What we've learned managing rentals in the Kanawha Valley.
It seems extremely simple, but renting a property isn't exactly easy. In our first few years of managing properties in Charleston, we ran into an anomaly. Charleston is a stunning place — moderate climate, four real seasons, great cost of living, and one of the most beautiful states in the country. As our rental properties hit the market, we noticed some trends.
1. People don't like to move in the summer or the winter.
Our theory: in summer, people want familiarity. They either move to a region in the spring to experience their first summer, or they move for the school year in the fall. Our data has consistently shown people move in spring and fall. WVU football starting in the fall is almost certainly part of it.
2. Out-of-state people are moving in.
We've heard countless reasons — from affordability to the relaxed pace of life — for people choosing West Virginia. Opportunities are abundant, and people are taking advantage of the work environment to do what they've always wanted to do. For context on why so many out-of-state investors are following the same path, see investing in West Virginia real estate.
3. Tenants appreciate great communication.
It seems like an obvious observation, but tenants have told us repeatedly that they appreciate knowing what's going on. Even if a work order is in process, letting tenants know we're working on it and don't yet have a solution is helpful. This aligns with what we wrote in resolving tenant disputes without legal action — silence almost always escalates conflict.
The Kanawha Valley remains one of our favorite places to invest.
Charleston, West Virginia is an unbelievable place to purchase rental properties. The Kanawha Valley is an amazing investment from cash-on-cash return to helping good people find quality homes.
