Charlotte Investment Property Guide

There are a lot of people who feel that when it comes to property, they would like to deal with everything on their own. While there could be merits in this, a far better option is to take the services of a property management company. Property management companies take monthly charges in return for the property security and maintenance facilities. Incidentally, the property management market is quite fragmented with so many players trying to cope with the demands of discerning and demanding consumers. There are a few players that would like to build up scale and magnitude so as to expand globally and also consolidate by means of mergers and acquisitions.

Property management companies come under the purview of the Companies Act under which they are constituted. This implies that these companies have to comply with the provisions of company law. These companies have the ability to handle various legal matters that a property might face. While property management companies specialize in managing and handling various property related issues, it is true also that many of them are rather small and basic in nature. Some of them may also be in a time warp and may not have woken up to the benefits of modern technology like e-mail.

One of the important services that property management companies offer relate to client interface. This includes marketing properties and screening the response they get in order to short list suitable residents. Apart from the maintenance and upkeep of property they also ensure that agreements are signed properly and renewed in a timely and lawful manner. The company has in-house staff and supports its executives in a collaborative manner. The main aim of such a company is to ensure that the project is made commercially viable and its value is enhanced too. The company has certain limits that are imposed in the form of building codes, commercial business practices and also affirmative action provisions.

Evicting rather unsuitable and non compliant residents is one of the main services that residential property managers are able to provide. Residents and potential residents are also quite demanding as they want to know details in excess of mere abbreviations like w/d, hw fl, d/w, a/c. It is not enough for residents to accept a marketing pitch as they want more details like floor plans, building details and also aspects of the location.

When it comes to taking fees to let out property on behalf of the landlord, the property management company has to be associated with a licensed Real Estate Agent. But if the company just takes a cut from the monthly rent, this provision will not be applicable. Property managers have to look at various aspects of interior and exterior of buildings, electrical fittings and systems too. A wide variety of buildings, commercial complexes, houses, apartments and also villas come under the purview of property management companies.

Not only this, property management companies also provide a host of basic accounting facilities and services. It is possible to get monthly inflow and outflow, income and expense statements for your property from the property management company concerned.

With the current recession and plummet in property values, many investments are looking better in a variety of cities in the US.  One thing to take note of is Charlotte investment property.  Better opportunities to invest are often found outside one’s local community, so looking to large metropolitan areas is often worthwhile to potential investors.  Should an investor purchase such a property located a few states, or even a country away, local management is something worth looking into as it can save you time and headaches for a nominal fee.

Carolinas Metro Realty

Quick and decisive action to tenants’ needs are greatly appreciated, and make for happier renters.  The bonus to the investor is that for fees associated with the management of a property, any headaches that occur with a Charlotte investment property are not directly the investor’s.  The main issue owners want answered is, “How much will management cost?”  The largest cost that will accrue over time is the monthly fee.  Carolinas Metro Realty charges  9% of monthly rent or a minimum of $100.  This fee can also be negotiated to a lower amount if multiple properties are being managed by the company.  To cover any damages or repairs a reserve of $300 is suggested, but the company can tailor this to your needs, age of properties, etc.  A security deposit equal to one month’s rent is held in escrow by the company.  (What’s nice about this company is they clearly stated that the security deposit is held until the tenant moves out, an inspection is done, and damages are paid for, if any.)

Out of town investors with Charlotte investment property might wish for Carolinas Metro Realty to find a potential tenant.  This service can be done for a fee of half the first month’s rent.  They also do full credit, criminal and eviction checks on all persons over the age of 18 that will be living in the home.  Should emergencies occur, and a tenant or owner need to contact the company processes are in place.  The company does have a 24 hour number that is monitored by the owner and manager, the message is then relayed to their phones and email addresses after business hours.  Also maintenance persons are on staff to handle most issues, but a dedicated list of contractors can respond to issues outside of the norm.

Carolinas Metro Realty specializes in both residential and commercial Charlotte investment property, and suggests on the residential front that renters prefer single family homes versus a townhouse or condo.  For more information contact Treva McCain at treva@carolinasmetro.com, or to contact the company please see their information below.

Carolinas Metro Realty
17232 Lancaster Hwy, Suite 108
Charlotte, NC 28277
Phone: 704-219-6322
Fax: 866-924-7352