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.
Barker Realty proudly serves the Wake County area, including Raleigh, Cary, Apex, Wake Forest, Fuquay Varina, Clayton, Knightdale, Garner, Holly Springs, Zebulon, and Wendell.
Barker Realty has been in the Triangle real estate market since 1984. Let’s discuss the property management services we offer to Triangle area investors, and what we can do to help you be more successful with your rental property.
Property Management Raleigh: Marketing
We will market your property in several strategic ways. We will list it on the Triangle Multiple Listing Service, market it on various rental websites, our own Barker Realty website, and we’ll post rental signs at your property in attention-grabbing locations. We have a dedicated showing agent who will arrange to show your property to prospective tenants. We also have several trained staff members who will handle any inquiries that come in about your property.
Property Management Raleigh: Leasing
When prospective tenants are seriously interested, we solicit and process all applications. Our screening process is thorough and rigorous. We include a credit check and a criminal background check. We also conduct rental verifications with current and previous landlords. We ask for verification of income and employment as well. Once we find and approve a qualified tenant, we prepare lease documents for your tenant before move in. Also, we ensure your property is move in ready by performing move in inspections to document the condition of your home.
Property Management Raleigh: Tenant Occupancy
During occupancy, we take care of any tenant issues that arise. We will collect rent, identify maintenance issues, respond to repair requests, and be available to you and your tenants to answer any questions or handle any issues. At the end of the lease term, we conduct a move out inspection to compare to the move in inspection and prepare a list of needed repairs between tenants. We then process the security deposit itemization according to the North Carolina Security Deposit Act.
These are just a few of the things your property manager might handle on a daily basis. When you work with us, you can be confident that we’ll be the eyes and ears for your investment. Contact us at Barker Realty if you have any questions or if you’d like to hear more about our property management services in Wake County.
Some real estate investors, particularly new ones, see hiring property managers or a property management company as an unnecessary expense. But, they can actually be a huge benefit to your income.
Here are four important reasons to hire a property management company to oversee your rental property:
1. Set the Best Rent for Your Property
You could spend hours, days, or even weeks scrolling rental listings to try and find comparable properties and the rent they’re getting. But a local real estate management company will have a good handle on the local market and be able to tell you how much to charge to ensure that you not only get quality tenants and low turnover but also get the most income out of your property. Plus, property management companies have access to professional sources such as MLS (multiple listing service).
2. Market, Advertise and Show Your Property
Managing your property alone you can spend hours every week crafting ads, fielding phone calls, text messages and emails about the property, and showing the home to prospective tenants. Unless the rental property is your full-time job, this takes time away from your family, work, and downtime. Property managers do this every day. They have the experience and knowledge to quickly create ads, and it is their full-time job to answer prospective tenant questions and show the home. This frees up your time, and also provides more flexibility to the prospective tenant, as they don’t have to work around your schedule.
3. Manage Vendor Relationships
Plumbers, electricians, appliance repair technicians – at some point, they’re all going to need to come to your rental property to repair or replace something, whether it’s through tenant damage or simple wear and tear. As a real estate investor, you’ll always get the same rate that any other private party would get. A property manager, however, may get a discount because they manage so many properties and can give an extensive amount of work to the vendor. You’ll save money and get high-quality repairs through vetted vendors.
4. Ensure Compliance with Housing Regulations and Property Laws
As a real estate investor, you likely did your research before you started. But the regulations and laws can be exhausting, confusing, constantly changing and hard to read. A property management company will be thoroughly familiar with all the regulations and laws, and they will ensure that you comply with them all.
Give Barker Realty a call today to see how we can help!
Some real estate investors, particularly new ones, see hiring property managers or a property management company as an unnecessary expense. But, they can actually be a huge benefit to your income.
Here are four important reasons to hire a property management company to oversee your rental property:
1. Set the Best Rent for Your Property
You could spend hours, days, or even weeks scrolling the classifieds to try to find comparable properties and the rent they’re getting. But a local real estate management company will have a good handle on the local market and be able to tell you how much to charge to ensure that you not only get quality tenants and low turnover but also get the most income out of your property. Plus, property management companies have access to professional sources such as MLS (multiple listing service).
