How to Maximize Rental Property Income with Your Property Investment in Matthews

A rental property in the greater Charlotte area makes a great investment. There’s a strong tenant pool in this area, and there is a lot of potential for cash flow and rental income. Even if you’re already reaping the benefits of a smart investment and you’re earning some consistent income, there’s always room for improvement.

Today, we’re talking about some of the things you can do to really maximize your rental income with your Matthews rental home.

Keep Your Property Well-Maintained

The condition of your home has a major impact on the amount you can charge in rent. When you want to earn more on your rental property, you need to give high quality tenants a reason to pay higher prices. Your home must be clean, functional, and attractive when you want to earn more rental income.

Before you rent out the property, give it a detailed inspection and take care of any repairs or replacements that are needed. Even minor issues should be taken care of right away; this will ensure your property doesn’t fall into disrepair or accumulate deferred maintenance. Putting off necessary repairs will only reduce the value of your rental property.

When you provide a high-quality home, you can maximize your rental income.

Make Cost-Effective Improvements and Upgrades

When you have a clean and well-maintained property, there’s no need to renovate it or make costly improvements because those things will only deplete what you’re earning in rent and long term ROI.

However, a few minor updates and upgrades will give your home a fresh, modern look and allow you to charge more in rent. If your appliances are aging, for example, don’t repair them. Instead, consider replacing them with energy-efficient, stainless steel models. Install new showerheads in the showers and put new faucets and hardware on all the sinks, drawers, and cabinets. Replacing old, worn carpet with laminate or tile is worth the investment. Not only will you earn more in rent, you’ll also attract tenants who are looking for low-maintenance floors.

Focus on Tenant Retention

When your tenants are enjoying their home and feel like you’re providing a great rental experience, they’ll be more likely to renew their lease agreements year after year. This means more money in your pocket, because it saves you on things like turnover costs and vacancies.

Make sure you’re responsive to your tenants when they request repairs. Say thank you when rent is paid on time, and be willing to take the extra steps that make them happy to be renting from you.

Work with Professional Matthews Property Managers

Work with Professional Matthews Property ManagersThe most important thing you can do to earn more money on your Matthews rental property is to work with a professional property management team. Your property managers will help you earn more income, rent to better tenants, and be proactive when it comes to maintenance.

Property managers ensure rent is collected on time, keep you in compliance with all state, federal, and local laws and regulations, and understand how to effectively inspect, maintain, market, and care for your rental home.

If you’d like to talk further about how you can maximize the income you’re earning on your investment property, please contact us at RE/MAX Gold. We’re your best Matthews & Charlotte property management resource.

Photo of Wess CasonWess Cason, Owner/Broker

Wess Cason has over 30 years of residential real estate experience to include property management and associated repair projects. His maintenance team is now expanding their repair & renovation scope beyond property management services to our neighborhood community. We are local and own our offices located in Matthews. We service where we live.

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Photo of Jonathan CasonJonathan Cason, Director of Operations

Jonathan Cason is our Director of Operations. Jonathan brings 20 years+ of top-notch customer service experience to the table that includes mortgage lending, property management, and real estate. He is excited about bringing such a well diverse team to the SE Charlotte area and to your homes!

During his personal time, Jonathan enjoys spending time with his beautiful wife and spending as much time as he can outdoors hiking, fishing, and golfing.

Laura Suitor, Team CoordinatorPhoto of Laura Suitor

Laura Suitor is our Office Manager and serves as the Team Coordinator for Handyman Matters of South Charlotte. She is well experienced in residential needs having coordinated the repairs for 160 rental homes in the Charlotte market.

Photo of Bethany MartinBethany Martin, Team Coordinator

Bethany Martin comes to the RE/MAX Gold team with over 10 years of Property Management experience. Bethany is always committed to providing the very best in service and professionalism to all of Wess Cason’s clients!

When she is not at work, greeting everyone with a warm smile, she enjoys spending time with her husband and 4 children, taking day trips to the mountains and attending as many concerts as she can!

Photo of Jason SuitorJason Suitor, Maintenance Operations Manager

Jason Suitor is our Lead Craftsman and has a wide variety of maintenance skills. From tile work, luxury vinyl flooring, drywall work to faucets, fans and disposals, Jason has done it all. With over 10 years of experience, Jason consistently gets 5 Star Reviews for his work

Photo of Alyssa Cason TobinAlyssa Cason Tobin, MBA

Director of Marketing

Alyssa heads the marketing department , bringing over 10 years of experience across a variety of channels. Focused on building and growing RE/MAX Gold, Alyssa ensures that all marketing, advertising and branding activities are on message and bring value to those in our area.  Being the daughter of the owner, Alyssa considers herself truly blessed to work with family every day in this new business adventure.

On her off time, Alyssa enjoys spending time with her wonderful husband, two beautiful children, family outings, shopping and traveling when she can!