We find many people are investing in the real estate sector today, especially in thriving markets like the Raleigh-Durham region of North Carolina. It is a lucrative industry that can have high returns. Just like any other investment needing full attention by professionals who are dedicated to your best interests, real estate requires proper management. Therefore, property owners should always consider the services of rental property managers. These professionals help manage your building or home(s) and rent them out to reliable tenants through a thorough application process like Barker Realty provides.
Getting involved with tenants daily is not an easy task. It requires an experienced manager from a licensed property management company. Our property management services involve the following duties:
Collecting rents
Handling issues that affect tenants
Ensuring that the property is tidy and well-maintained
Making sure that the landlord’s property is structurally secure
Taking appropriate actions against tenants who fail to pay rent on time
Therefore, if you want to be relieved from these tasks in order to focus on growing your portfolio further, we recommend hiring a property management company who possess the following traits:
1. Communication Skills
Property management requires excellent communication skills between tenants and property owners or the management staff. Tenants and property owners should be able to reach the manager for non-emergency and emergency issues all the same. Therefore, both written and verbal communication skills are required to maintain a professional demeanor in handling any difficult situation or perhaps simple notifications throughout the management term.
2. People-Oriented
Based on our decades of experience, Barker Realty has learned that people-oriented managers interact with tenants more efficiently. Any property management service provider needs to place quality and competent tenants into residences.
3. Trustworthy and Ethical
An excellent management company is transparent and honest. The property management profession requires trustworthiness, responsiveness, and full disclosure for the owners in how the tenants are being treated and processes are being followed. At Barker Realty, this is what we stand for — to build long-lasting relationships with our clients.
4. Knowledgeable and Experienced
Property managers should be able to interpret financial reports quickly and be able to decipher between a reliable tenant compared to one who may not be the right fit. Additionally, all property managers should be conversant with the latest real estate regulations and property ownership laws. It is recommended to take the appropriate time to perform due diligence and interviews with your prospective managers to also make sure they are a fit for you and your investment portfolio.
5. Marketing Skills
At Barker Realty, we know that marketing of our client’s properties is crucial to the success of the relationship. Your property managers should be good at marketing, including social media advertising and being able to show up online when people are searching for a new place to rent. They should work with local employers and institutions, including universities and hospitals, to provide housing for students and employees and also those relocating to a bustling area like the Raleigh-Triangle.
6. Organized
An organized manager pays keen attention to details and they DO sweat the small stuff to ensure your property is managed properly. Being able to enhance proper maintenance of your property throughout the year, keep paperwork readily available, and check in with tenants are tasks which help your property thrive.
If you own property or are looking to invest in property in the Raleigh area, consider the above in your search for a reputable local property management company like Barker Realty. It’s important to get a knowledgeable and success-oriented team on your side.
The Raleigh economy is booming! Thousands of people are moving to the city to enjoy the abundant job opportunities, excellent school systems, and unique attractions. The influx of people has made Raleigh real estate more in-demand than ever–meaning real estate investors can rehab homes quickly and sell them for a big profit. Properties can also be rented out, bringing in a monthly income while they appreciate. If you’re ready to get in on the action, here are some real estate tips that can help you find a Raleigh investment property.
Finding your Raleigh investment property
When the price of Raleigh real estate bottomed out in 2012, it was easy to find homes. Now, in 2019, it’s much more challenging. Three ways real estate investors can get a reduced price on homes to include:
Buying homes in need of repairs
Paying in cash
Buying homes that aren’t listed
Another solid way to find investment homes is working with a real estate investment company. A property management firm like Barker Realty can help you find the best deals and options in the area.
If you can, pay with cash
It’s true that few people can afford to make a full cash offer on an investment property. However, if you can you should. Whether you are purchasing property to rent out or purchasing to renovate and flip, you are unlikely to see a great return in the first two years of your investment, and the monthly financial impact of the loan payments can be significant.
