Budget-Friendly: Single Family Homes for Rent in Charlotte NC

When looking for single family homes for rent in Charlotte NC, budget can be the first concern for you. Sticking with your budget will help you life the lifestyle you want to live for the term of your new lease.

Budgeting the Little Things

You will know your rent payment, but what else should you consider when budgeting for single family homes for rent in Charlotte NC? Consider transportation costs, how will you commute to work and how much will that impact your financial situation? Also, there are utilities that are sometimes paid by the owner/landlord and other times there are no utilities covered in your rent payment. How close to shopping and entertainment do you want your new home? This can have an impact on your budget and your time, if you have an active social life and are not used to traffic or driving far distances several times a week.

Consider the Job Market

Not only is commute to your current position a factor, but what if you want to change jobs? If you have a teen that is going to look for work in the future, sometimes it’s better to consider single family homes for rent in Charlotte NC, that is in a community that has jobs near by.

How Comfortable Do You Feel?

If you are in a good neighborhood and feel comfortable with the area, this will heighten your experiences and may cost you less for security measures. Feeling safe and being in a neighborhood with low crime can be a big relief for you and your family. This may require a bigger budget, a longer time searching or involving a property manager to help in your search for the right home.

When working on a budget, you should be concerned with money and expenditures first, but also consider long-term costs. Saving on a utility bill or two can help you stay in budget and increase what you are willing to pay in rent. Your new location is an important factor to make sure you are within what is an affordable price for you and what long term costs you may incur in the future. The most important consideration is that your lifestyle is positive in the budget-friendly home you acquire as a rental.

Important Tips Before Renting Out a House

If you’ve decided to consider renting out a house in Charlotte, NC, consider these tips before moving forward, so your home and investment in your home is protected.

Hire a Professional

A property management company can help, if you are short on time or the ability to navigate the rental market. They are able to screen candidates, give you advice on what to expect financially and will be there to make sure that anything that needs to be fixed in the home is delegated. There are also professional carpet services and cleaning services that will give your home that extra sparkle, as to attract more renters.

Require Renters Insurance

Renters insurance is inexpensive and will protect your renter’s property, as well as your investment. This will also insure that if something goes wrong it is more likely to be covered, if the owner and renter both have insurance.

Choose the Right Rental Price

If you don’t hire a professional company, do research in your area for rental prices. If your asking rent is too high, you may lose money waiting for someone willing to pay a higher price.

Consider Renting as Corporate Housing

Renting for shorter term, may not be ideal as corporate housing is usually a month to month, 3 month or 6 month lease, but the rent being paid on time is more of a guarantee. The renters are also usually backed by the company they work for, so it is less likely that they will mistreat your property.

Renting out a house requires a lot of consideration and attention to details. You should list your pros and cons and analyze if you will hire people to help or list your home alone. Requiring renters to have insurance and a background check, will help you spend less money on repairs and give you more of a long-term profit. Once you’ve considered these tips and made your decision to rent out a house, you should feel confident that you’ve spent time on the details and should find good renters.

Top 7 Neighborhoods in Charlotte

With inspiring cultural attractions, eccentric locals, extensive history and breathtaking scenery – it’s not surprising Charlotte is one of the fastest growing cities in America.

If you’re wondering where to live in Charlotte, NC – here’s the top 7 neighborhoods:

No. 1 – Eastover

Still known as one of Charlotte’s most sought-after neighborhoods, Eastover was the first suburb to create driveways for motorcars. And with this type of rich history and backstory, it tends to attract prominent community members and other high-ranking professionals.

No. 2 – Dilworth

With restyled bungalows, lively churches and relaxing parks, Dilworth is definitely worth checking out. And with the locally famous East Blvd. running right through the middle, you’re always just steps away from the best shopping, art galleries, pubs and restaurants.

No. 3 – The Arts District

Famous for its buzzing atmosphere and unique local hang-outs, The Arts District is one of Charlotte’s most dynamic and innovative neighborhoods. With a healthy mix of artists, musicians, bankers and other white-collar professionals, you’ll have no problem fitting in with this eclectic and diverse crowd.

