by Barker Realty, Inc. | Feb 18, 2020 | Investment Property Blog, Tenant Management, Tips for Landlords, Tips for Property Investors
Investing in rental property is a great way to generate a steady stream of income—but unfortunately, it’s not as easy as signing on the dotted line and letting the payments roll in. Property management takes a lot of patience, communication, and hard work, and many property buyers who see their investment as a “side gig” are often dismayed to find that it has similar demands to a full-time job.
If you have other things in life that demand your time and attention, a property manager can take all the worry off your shoulders and run the day-to-day details of tenant interaction, rent collection, property maintenance, etc. Below are some ways a Raleigh property management company can make your life much easier!
Resolving Tenant Issues
A big part of a property manager’s job is tenant interaction—answering questions related to the lease, resolving complaints, and filling out maintenance requests, to name a few tasks. Having a Raleigh property manager is beneficial for two reasons: first, as we discussed in the intro, because all this issue resolution takes up a significant amount of time.
And secondly, it places a third party between the owner (you) and the tenant. When the owner stays a rather distant figure from the day-to-day property tasks, tenants are more likely to have respect for you, your property and your regulations.
Handling the Paperwork
For some, one of the best aspects of hiring a property management firm is handing over the paperwork to someone else. A rental management firm can complete all the paperwork involved in finding and screening tenants, checking credit reports, conducting background checks, drawing up lease agreements, and keeping track of monthly rent. If you own an entire building with a high turnover rate, the reduction in paperwork can be well worth the cost of hiring a property management company.
Acquiring and Evicting Tenants
The other big part of a property manager’s job is filling empty units and keeping them filled. A property manager will advertise open units, conduct tours, interview and screen prospective tenants, draw up leases, and handle applications, move-ins, and move-outs. If a tenant ever needs to be evicted, a property manager will also handle the legal aspects of the eviction process so that you don’t have to have significant involvement.
Final Thoughts: Should I Invest in Raleigh Property Management?
Since we are a Raleigh property management company, you probably expect that we will say yes, every investment property owner should hire a management team to help out. The truth is, though, that some owners–those with an open schedule, head for details, and excellent people skills–are able to handle the job themselves. However, if your time is already booked with other responsibilities, we encourage you not to go it alone—property management is not for the weak of heart (or limited of schedule!) Similarly, if you find interacting with people stressful, hiring a property manager to interface with tenants and contractors for you will probably be well worth the investment.
Barker Realty, Inc. is a full-service real estate brokerage firm with more than thirty years of Raleigh NC property management experience. To set up a consultation appointment with one of our skilled representatives, click here.
by Barker Realty, Inc. | Jan 7, 2020 | Investment Property Blog, Property Management Blog, Property Selection, Tips for Property Investors
The days of real estate investors traveling from neighborhood to neighborhood on the hunt for housing opportunities are long gone. Nowadays, buyers don’t have to confine their search to just one city or state—in fact, some buyers will purchase a property in another state, without even setting foot inside. While we aren’t advocating for this particular strategy, we can’t help but get excited about a world that is truly a property investor’s oyster. Below are some of the most promising cities to add to your search in 2020.
Atlanta, Georgia
Google, Microsoft, Coca Cola and Verizon are just a few of the major corporations that have recently expanded their presence in Atlanta. Known as one of the largest tech hubs in America, Atlanta’s business-friendly climate and relatively affordable housing environment continue to attract startups and established companies alike. As more and more players enter the market and create job opportunities, Atlanta’s single-family rental market is expected to see steady growth. By the numbers, single-family home appreciation was very strong last year at 13.1%.
Raleigh, North Carolina
Massive educational institutions and a flourishing technology center have long made Raleigh an excellent opportunity for real estate investors, and the latest reports show that this trend will continue in 2020. In the first half of 2019, financial investment activity in Raleigh reached $385 million, and the city boasts more than 89,000 tech jobs. In fact, on the list of biggest technology hubs in the U.S., Raleigh ranks #3, just behind Silicon Valley and San Francisco. All of this means that 2020 real estate investors are guaranteed a good rate of return on a Raleigh rental residential or commercial property.
Orlando, Florida
Thanks as always to its steady Disney World traffic, Orlando is expected to report another high watermark in tourism this year. Hailed as America’s most-visited city, Orlando is a great market for rental property, due to the high percentage of leisure- and hospitality-sector jobs. Key metrics to watch include an annual population growth of 2.4%, and a forecasted household growth of 3.4%.
Jacksonville, Florida
Steady population growth in Jacksonville, particularly from retirees who have the luxury of discretionary income, have helped Jacksonville become one of the most promising real estate markets in the U.S. Sandy beaches, championship golf courses, and historical military attractions draw tourists to the area year-round, and make it a reliable investment for property investors to bank on. Jacksonville experienced 3.7% rent growth in 2018, and household growth is forecasted at 2.1% in 2019.
Looking for Investment Property in Raleigh NC?
When you’re considering purchasing rental property in Raleigh, an experienced property management company can help you make the best decision! And once you have made your investment, we can help you manage tenants, rent, property maintenance, and more. If you’re ready to become a Raleigh landlord, call Barker Realty today.
by Barker Realty, Inc. | Jul 18, 2018 | Cary Investment Property, Cary Property Management, Investment Property Blog, Property Selection
Regardless of whether you are looking for a single-family home, apartment or townhome, you will have to spend a lot of time looking at Raleigh rental property listings. You will also have to spend a lot of time visiting the places and talking to people who work in rental property management in Raleigh. There are several things that you can do in order to save time and money.
3. Details
Anyone who works in rental property management will recommend that you pay attention to all of the details in the listings. Pay attention to the floor plan, square foot, storage space and the number of bedrooms and bathrooms. Additionally, you may want to choose a place that is located near shopping centers, entertainment centers, and freeways.
2. Amenities
You will also need to pay attention to the amenities when you are looking through Raleigh rental property listings. Kitchen appliances and heating are not the only amenities that you should be looking for. Private outdoor spaces, ample storage, and in-unit laundry are some of the amenities that you may want your new home to have.
You should also look for shared amenities such as swimming pools, outdoor spaces and fitness areas.
1. The Costs
You will need to make sure that the landlord is clear on all of the costs. In addition to the monthly rates, you will need to pay a security deposit, and you are responsible for the utilities associated with your property. If you are bringing a pet with you, and your property allows it, you will have to pay a pet deposit. You will need to add up all of the costs in order to determine whether the price of the new place is feasible. Barker requires that your income be equal to or greater than 3x the monthly rent.
If you are looking for experienced property management in Raleigh, contact Barker Realty today to view one of our available properties.
by Barker Realty, Inc. | Sep 27, 2017 | Investment Property Blog, Taxes & Financing, Tips for Landlords, Tips for Property Investors
Real estate can be a powerful investment. Buy the right home, and you can rent it out to other families and individuals throughout the years, earning a hefty monthly income as you do. Of course, buying your first home for rent might not be as simple as it seems on the surface. There are a lot of legalities and other concerns to think about, so if you want to make sure that you stay ahead of the curve, then you’re going to need some help from a specialist.
If you want to discover the possibilities of buying a house to rent out, but you want to keep the stress factor to an absolute minimum, the following tips could help.
- Get the Right Advice and Do Your Research
The most important thing you can do to protect yourself when you’re thinking of buying a house to rent out is getting the insight and support of a professional team. The right property management team can not only give you advice on what you need to do as a landlord, but they can also take a lot of the hard work of owning an investment property off your plate.
At the same time, remember to do your own research too. Take courses where you can, read books on investment and talk to other people who have spent some time exploring the market. The more you know about real estate investment, the more confident you will feel when you start your new venture. Just as you wouldn’t move into a new house without help from a professional moving team like our friends at Bellhops Moving Raleigh, you shouldn’t start your venture without insights from specialists.
- Know What to Buy
Once you’ve got the right experts by your side, it’s important to think about how you can get the best house for your future. After all, you want a home that’s going to attract a whole host of potential renters, but you may have to make some compromises if you want to keep your initial investments low. The key is to figure out what you can compromise on. For instance, having to powerwash your home before you sell it is no problem, but if you’ll have to rebuild a roof before you can put the space on the market, then that’s something else entirely.
Check the structural integrity of the home carefully when you’re looking for a bargain, and remember that location is often more important than how a home looks when it comes to attracting renters. Ensure that the neighborhood has plenty of things that appeal to a wide audience.
- Make Sure You Have the Right Finances
Finally, reducing the stress of investing in a home to rent means making sure that you have a good idea of all the finances that you’ll need to deal with, including estimating repairs and other important maintenance costs. Remember that the mortgage cost is only one of the expenses that you’ll need to consider, even if it is your largest outlay. You’ll also need to consider things like repair and maintenance costs too.
Buying your first investment property isn’t always easy, but the more prepared you are from day one, the more comfortable the process should be.
![Updater: A Service for our Residents]()
by Barker Realty, Inc. | Aug 1, 2017 | Barker Realty, Company News, Investment Property Blog, Property Management Company
UPDATER, A TOOL TO MAKE MOVING EASIER
When it comes to moving, the struggle, unfortunately, isn’t over once you’ve found your new home. Whether it’s changing your address, finding home service providers, or simply packing up your life into boxes, every step of the moving process is tedious, time-consuming, and downright stressful. To help simplify the moving process, we are offer Updater to all our residents! In case you haven’t heard of it, Updater is a web app that allows residents to save time – and stay organized – during the moving process.
HERE’S WHAT YOU CAN DO WITH YOUR UPDATER ACCOUNT:
Connect Utilities & Home Services
Updater connects you to the utility providers you need to set up in your new home. Additionally, Updater’s personalized Moving Concierge helps you find the best deals on the Internet, cable, phone, and other home services in your area. Updater can even schedule installation on your behalf!
Find and Book a Reputable Moving Company
Updater helps you compare, schedule in-home estimates, and book trustworthy, pre-approved moving companies. Forward Your Mail Save the trip to the Post Office by filling out your official USPS mail forwarding form directly within Updater.
Purchase Renter’s Insurance
Updater makes it easy to purchase renters insurance and make sure your belongings are safe and sound in your new home.
Update Your Accounts
Frequent flyer accounts, alumni associations, magazine subscriptions, etc.— Updater makes it easy to notify the businesses and organizations you care about of your new address.
Send Moving Announcements
Don’t forget to keep friends and family in the loop! Updater’s digital moving announcements let you add a personal message and even link to your new address on Google Maps. Claim Exclusive Moving Deals Updater helps you compare, schedule in-home estimates, and book trustworthy, pre-approved moving companies.
Barker Realty is always trying to improve our customer service and amenities for our residents. Updater is one of the tools that provide a high level of individualized customer service to our residents.