Qualifying for financing may also be difficult for some people. You will need to have good credit and will have to provide several years of tax returns and other financial evidence to demonstrate that you can afford the home. If you are purchasing the home to flip or rent, you’ll need at least 20% as a down payment, and you will need to provide your lender with a much deeper look into your personal financial history. In order to avoid borrowing too much, investigate all your options with your realtor and a financial advisor.
Finding quality tenants
If you are purchasing a property with the intention of renting it out, consider whether you will have the time or the energy to find, vet, and manage your tenants. Many landlords find that finding respectful, quiet, financially responsible tenants is quite challenging and time-consuming. In some cases, using a property management company is the best solution, so you can continue to run other businesses or look for new investment opportunities. A property management company can manage the property’s daily tasks and maintenance for a small monthly feed.
Hire a Raleigh real estate investment company
Ready to find your dream property? Just call Barker Realty, and we’ll be happy to start you on the process.
When preparing rental properties for the summer, there’s a lot that needs to be done in terms of maintenance on the inside and outside of the property. Property managers in Cary should use this time to give their property a pre-summer makeover that will make the rental more attractive to anyone hoping to move in.
Summer-Ready Maintenance Tips
There’s no other season quite like summer that inspires families and friends to spend a lot of time outdoors. By taking care of their property and making it look its best, property managers will instantly boost the rental’s property value, while making renters feel at home. Read on for ways to make any rental summer-ready.
1. Get the Pool Ready
The pool is one of the most important amenities property managers must take care of before the summer arrives. Start by evaluating the condition of the pool and performing any necessary maintenance. Following any remodeling, managers should make sure the pool is clean and ready to use. Ensure the area around the pool is as safe as possible by either having a lifeguard available or signs posted.
2. Check the BBQ Grills
As the colder weather gives way to the warmer months of summer, property managers will want to make sure all of the grills are still in proper working condition. By keeping the propane filled and the grill clean, managers will ensure that renters can enjoy their summertime properly.
3. Keep a Maintenance Checklist Handy
Summer requires a different type of rental maintenance for property managers in Cary. Property managers should keep this in mind as they go over their regular maintenance checklist. This list will include maintaining the irrigation system, updating the A/C units, cleaning the community area, and any similar responsibilities.
4. Remove Fire Hazards
The heat of summer always comes with increased fire dangers. Property managers must take this into account by fire-safety apart of their summer rental maintenance. This can be achieved by removing any overhanging branches, flammable debris, or overgrown bushes.
Property managers can make their renters feel at ease and relaxed as summer approaches by performing their rental maintenance for the summer. Contact us for more information to help get your rental ready for the warmer months.
Managers are some of the most critical team members in any company offering property management services. Just like any other company, safety and security of your team should always be top priority.
The roles assigned to managers, including showing properties and homes to strangers, is somewhat unsafe when you think about it, and property managers are expected to perform their duties as well as take precautions to minimize risks that come with the job.
Below are 10 safety tips that our property managers at Barker Realty follow before going into the field, which we’d like to share with you.
1. Gather Information about the Client
Collecting information before meeting any client is crucial. The info might reveal whether a client poses any threat or has any ill motive towards you or your company. Proper screening of clients can help you collect relevant client information.
2. Meet Clients at the Office
The first meeting with a client should always be at the company offices. You get first impressions and get to judge their character. Collecting information about a potential client including where they work and their current home address will be more comfortable in the office.
3. Be Cautious
Always leave valuables at homes or the workplace. Also, avoid giving too much personal information to your client.
4. Follow Company Financial Policy
Always let clients know the company financial policy. Rent and security deposits should be paid directly to the company’s bank accounts. Also, avoid handling too much cash in front of a client.
5. Be Assertive
If you feel uncomfortable around a client, excuse yourself. Get to a safe place and inform a trusted co-worker. In this business, it’s recommendable that you always trust your instincts.
6. Maintain a Good Relationship with Co-Workers
Always ensure you have someone on standby who knows your schedules for the day. A trusted colleague or your boss may prove very helpful. In case of you don’t return on time, they will know how to locate you.
7. Always Play Safe
Avoid going into basements, attics or closets. Open the door to a room, allow clients to go first as you follow them behind.
