These two North Carolina cities rank among top 10 in the world for quality of life

 

Two North Carolina cities offer some of the best quality-of-life amenities in the world, new rankings show.

Charlotte and Raleigh ranked among the top 10 in a study of factors that contribute to residents’ happiness, according to a 2020 index from the user-contributed database website Numbeo.

Raleigh snagged the higher spots, landing at No. 3 globally and No. 1 nationally, results show. The Queen City wasn’t too far behind, ranking eighth in the world and fourth in the United States.

So what led North Carolina’s cities to earn international acclaim?

Raleigh and Charlotte had high scores for climate, a category that gives weight to places with “moderate temperatures and low humidity and no other major weather condition which is usually not preferred by most people,” according to Numbeo.

The Tar Heel State’s biggest cities also got favorable ratings for purchasing power and the ability to afford housing based on family incomes, the results show.

The findings come after three Raleigh suburbs ranked among the best small cities in the United States, The

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News & Observer reported in October. More recently, a real estate blog named the region one of the most attractive for millennials.

Numbeo says it came up with its recent rankings for 232 cities after using formulas to evaluate data related to prices, pollution, health care, traffic and safety.

In the United States, other cities that made it into the top 10 list were Madison, Wisconsin; Columbus, Ohio; and Austin, Texas, findings show.

Worldwide, the top quality-of-life ranking went to Canberra, Australia. The capital city of nearly 400,000 people is about 400 miles northeast of Melbourne.

 

https://www.newsobserver.com/news/state/north-carolina/article238190969.html

https://www.newsobserver.com/news/business/article182998261.html

https://amp-newsobserver-com.cdn.ampproject.org/c/s/amp.newsobserver.com/news/state/north-carolina/article239791518.html

Top Ten Outperforming Metro Markets Report

The National Association of REALTORS® identified the top metro areas for the next 3-5 years based on domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables.

In alphabetical order, the markets are:

  • Charleston, South Carolina
  • Charlotte, North Carolinatop-10
  • Colorado Springs, Colorado
  • Columbus, Ohio
  • Dallas-Fort Worth, Texas
  • Fort Collins, Colorado
  • Las Vegas, Nevada
  • Ogden, Utah
  • Raleigh-Durham-Chapel Hill, North Carolina
  • Tampa-St. Petersburg, Florida

“Some markets are clearly positioned for exceptional longer-term performance due to their relative housing affordability combined with solid local economic expansion,” said NAR’s Chief Economist Lawrence Yun. “Drawing new residents from other states will also further stimulate housing demand in these markets, but this will create upward price pressures as well, especially if demand is not met by increasing supply.”

NAR identified the top 10 metro areas based on a myriad of factors, including domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables.

“Potential buyers in these 10 markets will find conditions especially favorable to purchase a home going into the next decade,” said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. “The dream of owning a home appears even more attainable for those who move to or are currently living in these markets.”

Strong job growth is one factor driving up prices in these markets, with payroll employment rising about 2.5% annually in the last three years, higher than the national rate of 1.6%. In Ogden, Las Vegas, Dallas, and Raleigh, job growth rose nearly 3%.1

Movers2 flock to these markets at higher rates than the average of the 100 largest U.S. metro areas. In Colorado Springs, recent movers accounted for 21% of the total population, followed by Fort Collins at 17% and Las Vegas at 16%. These areas attract various age groups. For example, 11% of the people who moved to Tampa were 65 years and older, while 54% of recent movers in Durham were between the ages of 18 and 34. 

In most of these metro areas, about half of recent movers who are renting can afford to buy a home in those respective markets when compared to the nation’s 100 largest metro areas. Homeownership rates in these markets are expected to increase due to the relative affordability.

To view NAR’s Top 10 Outperforming Markets report, visit https://www.nar.realtor/reports/top-ten-outperforming-metro-markets-report.

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

 

 

https://www.nar.realtor/newsroom/nar-identifies-10-markets-expected-to-outperform-over-the-next-three-to-five-years

12 Trouble Spots To Watch For When Renting Out Property

Renting out a property can be profitable, but there are a number of potential issuesDepositphotos_5177593_l-2015-300x200 to watch out for, including tenant troubles, property maintenance issues, vacancy costs, or even a failure to reach your overall investing goals.

