by Barker Realty, Inc. | Aug 4, 2020 | Barker Realty, Property Management Company, Tips for Property Investors
The real estate sector is lucrative. If you own property in different states, you can turn one of the houses into a rental home. Such financial decisions help people generate passive income as they pay for other assets they expect to own in the near future.
The Raleigh NC property manager will be tasked with looking for tenants and also managing them. Before hiring a property management company in Raleigh, you should always ask the following questions:
1. Ask about how you will receive the rental income.
The Raleigh NC property manager will be tasked with collecting the rent. Always ask the property managers near me when and how they plan to collect the rent. Each property manager will have a unique way to distribute the rental income after collecting it. For instance, some property management firms may distribute the rental income on the 10th of every month.
2. Ask about the property management charges.
The property management company in Raleigh will charge for the services offered. In this case, the property management firm will collect rental income and oversee the maintenance processes. Once you are knowledgeable about the property management charges, you can calculate the expected income from your property.
3. How often will the property be inspected?
After hiring a property manager, you have entrusted them with your property. They are supposed to oversee everything ranging from inspecting and maintaining the property. It is important to ask the property manager about the number of times they will be inspecting the property.
The property should be inspected at least twice each year. During the inspection process, it will be possible to look into whether there is any maintenance required.
4. How will the property management firm handle the maintenance processes?
As a landlord, you are assured of maintenance requests and taxes. As you hire a property management firm, you should inquire about how they usually handle the maintenance process regarding price, quality, and other issues. Make sure the property manager is in a position to ensure the maintenance is done cost-effectively and efficiently.
There are property management firms that have a maintenance team. Such companies usually keep track of everything, and they also offer quality services. They are also cost-effective.
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. | Feb 4, 2020 | Property Management Blog, Tenant Management, Tips for Landlords, Tips for Property Investors
If you own investment property in Raleigh, you don’t need us to tell you how stressful it can be. Keeping your property maintained, acquiring new tenants, and managing the ones you have can take a toll on landlords, especially those who are operating alone. However, if you want to be successful, stress management isn’t an option—it’s a necessary part of your overall business strategy. If you can’t find ways to relax and recharge, you won’t be able to give your best to your tenants or your investment. Below are some ways to relax and refocus from our Raleigh property managers.
Become a Master Prioritizer
If you haven’t mastered prioritization yet, now’s the time to make it, well, a priority. If you try to do every single thing on your list, you’ll quickly become overwhelmed. Instead, highlight the top five, or even top three items you’d like to accomplish in a day, and focus only on these. If even that is too overwhelming, go even smaller: highlight the one most crucial thing on your list, and tackle that before moving on to the next.
Take Note of What’s Going Right
As a landlord, it’s easy to get caught up in all the things that are behind schedule, unfilled, or in need of repair. One good way to reduce your stress level is to try focusing on the things that are going right. A pen and a piece of paper are all you need—physically writing down your successes at the end of each day will help you have something concrete to focus on when things get tough.
Take Periodic Breaks
If you find yourself spinning your wheels and not getting anywhere, step away from the desk (and phone, and email). As a property owner, you’re your own boss, so take advantage of it! Take a long walk; sit on a bench and soak in some Vitamin D; or run a small errand—anything that takes your mind off of work. Once you’re refreshed, you’ll be better equipped to tackle the challenge anew.
Delegate, Delegate, Delegate
If running your investment property is driving you crazy, maybe it’s time to acquire some helping hands. Accountants can help you keep your books straight; marketing companies can help you reach new prospective tenants; and landscaping companies can keep the grounds clean.
Most importantly, a property management company can handle all of people the above, plus your tenants, and all the day-to-day tasks that are currently eating up your schedule. If you need a property management company in Raleigh, call Barker Realty, Inc. for a consultation appointment, and get ready for a more controlled, relaxing life!
by Barker Realty, Inc. | Jan 21, 2020 | Tenant Acquisition, Tenant Management, Tips for Landlords, Tips for Property Investors
If you’re a Raleigh rental property owner, amenities are a must if you want to attract quality tenants. And in a competitive market, going above and beyond the usual pool, fitness center, and laundry room will set your rental property apart from the rest. Below are a few unique amenity ideas to consider adding to your apartment building, condominium, or single-family home in Raleigh.