2. Market, Advertise and Show Your Property
Real estate investors, managing your property alone, can spend hours every week crafting ads, fielding phone calls, text messages and emails about the property, and showing the home to prospective tenants. Unless the rental property is your full-time job, this takes time away from your family, work, and downtime. Property managers do this every day. They have the experience and knowledge to quickly create ads, and it is their full-time job to answer prospective tenant questions and show the home. This frees up your time, and also provides more flexibility to the prospective tenant, as they don’t have to work around your schedule.
3. Manage Vendor Relationships
Plumbers, electricians, appliance repair technicians – at some point, they’re all going to need to come to your rental property to repair or replace something, whether it’s through tenant damage or simple wear and tear. As a real estate investor, you’ll always get the same rate that any other private party would get. A property manager, however, may get a discount because they manage so many properties and can give an extensive amount of work to the vendor. You’ll save money and get high-quality repairs through vetted vendors.
4. Ensure Compliance with Housing Regulations and Property Laws
As a real estate investor, you likely did your research before you started. But the regulations and laws can be exhausting, confusing, constantly changing and hard to read. A property management company will be thoroughly familiar with all the regulations and laws, and they will ensure that you comply with them all.
Give Barker Realty a call today to see how we can help!
Let’s run through an all too common scenario with real estate investors in the past…
You have a rental property worth $200,000, but you would like to sell it and buy a different one worth slightly more. The property will be used in the same manner as its predecessor. Usually, you would incur a tax liability from the net proceeds, leaving you with less capital for your intended investment.
That was until the introduction of the 1031 Tax Deferred Exchange that allows a real estate investor to defer capital gains tax liability, effectively releasing more money to you for investment. A full deferral means that you will invest the entire net proceeds in the exchange property, effectively dictating that the replacement be of equal value or worth more than the original.
Let us explain further…
What Does This Exchange Mean?
Section 1031 of Internal Revenue Service Code allows you as a real estate investor to defer your tax liability when you dispose of one property and invest in another of the same nature. The said property must be the used for trade to generate income.
What Are The Conditions For A 1031 Exchange?
The law states that the exchange property should be like-kind, meaning it should resemble the sale property in nature and character rather than quality. You can spread the net proceeds over one or more exchange properties.
Like-kind property considered in the deferral plan include:
Exchanging an unimproved property for an improved one.
Exchanging a single family rental unit for a multi-family one.
Selling a vacant piece of land to buy a commercial building.
Selling an industrial property to buy rental property in a resort area.
Personal property does not qualify for 1031 unless for productive use in business or trade.
In a full tax deferral, you are expected to invest the entire net proceeds in an exchange property.
Timelines
A real estate investor must adhere to strict deadlines if they are to benefit from this tax deferral plan. You should identify an exchange property within 45 calendar days of closing on of the sale property. After determining the replacement property, you should close the deal within 180 calendar days of closing the previous investment.
Practically, say you sold your property on January 1, 2017. The identification period ends on February 15, 2017, while the exchange period ends on June 30, 2017. If you fail to close the deal within that time limit, you lose your deferral privilege.
We are an experienced Raleigh property management company that would like to see you take advantage of this tax deferral. Talk with Barker Realty today for more information on 1031 Exchanges and managing your rental properties with ease!
A sublease is an agreement that is made between the tenant and a third party. The original tenant will become the landlord to the person who is subleasing the home or apartment. Every local property manager needs to know if their tenants are subleasing.
There are many problems that a Raleigh property management company can have if someone is subleasing the apartment. For example, you can end up with an unapproved person living on your property. You may also have a tenant who decides to leave unannounced and not pay the rent.
Why a Tenant May Decide to Sublease
Many tenants decide to sublease if they are going to be away from their home for an extended period of time. Others have to move out of their home before the lease is up. Subleasing may be a good option because it allows the tenant to continue their obligations while they are away.
Risks of Subletting
Every local property manager needs to be aware of the fact that subleasing has its risks. Property managers spend a lot of time making sure that they properly screen people. However, if the original tenant is not living in the home, then you may not know who is living on your property. You may also have a big mess if the person who is subleasing decides to move out.
Benefits of Subletting
Property management services can sometimes benefit from subletting. It helps rent payments continue, and the property stays occupied. Property managers can also save time and money.
Should a Landlord Allow Subletting?
Most places allow subletting. It is a good idea to check the laws in your area to make sure that it is legal for you to do this. You should make sure that your lease has a subleasing clause.
If you are in need of property management services, then you can contact us.
