Charlotte 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: Wouldn’t You Want the Market to Know Your Rental is For Sale?
However, in an increasingly illiquid market, most wanna-be sellers are turning to the rental market to decrease the short-term pain of monthly payments on their vacant homes. What they really want to do is sell (and not of the short variety).
Learn MoreCharlotte Property Management Weekly: 52 Consecutive Weeks of Writing- Some Random Thoughts on the Real Estate Industry
Writing a blog every week is hard! My hats are off to the people who write multiple times a week, and especially to those that do it every day- kudos!
Learn MoreCharlotte Property Management Weekly: Rent-To-Own- Just like Burger King for Buyers and Sellers
A lot of banks don’t like Burger King. Why do I say that? It’s simply because they don’t want you to “Have it Your Way.”
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: The Only Property Management Question You Need
Here’s the logic: if you put the average Charlotte house up for rent for $100, we could have someone locked up today to rent it. Conversely, if you put your house up for rent for $10K today, it would take us years to fill with a tenant (if ever).
The equation is:
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 #3)
3. The skills needed for selling a home have (and will continue) to trend to more of a solution-based, “cash now, sell later” approach; outright sales are becoming scarcer as there are less qualified buyers available in the market
Learn MoreCharlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #2)
Traditionally, this could be considered a “lowering” of standards; however, in today’s market, I would argue that it is understanding, collecting, and interpreting tenant data better. Tenant selection has become more of an art and less of a science.
And this makes it much harder!
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