|Specialty||# of Agencies|
|Single House or Condo||11|
|Home Owners Association||10|
|Total Local Companies||23|
The average rent for a 3 bedroom house in Charlotte, NC is $1,168.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Charlotte, NC Rental Market Overview
New Rental Unit Construction May Drive Up Charlotte Vacancies
Big things are anticipated for Charlotte, North Carolina this decade. Recently Wells Fargo and JP Morgan Chase expanded their headquarters and more than 50,000 new employees should settle in the area over the next five years. This robust employment forecast encouraged rental unit construction, resulting in the completion of more than 3,500 new units in 2013, a sum that almost exceeds total units built in the Charlotte region over the last three years. The surplus of units could increase the 5.3% vacancy rate and is one of the key reasons that the Marcus & Millichap 2013 National Apartment Report (NAR) dropped Charlotte from 25th to 29th in their National Apartment Index ranking. The 2013 NAR is optimistic about the long term market potential, pointing out that the vacancy rate remains near the lowest percentages it has been at for many years.
Discover New Ways to Compete in a Renter's Market
Not every tenant wants an apartment that's shiny and new, as indicated by the overwhelming popularity of trendy, renovated warehouse lofts found in successful markets throughout the nation. The 2013 NAR also pointed out the limited number of Class B and C rental assets available to purchase in the Charlotte area, although it explains that cap rate compression might encourage more sales. If you're an independent investor with older rental properties, consider the opportunities available to you through sales or renovations. If you're a small landlord with restored-but-vacant holdings, it's probably time to explore new marketing channels for broader audiences moving into the Charlotte region. Many of these questions and concerns can be addressed by the real estate professionals employed at a property management company in the Charlotte area. Because property managers work with a range of clients they enjoy considerable exposure to a variety of properties and markets. They often share strategies with their clients, providing insights as to what works best in your corner of the Charlotte rental property market. Check out our list of property management companies and ask for your free information today.