In order to avoid problems, owners should be mindful of the things that can affect the rental value of their property—or their long-term peace of mind when it comes to a tenant. Below, 13 members of Forbes Real Estate Council share some of the most crucial elements that owners or property managers should focus on when renting out a home, as well as why those elements are so important. Here’s what they said:

1. Tenant Reference And Employment Checks

This should go without saying, however, too many landlords meet prospective tenants in person and trust them because they are nice and affable people. Unfortunately, not everyone has the best track record with their previous landlords and a lot of future pain can be saved by both asking for references and actually calling the previous landlords. – Colin Bogar, Property Passbook

2. Systems Failing And Things Breaking

Have a plan before things break and systems fail. Build relationships with plumbers, electricians, handymen, etc., creating a strong network of vendors that you can trust. Empower your tenants to get immediate help by having a list of approved vendors in a book you can leave at the property. If you manage multiple properties, you can use this as leverage with the vendors to secure better rates. – Katie Brown, Downtown Katie Brown, Realtor

3. Eviction Rights

Don’t rent to anyone you can’t evict. Who rents your home will make or break your rental income. If it is your friend, family or partner then when the time comes to make that decision of evicting, you won’t do it. Which means you don’t have a rental, you have a charitable contribution. Decide now if it is a rental or a charity and pick rental tenants only. – Joseph Edgar, TenantCloud

4. Realistic Rent Amounts

Check local rental listings to find out what you can realistically charge. If you want to find a good tenant, the rent must be comparable to the going market rate. – Beatrice de Jong, Open Listings (YC W15)

5. Local Laws

Landlords will be tempted to rent more space than is locally allowed, such as a finished basement that is not approved as a legal unit. Also, with Airbnb becoming popular for landlords, as well as a hot button issue for communities, knowing the specific laws and guidelines is crucial. Fines for these types of actions are very costly and will kill your profit. Short money could become a long problem. – Ralph DiBugnara, Home Qualified

6. Your Investing Goals

One thing many first-time landlords forget to do is define their investing goals. We certainly did this with our first rental property. We figured, as long as it was cash-flowing, we’d keep renting it out. However, we failed to take into account the appreciation and diminishing return on equity. Had we defined our investing goals up front, we could have grown our portfolio much more quickly. – Annie Dickerson, Goodegg Investments

7. If The Numbers Work

Before you get emotionally invested in the idea of converting your home into a rental, you have to run the numbers. Ask yourself: “If I was a real estate investor analyzing this property for potential purchase as a rental, do the numbers work?” A fundamental rule of sound rental property investing dictates that the rental should cash-flow from day one. Run the numbers and let them guide you. – Spencer Hilligoss, Madison Investing

8. Condition Of The Home’s Maintenance

In assisting a client with finding a rental property, you must consider the condition of the home’s maintenance. Whether a relocation getting a sense of the area or moving from an apartment, the rental experience can make or sour the client to an area, ownership and your service. Always inspect the HVAC and appliances, as dealing with them can be a hassle your client blames on you. – Blake Plumley,Capital Pursuits LLC

9. Getting Long-Term Tenants

Consider finding tenants that are interested in longer-term leases as this will save you time and money in the long run. Any property rented out will experience wear and tear, but you can avoid this annual cost if tenants are not moving out each year. Additionally, this will save you lost rent that comes with having a vacant property and the time it takes to find a new tenant. – Joshua Lybolt, Lifstyl Real Estate

10. Renters Insurance

I always make sure that the tenants who rent my clients’ properties have rental insurance coverage. This protects them in the event that something goes wrong during the tenancy. – Deborah Rabbino Bhatt,Vesta New York

11. Vacancy Costs

Remember that pricing a property at market rate helps you become cash flow positive sooner and lowers vacancy costs. Landlords often price their property above market rate to “see what you can get.” Starting your pricing too high actually lowers interest from renters. As your property stays on the market longer, it becomes stale and takes longer to rent. We’ve seen this increases vacancy costs. – Chuck Hattemer, Onerent

12. Property Inspection

Getting a property inspection prior to tenants moving in is always a good idea. It will help owners understand if there are any “hidden” issues within the home so that they can make repairs on them before they could snowball over time. This will hopefully prevent any potential injuries or late-night calls from the tenants and will give both parties peace of mind! – Brad Le, Compass

Source: forbes.com

Study: Raleigh rental rate growth among highest in U.S.