No. 4 – The Loop

Also known as Center City, this neighborhood has a little something for everyone. Whether you’re looking for a condo, loft or single-family home – you can find it at a price you can afford in this part of the city.

No. 5 – Plaza-Midwood

Established in the 1920′s, Plaza-Midwood has homes in nearly every price range. Even better, this part of the city provides the most diversity and adaptability to its residents. And with new businesses starting to thrive in area, it will be exciting to see the changes as this Charlotte neighborhood continues to evolve.

No. 6 – SouthPark

If you’re someone who loves to be feet away from the trendiest stores, latest designs and best fashions, this is definitely the place for you. But shopping isn’t all this modern neighborhood has to offer, you’ll also have easy access to entertainment, restaurants and diverse housing opportunities.

No. 7 – Ballantyne

As one of Charlotte’s newest editions, Ballantyne is an up-and-coming area offering the best of all worlds. A mix of condos, single-family homes, and townhouses – you have a wide choice of living experiences. And with dining, shopping and entertainment right around the corner, you’ll never be bored in this fresh suburban development.

 

3 Reasons to Consider Living in Downtown Charlotte

Charlotte, North Carolina is a big place. With more than 800,000 people living in the metro area, there are multiple neighborhoods and areas to choose from, including rural and suburban. But urban living in downtown Charlotte may be one of the best options if you are moving to the area. Here are three reasons why.

1. The Food

Since downtown Charlotte is actually on a hill, reigning regally over the rest of the metropolitan area, it’s actually called “uptown” rather than “downtown.” But whatever you choose to call it, this part of Charlotte has the best food, drinks and entertainment in all of North Carolina.

From the open atmosphere of Stoke, where you can see your chef prepare your meal right from your table, to the delectable offerings at Roosters and inside Duckworth’s at The Cellar, uptown Charlotte simply has amazing food. You can follow that up with dancing or hanging out with friends at some of the most well-loved bars and clubs like N.C. Music Factory, Connolly’s or Dixie’s Tavern.

2. The Arts

If you are living in uptown Charlotte, you also have access to some of the most amazing art venues anywhere in the south. There are plenty of museums, galleries and other interesting places to visit including The Joe & Joan Martin Center, which is perfect for kids, the Mint and Levine museums, both just a short walk or drive from anywhere if you are living in downtown Charlotte.

3. The Entertainment

If you are just looking for some good, old-fashioned fun, there is plenty in uptown that doesn’t involve the arts or food and drink as well. The NASCAR Museum is always worth a visit and during the hottest days of the year, many families virtually live at Ray’s Splash Planet, an indoor water park and sports complex that boasts plenty of things to do, wet or dry.

The bottom line is that there is just an astounding number of things you get instant access to when you are living in downtown Charlotte and you’ll love knowing that you’ve got a whole world of culture, food and entertainment right at your fingertips.

Where to Live Charlotte NC: Myers Park

Looking to move to the Queen City soon? If you are researching places where to live Charlotte NC, then one place that needs to be on your list is Myers Park. The Myers Park neighborhood is known as one of the city’s more distinguished and desirable addresses. This is an area known for its impeccable homes, tree-lined boulevards, and slow curving roads. Yet, while many of these homes are owner-occupied, if you are looking where to live in Charlotte NC you can still find a nice Myers Park home to rent via a property manager.

