There has never been a better time to own property in Asheville than right now. Despite the challenges our area faced due to the global pandemic, property values have continued to climb rapidly. Demand for housing continues to rise as the prevalence of remote work makes beautiful outdoor regions like western North Carolina that much more appealing.
If you own one or more rental homes, there should be plenty of tenants in the area ready to lease from you. Many owners think that leasing their homes is mainly something that will help offset costs and taxes until they are ready to sell or move into the house. However, property rental can be a profitable source of passive income.
You can set your rental apart and increase profitability with a few key upgrades. Here are the seven renovations that will make your rental home more profitable.
Summer is almost here in Asheville. It is the time of year when the mountains come alive with thick forest canopies that provide a lush green backdrop for our city. It beckons residents and tourists to explore every square mile of hiking trails in the area. Our temperatures are a little cooler than the foothills and piedmont, so it is the perfect time of year to get out and enjoy the outdoor activities for which our area is known. Our summer weather is one of the reasons our area remains one of the fastest-growing regions in the Carolinas. It is a great time to own rental property in western North Carolina. However, you will have to spend the first part of the summer preparing homes for the season. Here is what you need to know about summer prep for rental homes.
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.