Why Rent a Home in Charlotte, NC

Home ownership has long been considered a major component of the “American Dream,” however it’s not an option that is equally open to everyone. Many don’t have a plan to own their own home at all. That’s okay. Some have aspired to home ownership simply because it was the “thing to do,” not because it was the right choice for them, and as a result have been blindsided by the actual costs associated with owning a home and have been devastated when those homes were ultimately lost.

Owning a house or condo requires a certain level of commitment. You’re responsible not only for your mortgage payment, but also maintenance costs, necessary improvements, bills from the city, property taxes, and various utilities. All these bills keep coming as long as you own the home. And selling isn’t always easy. By finding Charlotte, NC real estate rentals many people are able to enjoy living in an area they like, in a comfortable home, but also enjoy only being tied to their home until their lease runs out.

Queen CityAt TR Lawing Realty Inc., our residential specialists can help you find a Charlotte area home where you and your family can feel comfortable. Whether you are looking for a simple condo, a modest duplex, or a lavish house, chances are one of our listings is going to fit your needs.

Another reason why home ownership is pushed is because of the investment component, but there are other ways to invest. Many are able to take the difference they save by moving into Charlotte, NC real estate rentals instead of buying and put that money into investments that will likely be more lucrative than owning a home.

However, if buying is your ultimate goal, renting can help you get there. Qualifying for a rental home is easier than qualifying for a mortgage, and you can live somewhere nice while you save extra toward a down payment for that future home and work on repairing your credit. You can also enjoy the experience of living in a house and get in tune with what the responsibilities of home ownership would be before taking on those responsibilities yourself.

Buying Vs. Renting Your Home

With the uncertainties of the housing market along with all over the additional costs associated with traditional mortgages, it is no wonder many individuals are opting for renting over buying these days. Since the recent recession, rental options have been increasing in popularity. There are several motivators for choosing Charlotte, NC real estate rentals over traditional purchasing, but here are a few of the top reasons to choose a rental option.

rent-vs-buyNo Add On Costs

When purchasing a home you will ultimately wind up with three major expenses; the mortgage payment, homeowner’s insurance and property taxes. The two additional expenses beside the mortgage payments are often required to be paid annually as lump sum amounts, which many people find challenging to budget. Renters do not have to worry about these additional costs, as the homeowner’s insurance as well as property taxes is the responsibility of their landlord. Your monthly rental price is all inclusive which is far easier for budgeting purposes.

Maintenance Included

Maintenance on your own home can take quite a chunk out of your annual budget. Not to mention that it is nearly impossible to plan ahead for all possible maintenance emergencies that could take place. However, most rental agreements include maintenance as part of your lease arrangement. This is not only easier on your budget, but is also one less thing to worry about. Calling your landlord to report a leaking hot water heater is way less stressful than trying to figure out what needs to be done yourself and then trying to fit the expense into your budget.

Moving Flexibility

Another huge bonus to renting is that the permanency of your residence only has to last as long as your lease term. This works really well for individuals who seem to move often due to work or personal preference. The time and effort that is involved in selling a home in order to move can take months to organize and can add a world of stress and complication to your life, as opposed to simply moving when your lease is up.

How Tight Is Today’s Rental Market?

Today’s rental market is very tight; local employers continue to attract new employees to our area although new construction has not resumed its pre-recession pace.  As shown below by an actual prospect and chain of events, a week does not pass when we do not have multiple applications for the same vacancy although this was almost unheard of for the last 10 years.A0C78CMC00

On Thursday February 27, Mr. & Mrs. Jones  (not their actual names) applied to rent a 3 bedroom house in the Yorkmont Park area of SW Charlotte which had been shown at least 10 times in the last 72 hours.  The following Monday, the owner reviewed 3 applications and accepted someone else.  We immediately offered to refund their binder or assist the Jones in finding another unit.

The next day, Mr. & Mrs. Jones transferred their application to a 3 bedroom house in the Plaza/Midwood area of Midtown which had been shown at least 5 times in the last 48 hours.  The following Monday, this owner reviewed 3 applications and accepted someone else.  Again, we offered to refund the binder or search for another unit.

