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Buying Investment Property in Charlotte, NC – Things You Need to Know

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Real estate has created more millionaires than any other business. Over the past two decades, retail real estate has created an average annual return of 10.8%, according to data from the National Council of Real Estate Investment Fiduciaries Index.

In Charlotte, specifically, the real estate market is at an all-time high. Twenty-seventeen was especially a strong year for the Queen’s City.  Investors will be particularly pleased to hear that the hot streak continues into 2018.

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Breaking a Lease in North Carolina: What You Should Know

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A lease is a contractual agreement between the landlord and a renter. It defines the duties and responsibilities of each party during the life of the tenancy.

Generally, breaking a lease refers to moving out of the rental unit before the end of the lease period. The reasons why tenants move out can either be legally justified or not.

When justified, you only need to provide the landlord with sufficient notice. However, when the reasons are not justified, penalties will be imposed.

If you are a North Carolina tenant, here’s everything you need to know about breaking a lease.

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Property for Profit: How to Find Your First Investment

An investment property is an incredible way to diversify your portfolio and take advantage of all the benefits that real estate has to offer. After all, the allure of real estate is easy enough to understand. Not only does it offer a residual income, but it also provides the safety of owning a hard asset, the constant promise of price appreciation, and the chance to get creative too! Of course, while it’s easy to get caught up in the excitement of making a property purchase, it’s important to have a solid plan in place.

Jumping into action too quickly could lead to some costly problems later down the line. In fact, you may even find that you end up with a property that has more expenses to deal with than you originally bargained for. With that in mind, we’re going to give you some quick tips for finding your first investment – taken straight from the experts.

1.     Buy with your Head, Not with Your Heart

Buying property is an exciting experience. It’s easy to get carried away when you see all the possibilities that can come with being a landlord. However, don’t let your “gut feelings” get the better of you. Just because someone took the time to wash a house, so it looks attractive from the outside, doesn’t mean it has everything you need to attract a tenant inside. At the same time, a home that looks incredible won’t do much for you unless it’s in an area where people want to live. Think about the audience you want to attract with your real estate investments, and how you’re going to make sure you get the most out of your money.

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What is Renters Insurance and why you should have it?

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What is Renter’s insurance?

In simple terms, Renters Insurance is a personal property and liability policy. It provides coverage for your personal property if they are lost, stolen or damaged in your rented home or apartment. A Renters Policy will also cover your liability if someone is injured at your home and it is deemed your fault.

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How to Establish a Great Relationship with your Charlotte Tenants

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For any business to be successful, the clients should be happy and satisfied. Plus, happy and satisfied residents will stay with you for longer. They are also going to be your best source of new clients.

Unlike other businesses, your rental business is closer to home. Consequently, the importance of keeping the clients – your tenants – happy is intensified.

How do you ensure your Charlotte tenants are happy? Build a great landlord-tenant relationship with them. A great relationship will lead to: (more…)

The Basics of North Carolina’s Security Deposit Law

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When it comes to the security deposit, North Carolina landlords must strictly adhere to the security deposit law. The law stipulates how landlords should handle a tenant’s security deposit.

If this is handled incorrectly, the landlord may forfeit his or her right to keep it. If you are a landlord, here are the basics of the North Carolina security deposit law you need to know about.

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The Best Neighborhoods in Charlotte, NC

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Charlotte is a great city to call home! It was ranked as having the fourth fastest growing economy in America by Forbes. The U.S News & World Report also ranked it as one of the best places to live in America.

These are perhaps the reasons why more than 42 people are moving to the Queen City each day. Studies also show that by 2050, Charlotte will have added about 1.8 million people and 860,000 jobs.

If you are also planning on moving on moving to Charlotte, here is a list of the best neighborhoods to choose from in no particular order.

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What to Include in Your Charlotte Rental Agreement

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To minimize issues, a well-crafted landlord-tenant lease agreement is necessary. This is because a lease is a contractual agreement that forms the foundation of the relationship between you and your tenant.

If you are a landlord in Charlotte and are in need of property management expertise contact our company today!

In any case, here’s what you should include in your rental agreement.

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Guide to the Eviction Process in North Carolina

The eviction process in North Carolina is a relatively straightforward process. Both landlords and tenants are expected to conform to the Chapter 42 of North Carolina General Statutes.

The statutes lay out the procedures landlords must follow when it comes to evicting a tenant. If you fail to adhere to these laws correctly, you might set yourself up for trouble.

Renters in North Carolina can be evicted for a number of reasons. The most common ones include:

  • Failure to pay rent
  • Breaching terms of the lease agreement
  • Refusing to leave the property after the expiry of their lease agreement
  • Engaging in a criminal act such as drug trafficking

If the tenant has committed any of these lease violations, you may legally remove them from the leased premises.

If you are a landlord and unsure of what to do, our team here at Dawson Property Management has compiled a step-by-step guide to the eviction process in North Carolina.

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Overview of Landlord-Tenant Laws in North Carolina

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General Statutes, Chapter 42, Landlord and Tenant govern landlord-tenant laws in North Carolina (NC). This set of statutes dictate what each party under the lease agreement needs to do.

The rental lease agreement in NC automatically terminates if either party fails to perform their responsibilities. This often has legal and financial repercussions. This, however, can be prevented if both parties understand the basics of the law.

Here’s an overview of the North Carolina landlord-tenant laws.

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