Every building has a limit to the amount of people that it can hold. This is normally set by a fire marshal, but if you own the building you can set that limit lower if you want. For example, most apartments that have one bedroom have a two person limit. During this time of year, many apartments will see more than two people in an apartment during the day or even for a couple of nights. I don't know a single landlord that would have an issue with this, especially when it comes to people visiting for the holidays. However, how long is too long to be over that set limit? During the holidays, most people travel to see their friends and family. This can involve going thousands of miles to see someone for a few days before going back home. Sometimes, however, they may stay for an extended period of time. This is common if someone is coming from overseas or if there are multiple events that are spread over a comparatively short amount of time. For example, a friend of mine is flying from Scotland where she now lives to Texas so that she can spend Christmas with her daughter. She will then stay with her for another almost two months until her daughter's child is born. Staying that long in a hotel is not only uncomfortable for most, but also extremely expensive. However, is it okay to have a resident of yours have a guest for that long? We cannot answer this question for you as we do not have the special circumstances that are keeping your resident's guest there for an extended period of time. We don't even know if you would necessarily know if this was happening depending on how often you go over to check on your residents. However, it is something to think about. Just how long is too long to have someone staying in your rental property when they aren't on the lease? With the new year starting, it may be something you start to consider if you have a resident with a guest who is "only there until they get on their feet". Each situation is different, but sometimes changes do need to be made.
Many people looking to rent believe that it is easier to find a rental during the winter months. The thought is that fewer people are going to be moving around the end of the year, which means that any apartments that have been left from the summer and fall will not be picked up around the holidays.. While this seems logical, is there actually any truth to it? Actually, according to a study done by RentHop.com, there most certainly is. The study followed the average rent of a one bedroom apartment in ten different large areas. The results showed that from November through to April, there was a significant decrease in the amount of rent paid in every single city they checked. Even New York City, which is widely regarded as the most rented out city in the country had a difference of around $140 a month. When you take into consideration the fact that rent in New York City is some of the highest in the country no matter when or where in the city you look, this is an incredible piece of information. Each of the other cities followed suit to varying degrees. There were few exceptions in this study, however Charlotte, NC was one of them. Interestingly enough, the rentals in your area don't follow this pattern. While the rent was calculated at the highest in August, the second highest month was January. November was actually the cheapest month on average to move to Charlotte, followed by December. There is actually a two and a half percent increase in rental prices between December and January. Unfortunately we don't really have any reason why this occurred in North Carolina. As property owners in this state, you may have noticed the trend yourself. This may be due to the milder weather seen in your area as opposed to other locations, but even Miami, FL and Atlanta, GA followed this pattern. Knowing this, however, you can adjust your rent appropriately. You may also just want to wait a month or so for someone to come to check out your apartment. Ask around and see if anyone else has noticed this and what they do about it. Sometimes things are just different in some places and there's nothing we can do about it.
Now that the holidays are upon us, there are a few very serious points we want to touch on. According to the Red Cross, almost 47,000 fires occur during the holiday season and claim around 500 lives each year. There are also around 2,200 injuries from these fires and they end up costing around $554 million in damages. This is something that happens every year and we all need to do our best to ensure that these numbers go down. Some of you may have heard about the large fire in Cambridge, MA that occurred only a little while ago. Unfortunately, around this time of year that is not an uncommon headline. The Red Cross states that candle fires are four times more likely to happen during the winter holiday season. Always be sure to keep an eye on any candles that may be burning and never leave them unattended, even for a second. If you are leaving the room, be sure to blow them out and the second you start to feel drowsy from all the food or eggnog, make sure they are all extinguished. Also, never let kids play with fire, matches, lighters, or candles. An average of 40 house fires a day are caused by children playing unsupervised. The Red Cross suggests making sure that any decorations are placed at least three feet away from any open flame or radiator. If you have a real tree, be sure to keep good care of it, as on average, one out of every 22 fires that start because of a tree result in at least one death. Make sure they are kept watered and the needles are nice and green. Make sure that any lights you use are in good condition and that the wires are properly insulated. Never use live candles to decorate a tree, as again they are very flammable. Make sure that your tree, real or fake, is kept in a solid stand that will prevent it from tipping over. Keep children and pets away from the tree to help reduce the risk of damage and fire. Always turn off or unplug all lights before you leave home or go to bed as well. Most importantly, make sure your smoke detectors are working correctly! They can reduce your risk of fire related death by half. The holidays are a wonderful time of the year, however they can also be dangerous. Please keep these safety tips in mind to keep your season from turning into something you'd rather forget.
This year more than most, we have seen some horrible natural disasters. We have also seen some pretty terrible man made ones as well, however it is often scarier to think about what nature can do to us if it does so choose. Hurricanes like those we have seen this season are supposedly rare, however we had two or three back to back with the season still not technically over. What can you, as a property owner, do to help your tenants prepare for situations like these? Here are a few ideas for you to think about in regards to being well prepared. 1. Have An Escape Plan. Whether you are talking about a state evacuation plan or simply how to easily get out of the apartment, you should always encourage your tenant to have an escape plan. Things like fires can happen in the blink of an eye and it can be difficult to think in the moment if you have not prepared for it. Although in an emergency like a fire there is nothing you can do to help your tenant, it certainly doesn't hurt to have them think about what they can do if these things were to occur. 2. Have an Emergency Kit. One of my friends who has a few rental properties always includes an emergency kit when a new tenant moves in. This consists of extra batteries, a hand powered radio, a first aid kit, emergency numbers, and a few other things. While none of them have ever been needed, thankfully, most tenants take them along when they move due to how important having these things on hand is. Many landlords like to give their tenants moving in a small gift, but something like this is often far more appreciated than anything else due to its practical nature. Having these kits also may help the tenant to think of what they will need to purchase if they leave it when they move. We never want to think about what we would do in an emergency, but it is something that really does need to be considered. Having a plan is half of the battle when it comes to keeping yourself and your loved ones safe. These are only two ideas to help you prepare for these disasters, but they are a good place to start.
With how much money is often spent by landlords, one of the most common questions we get is, "Why should I pay you to do something I can do myself". We concede that this is a great question and that using our company and services may not be right for every person. However, we also know what it is like to be a single person out on your own trying to work everything out yourself. Sometimes you just need a little help, and that is exactly what those of us here at Talley mean to do. Having a property management company is mostly meant to help you in the long run. While you may think that you can handle all of the issues on your own, it can quickly become overwhelming when you have multiple people trying to send you rent money, call for repairs, ask about your policies, and send in complaints about other people who live in the complex. While we fully understand that you are more than capable of dealing with this on your own, we also understand that you are only one person and you probably want to spend time with your family and friends and not have your entire waking life filled with other people's problems. Here at Talley, we can actually take care of most of the things you need done. We can help you collect your rent, fill out monthly statements for your residents, and do any number of other balancing acts of accounting that you need done. We also help to provide you and your residents with 24 hour maintenance by using local contractors and will get your apartment move-in ready with painters, cleaning, and anything else you need. Lastly, we are the ones that will mostly deal with your tenants from screening and selection to the time they move out. We will also deal with evictions if a tenant of yours ever causes that to occur. At the end of the day, having Talley on your side is meant to help put your mind at ease. We know how stressful it can be having your property inhabited by someone else, so we want to do everything we can help you feel more relaxed. Call us today and see just how much we can do for you and your residents.