Pet-Friendly Additions
With more and more millennials choosing pets over kids, pet-friendly amenities are a must if you want to attract young professionals to your property. Popular amenities for pet owners include doggie waste bag dispensers, doggie playgrounds, and walking trails. If you’ve got a big budget to work with, you can go one further by adding complimentary dog walking, grooming, and day-care services on-site.
Playrooms for Kids
Of course, it’s important to also cater to those who do have kids. Instead of just having an outdoor play area—a great draw on its own—you can up the ante by offering an indoor playroom, too. Playrooms that are adjacent to, and visible from, the fitness center are a great way to let parents work out while keeping an eye on things, and it will provide a place for kids to burn off their extra energy that isn’t over your other tenants’ heads.
Community Garden
A community garden is a great way to bring residents together to grow sustainable, zero-packaging food at home. Condominium and apartment residents especially will appreciate the opportunity to enjoy the outdoors despite lacking a backyard. You can make your investment property even more eco-friendly by setting up compost bins, rainwater collectors, and solar-powered lighting. Let young, eco-savvy renters know that your property is different from the rest!
Tech Centers
Facility-wide internet access is an absolute must in modern housing communities. But don’t just stop there—consider providing a quiet space where residents can work remotely when the need arises. A shared printer, coffee pot, multi-port USB charger, and a nice plant can help create a peaceful, useful workplace. You might even consider stocking basic office supplies such as staplers, though they may be at risk of theft.
Prayer/Meditation Room
Many modern properties are adding interfaith “quiet rooms” to their properties, where people of all belief systems can reflect, pray, meditate, or practice calming techniques. You might include a small library of books; comfortable chairs; devotional literature; prayer rugs; or even yoga mats. Amenities like this are a great way to catch renters’ attention which show that you are devoted to their health and well-being.
Need a Property Management Company in Raleigh?
If you’re considering purchasing rental property in Raleigh, an experienced property management company can help! Our experienced property managers can help you choose a smart investment that will appreciate, and then help you manage tenant relationships, property maintenance, and more. If you’re ready to become a Raleigh landlord, call Barker Realty today.
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. | Aug 6, 2019 | Property Management Blog, Raleigh Investment Property, Raleigh Property Management, Tips for Property Investors
Raleigh’s thriving real estate boom and abundant career opportunities are drawing young professionals here from all over the country. But what are those jobs, exactly? To find out exactly what Raleigh employees are up to, we took a look at the Bureau of Labor Statistic’s 2018 report, which analyzed 629,570 Raleigh occupations. Below are some of the top industries in the City of Oaks.
Construction and Extraction – 28,420
With so many houses and rental properties going up everywhere you look, it’s no wonder that construction is the 10th most common occupation in Raleigh. Anyone who works in construction and development will find steady business here—from roofing, to flooring, to real estate and beyond.
Management – 31,060
Due to its centralized location and various other benefits, Raleigh is full of business opportunities, and is therefore host to plenty of advertisers, marketers, and managers. If you work in anything corporate or management-related, you’ll never find yourself without job options in Raleigh.
Computer & Mathematics – 35,840
With three major research universities within about an hour of each other, Raleigh is a major hub for science, research, and technology. In fact, Raleigh is smack dab in the middle of an area referred to as the “Research Triangle.” Scientists, students, and researchers flock to this area from all over the world to develop innovations that change lives.
Transportation & Material Moving – 36,450
As we mentioned, one of the best things about Raleigh is its ideal centralized location. To put things in perspective, it takes about 6 hours to drive from Raleigh to Atlanta, and 4 hours to drive from here to Washington D.C.—meaning that whether you’re going North or South, you will probably pass through Raleigh. Similarly, if you’re going across the state from Wilmington to Asheville, or vice versa, you will be able to pass through Raleigh, too. To sum up, all this makes Raleigh a favorite site for transportation, shipping and handling companies who find us extremely convenient to their operations.
Education & Training – 38,010
If you know how many universities and schools are located in Raleigh, our huge quantity of educators isn’t a surprise. Raleigh’s NC State University alone holds 30,000 students; Duke University, UNC Chapel Hill, and Wake Forest University are a few miles away. Raleigh’s primary school system has been nationally recognized for its diversity and innovation, as well. All that means that if you’re an educator or administrator, you’ll have plenty of opportunity.