The same day, the Jones transferred their application to a 2 bedroom duplex in theCotswold area of S Charlotte which had been shown at least 6 times in the last 24 hours. The same day, this owner declined the Jones’ application because of their low credit scores (range: 480 – 540) and an account “placed for collection” of more than $2,000 last summer by a local apartment complex.  Again, we offered to refund their binder or search for another unit.

The same afternoon, the Jones transferred their application to a 3 bedroom house in Eastway Park in SE Charlotte which had been shown at least 3 times in the last 24 hours.  Yesterday, this owner declined the Jones’ application because of their poor credit and rental history just as had occurred a few days earlier.   

At this point, the Jones ended their search with our firm.  After 3 weeks, they had been unable to secure suitable rental housing even after applying for 4 nice properties because they were competing with more than 20 other & better qualified parties.

The Jones’ situation reminds all of us that if you view a vacancy which you like, apply immediately!  Do not hesitate; do not dawdle and do not procrastinate as this is a very tight rental market.

Find the Proper Time to Hire a Property Management Company in Charlotte, NC

If you are a property owner in the Charlotte, North Carolina area and you are becoming overwhelmed with managing your property, it’s time to consider a professional property management company. Remove the headache of finding and screening tenants from your life and free up some of your valuable time by hiring one of the property management companies in Charlotte, NC.

cropped-TRL-Houses.jpgProperty management companies handle all types of work related to your rental property. From collecting rent to finding suitable tenants, a property management company will handle almost any problem that comes up with your property.

Through the use of the internet, property management companies can now negotiate and have lease agreements signed online. Instead of chasing down tenants to get all of the paperwork signed, this can all be handled easily by the property management company. When you spend less time managing your property you can focus on finding more property to invest in.

Collecting rent is usually a hassle for property owners and is one large reason many people shy away from investing in rental property. Instead of chasing down your monthly mortgage payments, one of the property management companies in Charlotte, NC can do the work for you. You will receive your rent on time and a monthly itemized billing statement of the costs associated with hiring a property manager. You will not have to worry about getting paid rent on time again.

Finding suitable tenants is another big reason people don’t want to invest in rental property. A management company will screen all tenants, and work hard on tenant retention. Take the guesswork out of finding tenants and leave it up to the professionals.

Houses of Worship

For at least 10 years, T. R. Lawing Realty has offered to manage any former parsonage, presbytery, rectory or manse at NO FEE for any local congregation, synagogue or house of worship with a 501c3 Non-Profit designation.  This is one small way in which we support the programs and services of local congregations which do good in our community.

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We continue to provide a full suite of all of our professional property management services but simply at no fee.

Currently, we manage 7 properties for Baptist, Catholic, Methodist & Presbyterian congregations and offer our services to any other local houses of worship which may wish for us to manage the details.

Joe Rempson: Charlotte Regional Realtor Association

On March 4, 2014, Vice President of TR Lawing Reality, Inc., Joe Rempson officially took the reins of the Charlotte Regional Realtor Association as President. Just 38, Rempson graduated from North Carolina State University in 1997 with a degree in Agricultural Business Management.

Just a year after graduating, Rempson began working for TR Lawing Reality, Inc., one of the premier property management companies in Charlotte, NC, and steadily moved up in the company until he became Vice President.

Among his other business accomplishments was his winning of the Good Neighbor Award from the National Association of Realtors for his work with Realtor’s Day Care.

More importantly, Rempson is the father of two daughters, Avery and Ryann, and a son named Cole. Additionally, Rempson is a youth leader and a committee member of the Hawthorne Lane United Methodist Church, a high school football coach, and he also volunteers as a youth sports coach when he has free time.

A few fun facts about Joe are that he is a sports nut, and ESPN is his favorite website. His favorite possessions are his golf clubs, and his fantasy job is to become the general manager of a professional sports team.

He is also an avid reader and enjoys watching movies, dramas in particular. When asked which word he would use to describe himself, he chose the word humorous.

Though Joe has a sense of humor and enjoys his sports obsessions, it is clear that he understands today’s real estate market in Charlotte. His biggest concern is the housing market and he explains that, ”the housing market has to improve. This has an effect on jobs and quality of life.”

It is Joe’s versatility and his understandings of the North Carolina real estate market that lead people to select Joe as the President of the Charlotte Regional Realtor Association.

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