Retirement was creeping up and I had to make some hard investment decisions. It was also the time of the economic downturn and properties had crashed. To invest in a property was a tough choice - would prices drop further and how would I go about finding tenants? I decided to bite the bullet and I bought two condos for rental in my hometown of Charlotte, NC. I was going to settle there anyway with my family. And it was the fastest growing city in the past decade in America. Something must be attractive there.
Things didn't work out the way we planned our retirement. I began by remodeling the condos and handling them myself – then I realized how difficult it really was and how little I knew about rental management. I had a huge problem in tenanting them in the first place. I didn't really know who the right people were or whether I'd be facing problems with them in the short or long term. Then there was the question of collecting the rent, and the calls about annoying little things, but I had to attend to them. When your tenant complains you have to respond because it is part of the agreement and your obligation. This was something that I did not think clearly through.
At one stage I felt I had made the wrong decision and thought of selling the condo. Property prices were on the rise, barely, but there were still no takers. So we decided to confront and deal with our situation. Our plan was clear – we'd hire a property manager to manage our rental condos and rent our home out as well, and we'd go off to see the world. We both love traveling but had never found the time or opportunity to see the places we have only heard about.
I carefully researched Charlotte Property Management Companies and decided that Tally Properties looked pretty attractive, an old and experienced firm that was managing properties spread out around the Charlotte area. They are a full-service real estate and property management company that handles anything you need, from day-to-day management operations to paying your property taxes. This Charlotte based property management company specializes in mid-range to high end commercial and residential properties. This suited us perfectly since I didn't want to be bothered, especially when we were traveling. It was the best decision we could have made.
Relaying the Responsibility
Talley Properties assured us of excellent service and has lived up to their commitment. They tenanted our condos and our home at prices we were pleasantly surprised at. They ran a credit check, acquired the leases after they were signed, and completed all the formalities. They collected and deposited the rent and keptme posted by email wherever I was so I was informed. If there were any maintenance issues and ifit was beyond the condominium association's capability or agreement, Talley Properties kept me abreast on the situation. So if the refrigerator starts acting funny or if the toilet leaks, it is no longer of my immediate concern.
Knowing the Real Estate Market
The other advantage with Talley Properties is that they know the real estate market in and around Charlotte. They're able to price a property and they know how to manage it. I'm thinking of a vacation rental this time around and they're searching some for me. I'm delighted with the services Talley Properties provides me with. I would unhesitatingly recommend them to any investor or real estate buyer looking for top-quality property management services in and around Charlotte, NC.