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Oak City Properties
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ย Have Rental Rates Peaked? | Oak City Properties
Eviction rates are rising across North Carolina, with nearly 15,000
evictions last month. The rental rate bubble has gone up a
staggering 24% while the average hourly wage has increased by only
8%. Some believe we are entering Phase 2 of the Housing Market
crash due to the distorted housing (and rental) market. The trouble
is finding a tenant that can consistently pay rent to reduce the
likelihood of eviction or frequent turnover. Donโt take a risk that
may end up hurting you in the long run. The fact is people... more
What Does a Housing Recession Mean for Investors? | Oak City Properties
As mortgage rates rise, the once highly competitive housing market
is starting to cool. The combination of sky-high home prices,
rising mortgage costs and soaring inflation has forced all but the
wealthiest out of the current home market. This trend is causing
some investors to question their choices based on recent economic
data. The foundations of this housing market are far more stable
and less worrisome. The supply of homes for sale remains low, and
borrowers are more creditworthy. The Supply of homes is... more
After-Repair Value in Real Estate | Oak City Properties
Everything You Need to Know About ARV
Have you ever heard of ARV? Whether you are thinking of flipping a house, interested in real estate investing or thinking of remodeling your home, you may have run into the term. After-Repair Value or ARV is a measure used by real estate investors to estimate the future value of a property after renovations. Itโs used to gauge the worth of a property when considering repairs, cost and resale value.
ARV Definition
... more
How to Raise The Rent Without Losing Tenants๏ฟผ | Oak City Properties
Best Way to Negotiate Rent Increases
While tenant turnover can lose money, not increasing the rent can also be a financial drain. Landlords need to understand how to tactfully and effectively raise the rentโฆwithout losing the tenant. To help, our experts at Oak City Properties put together a list of considerations when raising the rent and how to properly navigate the process.
Know the Market
The first step in a rent increase is to know the market.
... more
The Real Estate Market is Ever Changing | Oak City Properties
In 2011, the housing market started its upward climb to a feverish climax in 2021 and early 2022. After ten years of growth, the market has now pumped the brakes and moved into a cooling trend. Now is the time for buyers and real estate investors to take their time finding a home. The Cooling Housing Market Mortgage applications dropped to the lowest level this year at the end of June. For more information, please visit Oak City Properties.
Know Your Real Estate Agent | Oak City Properties
To help with the journey, most people hire a real estate
professional to make the experience more enjoyable. What happens
when you find the home of your dream but an agent of your
nightmares? Interview Tons of Real Estate Agents Hiring the right
realtor for the job is critical to the success of buying and
selling a home. Steer you towards a bad dealA real estate agent's
role is to guide you through the process and not be pushy.
Unfamiliar with the marketA real estate professional should be
familiar with your... more
Owning a Townhome is a Wise Investment | Oak City Properties
How Purchasing a Townhome May be for You! Did you know that
townhouses are the second most common home choice among U.S buyers?
The current market trend identified by the National Association of
Realtors shows that townhomes are popular among young buyers under
the age of 30. What is a Townhouse? A townhouse or townhome is a
multi-floor home that has its own entrance and shares one or two
walls with a neighboring home. Pros of Owning a Townhouse There are
many pros to owning a townhouse. More Affordable: Purchasing... more
Handling Property Maintenance and Emergency Repairs | Oak City Properties
How to Handle Tenant Repairs For both landlord and tenant, it is
never fun dealing with repairs! Landlords often struggle to keep up
with a rental property's demands, while tenants don't want to live
in a home that isn't functioning correctly. To help combat rental
repairs, a landlord must implement a system to handle property
maintenance and emergency repairs quickly and efficiently. What Is
a Landlord Required to Fix? North Carolina law states that
landlords must keep their properties fit and safe for tenants... more
How to Determine the Value of an Investment Property | Oak City Properties
There are four primary approaches a real estate investor can use to
evaluate the potential value of a rental property. The sales
comparison approach (SCA) is one of the most widely recognized
forms of valuing residential real estate. The Gross Rent Multiplier
Approach (GRM) allows investors to quickly calculate a propertyโs
profitability margins compared to similar properties in the same
real estate market. The GRM provides the property's market value
ratio over its annual gross rental income. For more information,... more
The Mismatched 2022 Housing Market | Oak City Properties
The Raleigh housing market is a prime example of this mismatch
