Charlotte, NC is one of the fastest-growing cities in the nation. As the population continues to boom, we're seeing a rental market that's favorable for investors thanks to steep renter competition. Now is a great time to expand your portfolio with Charlotte properties.
Does that mean you should try to run your rental property on your own? Many investors discover that partnering with a property management company is a great way to see higher yields without having to do all the work.
Still on the fence? Read on for five benefits of hiring professional property management in Charlotte.
1. Rental Valuation
Property managers have years of experience in real estate management and know how to determine your property's value to renters. They look at things like the size and condition of your property, as well as existing amenities. They then compare your property to others in the area to set a competitive rental price that maximizes profits.
2. Tenant Screening
Tenant screening is an important component of a landlord's success, and property managers go beyond the standard credit check. They also collect rental history reports, which can tell you everything from how long an applicant rented prior homes and whether or not they have a history of evictions. The goal is to find someone reliable that is likely to respect your lease and pay rent on time.
3. Maintenance Oversight
Maintenance coordination is one thing investors often don't account for when deciding how to manage their properties. Rental property services include full maintenance oversight. This starts with things like tenant communication and property inspections and ends with verifying that contractors have completed scheduled jobs and met expectations.
4. Lease Enforcement
When you start with strong tenant screening, you can rule out a lot of the issues that may arise between a tenant and landlord. However, it's still important to have strong lease enforcement tactics to collect rent on time, prevent property damage, and handle disputes. One of the biggest property manager benefits is that they'll take all necessary steps to enforce your lease and protect your investment property.
5. Rental Property Accounting
In order to earn a reliable income from your investment property, you need to have a consistent accounting strategy. Property managers assess all upfront costs, from fixed mortgage rates and property taxes to variable maintenance costs. They keep all tax documents in order to ensure legal compliance while helping investors earn the biggest net income possible month after month.
Call Wilkinson Property Management Company for Investor Support
Charlotte is a great city for real estate investors and the population boom is fueling rental competition. If you're like the investors we work with every day, you want to earn rental income without making your property a full-time job. That's where a property management company like Wilkinson Property Management comes in.
We have been in the property management business since 1999 and have helped countless clients navigate shifts in the rental market. We have a proven track record of keeping both owners and renters happy. Contact us to learn more about our services.
