Charlotte Area Property Management Services

How Much to Invest in Landscaping - Charlotte Property Management

How Much to Invest in Landscaping - Charlotte Property Management

As a landlord, it’s your responsibility to make your property attractive to as many potential tenants as possible. Of course, the most important part is the living space. How many bedrooms/bathrooms? What amenities are offered? How competitive is the rental rate? These things will be at the forefront of renters minds as they are searching for their next home.

But what about the landscape? Surely you want your lawn and foliage to be just as attractive as the house itself. Not only that, but the right landscape design can drastically reduce regular maintenance and even discourage prying eyes. Below are a number of ideas that you may want to consider for your investment property.

Choosing the right type of grass for your lawn is essential. Some types are very high maintenance and need regular watering and mowing. In other words, they require quite a bit of upkeep. Research grass types that will thrive in your area, and pick one that does not require constant maintenance. This will make landscape management easier for you and your tenants.
Hardscaping or xeriscaping. Hardscaping makes use of tough materials such as brick, stone, gravel, wood, and other naturally occurring elements. Decks, patios, walls, and walkways can be a great use of space, and they require very little upkeep. Hardscaping may be considered a subset of xeriscaping, which is defined as water-conscious landscaping. Less water, less maintenance.
Climate-conscious shrubs. Depending on the climate of your rental property, you may be quite limited in the types of foliage that will grow. Consider cultivating local flowers, shrubs, and trees that will thrive in your particular environment, whether hot and humid or cold and dry. This will make it significantly easier to keep them alive and healthy, no matter your skill level when it comes to gardening.
Privacy screen. Everyone wants privacy in their own home. Depending on the property and its layout, you might consider planting trees or vines surrounding the house. Not only will this make the property more attractive, but it will make the residents feel secure and block prying eyes from the street. It may even discourage burglars during those times when the house is sitting empty between tenants.

Landscaping may not be top priority when compared to the house itself, but it’s a considerable bonus for potential tenants. Consider investing your time and money into making your property look finished. A lush lawn, a few flower beds, or an outdoor living area go a long way in making a house feel like a home.

Why Hire A Property Manager - Charlotte Property Management

Why Hire A Property Manager - Charlotte Property Management

Being a landlord is a big commitment, especially for those who can’t dedicate 100% of their time and energy to its success. Marketing, finding tenants, and otherwise managing the maintenance and financial aspects of your property can be time-consuming. For those who are new to investment properties, it can be downright overwhelming.

Hiring a property manager may be considered an investment in and of itself. Whether you simply can’t dedicate the time needed to nurture your new source of passive income or your primary residence is not in the immediate vicinity, a property manager will help you every step of the way. For a small fee, you can essentially put your income on autopilot. Here are some of the benefits that come with hiring a property manager.

Marketing and pricing. Sometimes it’s difficult to know what people are looking for in a rental property, the positive aspects that you should highlight when marketing. Perhaps even more difficult is coming up with a rental rate that is fair but competitive. A property manager can work alongside you, or even do this for you.
Screening potential tenants can take a long time, and there are typically many steps to the process. Background checks, credit reports, and references can all be handled by your property manager.
Rent collection. This is the fun part! In practice, however, rent collection can sometimes be difficult. What do you do when someone asks for an extension on their rent? How do you handle late or missed payments? A property manager will take care of this for you. Fortunately, they are typically better equipped to handle these types of situations.
From leaky pipes and loose wiring to a stovetop on the fritz, ensuring that everything is running smoothly can be a full-time job on its own. It’s important that tenants maintenance requests take priority, preferably completed within 24 hours. A property manager can fulfill these requests for you, freeing up your schedule to focus on other pressing matters.
Geographic diversity. The great thing about property management is that you can expand your reach. Rather than being restrained to your immediate vicinity, a property manager will keep up with your investment wherever it may be located. This is particularly helpful for those that don’t have many viable options in their area.

There you have it. A property manager is an investment, but perhaps you would consider it a necessary one. Whether you’re new to the rental property scene or you’ve been doing this for years, it may time to put your investments on autopilot.

5 Hidden Costs Landlords Accrue - Charlotte Property Management

5 Hidden Costs Landlords Accrue - Charlotte Property Management

Owning and maintaining a rental property is a great source of passive income. But you may find that your position as landlord is hardly passive. Rental properties often require regular maintenance and repairs, and you have to be willing to make the needs of your tenants a high priority. It can be a bit overwhelming… and expensive.

When first getting into this business, you may not be aware of all the little, hidden costs that come with the territory. Those little costs can add up quickly, so make sure you are aware before committing. Here’s a list of 5 hidden costs landlords tend to accrue.

