Is It Possible to Sell a House While Tenants Live There?
Saying it is a seller's market might be the biggest understatement of the year.
Few industries were left unscathed by the effects of the global pandemic. In western North Carolina, some small businesses and larger corporations had to close their doors for the final time.
However, as things began to reopen and return to normal, companies that survived in the Asheville area have seen as many customers as ever. That is at least in part due to an influx of people moving to our area.
We have been growing steadily for decades, but it seems like our area has become even more popular during and since the pandemic. With the growth of remote work options, people wanting to escape claustrophobic larger cities have opted to relocate to beautiful places like western North Carolina.
If you are fortunate to own property in the Asheville area, you may be looking at the housing market and thinking about selling. This might be the time to cash in on your investment and look for new opportunities.
The Seven Most Profitable Rental Property Upgrades
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 Rental Home Preparations
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.
Seven Questions to Ask Before Hiring a Repair Person for Your Rental Property
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.
10 Tax Deductions Rental Property Owners Need To Remember
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.