Every year people move to the Asheville area by the tens of thousands. Asheville, NC, is a popular destination for new residents due to several factors:

• Scenic Beauty: The city is renowned for its breathtaking mountain landscapes, making it a favorite among nature lovers.
• Cultural Offerings: Asheville has a vibrant arts community featuring numerous galleries, theaters, and street performances in its downtown area.
• Culinary and Brewing Scene: Asheville boasts a growing food culture and is widely recognized for its numerous craft beer breweries.
• Robust Economy: The city’s economy is expanding, with a diverse mix of technology, healthcare, and tourism industries.
• High Quality of Life: Asheville consistently ranks high as a place to live, offering a low cost of living, welcoming communities, and a comfortable climate.
• Accessibility: Asheville is within a reasonable driving distance from several major cities, including Charlotte, Atlanta, and Greenville.

Asheville’s growth and popularity have increased the need for living space, making rental property ownership a potentially lucrative option for those looking to diversify their portfolio. A growing population and robust local economy have resulted in a constant influx of renters searching for reasonably priced, well-maintained residences. 

However, to get the most out of your investment, you still want to ensure you are taking steps to improve your ROI. 

How to Improve Your Rental Property’s ROI in Asheville

Return on investment (ROI) can be improved in rental properties in several ways:

1. Increasing the rent regularly by market trends can increase the return on investment of a rental property.
2. Updating a rental property’s appliances, fixtures, and finishes can increase its value and appeal to tenants, increasing rental income and return on investment.
3. Reducing operating costs, such as property management fees, maintenance, and utility bills, can increase a rental property’s net income and return on investment.
4. Maximize rental income and return on investment by keeping the property occupied with responsible tenants.
5. Diversify your portfolio by purchasing multiple rental properties to lower your risk and increase your return on investment.
6. Tax deductions and credits can reduce taxable income and improve return on investment. These credits and deductions include depreciation, mortgage interest, property taxes, and maintenance costs.
7. To improve productivity, cut costs, and increase return on investment, install smart home technology like keyless entry systems, energy-efficient appliances, and remote property management tools.

Use a Property Management Company to Improve ROI

Property management companies help you improve ROI by:

• A reliable property management firm can help you fill your units faster with high-quality renters. 
• A property management company can handle the accounting and rent collection for the landlord, freeing them up to focus on other matters.
• When it comes to repairs and maintenance, property management companies have the manpower and tools to handle these tasks regularly, which saves money and time for landlords and tenants alike.
• Property management firms keep up with ever-changing local, state, and federal rental laws and regulations, protecting property owners from potential fines and lawsuits.
• Property management firms can improve occupancy rates by keeping rental properties in good shape, advertising them extensively, and setting reasonable rents, all of which boost a building’s return on investment.

How Residential Management Services Helps Maximize Rental Property ROI in Asheville, NC

Residential Management Services Property Management offers top-of-the-line property management services in Asheville and western North Carolina. You will receive monthly reports on all aspects of your investment to show how your rental is performing. 

Our trusted vendor list of professionals, including maintenance, HVAC, plumbers, roofing, lawn care, electricians, and cleaners, make sure the home is maintained and beautiful for you and your guests.

If you want to know more about how a trusted property manager can help improve your rental property’s ROI, reach out to our team today!