Putting your home up for rent in Charlotte can be an overwhelming task. Sentimental attachment and concerns about damage and lost value may cause you to hesitate and worry about selecting the right tenant.
Landlords have two primary concerns, timely rent payments and protecting their property. These few simple tips for renting a house can help ensure you select a tenant that pays on time and won’t abuse your home.
Have a Rental Application
A sound application process removes much of the guesswork and allows landlords to qualify potential tenants. Every rental application should include:
- Income source and amount
- Previous rental addresses and landlords’ contact information
- A signed authorization to check their credit with a space for their Social Security Number
- Retail space for rent in Charlotte NC
Take the time to review the application. Check previous landlords and references, and confirm credit history.
Property damaged at previous rentals, forfeited security deposits, or late rent payments are red flags. Remember, the right tenant will not damage your property and will pay the rent on time.
Have a Lease
A lease is a legal document that protects both landlord and tenant rights. As laws vary between states, it’s a good idea to avoid a generic online lease and have an attorney prepare one for you. At a minimum, your lease should include:
- The term of the lease
- Security deposit amount
- Monthly rent payment day
- Penalties for late payments
- Responsibility for maintenance and repairs
- Names of all occupants
- Policy regarding pets and any additional pet-related fees
- Responsibility for Homeowner Association (HOA) fees
- All rules that tenants must follow including HOA regulations, noise level, parking, smoking, etc.
- Conditions for tenant eviction
- How you will show the home if you intend to sell while it is rented
Hire a Property Management Company
The initial expense of having a property management company find a good tenant can pay for itself in the first month or two of rental. Professional management companies already have a process in place for:
- Tenant background checks
- Periodic property inspections
- Rent collection
- Collecting late fees and penalties
Many homeowners find professional property management well worth the expense. If you choose to do it yourself, make sure you have a good application and lease. Follow these tips for renting a house, and you’ll remove much of the mystery from selecting the right tenant.
Nestled on 2,000 acres of land pressed closed to the South Carolina border, Ballantyne is considered one of Charlotte’s more affluent and upscale communities. This is a beautiful neighborhood full of fantastic Ballantyne NC home for rent that is a great place to live, but it might not be for everyone. The following is a quick look at what this community has to offer to help you better determine whether or not this is the right place for you to settle into:
- Lot of house for your money. While many of Charlotte’s neighborhoods boast homes that date back to the 1950s and earlier, Ballantyne features more modern developments with most Ballantyne NC homes for rent being built over the course of the last 20 years. This means a lot of brick and stucco traditional styles that boast big floor plans and more than one bathroom.
- Great for golfers. Whether you enjoy swinging clubs or flipping frisbees, Ballantyne is a great place to be for golfers of all shades. Disc golfers will love living near to the Elon Park Recreation Center with its mix of courses while more traditional golfers have a country club and PGA-ranked golf course to play at. Never golfed but want to? Sign up at the nearby Dana Rader Golf School.
- Tons of shopping options. If you love shopping and socializing, then you’ll love the Blakeney shopping center. This 270-acre multiuse development is one of Charlotte’s most popular shopping, dining, and entertainment districts and when you live in Ballantyne it’s right at your backdoor. Other nearby shopping destinations include Carolina Place, SouthPark Mall, and StoneCrest at Piper Glen.
- Excellent school system. Ballantyne NC homes for rent are particularly popular among parents due to this neighborhood’s outstanding school district. The community’s Hawk Ridge Elementary, Ballantyne Elementary, and Ballantyne School of Music have all enjoyed excellent reviews and ratings but most notable here is Ardrey Kell High School, having received an A+ overall rating and a commendable student-to-teacher ratio of just 21:1.
College students and young professionals might feel out of place in Ballantyne, but if you’re a parent, wanting to start a family, or looking for a quiet suburban neighborhood, then Ballantyne is a great choice!
Owning rental properties is one of those things that can look great on paper, but is a nightmare in real life if you get the wrong type of tenants. Your Charlotte, NC properties are an investment and you want others to treat them like an investment. This is why the primary job of a property management company is finding and keeping outstanding tenants to fill their clients’ properties. Outstanding tenants being ones that always pay their bills on time and ensure proper care and maintenance of the property, which is important for legal purposes, and to find out how to use product liability in your benefit.
Naturally, finding such outstanding tenants is rarely easy and requires a strong understanding of what to look for and what to overlook. A quality property management company has the experience and skill to find the best new tenants for any property. This includes:
- A strong marketing department. A good way to determine whether you are working with a quality property management company or not is to look at the marketing department. Reputable management groups aren’t just reposting your listing on Craigslist. Rather, they are using a variety of resources to reach out to as many quality renters as possible.
- Available online application. To sift through as many applications as possible to pick out the best tenants requires being readily available. This starts with taking applications online 24/7 for given properties and keeping a comprehensive database of prospective tenants.
- Knowing what to screen for. No property management company or landlord can discriminate against prospective renters based on the big seven (race, religion, disability, gender, familial status, national origin, or age). However, there are other key aspects that management groups can use to decline a prospective tenant and prevent a bad tenant-landlord situation from occurring. For example, screening for bad credit, criminal histories, evictions, job histories, pets, smoking, and similar items are acceptable and a manner to ensure a property owner gets a quality tenant.
- Positive relationships with tenants. Finally, a quality management company understands that to keep their property-owning clients happy, they must keep their tenants happy. To do so, employees prioritize tenant concerns, treating each with respect and swiftly responding to their concerns and needs. Even the best of tenants can be disgruntled, responding with care and promptness is key to ensure the property is kept in its best condition and those good tenants stay happy.
Contact us to learn more!