Follow Kevin Twitter Facebook
Email Kevin Email
Residential Real Estate
Jun 15, 2014

Would Renting Out Your Home Be A Good Investment?

Sponsored Content provided by Kevin McKoy - Broker, Network Real Estate

We all know that buying a home can be a smart investment. But what about purchasing a property with the intent to rent it out to tenants? There are many factors that contribute to potential success as a landlord. How do you know if a property would get a good return as a rental property?

Many neighborhoods in the greater Wilmington area are prime spots for profitable rental properties. Wilmington is a college town – many students and young professionals live here for a few years while they’re getting settled or figuring out their next move. As a result, Midtown and Historic Downtown Wilmington are ideal places for rental properties because UNCW is a short drive away. The other major rental market in Wilmington is our steady influx of summer visitors. As we at Network Real Estate can attest, short-term coastal rentals can be a great investment for homeowners, especially during peak summer months. Those with homes on Wrightsville Beach, Kure Beach or Carolina Beach can see impressive returns on their ROI if their property is managed well.

Putting the geographic factors aside, deciding whether to rent out a property has plenty to do with the space itself. Renting a house is a nice alternative for students, young professionals and small families who don’t want to live in gigantic apartment complexes but aren’t ready to purchase their first home. Beyond the price and number of bedrooms, there are a few other important factors that can make your rental property appeal to these tenants. Your rental will appeal to more tenants if:

  • The property has more than one bathroom.
  • Your property is accessible. For instance, if the property is a walkup or has very narrow corridors or stairways, it may ward off potential renters who think they won’t be able to easily move in or out. 
  • There is ample parking. A driveway is ideal, or at the very least parking that doesn’t require a permit.
  • It has a fenced-in yard. This is a major factor in rental appeal, and can set your property apart from other rentals in your neighborhood. Many tenants are willing to pay a little extra for a yard their dog could run around in.
  • Generally speaking, the property should be in good condition. While it’s true that renters may not be as discerning as buyers because they aren’t looking for a permanent home, don’t expect to get a big ROI on your fixer-upper. Invest in repairs and maintenance, and you (and your tenants) will be happy you did.
Network Real Estate provides full-scale rental management services in the greater Wilmington area. If you don’t want the hassle of being a full-time landlord, let us do the work for you! If your current home meets these standards and you’ve been considering renting it out, now is a great time to get started. Network Real Estate also has plenty of houses for purchase that would make excellent rental properties or a beautiful home for you and your family. Contact us to find out how we can help you invest in Wilmington real estate today.

Kevin McKoy is a GRI-certified, licensed real estate broker at Network Real Estate, which has exclusively served a high volume of property sales and purchases in the greater Wilmington area for over 30 years. With three offices at College Road, Historic Downtown and Pleasure Island, Network’s brokers are widespread and well-versed in this marketplace, making Network a preferred Real Estate company for first-home buyers and beyond.

20489 networkrealestate insightsad final
Ico insights

INSIGHTS

SPONSORS' CONTENT
Chadwoutersheadshot

Changes Coming to Sales Tax on Internet Sales

Chad Wouters - Earney & Company, LLP
Martyheadshot

Are You Ready for GDPR?

Marty Cayton - TeamLogic IT of Wilmington & Fayetteville
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Understanding the AI Ladder

Diane Durance - UNCW Center for Innovation and Entrepreneurship

Trending News

How 3 Guys And A Ga. Firm Helped Wilmington Avoid A Water Crisis

Cece Nunn - Sep 17, 2018

Open For Business: New Announcements (Sept. 18)

Staff Reports - Sep 18, 2018

Employers Work To Reopen Following Hurricane Florence

Christina Haley O'Neal - Sep 17, 2018

In Storm's Aftermath, Gas, Supplies Filter In

Cece Nunn - Sep 18, 2018

Downtown Recovery Ongoing, Flooding Still An Issue

Cece Nunn and Christina Haley O'Neal - Sep 19, 2018

In The Current Issue

Marpac Adds Tools For Better Sleep

Wilmington-based Marpac is crashing further into the sleep industry with a line of products to help people get shut eye....


State Releases Visitor Spending Data

Visitor spending increased in Pender County for 2017, with a growth rate that outpaced Brunswick and New Hanover counties, and even the stat...


MADE: Waking Up The Sleep Market

MADE: Marpac assembles the vast majority of its white noise machines in Wilmington....

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast - Dishing on the Restaurant Biz
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes