Asheville is an excellent place in which to own rental property. Owning property is almost always a wise investment, especially in an area as popular as Asheville and western North Carolina. With so many people moving here, there are plenty of opportunities to reduce vacancies and fill your rental properties with great tenants. One of the downsides to having people lease housing from you is the many ongoing maintenance needs you face. Sometimes, it may seem that all you do is run back-and-forth, making minor and major repairs to your single and multi-family houses. Whether it is for a job outside your expertise or running out of time to do it yourself, you will eventually have to hire someone to make certain repairs.
Whomever you hire, it needs to be someone you can trust. We have developed seven questions to ask any potential repair person before you allow them to work on your rental property.
While it has been a long, strange year, some things have not changed. Despite the events that have seemingly changed everything, one thing remains - taxes. It is tax season yet again. While owning property in western North Carolina typically feels like a great investment most of the year, this is the one time it may feel like a burden. However, by taking advantage of the available tax deductions, rental property owners can rest a lot easier during March and April. In this article, we are making sure you know some of the top tax deductions for your property.
After a long winter in Asheville, residents are ready to get out and enjoy the sun and warmth of spring. It is one of the best times to be in western North Carolina. Soon the snow and ice will melt, and the hills and mountains will come alive with color. Trees and flowers will be in full bloom, and temperatures will be perfect for getting outside and enjoying the beauty of the Asheville area. It is the best season to explore the thousands of miles of hiking and mountain biking trails, do some fly fishing in the rivers and creeks, and take a drive on the Blue Ridge Parkway.
Apartment buildings are a major investment, and savvy owners can realize quite a significant return. The key is minimizing vacancies and building a healthy pipeline of prospective tenants on your waiting list to slide into units as soon as possible. The right tenants are as good as money in the bank. The wrong ones… well, they can be a nightmare! Filling your new Asheville apartment building requires more than completing background, employment, and credit checks (though you should never skip this step). It also involves implementing sound strategies designed to help you attract and retain great tenants.
Western North Carolina residents are ready to put last year behind them and get started with a new year filled with new opportunities. It has been trying for families to navigate the challenges of learning and working remotely. People have found themselves juggling working and learning remotely with concerns about safety. Meanwhile, we have been worried about our friends, family, and loved ones, and trying to keep the people we care about most safe. Even though some of that is still part of our lives, we are all hopeful that the worst is behind us and are ready to move on to new challenges and possibilities.
For property owners in western North Carolina, 2020 was still a year of high demand for housing. In fact, if anything, we have seen an influx of new residents to Asheville, Hendersonville, and surrounding areas. There have been many reports of houses selling sight unseen, many times at or above asking price. Renters are still searching for places to call home and finding themselves waiting in line for availability. If you own rental property in western North Carolina, there is quite a lot to celebrate with the new year.
Property ownership requires a lot of your time and energy. As the new year begins, take a moment to evaluate your previous year and try to determine if there are ways to improve.