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North Carolina: The Tar Heel State
North Carolina has an estimated population of 10,453,948 residents, making it the ninth-most populous state in the nation. The state capital is Raleigh, while the largest city is Charlotte. It is known as the Tar Heel State and the Old North State.
North Carolina boasts a thriving economy centered on finance, energy, agriculture, and the arts. Second only to New York City, the Tar Heel State is the largest banking center in the nation. In terms of arts and culture, North Carolina is home to countless museums. These include the North Carolina Museum of Art
, Bechtler Museum of Modern Art
, the Contemporary Art Museum of Raleigh
, the Carolinas Aviation Museum
, and the Mint Museum
Several performing arts companies also call North Carolina home. These include Opera Carolina
, the Charlotte Symphony
, and the Carolina Ballet
. There are also a number of performing arts venues in the state, such as the Duke Energy Center for the Performing Arts
, the Halle Cultural Arts Center
, and the Brevard Music Center
. Sports also play a significant role in the culture of North Carolina, with major teams such as the Carolina Panthers (NFL), the Charlotte Hornets (NBA), and Charlotte FC (MLS).
Colleges and universities located in the Old North State include North Carolina State University
, Duke University
, and the University of North Carolina at Chapel Hill
. Other notable attractions include the North Carolina Museum of History
, the North Carolina Museum of Natural Sciences
, the Charlotte Motor Speedway
, the NASCAR Hall of Fame
, the J. C. Raulston Arboretum
, and the North Carolina Zoo
How Is North Carolina's Rental Market?
North Carolina is home to a growing rental market. The median sale price for a house in the Tar Heel State is $330,000, representing a 17% year-over-year change. There are many renters here, too. In fact, renters make up 34.8% of the state's population.
Image via towncharts.com
Landlords can also earn decent returns in North Carolina. In 2019, the median rent was $931. While this was lower than the national median of $1,097, it was higher than the previous year's state median. Moreover, rent has been increasing in the Old North State since 2012.
Image via deptofnumbers.com
In terms of vacancies, North Carolina has an above-average vacancy rate. In 2019, the state vacancy rate was 6.60%, whereas the national vacancy rate at the time was 5.97%. That year's vacancy rate was definitely higher than the national rate, but it still represented a dip from 2018's rate.
Finally, North Carolina has generally landlord-friendly laws. Landlords don't have to toil over complex eviction processes, and property taxes are also low.
Why You Need North Carolina Property Management Services
Anybody can see that North Carolina has an attractive rental market. With a large pool of renters, a low vacancy rate, and reasonable rental prices, it is easy to understand why property investors flock to the Tar Heel State. However, a big problem many landlords face usually has to do with hands-on management.
This is where a North Carolina rental management company can step in to help.
A professional management company provides services that would make the lives of landlords much easier. While not all companies offer the same solutions, they generally include the following:
- Rental property advertising
- Tenant screening
- Rent collection
- Lease preparation and enforcement
- Property inspections
- Maintenance and repairs management
- Tenant retention and management
- Eviction proceedings
- Budget management
- Tax assistance
Find Property Management in North Carolina
If you are renting out your home in the state of North Carolina and are in search of a new property management company, you've come to the right place! Rental Choice is a great source to start your search. It is a user-friendly online directory that helps you find and contact a North Carolina property management company to help you oversee your rental property.