by Barker Realty, Inc. | Mar 5, 2019 | Local Property Management, Property Management Company, Raleigh Investment Property, Raleigh Property Management
When you are searching for a Raleigh NC property management company to take care of your investment property, here are a few essential qualities to look for.
Responsiveness
If a major issue arises in your investment property, such as a water main break or serious storm damage, you will want a company that is available 24/7 and able to communicate in a quick and timely manner. Look for a property management company that always gets back to you promptly.
Experience
When you are researching your property management options, be sure to inquire as to the number of clients the company has served and how many years it has been in business. A property management company that has experience managing multiple, diverse properties over a long period of time will be much more capable than a company which has only managed one or two.
Accounting Services
One of the best advantages of hiring an investment property management company is that it can manage rental fees, contractor payments, and miscellaneous financial elements for you. For this reason, when you meet with a potential company, be sure to inquire as to the financial or accounting services it offers.
Partner with a Raleigh NC Property Management Company Today
Barker Realty, Inc. is a full-service real estate brokerage firm with more than thirty years of experience in Raleigh NC property management. Whether you are interested in buying, selling, or investing, let us put our vast resources behind you and your real estate goals. To set up an appointment with one of our skilled property managers, click here.
by Barker Realty, Inc. | Feb 19, 2019 | Property Management Blog, Property Selection, Raleigh Investment Property, Raleigh Property Management
Raleigh is a booming city with a lot to offer. Its abundant attractions, high-quality school systems, and convenient central location earned it a #3 spot on WalletHub’s list of 2019’s Best State Capitals to Live In this year–the latest in a long list of accolades. WalletHub compared 54 key indicators of affordability, economic well-being, quality of education and health, and quality of life to reach its conclusion. Read on to learn why Raleigh is the perfect place to grow a career or raise a family.
Raleigh’s thriving economy
Raleigh’s economy is diverse and growing. It’s home to major employers like Duke University and Health System, Wake County Public Schools, and Duke Energy Progress. A major hub of science, research, and technology, Raleigh has no shortage of business opportunities. The city’s favorable tax laws make it easy to start a new business.
Raleigh real estate: affordable luxury
Raleigh real estate has been significantly increasing in value over the past few years. Since 2011, the average price of a home in Raleigh has doubled. However, Raleigh real estate is still more affordable than housing in the vast majority of US cities. The thriving real estate market is one of the reasons why so many people are investing in the city.
Top Raleigh schools
Raleigh is home to over 11 colleges and universities, including North Carolina State University, a major research center. Raleigh’s public school system has been nationally recognized for its diversity and innovation, and there are many excellent private schools, charter schools, and early college schools to choose from.
Recreation & activities
Anyone who enjoys being outside will love Raleigh’s mild weather and an abundance of recreational opportunities. Residents can bike, stroll, jog or play ball at many parks and community centers, or hike the mountains close to the area. As for indoor activities, there are countless museums, restaurants, theatres, and historic buildings to explore.
Invest in Raleigh real estate today
With so much to see and do, it’s easy to see why Raleigh was named one of the top places to live. If you’re interested in investing in Raleigh real estate, be sure to call the team at Barker Realty, and one of our associates will be happy to assist you!
by Barker Realty, Inc. | Oct 4, 2018 | Property Selection, Raleigh Investment Property, Raleigh Property Management, Tips for Property Investors
It’s time to invest in Raleigh real estate
Raleigh is a booming city that offers numerous amenities and business opportunities to its residents. In fact, Forbes recently named it one of the best places in the country to start a career. Here’s why now’s the best time to start planning your move to Raleigh, or even invest in some Raleigh real estate!
Business is booming
As the economy improves, the price of Raleigh real estate has increased drastically, as has the pricing in the surrounding towns and cities like Cary, Apex, Holly Springs, Durham, Chapel Hill, and Wake Forest. Even though the cost of living has substantially increased, however, it’s still relatively affordable when compared to other major cities in the United States. Since the property values are likely to continue increasing, now’s the perfect time to buy a Raleigh home or apartment, in order to reap big benefits later.
Why you should raise your family in Raleigh
Not only does Raleigh have great business opportunities, but it’s also a great place to raise a family. Many of the schools in the city and surrounding towns are nationally-ranked, and there are plenty of public and private options to choose from. In addition, the abundance of parks, trails, museums, historical attractions, and shopping centers means there’s plenty of things to do for everyone. Raleigh’s robust infrastructure and continued improvements and additions to roads and highways make it easy to navigate.
How to locate the right investment property
There’s only one downside to Raleigh’s increasing popularity–the real estate market is extremely competitive. According to state data, Wake County is growing around a net of 63 people per day, and every day, thousands of people search for homes. Anyone who wants to purchase real estate in Raleigh or the surrounding markets must be prepared to act quickly and come in with a strong offer–and an experienced Raleigh property management company like Barker Realty can help. Contact us today for more information concerning trends in the real estate market and strategies that will help you find your perfect property for a fair price.
by Barker Realty, Inc. | Jul 20, 2018 | Property Management Blog, Raleigh Investment Property, Taxes & Financing, Tips for Property Investors
It is important for rental property owners to know and understand how to manage cash flow. Cash flow is an important item in your budget that allows you to project income over the year. As an investment property owner you may find out your profit is 8% after expenses when it should be, say 10%. As an investor, you may come to a conclusion that a particular property will not be profitable, and it may be better to invest money elsewhere. Your cash flow creates opportunities as well as explained below.
Investors who are looking to refinance or sell a property also need to have a consistent stream of income. Properties that have a strong cash flow are more attractive to investors. Buyers may ask to see a rent roll in order to confirm that the rent has been consistently paid showing properties are in good standing and helps build investor confidence.
If you have a larger property, then a dip in cash flow may not hurt you much. They usually have enough income coming into to deal with dips. However, it can be difficult to manage cash flow at a single rental property versus a portfolio with multiple properties as dips are harder to take and overcome.
Our team at Barker Realty helps our property managers and also our clients who invest in properties work to understand and maximize cash flow for each and every property.
Reduce the Impact of Vacancies
You will likely have vacancies at some point. You can reduce the impact of vacancies by including a marginal vacancy rate in your budget. If you do not have a vacancy, then you will be able to offset unexpected costs.
Stagger Lease Expirations
Many property managers are tempted to have all of their leases on the same schedule. However, this may cause a cash flow problem if people move out, and their unit is not re-rented. Change the dates so that you are not hit with multiple vacancies at one time.
Review Your Contracts
If it has been a long time since you reviewed your property management contracts, then now is the time to do so. Have your insurance premiums increased? Is it time to refinance? Is your mortgage interest rate competitive with other rates? Are you getting the best rate for your service? Those are some of the key questions you need to ask yourself.
All recurring expenses you have should be evaluated in order to determine if you are getting the best rates. You will be able to increase your cash flow by reducing your monthly costs and our team of investment property managers in Apex is ready to help. Contact us today for more information or to schedule a meeting!
