Property management companies are hurting also in these trying times.
Those of you that are licensed in North Carolina get the North Carolina Real Estate Commission newsletter. When you go to the back section to see the list of "Bad guys in Real Estate" you may not have noticed that of the 45 violations Property Management had 16 and all others were 29. Most of the violations were related to trust account discrepancy.
When you look at the way things are now it makes sense but 1 year ago you did not see it coming. I know that I did not see it coming. In large metropolitan areas the rental market is going crazy. In small rural areas where there is no industry and there are NO jobs, it is a totally different situation.
We do have good news here. Snap On in Murphy is hiring 50 new employees. Young Harris College is hiring Professors and some want to rent before they buy so they come to us.
Mark your calendars for April 18th. Mountain Manager & Associates will be having a seminar for "Investors/Landlords". We will have various speakers that will discuss everything from
Your legal nightmare-Mold to How to Screen a Tenant.
I must share an amusing story about Lou Anne Reagle, one of our property managers. While Lou Anne was out showing property recently she came in contact with a local who wanted to rent one of our homes. He said that he had chickens and he hoped he could bring them with him. Lou Anne (still somewhat “City-fied”) said she would have to check with the homeowner's association and see if it was acceptable. He (definitely “Country-fied”) then said, "All I really care about is coming home after work, have a beer and then go outside and fluff my chickens". Lou Anne spent the next couple days talking to local farmers asking them what “fluffing” their chickens was and thinking this was a local slang. As it turned out, he didn’t rent from us. Our lease has a no “Chicken Fluffing” clause.
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