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Archive for February, 2019

Do you own a rental property in Raleigh, Durham, Cary, Morrisville, Chapel Hill, Hillsborough, Mebane, Graham or anywhere in Wake, Durham, Orange and Eastern Alamance counties of North Carolina?  If so we can help. MLSullivan  for nearly a decade has been assisting property owners with their property management needs.  We manage single family, multi family, condominiums and townhouses through out the region. We have systems in place for seamless and efficient property management solutions. Learn more at our property management portal or at our web site; MLSullivan.com. You can always email Michael Sullivan at Michael@MLSullivan.com and our telephone number is 919-493-7633.

Full-service property management 

  • Multiple Listing Marketing 
  • Professional Photography 
  • Property Analysis – an in-depth analysis of projected income and expenses and a property needs analysis. 
  • Tenant vetting – which includes showing your property. We require a 625-credit score and debt to income ratios 55% and lower (including rent) in order to offer tenancy. 
    • Criminal background check 
    • Eviction background check 
    • Credit background check 
  • Standard lease agreement with five-page procedures addendum 
  • Electronic document service for landlords and tenants. 
  • Tenant move in concierge service: 
  • Utility coordination  
  • Key service
  • Electronic rent collection 
  • Electronic rent disbursement 
  • 24/7 cloud based and fully interactive property management software.  
  • Landlord access to property management cloud based portal 
  • Tenant access to property management cloud based portal 
  • Maintenance notification 
  • Trusted, and when appropriate, appropriately licensed and insured vendor partners. 
  • Property preparation and punch out between tenancies 
  • Complete project management between vendors and owners which includes price quoting and budgeting. 
  • Small claims/eviction representation and well qualified legal partners when needed.  
  • Property monitoring: 
    • Exterior walk around inspections every four to six weeks and interior walk through tours/inspections with tenants bi-annually in the first and third quarters.  We will walk through and inspect more frequently when circumstances present. **call for details. 
    • Inspections reported to owners with written report and photos when needed. 
    • In depth property needs analysis. 
    • Home owner association compliance.  
    • Home owner association liaison. 
  • Comprehensive accounting with 24/7 cloud-based access to landlord clients. 
  • Comprehensive account reporting for annual taxes. 
  • 24 years market experience. 
  • Daily account reconciliation- when funds are ripe, those funds are disbursed to our landlord clients.  
  • 7-day emergency property monitoring because tenant occupied homes never take a day off.  
  • Efficient and professional office staff and management staff. 
  • Fully insured. 

We also offer limited service/tenant finder solutions. Please phone or email to discuss this service, Michael@MLSullivan.com or 919-493-7633.

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Here’s how the numbers look January 2018 vs. January 2019 in the Triangle Residential Real Estate Market

January 2018 closed sales

2172 closed sales, 30 average days on market, average list price $288,830; average sale price $284,544

January 2019 closed sales

1967 closed sales, 30 average days on market, average list price $304,496; average sale price $299,608

**TMLS SOURCE OF DATA

Do you know someone who might want to sell, buy or lease residential real estate?  We can help: call or email us.

Companies that will buy your home. I’m sure many of you have seen the ads for companies that will buy your home. They will if you’re willing to leave between 10%-12% of your equity on the table and even higher sometimes. So if you’re selling a $300,000 home in the Triangle, in a hot market where sellers aren’t really affected with too many repair issues and very short time on market then one of these schemes would cost roughly $30,000 in equity, measure this against $18,000 in commission and that’s $12,000 extra dollars coming out of your pocket.

**source Adventures in Real Estate Tech

Tax valuation notifications are out. Some of you might be a bit sticker shocked at what the county thinks your home is worth and of a potential for a property tax increase. The likelihood of an increase in the Triangle Region is good, however it should be nominal if past history is an indicator. Yes, your home ‘value’ may be up but the counties have historically reacted to this increase in ‘values’ by decreasing the tax rate. The rub here? The counties in North Carolina have until mid-year to set their rates. So now…we wait.

See our listings at MLSullivan.com

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