But before you do, consider the following aspects to see whether Myers Park is the right neighborhood for you:

  • Dominated by 1920s architecture. The primary home styles here are Colonial and Tudor Revival with a lot of Bungalow influences. If you love the look and feel of older homes, then Myers Park is a place to ask your realtor about. Although, it is important to note that these older homes involve a fair bit of renovations and as such the prices to rent here tend to be higher than in other areas in and around Charlotte, NC.
  • Close to big neighborhood parks. If you love being outdoors, then a Myers Park address in an ideal spot to be thanks to its close proximity to a number of Charlotte’s best parks. The Little Sugar Greenway, Edgehill Park, Booty Loop, and Freedom Park are just a few of the green spaces found in and near this neighborhood.
  • Near top restaurants. If you are a foodie and researching where to live Charlotte NC, then Myers Park is also a great place for you. Here, you are well within walking distance or have otherwise easy access to some of the city’s most delicious restaurants. Right on Montford Drive you’ll find a number of favorites like Good Food on Montford, The Roasting Company, Nolen Kitchen, and littleSpoon.

It really only takes one drive down under the trees of Queens Road West or one walk through one of Myers Park’s pocket parks to understand why this is one of the area’s most beautiful and sought after places to live. This is a place with highly acclaimed schools, beautiful parks, and delicious restaurants all waiting for residents without a short walking distance.

Are you ready to see what this historic neighborhood has to offer you? Contact our friendly property management team today.

Renting your investment house? What to do when the rent doesn’t show up.

Renting an investment home to tenants can be extremely beneficial for everybody involved. But there’s also several problems that can arise – perhaps the most common being late rent payments or no payment at all.

If you have found yourself in this situation, consider the following tips to resolve the issue with as little stress and hassle as possible:

No. 1 – Always Have a Plan 

Regardless of who your tenant is, you should have a clear and concise plan established well beforehand regarding how you will handle late rent payments. These terms should be outlined clearly in the written lease to ensure all parties involved understand exactly what is to be expected.

No. 2 – Post a Late Rent Notice

Depending on the grace period allowed by the lease, you should promptly post a late rent notice once this period is breached. This notice should include the total amount due and any late fees associated with the delay in payment.

No. 3 – Make a Phone Call

If the tenant hasn’t contacted you concerning their late payment, call them up on the phone to find out what is going on. Hopefully, the tenant will be available to take your call and you can resolve the issue with a simple conversation.

Many times, tenants plan to pay but are simply too overwhelmed with their financial situation to call you first. That’s why it’s always a good idea to keep the lines of communication open between you and your tenants.

No. 4 – Post an Eviction Notice

While it’s never a fun thing to do, if a tenant has shown no effort or good faith to pay you what they owe – it’s time to post a notice of eviction and/or attorney’s letter on their door. Ask your lawyer to prepare this letter for you to ensure it’s up to your state’s standards.

No. 5 – Take Legal Action

If after you have taken all of the steps listed above and your tenant still has not paid their rent, it will be time to take legal action against them as a last resort.

However, it’s important to realize eviction laws are tricky and going to court isn’t the easiest process – especially if this is the first time you’ve had to evict somebody. Consider hiring a lawyer who is highly skilled in eviction law to make the process as quick and painless as possible.

 

Considering Renting Your House? Improve Its Curb Appeal!

When preparing your home to be rented, improving curb appeal without breaking the bank is the goal. Adding a few eye-catching improvements while keeping the landscaping and front porch neat and clean will help you quickly win over potential renters. An attractive home will also ensure you get market rent or more for your property. Take a look at our list of impactful home upgrades to enhance curb appeal for NC renters.

Prepare Your Home to Welcome New Renters

Drive up to your home and evaluate it with fresh eyes. What defects do you notice and what features could use a bit of polishing? You don’t need to include all of the following improvements to rent your home, but select those that will make your home appear desirable and unique:

• Replace dingy, bent or broken window blinds, which can easily be seen from the outside of the home.
• Keep the lawn neat and green, and consider adding pops of color with potted plants or flowers on the porch or along the walkway. Repair the driveway if needed.
• Consider purchasing a new front door or painting your current door a bright, but not off-putting, color. This creates a focal point–and makes people feel tempted to enter.
• Think about adding attractive door hardware in high end finishes to impress renters who get close up.
• Add distinctive or oversized house numbers, so renters who’ve seen an ad can find the place. This also adds a sense of stability and modernity.
• Install a new mailbox if yours is worn.
• Wash the siding on the home so that it looks sharp and not neglected in any way.
• Light it up, for potential renters who might drive by after work. Add attractive lighting to the lawn, walkway, and/or along the front fence. A distinctive and impressively elegant porch light fixture will draw attention. Keep indoor lights on during the evening with sheer curtains drawn so the house doesn’t look cold and empty.
• Consider painting the trim on your home if it’s peeling or worn.

