Should you Rent or Sell Your Vacant Home? – Charlotte Market Property Management Advice

A vacant home is a huge financial drain. Whether you’ve moved out of a property into a new house or you’ve left the area for a while, leaving it unoccupied is a risk and an expense. Selling the home is always one option, but it’s not the only option. You could also rent it out and earn some cash while you retain the asset and allow its value to continue growing.

Whether you should rent or sell your property depends on your financial situation and your long-term goals. We’d be happy to talk to you about your unique circumstances, and in the meantime, we’re talking today about what you should consider while making this decision.

Selling a Vacant Home: Instant Profit and No More Worries

Most owners are eager to sell their home, especially in a strong sales market like we have now in Matthews and throughout Charlotte. Selling a home will give you an immediate profit, especially if you have some equity in the home and you’ve paid off a good chunk of your mortgage. It also helps if the sales market is strong and you’ll be able to get the price you want.

If you need cash for other things, selling the property is the best idea for you. You don’t want to wait for a weaker market, and you don’t want the value of your property to unexpectedly drop. If there are other investments you’d like to make or you need some money to make a down payment on the home you want to move into or you’re sending a child to college or traveling around the world on a sailboat, selling your home and moving on is a good idea.

You also won’t have to worry about the asset any longer. You can conduct the transaction and walk away without any emotional entanglements or attachments. If you’re moving out of the Charlotte area and you’re pretty sure you’ll never come back, this freedom can be a good reason to sell.

Renting Out your Charlotte Area Property: Long Term Financial Stability

Renting Out your Charlotte Area Property: Long Term Financial StabilityIf you’d like to earn some consistent rent income and long term ROI, you are better off holding onto the property. When you don’t have any real financial need for a large sum of cash, keep the home and rent it out to a good tenant. You’ll find you’re able to bring in some cash flow and build a bit of wealth for the future.

The longer you own your property in Matthews, Charlotte, or any of the surrounding areas, the more it will be worth to you. By renting it out, your tenants are paying your mortgage and contributing to the expenses associated with an investment home, such as taxes and insurance. They’re also covering the utilities and keeping the property from staying vacant and unused. All of this is happening while you keep the asset and benefit from its growing value and your positive equity.

When you rent the property out, you can also access several tax benefits that aren’t available to you when you sell. There’s no need to worry about how you’ll find tenants, maintain the home, and stay up to date with all the laws and requirements associated with renting out a property. Professional property management companies are available to help you. Experienced investors know that property managers are not only good at caring for your property; they can also help you earn more and spend less on your investment.

If you’re still not sure about which direction is right for you, contact us at RE/MAX Gold. We can help you figure it out. If you have any questions about property management in Matthews, Charlotte, or the surrounding areas, please contact us at RE/MAX Gold. We serve owners and investors in Mecklenburg, Union, Cabarrus, and Gastonia Counties.

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!