettes, to CDs, to digital music. Now, vinyl records are coming back into style to use. This also helps to show that what goes around comes around again.

While this may not seem like it has much of anything to do with property ownership or rental units, it actually illustrates a large issue that many owners have. Trends change a lot, and floor plans and décor are not immune. If you've ever seen a house that hasn’t been updated since the 1960’s or 1970’s, you probably noticed things like shag carpeting and bathrooms with pink and/or blue tiles, bathtubs, and sinks. As I’m sure you know, this is no longer a popular or desired mainstream design. In fact, people are actively tearing this style out of their homes and replacing it with something completely different. This sometimes is in anticipation of finding new tenants or selling the house, as integrating modern trends will increase the property value. If there’s one thing we can be sure of, it is that in another 30 years or so, there will be a new style that is desired in both the layout of the home and the cosmetic appearance.

Preparing your rental property for a new resident in a way that will make it appealing to modern audiences isn’t always easy. We can help with some of the changes that may need to be made. If you call Talley Properties, we'll have a discussion about ways to make it happen. We know that getting a place ready for a new tenant can take a long time and is often stressful. Our goal is to make that transition as easy and painless as possible for everyone involved. Give us a call today, and learn what we can do to help you out!

Lease Lengths - Charlotte Property Management

Lease Lengths - Charlotte Property Management

One of the decisions that a landlord needs to make which isn’t often discussed is the length of lease that you decide to have. While most people simply do a base of one year with the possibility to renew each year, you do have other options. At the end of the day, you’re the one that owns the property. You can decide to have a lease of any amount of time you want, but there are things that you need to factor in when figuring out what your resident’s lease length should be. Here are some ideas to consider when marketing your apartment.

While the base of a year is fairly standard, this isn’t the best for everyone. For example, consider someone in the military or who moves around a lot for work. A year may be a large commitment and they may not have the assurance that they won’t be moving before the end of the lease. For people in this position, a three-month or six-month span may be all they can realistically promise. This definitely doesn’t mean that they won’t pay rent or that they will leave your unit a mess, which is often the concern with a shortened lease. Some people simply don’t have jobs that allow them to stay in the same place for too long.

Another situation which may need a shorter lease is when a person has a loved one in a hospital or care facility. If the person being cared for is not doing well, they may very well want to be as close as possible for as long as they have left. However, it is often impossible to tell how much longer this would last, so renting on a rolling basis might benefit these tenants more. While doctors can give an idea, some don’t live to that mark while others may surpass it by years. This is already a stressful time in a person’s life, and trying to find housing can be almost impossible if all leases in the area are a minimum of a year.

If you are open to the possibility of frequent turnover, it may be beneficial to you to offer shortened leases depending on the circumstances. You never know how much of a difference it may make to someone, and it might help you to tap into a larger group of people that don’t have many other options. See what others in your area do and what would work best for you, and let Talley do the rest!

Moving in Spring - Charlotte Property Management

Moving in Spring - Charlotte Property Management

A lot of things tend to change in the spring. With the warmer temperatures, there are many transitions we see. Flowers blooming, job changes, tourism and travel, and more people out and about enjoying themselves. It goes to follow that this is also a time that many people get a head start on the common summer moving season. Who wants to lug furniture and belongings from place to place in scorching or freezing temperatures? There are many more advantages of moving during the spring, not to mention temperature, that could persuade you to beat the summer rush.

One advantage is competitive pricing. Not everyone changes location when their lease is complete; some choose to move sooner rather than later, closer to work opportunities, and get subleases to cover their exisiting lease. This frees up property space, and it is typically cheaper to move in the spring, because there are less people trying to move in. Essentially, there is a surplus of space that needs to be filled. What's more, is the fees for moving and truck rental companies are lower than in peak seasons to attract more work. You're saving on those few months at your new pad, and the price to move!