between supply and demand. The sharp rise in mortgage rates and the
scarcity of inventory are forcing many to turn to renting instead
of buying. With the housing market predicted to stay robust over
the next 3-5 years, those renting trends will not change anytime
soon. The Oak City Properties team has decades of experience that
we can leverage to make the best property investment decisions. If
you are interested in learning more, give us a call at... more
Top Hidden Costs of Owning Rental Properties | Oak City Properties
Understanding Your Money Flow Owning a rental property can be a
wise investment, especially in North Carolina. While the trend has
shown an increase in people choosing to rent, it's always wise to
understand the financial responsibility of owning investment
properties. There are often "Hidden" costs associated with owning
rental property. Maintenance Having a tenant in your property
doesn't mean the maintenance stops! As the landlord, you will be
the sole individual responsible for the 24/7 repairs. Property... more
Making Your Small Rental Feel Bigger
Figuring out how to decorate and style a small rental space can be challenging. However, there are ways to make a unit feel larger and more open by how you arrange the room and items found within. In this article, we talk about ways to make your small rental feel bigger with everyday items.
The post Making Your Small Rental Feel Bigger appeared first on
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Staying Organized as a Landlord and Real Estate Investor | Oak City Properties
With maintenance and tenant concerns at the forefront of every landlordโs mind, reporting and accounting only seem to come into play around tax time when it comes to property management. As an experienced property management company, we understand that tracking your profits and expenses is crucial each year. This article touches on ways to stay organized as a landlord or real estate investor.
National -VS- Local Property Management Services
When searching for the right property management service, you will likely have a list of desirable attributes that the company needs to possess. This article discusses the differences between national and local property management services so you can make an informed decision.
Housing Market Predicted To Stay Strong
The strong US real estate market shows NO signs of stopping and Raleigh has a long-term growth model that ensures a constant housing and rental demand. From homeowners to landlords, Raleigh continues to be a great place to live and work. Take a look at the following article to learn more about the predicted housing and rental trends for 2022.
Happy Tenants Mean Long-Term Tenants
Tenants that respect your property and the neighborhood are what every landlord wants when it comes to renting their property. Add in the idea of paying on time; being clean; and considerate; and contacting you when issues arise; and you have yourself the illustrious โunicornโ of tenants. In this article, we talk about tips to keep your tenant happy.
Best Way to Communicate with Tenants | Oak City Properties
What is the best way to communicate with tenants? This is a question that many homeowners have and in this article, we'll cover what you need to know about communicating with your renters.
Landlord -vs- HOA
The landlord โ HOA relationship can have many benefits and be a great way to build a harmonious partnership within a community. However, there are times when an HOA embraces an โus -vs- themโ mentality that benefits no one. To help, Oak City Properties took some time to look deeper into the issue and provide advice to help keep the peace on the Landlord -vs- HOA front.
A Splash of Holiday Party With Moving Tips | Oak City Properties
Holidays can be stressful, especially if you're planning to move during that time. This article offers tips for throwing a successful holiday party and moving into your next home at the same time.
5 Mistakes Investors Make When Dealing With Sellers
After dealing with sellers for years, we are familiar with the mistakes that real estate investors tend to make. These are the five most common seller mistakes.
Landlord or Real Estate Investor: Which one are you?
Whether your goal is to build wealth as a landlord or invest in real estate as an investor, knowing how to manage properties will help you reach that goal. There are many ways to get started with property management - whether you're looking at renting out an apartment in your home, or investing in residential income properties yourself - this article will give you the information needed to choose what's best for your situation.
Signs You Need to Lower Your Asking Price. - Oak City Properties
Are you selling your home? If so, it's important to make sure the asking price is in line with the market. This article gives you a few signs that your asking price is too high and how to adjust it accordingly.
6 Reasons Why Smart Real Estate Investors Get Their Real Estate License
As a knowledgeable real estate investor, you may be looking to take your skills set even further. One way is by getting your real estate license and becoming a professional real estate agent. This article gives you six reasons why smart investors get their license.