Charlotte Property Management Weekly: Are You Practicing Insanity with your Home for Sale?
The definition of insanity is to do the same things over and over again and expect a different result. Is this what is happening with all the vacant homes still being listed for sale (that shouldn’t be)?
Learn MoreCharlotte Property Management Weekly: Lessons from the Banking Crisis for Properly Structuring Incentives for Rent-To-Sell
Potential clients of ours ask, “Why do you charge a “Realtor Fee” of 5% or 6% when a rent-to-own tenant buys our home (rent-to-sell)? Some of your competitors provide the tenant, keep the upfront option fee, and then let us manage the property. We then only pay the attorney fees when the tenant buys.”
We answer, “So you don’t experience something akin to the banking crisis.”
Learn MoreCharlotte Property Management Weekly: Maybe You Shouldn’t Fix Up your Rental Home?
Unfortunately, trophy rental homes with bells and whistles don’t make money; average homes do. So the key is to keep your rental home average and undifferentiated? That doesn’t sound like good marketing, does it?
Learn MoreCharlotte Property Management Weekly: Better to Rent or List Your Home for Sale? 3 Question Litmus Test
This seems to be a FAQ these days. As a property manager in Charlotte, we get many calls from people asking themselves this question.
I didn’t think there was a one-size-fits-all answer to this, but I was corrected. It just seems to come down to who you ask.
Learn MoreCharlotte Property Management Weekly: Importance of Getting Paid from Rentals in the Next 5 Years
According to an article in Barron’s this month, the future of the real estate market is in rentals for the next five years. Most real estate agents are hoping this news is akin to the Bush White House claiming the existence of Iraqi weapons of mass destruction (WMD); hopefully, it is just another example of faulty American intelligence.
Learn MoreCharlotte Property Management Weekly: 700+ Credit Score Tenants Not the Best Option for your Rental Home?
He wanted to make sure that we placed a rental tenant into his home that had 700+ credit scores. That was it.
I told him I didn’t think that was a good idea; it would reject a lot of better suited applicants. He told me I was crazy (in so many words).
Learn MoreCharlotte Property Management Weekly: Making Rent-To-Sell’s Story Sound like BP’s
2. Misery. Agony. It will definitely lead to eviction which means years of court battles that will make the OJ trial seem like a traffic ticket. Once the tenant moves in, your life will be drastically different. It’s like having another child; be prepared to be over to your old house weekly at 1 AM to fix the toilet. I feel I must present this offer to you, but I would highly recommend against it.
Learn MoreCharlotte Property Management Weekly: When Will Rental Rates Rise?
Which leads to the question we really care about: When can we raise the rents to my properties? In short, soon. Why is that?
Learn MoreCharlotte Property Management Weekly: Solving the High-End Home Sales Stagnation with Rentals and Rent-To-Own
Many are realizing that they need a solution to get them past the next few years. They are starting to explore rental and rent-to-own options. They’ve heard the horror stories that people tell about renters, but they can also do basic math.
What do I mean by that?
Learn MoreCharlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #1)
1. If this economy has taught us anything, it is cash is always king and real estate is an investment. The ONLY decision criteria for hiring a prospective property manager should be their ability to maximize the cash flow of your investments. Period.
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