Not only is spring a great time to move into a new home, it's also a prime season to sell! As mentioned, the warmer weather brings about blooming season, more vibrant greenery, and warm sunshine. If those aren't prime conditions to make a home and yard look spectacular, we don't know what is. On top of that, most people prefer to move and get settled into a new place before the temperature gets extremely hot. In Charlotte, this is definitely no exeption.

When it comes to moving in spring, there are multiple advantages to moving earlier rather than later. Talley Properties has various available properties ready to move now. We enjoy making the moving process as seamless as possible, and we are empowered knowing that we have another happy tenant on our hands! Check out our listings today, and find a rental you love!

Amenities - Charlotte Property Management

Amenities - Charlotte Property Management

When people move, they want to be as comfortable in their new home as possible. This often means that they want certain things that are often seen as a luxury, otherwise known as an amenity, in their apartment and complex. This also means, however, that as a landlord it may be something you feel the need to provide. These amenities may be seen as a necessity to many residents, but everyone has certain things they need if they're going to move into a new place. Here are a few examples of amenities that you may want to try to provide if possible.

  1. Laundry. This one is the most common. Most people want a washing machine and dryer at least close by when they move. While some people prefer to have it in their apartment, others are okay with a community wash room. Many of the communal ones are coin operated, but that's better than finding a nearby laundromat. The apartment complex also wants to keep up it's cleanliness, and offering laundry amenities is seen as common courtesy for tenants.
  2. Pool. This is another common amenity that is looked for in a rental. Pools are often expensive to maintain, but they may be well worth the price. Being able to cool off during the summer can be a great trade for either higher year round rent or maintenence fees. Either way, you may want to look into the possibility of including one to add the draw of liesure to your property.
  3. Upgraded/Additional Appliances. The kitchen is such an important part of someone's home. Even if your tenants don't cook much, it is important that the area they have to prepare food is up to date and in proper condition. Sometimes this means that you need to spend a little more money to make sure that they have a reliable oven or dishwasher. While it may not be a necessity for you, you never know when your tenant may have a disability or even just a lack of time on their hands. Updated appliances can go a long way.

There are many different amenities that complexes offer their residents to keep them happy. But, the improtance of each of these can vary from one tenant to another, so be sure to listen to their input on what would keep them satisfies with their living arrangement. You may be amazed at the difference it makes when you have these amenities listed with Talley!

Proper Listings - Charlotte Property Management

Proper Listings - Charlotte Property Management

When it comes to getting your rental property traffic, there are few things that will help more than a full and proper listing. One of the things that we see often is a listing that only gives partial information, and that doesn’t do anyone any favors. It is important to give as much information up front as possible, because many people will simply scroll past or turn the page until they see at least the majority of the keywords they are looking for. Just like pictures, extensive information is important to a successful listing, so here are some things to keep in mind that people often look for.

One of the first things that people will look for other than price and bedroom/bathroom count is the amenity list. This can include anything from the laundry setup to whether or not your apartment comes with a balcony or if there is pool access. Amenities are massive when someone is renting, as these are the things that can make life a little easier. They may even include things that the renter views as a necessity. Something that you may find simply helpful, like a dishwasher, may be a major sticking point for someone else, so it is always important to list as many amenities as you can.

Another important thing to talk about in your listing is your pet policy. Often a pet owner will not look at an apartment if they aren’t certain that they can take their four-legged friends with them. It can be very upsetting when you fall in love with an apartment only to discover after the fact that the pet policy is not compatible with what you require, so it’s always more efficient for you to be upfront about your policies. Even if you want to say that it is only with landlord's approval, it is always better to list that so a potential tenant knows what they are getting into ahead of time.

At the end of the day, it is always better to give more information than it is to keep the listings short. This is considerably easier if you are using online listings, so give as much information as you possibly can about your rental property. It can only help to get the proper tenant in, instead of someone who isn't actually as good of a fit as you both thought. Give Talley a call today and see what else you can do to get your space rented out quickly!

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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