Long-Term Lease Property Management - Asheville Phoenix Properties

If you are a property owner in the Asheville Area, it is important to make a distinction about your goals for your property. Real estate investment can be used in a variety of different ways, whether you are investing in short-term rentals, Airbnb’s land, or long-term lease-style properties.

One of the more standard strategies when renting out a property is to focus on long-term leases. A long-term lease can ensure that your property is producing income for much longer and is typically the easiest to maintain as long as you have good tenants and are working with a professional property management company.

What Is A Long-Term Lease?

Simply put, long-term leases are leases with terms that are longer than just a few days or weeks. Most short-term rental properties can be lumped into vacation rentals or bed-and-breakfast-style accommodations.

While these can be more lucrative during the peak season, a short-term rental can be hard to book when out of season. Additionally, term rentals are more costly, as you will be constantly trying to fill out the booking calendar and keep the property professionally cleaned.

Long-term leases are much more practical if you want a more hands-off approach. Most of the booking comes up front, and after a lease is signed, your job will be more passive.

Key Features Of A Long Term Lease In Asheville

A long-term lease is a rental agreement between a landlord and a tenant that extends for a period typically longer than one year. This type of lease provides stability and security for both parties, as it outlines the terms and conditions under which the property is rented.

Duration: Long-term leases usually span multiple years, commonly ranging from one to five years, although they can be even longer in certain commercial contexts.
Fixed Rent: The lease agreement often specifies a fixed rent amount for the entire lease term, providing predictability for both the tenant and landlord.
Renewal Options: Many long-term leases include clauses that allow for renewal at the end of the term, sometimes with predefined rent increases or other changes to the lease terms.
Responsibilities and Maintenance: The lease outlines the responsibilities for property maintenance, repairs, and utilities. Typically, the landlord handles structural repairs, while the tenant is responsible for routine maintenance and minor repairs.
Modifications and Improvements: The lease may include provisions regarding modifications or improvements to the property. Commercial leases often allow tenants to make improvements, with stipulations about whether these changes revert to the landlord or need to be removed at the end of the lease.
Termination Clauses: The lease agreement will detail the conditions under which the lease can be terminated, such as breach of contract, failure to pay rent, or other specific circumstances.

Overall long-term leases provide a structured and stable rental arrangement that benefits both tenants and landlords by ensuring predictability and reducing the frequency of renegotiations. However, it is important to engage with a property management company to ensure that you are both protected and can market your rental property with ease.

Asheville Phoenix Properties - Your Number One Choice For Long-Term Lease Property Management

If you are looking to invest in the long-term rental market, now is the best time for you to go ahead and begin working with a property management company. At Asheville Phoenix Properties, we take your business seriously. We are the premier property management company in the Asheville area.

When you work with us, you can expect a full suite of property management services tailored to help you maximize your long-term rental's ROI. As our partner, you will experience fewer headaches, greater financial rewards, and the peace of mind that comes with knowing your property is in caring hands.