8. Let Clients Know Your Schedule
If you have other appointments, let your clients know that other people are expecting you. Show your client how important your job is to you in a friendly way.
9. Use Surveillance Equipment
Install CCTV cameras on your office premises. Cameras will be useful for facial recognition of clients who walk in out of the office premises. Surveillance adds protection the property by identifying threats fast.
10. Attend Training Seminars
Most companies that offer property management services have safety and work conduct seminars. Attend these workshops to improve your knowledge base.
If you have additional questions or looking for an excellent property management service provider, look no further. Request an appointment today with our Apex property managers full of experience and expertise, especially when it comes to remaining safe in the field.
There are many people who are interested in investing in rental property as it can be a great financial move for a variety of reasons. Not only can investors make money off of monthly cash flow from the collected rent, but there is also financial benefit in the equity appreciation build-up over time. You are essentially having someone else pay your mortgage and insurance on a piece of property that can retain value or appreciate, especially in the Raleigh-Triangle market.
At Barker Realty, our property management company highly recommends conducting research before investing in real estate in your area to make sure it will be a great fit for your business or you personally. Talk with others. Talk with experts. Learn as much as you can about how investing in rental property could be a game changer for you and your portfolio. Here are some tips to help you along the way!
Find a Rental Property
The best rental properties are in areas that are growing rapidly. The biggest predictor of future price appreciation in an area is the growth of the population. In addition, a growing population will have many renters who are willing to live in your property.
With the competitive real estate market, it may be difficult to find a rental property that meets your needs. You should look for a property that will produce positive cash flow every month. You need to plan out your expenses with the property and then look at what the home will rent for. Hiring property managers is part of the rental process. These costs need to be accounted for as well.
Financing
Real estate investors need to understand how to use financing options for their benefit. Financing is the best way to purchase a rental property if you do not have the cash to do so. Some real estate investors borrow too much money and get into financial trouble. Instead of doing this, borrow money in a conservative way. This will help you reduce the overall risk that you have in an investment.
A good property management company can help you find the right loan for you. Many people who work for a property management company have years of experience in the real estate field.
Hiring Help
No one wants to answer calls in the middle of the night from tenants. Hiring property managers is the best way to reduce your stress while owning a property. You need to look at online reviews before making a decision on the company that you want to work with. You should work with a company that has quality customer service and support at all hours.
Rental property can help you get to the next level in your finances. However, be realistic with yourself. It’s not easy and it is not a way to get rich quickly, but it will help you build wealth over time when done the right way. With the strong housing market, now is a great time to look for an investment property in your area.
Contact Barker Realty today for more information about investing in real estate, rental properties, and overall property management services.
There are many excellent reasons to work with Barker Realty when you need professional management for your rental property in Raleigh. Today, we’re focusing on the three top reasons to consider hiring us to take care of anything your investment property needs.
Property Management Raleigh: Experience
Barker Realty is an experienced property management company. We have successfully managed and maintained rental properties in Raleigh and the Triangle since 1984. Our property managers are all licensed North Carolina Realtors with skill, experience, expertise, and persistence.
Property Management Raleigh: Excellence
All of our property managers and team members work hard to maintain high standards. We insist on excellence while we promote, position, and protect your property. For example, we use metrics to track the efficiency of our advertising and our lead management system. We can provide reports specific to your property’s activities at any time, and it can be as detailed as you need. We are also rigorous with our screening process. All of our tenant screening starts with extensive background checks, and we strive to place only the most well qualified residents in your home. During the course of the tenancy and between lease periods, we advise you about the necessary repairs that are needed at your home, and we maintain your property well to attract the best tenants and the highest rents.
Raleigh Property Management: Owner-Focused
As your Raleigh property manager, our responsibility is always to you – the owner. We work to minimize your expenses and maximize the value of your investment. We use a strong, enforceable lease which is comprehensive and includes a number of house rules we have developed over our 33 years of property management experience.
Please consider us for all your Raleigh property management needs. We would appreciate the opportunity to add value to your property with all of our expertise and local market knowledge. Contact us at Barker Realty; we look forward to hearing from you.
