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Wednesday, 02 December 2020 10:16

New Year’s Resolutions for Property Owners

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.

Here are some ideas for property ownership resolutions.

4 New Year’s Resolutions for Property Owners

1) Resolve to reduce vacancies. 

Whether you have multi-family units or just one single-family rental home, it is vital to keep vacancies to a minimum. Even in a housing market as competitive as ours, some property owners find that they have lengthier vacancies than they would expect to have. Reasons you might be experiencing extended vacancies include:

  • You lack the time it takes to adequately market your property.
  • You do not have access to the best resources for marketing.
  • The process of screening and doing background checks is difficult or tiresome.
  • You are committed to finding the right client for your property.

If any of these reasons for vacancies have plagued you this year, you can make a resolution to find solutions to these challenges and keep your rental property occupied. One way you can help yourself keep your resolution this year is to find and hire the right property management company that can help you market and find the right tenant for your rental.

2) Resolve to keep up with property maintenance. 

Property maintenance is one of the most challenging parts of property ownership. It is hard enough to keep up with what simply needs to be repaired for tenants. When you factor in ongoing maintenance needs and trying to work around the schedules of your vendors and tenants, it can almost feel like it’s not worth the headache of property ownership. This might be the year, however, you break the trend of falling behind and hire a property management company to help you keep up with your ongoing maintenance needs as well as emergency repairs for your tenants.

3) Resolve to improve tenant relationships.

You know how important it is to maintain good tenant relationships. Your reputation is important, you want to treat people well, and you do not want bad reviews from tenants. Let this be the year you set a goal to improve your tenant relationships. That starts by hiring a property management company that is committed to helping you establish and maintain great relationships with your tenants, while also collecting rent in a timely fashion, and keeping up with the day-to-day aspects of property management.

4) Resolve to seek quality property management.

The past year showed us how quickly life can change for families in western North Carolina. We’ve also learned the value of spending time with friends and family and the people who matter most to us. In years past you know that in many ways managing your properties has kept you from valuable time you could be spending with those you love. Let this be the year you hire a property management company to maintain the day to day, so you can get your time and your life back. For those who are concerned about the costs of taking on a property management company, it often pays for itself due to their ability to set competitive rent prices and keep your property occupied. 

For an experienced and expert property management team in the Asheville area, look no further than Asheville Phoenix Properties. We have been helping property owners save time and enjoy life in western North Carolina for decades. Contact us today if you are resolved to spend less time on the day-to-day management of your property, and more time with the people in your life who matter most.