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.
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.
Our Raleigh NC property managers have been in the business of taking care of homes for a long time, and with winter coming, they have a few simple tips that can keep units snug and dry. Just a few hours of preventative work while the weather is still warm can help avoid major headaches in the colder months.
1. Clean Gutters and Window Wells
This is one of the simplest maintenance tricks, and one of the most effective. Whether tackling this chore yourself or reaching out to your local Raleigh property management team, it is an important step for winter readiness. A dirty gutter and window wells will hold ice and snow, block drainage, and cause overflow. This can cause long term damage and even encourage mold growth. A simple cleanup avoids all these problems.
2. Sump Pump Maintenance
Another area where prevention will lead to savings is sump pump maintenance. Raleigh NC property managers can help to locate the exit pipe and clear it of debris. The pipe should also be far enough from the home to not direct water right back into the building’s foundation, which can cause mold or decay. It’s also important to test the pump itself by pouring water into the pump pit and seeing if the pump turns on – and then off – appropriately.
3. Electrical System Maintenance
Winter often puts added strain on electrical systems. The longer nights and shorter days mean lights are on for far longer than summer. Many heating systems also add to the load. Our Raleigh property management team recommends that homeowners and tenants alike take a quick look at their main electrical panel – or calls the management team to do so – to check for sparks, frayed insulation, or other obvious signs of wear and tear. A multi-meter tool is also helpful in testing that outlets are all in working order.
4. Bleed Radiators
This is a simple procedure worth doing at least once per year. After running the radiators at max temp for just a few minutes, turn the boiler back off and start bleeding radiators one by one. As air is being released, use a bucket or tray underneath to catch any stray water. Once each radiator has been bled, check the air pressure in the boiler itself. It’s as simple as that!
5. Examine Doors and Windows
Poorly fitting doors and windows let out an enormous amount of heat. Doing a quick check of each opening for leaks, gaps, and other defects allows you to schedule any fixes prior to the arrival of cold weather, saving both money and future discomfort.
6. Weatherproof Pipes
The extreme cold can cause pipes to freeze, and then to sometimes burst upon thawing. This is an expensive problem that simple maintenance can avoid. Rather than wait for an expensive break, check pipes in fall for any signs of cracking or wear. A plumber can be called in for a non-emergency fix if needed, but even if no obvious damage is observed insulating tape can be wrapped around outdoor pipes for extra protection against the elements.
7. Chimney and Fireplace Inspections & Sweep
Whether you have a gas fireplace or a wood burning fireplace, you should have your fireplace and chimney inspected on an annual basis and cleaned as well, especially if you burn a lot. Keeping a clean chimney reduces the need for a Raleigh chimney repair company to need to fix any issues. You can stay ahead of any concerns which may arise when you haven’t had the system checked regularly.
Simple and quick maintenance is the key to avoiding time-consuming and expensive repairs. Though many of these fixes can be done by a handy person, the simpler solution for anyone with a demanding schedule is to simply search for property management near me and let professionals take the lead.
Breathing new life into the outward appearance of your home is sometimes easier said than done. However, there are simple ways that you can jazz up your home’s aesthetic without bending over backward. As you make these changes, your house will look more appealing, which will help you lease your property faster. For guidance on how to improve curb appeal, below are some tips from our property managers in Raleigh.
1. Tend To Your Lawn
An unkempt lawn is an eyesore. Trimming your hedges, mowing your grass, and pulling your weeds will improve your curb appeal drastically. If you don’t have a green thumb, hire experts. With their professional touch, your lawn will look perfectly manicured in no time.
2. Clean Your Windows
From smudges and water spots to grime and debris, windows collect all kinds of blemishes. With a simple cleaning solution, you can bid farewell to your dirty windows. With some squeaky clean panes, your house will look fresh and sparkling.
3. Clean Your Driveway
As local property managers, we know how unappealing driveways can look over time. Filling in cracks and correcting discoloration will upgrade your home tremendously. Go the extra mile by painting your driveway a natural color. Gray, black, and brown are some suitable options.
4. Enhance Your Entrance
One surefire way to make your home more aesthetically pleasing is by adding pizzaz to your front door. Painting your door is always an option, but you can also add a wreath, put out plants, and install light fixtures to make your entrance more inviting.
Work with Our Leading Property Managers In Raleigh Today
If you want your property to lease fast, heed the above advice. For more information on how you can improve your home’s curb appeal, speak with one of our specialists. With our expertise and experience, we know what it takes to achieve that extra wow factor.
Today, many local property investors are millennials than the baby boomers generation. However, this has not been an easy walk for the millennials, especially those buying houses for the first time in North Carolina. Whether they’re looking for homes to live or looking to be local property investors, many face financial hurdles.
Most millennials homebuyers have a bad credit score and negative debt-to-income ratios. So, how can the Millennials be part of Raleigh NC property investors? Here are a few tips to look at.
Tip# 1 Improving Their Credit Score
Credit score affects the amount of mortgage loan millennials can access and the interest rate they will be charged for the loan. A good credit score means easy access to a mortgage loan with low-interest repayment rates.
Millennials with low credit scores should consider the following to increase their credit scores:
Prioritize to pay the highest interest debts. These could be credit card debts or any other debt from a financial institution.
Advise their family members who wish to gift them to help in paying off any lingering debt.
After they are done with clearing debts, they can start saving for a down payment for their favorite house.
Tip# 2 Searching For a House Within Their Budget
The increasing prices for properties is a challenge for the millennials. They should avoid falling for the temptation of buying a home that is not within their price range. Millennials should understand that other financial goals, such as a retirement plan, should not be sacrificed.
It is advisable to search for a property investor near me who is selling a home for an opportunity to choose the most suitable property.
Tip# 3 Millennial Homebuyers Should Learn to Negotiate
Buying a home is like any other business transaction. It is, therefore, crucial that millennials home buyers should master how to negotiate. Millennials’ home buyers can negotiate to have the old and faulty fittings in a home be remodeled at the seller’s cost. Alternatively, they can ask the property investor near me to bring down the house’s price, saving them some dollars.
Contact Barker Realty today to discuss how we help many Raleigh NC property investors manage their properties and keep cashflow steady.
