Durham, NC: Bull City
With an estimated 283,506 residents, Durham is the fourth-most populous city in North Carolina. It also functions as the seat of Durham County. Durham is home to a number of higher education institutions, including Duke University and North Carolina Central University.
In terms of arts and culture, Durham does not disappoint. It is the location of the Nasher Museum of Art, the Durham Performing Arts Center, the Museum of Life and Science, and the Carolina Theatre. Durham also holds several events throughout the year. These include the Bull Durham Blues Festival, the OUTsouth Queer Film Festival, the Full Frame Documentary Festival, and the American Dance Festival.
While Durham does not have a major league sports team, college sports do play an important role in the city’s culture. The sports teams from Duke University, in particular, attract a lot of fans. The university’s men’s basketball team has sold out every home game at the Cameron Indoor Stadium for decades. Other notable points of interest include the Sarah P. Duke Gardens, Eno River State Park, and the Duke Lemur Center.
How Is Durham’s Rental Market?
The real estate market in Durham is fairly average, with home values 3% below the national median. The median listing price for a home in this city is $220,800. Affordable homes are not the only reason Durham is popular among property investors, though. The city also boasts a large renter population. In fact, about half of the residents here are renters.
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In addition to that, Durham also offers decent rental income. The median rent in this city was $1,065 in 2019. In contrast, the national median rent was $1,097 in the same year. Rent in Durham has been slowly rising throughout the years, a huge draw for rental property investors.
Image via deptofnumbers.com
Apart from that, Durham also has a low vacancy rate. In 2019, the vacancy rate was 4.68%, down from the year prior. This is also lower compared to the national vacancy rate of 5.97%. To top it all off, North Carolina is a generally landlord-friendly state.
How a Durham Property Management Company Can Help
Given the state of its rental market, it comes as no surprise that property investors are flocking to Durham. Owning a rental property, though, is vastly different from managing one. For most owners, property management in Durham is simply too time-consuming or difficult to achieve. After all, there are often too many tasks to keep track of.
This is where a Durham rental management company comes in. A professional management company can assist landlords with everything they need. While services can vary from one company to another, most involve the following:
- Rental property advertising
- Tenant screening
- Property showings
- Rent setting and collection
- Lease agreement preparation
- Routine inspections (including move-in and move-out inspections)
- Lease terms enforcement
- Maintenance and repairs management
- Tenant support
- Budget management
- Tax preparation
- Eviction assistance
Looking for Property Management in Durham?
It is not easy to find a property management company in Durham that matches your individual needs and budget. You also need to perform a thorough vetting process to ensure you choose the best one. With Rental Choice’s online directory, though, you can simply browse through the available companies in your area. Rest assured that our listings consist of only reliable management companies.
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