Rents in Raleigh are up 3.6 percent over the past year, the 6th-fastest growth rate among the nation’s large cities, a new study from Apartment List says. For comparison, the national rent index grew by just 1.5 percent over the past year.Capture

For even more historical perspective, rents in Raleigh have risen by 17.4 percent since 2014, outpacing the national average of 12.7 percent, the study says.

But Raleigh’s median rental rate is still a relative bargain. The median rent for a two-bedroom apartment in the City of Oaks is currently $1,159, compared to the national average of $1,855.

This is the seventh straight month that the city has seen rent increases, after a decline in October of last year. Raleigh’s year-over-year rent growth is also above North Carolina’s average of 2.8 percent.

Throughout the past year, rent increases have been occurring not just in Raleigh, but across the entire state. Of the largest 10 cities that Apartment List has data for in North Carolina, all of them have seen prices rise.

Cary is the most expensive of all North Carolina’s major cities, with a median two-bedroom rent of $1,280. Of the 10 largest North Carolina cities that the report has data for, all have seen rents rise year-over-year, with Wilmington experiencing the fastest growth (up 4.7 percent).

The Apartment List report revealed Henderson, Nevada, had the highest year-over-year rent growth in the U.S., with an increase of 4.5 percent – nearly three times the national rate. Another North Carolina metro, Greensboro, ranked just behind Raleigh on the national list, with a rental rate growth of just under 3 percent. National rankings are based on cities with a population of at least 250,000.

Apartment List uses median rent statistics from the U.S. Census Bureau, then extrapolates them forward to the current month using a growth rate calculated from its listing data. The report uses a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide a picture of rent growth in cities across the country.

By   – Associate Editor, Triangle Business Journal

https://www.bizjournals.com/triangle/news/2019/06/05/study-raleigh-rental-rate-growth-among-highest-in.html?ana=e_me_set1&mkt_tok=eyJpIjoiTWpZNE0ySTFaR1kzWkRRMSIsInQiOiJBSmRVNkpxS0N1eEorMHVmUHhZOVVERkpkMTZVekw4SDNtaExvN0l2TmhrTnBtMkwxaWJ1NlppOUxTNHlMQlZ3aExyOVBXRnRiYTJPckdBWW84U1wvMko2N1NKVk1BbW5SRWlDXC9uTmZnZlZFOVdhT3JNeG9JTjltdlwvT3NrNFlmNyJ9

5 Ingredients of a Good Tenant

What 5 Ingredients Make Up a Good Tenant?

By John Nuzzolese

Most landlords try their best to select good tenants to occupy their rental properties. Some are very successful at it while others always seem to end up with bad tenants regardless of how much they try.

In order to find a good tenant, we need to first understand the qualities or ingredients that a good tenant is made up from. Once we understand what ingredients we are looking for, we can carefully screen applicants with the right ingredients in mind. The LPA has a few tools I’ve listed below that can help you determine if your applicant has the desired qualities you are looking for in your screening process.

So What Are the 5 Ingredients that Make Up a Good Tenant?

  1. Honesty / Integrity Trust… reliability… decency are qualities that come to mind when I think of a top quality tenant. I want a tenant who will do what he agrees to do. Someone who morally chooses to do the right thing. A person whose signature on a contract signifies a binding promise they will keep.
  2. Creditworthiness If I am going to give legal possession of a valuable piece of real property to a tenant, I’m going to first want to know I’m dealing with someone with a good track record concerning credit. We have the technology available now that can give me a credit report on the computer instantly on any rental prospect, so I definitely want to assure myself that my prospect deals with financial matters in a reputable way.
  3. Ability to Pay Does the tenant have sufficient income or other resources to easily pay the rent and other living expenses every month? Is the tenant employed or just independently wealthy? Does the tenant depend on any other parties to survive? The answers to these questions will tell you how secure this tenancy will be.
  4. Cleanliness A clean tenant has higher standards than a dirty tenant. It is a fact that clean tenant will care for your rental property better than a dirty tenant.
  5. Respect This is an important one. I have had the worst experiences with people who do not respect others. They may not even respect themselves, which usually means they won’t treat your property very well since they don’t respect it either. If they do not respect you as the landlord, you have a recipe for trouble.

Source: The Landlord Protection Agency, Inc.