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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