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Property Management Blog

How You Can Save As a Renter?

Phyllis Portie-Ascott - Wednesday, February 12, 2014

MSN Real Estate composed a list of four reasons that you as a tenant may be able to save on your rent.  The first reason on this list is because the property is priced higher than comparable units in the area.  The second reason would be if you are an excellent tenant that has an excellent payment history.  With this reason, the landlord may also consider your credit score and your payment history with other bills.  You can also take it a step further by having your monthly rent automatically drafted from your account the first of every month.  The third reason offered by MSN Real Estate is if you are able to pay your rent a few months in advance.  Finally, they suggest working for your discount.  If the property has any maintenance that needs to be done, offer to fix up the property at your own expense and negotiate with the property owner to reduce your rent.  If all else fails, MSN Real Estate suggest that you find a roommate to help absorb the cost; downsize to a smaller living quarter; and conserve on your utilities.


http://realestate.msn.com/how-can-you-save-as-a-renter?page=0


   

Foreclosure Down in Durham

Phyllis Portie-Ascott - Wednesday, February 05, 2014

In January of 2014, the Hearld Sun did an article reporting that the foreclosure rate in Durham had decreased in 2013.  Foreclosures were down by 20 percent in 2013, the lowest it had been since 2002 in the county of Durham.  Overall, foreclosure filings were down 18 percent compared to the 2012 filings in North Carolina; the lowest it has been since 2005.  According to this article, this decease in filings may be reflected through less distressed properties being put up for foreclosure and investors willing to pay cash for certain properties on the auction block.  This decrease in foreclosure filings reflects a growing property market and a positive trend. 


http://www.heraldsun.com/business/localandstate/x318370225/Foreclosure-filings-down-in-2013-in-Durham 


Why Hire A Property Management Company

Phyllis Portie-Ascott - Wednesday, January 22, 2014

Recently, we came across an article from allpropertymanagement.com and they came up with a list of 10 reasons to hire a property manager.  The article explained that owning a rental property could be financially rewarding; however, it requires a large amount of your time and energy.  A few reasons they recommend a property management company is to set the proper rental rate, compared with similar properties in the area; they find the proper tenants by conducting background and credit checks; and they manage vendor relationships, often finding vendors who are dependable and building a relationship where the vendor becomes familiar with the property. 


http://www.allpropertymanagement.com/resources/hiring-a-property-manager/10-reasons-to-hire-a-property-manager-a6.html



Durham: Ranked #4 Best Place to Live in 2014

Phyllis Portie-Ascott - Tuesday, January 14, 2014

In a recent article, Livability: America's Best Places to Live and Visit ranked Durham as the number 4 best place to live in 2014.  Other North Carolina cities included on this list were Greensboro, NC ranked number 19; Asheville, NC ranked at number 48; and Chapel Hill, NC ranked at number 71.  The top three cities included: Palo Alto, CA; Boulder, CO; and Berkeley, CA.  


Durham is well known for its schools, including Duke, and its numerous hospitals, allowing the city to be dubbed as "the medical city".  The city includes amenities like the Museum of Life and Science and the Durham Performing Arts Center.       


According to Matt Carmichael, author of the article, Durham's history dates back through tobacco production, textiles, and agriculture.  Approximately 50 years ago, the Research Triangle Park was established as a means to retain professionals from local universities including those in the Raleigh and Chapel Hill area; especially in areas of technology and science. Since then, the city has been able to embrace its past and remake itself into one of the leading industries in research and technology.  More than 1 million square feet of land has been reused and old tobacco mills have been transformed into residential loft and office space, known as the American Tobacco Historic District to maintain its historic importance while blending with modern technology.   


http://livability.reachlocal.net/top-100-best-places-to-live#/berkeley/ca






 


5 Things You Should Never Put on a Credit Card

Phyllis Portie-Ascott - Thursday, December 05, 2013
Credit.com compiled a list of five things they suggest to never pay using your credit card: college tuition, taxes, a big wedding, vacation, and medical expenses.  They argued that credit cards are powerful financial tools, but they must be used carefully to avoid accumulating serious debt.  On the other hand, you cannot predict all expenses and using your credit card maybe the best payment option.  They suggest alternatives to fund each of these five items that would prevent you from accumulating ridiculously high interest rates and will not affect your credit score negatively.  Payment options range from establishing payment plans to living within your means.  The best advice that can be offered is to only charge items that you know you will be able to pay off when you receive your monthly statement.          

Evictions Decline Welcome

Phyllis Portie-Ascott - Thursday, November 14, 2013

The Herald Sun recently posted an article stating that the number of evictions in Durham County has declined approximately 10 percent since last year.  This is good news for renters and landlords because it reflects the market's inflation.  Much like the article stated, foreclosures and evictions seem almost inevitable in today's economy.  Many family are living paycheck to paycheck and cannot withstand a cut in work hours or missing one day due to an illness.  Financial setbacks make it harder to play catch up once their is a missed payment.  


Although there are approximately 400 individuals in Durham County who undergo eviction each month, this number is slowly decreasing.  A decrease, no matter how small, is always welcomed.  Families are slowly recovering from the Great Recession and finding solid ground when it comes to supporting their family.  A 10 percent decrease is a step in the right direction to reducing the number of families that suffer from homelessness each year. 


http://www.heraldsun.com/opinion/x2082480915/Evictions-decline-welcome


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