These economical tips will brighten up your home and significantly increase its curb appeal for renting. Your home should attract the best qualified renters, rent quickly and command a top-tier rent.

Get Expert Guidance on Renting Out Your Charlotte NC Home

If deciding on home upgrades to attract renters seems daunting, work with an experienced property management team. Contact T.R. Lawing today.

 

Benefits of Using LLC For Investment Properties

If you own a home that you rent out or other investment properties, you might want to consider forming a limited liability company (LLC). There are several benefits to using an LLC to handle the business activities of your investment properties.

Protecting Your Personal Assets

One of the primary reasons property owners choose to set up an LLC is to protect their personal assets. As much as you would like to trust your renters, you cannot control everything that goes on at the properties you rent 24 hours a day. For example, if your renter had guests over for a party and a guest was hurt, there is the possibility that you could be personally sued because of their injuries. An LLC limits your personal vulnerability to this type of lawsuit and insulates your risk exposure. Your personal assets would be protected any claims would go against assets that are owned by the LLC.

Pass-Through Taxation 

If you are a single proprietor or have partners in an LLC, you get the benefit of pass-through taxation, which avoids the double taxation you would be subject to if you had another type of corporation, like a C corporation. As a single proprietor, you are able to avoid double taxation of your rental income and the appreciation on the property when you sell it. An added benefit is that you get to deduct your mortgage interest. As a sole proprietor with an LLC, your profits and losses are passed directly through to you and you would be required to pay taxes as an individual. A multimember LLC is treated as a partnership, and you would be required to file an informational return to the IRS. The profits and losses would also be passed through to members and reported on their individual tax returns.

An LLC can give you greater flexibility with other business aspects, in comparison to other types of corporations. The best way to decide if an LLC is right for you is to discuss it with your tax advisor

Charlotte Property Management Companies: How to Choose the Best One?

If you own property in the Charlotte, NC, area and would like help with managing the rental process and upkeep, property management companies are an excellent solution. In fact, expert property management can help increase your property value. Charlotte property management companies are not all created equal, however, so here’s what makes the best stand out.

Hallmarks of Top Charlotte Property Management CompaniesThe key to successfully and profitably managed rental property is selecting the best property managers. If you look for the following skills and qualities, you will be able to enjoy owning rental property without the day-to-day challenges of management.

These skills and characteristics set the best property management firms above all the rest. Look for:

• Experience: Choose a company with decades of experience in the Charlotte rental market. Experience brings many advantages to you as a company client. For example, long-term property management companies have valuable contacts in home improvement. This saves you money on property upkeep or upgrades, while guaranteeing quality repairs. Experience also ensures your property remains in compliance with local codes and landlord-tenant law.

• Reputation: A proven track record gives you confidence you’re making the right choice to manage your rental property. Check references and reviews.
• Organization: A good property management firm runs smoothly, with well-established procedures for advertising, budgeting, running background checks on prospective tenants, collecting rents, managing lease agreements and conducting legal evictions as needed.
• Communication: Your property management company should keep you informed of the state of your property with regular proactive reporting. The firm should be responsive to your questions or concerns and never delay in calling you back or answering your questions completely.
• Local real estate expertise: Your property manager should be able to offer solid advice about the market and home values, They should ensure that you receive market rent and advise you on improvements to increase rental or resale value for your Charlotte rental units.

Choosing the right property management company for your rental home or multi-family property is crucial to protecting your investment. In fact, the best property managers maximize your investment steadily, ensuring that you enjoy reliable, worry-free management and rental income.

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