Property tax. Besides the obvious costs that come with having an extra property, sometimes rental properties incur higher tax rates than those that are owned and lived in full time. You may be eligible for a tax break because of its rental function, but calculate the cost and be prepared to pay full price before you commit to a property.
Cleaning & maintenance. The time between tenants should be used for deep cleaning the rental space. Whether you choose to do this yourself or you hire a cleaning service, it will cost you to ensure that your next tenants begin their stay with a clean slate. Even while people are living in your space, you are responsible for consistent maintenance on utilities, appliances, and the structure itself. Make sure that tenants have a way to contact you, and make their needs your highest priority.
Legal fees. Why would a landlord accrue legal fees? Unless you are an attorney or fairly well-versed in the law, you will likely need some legal guidance when drafting a rental contract. You must create a new contract for each tenant, as a one-size-fits-all contract may lead to disagreements or other issues.
Insurance rates. Like property taxes, insurance rates can skyrocket when it comes to rental properties. Be sure you are prepared to take on the extra cost.
While it would be ideal for your rental property to be occupied at all times, the reality is that there will be dry periods. You may have to go for a few months at a time without income. Save a little money on the side so that when the doldrums come along, you are not badly affected.

These are just 5 of the hidden costs that come with a position as landlord. Do your own research and plan every step of the process. When those hidden fees or necessary services come along, you will be prepared to meet them head on.

Your Change of Address Checklist - Charlotte Property Management

Your Change of Address Checklist - Charlotte Property Management

Moving is a lot of work, and your to-do list is probably already a mile long. On top of packing your possessions, filling out last-minute paperwork, and finding a moving company, you have to consider the broader effects that come with changing your location. For example, your address. Think of all the things that hinge on your current address: letters, packages, bills, bank statements, and even utilities such as internet and phone lines. We’re here to help you through the process, shortening your to-do list by compiling some of the important companies and services that you will need to notify when moving.

Post Office Unless you want your packages, letters, cards, and other mail to end up in someone else’s mailbox, it’s critical that you let the post office know of your new location.
Utilities (gas, electric, water, internet, phone, etc.) The last thing you want when you move into your shiny new home is to find that the electricity doesn’t work and the water has not been turned on. Utilities such as gas, electric, water, internet, and phone lines require your address to properly bill you for their services.
Financial establishments (bank, card companies, etc.) Tax and insurance agencies need to know your current place of residence. It’s very important that your bank statements and other personal financial communication not end up in someone else’s hands. Plus, you will need to change the address associated with your credit and/or debit cards.
Current employer Whether you are paid via direct deposit or you receive your salary in the mail, it’s crucial that you give your employer your new address. Certainly, you want any emergency communication, tax forms, or pay stubs to end up in your own mailbox.
Shopping and subscription services While you may think that updating your address with the post office will solve all mailing issues, it’s wise to alert all services of your move. This will make checkout quicker and easier, and it’s less likely that your mail will be lost on its journey.
Physicians (doctor, dentist, vet, etc.) Physicians should be alerted when you undergo a change of address so that their records may be updated and corrected.

While this list will help smooth the transition between homes, please double-check your own records to be sure that nothing is left unchanged. The good news is that most records can be changed at any time after your move. So take time to relax, unpack, and enjoy your new home!

Ways to Attract Tenants - Charlotte Property Management

Ways to Attract Tenants - Charlotte Property Management

Post Office Unless you want your packages, letters, cards, and other mail to end up in someone else’s mailbox, it’s critical that you let the post office know of your new location.
Utilities (gas, electric, water, internet, phone, etc.) The last thing you want when you move into your shiny new home is to find that the electricity doesn’t work and the water has not been turned on. Utilities such as gas, electric, water, internet, and phone lines require your address to properly bill you for their services.
Financial establishments (bank, card companies, etc.) Tax and insurance agencies need to know your current place of residence. It’s very important that your bank statements and other personal financial communication not end up in someone else’s hands. Plus, you will need to change the address associated with your credit and/or debit cards.
Current employer Whether you are paid via direct deposit or you receive your salary in the mail, it’s crucial that you give your employer your new address. Certainly, you want any emergency communication, tax forms, or pay stubs to end up in your own mailbox.
Shopping and subscription services While you may think that updating your address with the post office will solve all mailing issues, it’s wise to alert all services of your move. This will make checkout quicker and easier, and it’s less likely that your mail will be lost on its journey.
Physicians (doctor, dentist, vet, etc.) Physicians should be alerted when you undergo a change of address so that their records may be updated and corrected.

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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How Much to Invest in Landscaping - Charlotte Property Management

Why Hire A Property Manager - Charlotte Property Management

5 Hidden Costs Landlords Accrue - Charlotte Property Management

Your Change of Address Checklist - Charlotte Property Management

Ways to Attract Tenants - Charlotte Property Management

Charlotte fastest growing city over last 10 years

Talley Properties Announces Opening of New Facility

In shaky economy, renting increasingly tops owning

Rental Prices Soaring as Home Values Stay Low

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