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Month: <span>April 2020</span>
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Property Manager | How A Property Manager Can Use Social Media

Author: MediaBeast
Categories: Scott Properties
Joe Wiley Waterfront Park - Pineapple Fountain

In a world where social distancing is the new normal, a property manager needs to make the most of the virtual tools available to them to successfully market, lease, and manage a single-family home. One of the best online tools for marketing your available properties, as well as connecting with current tenants, and owners, is social media. Two platforms, LinkedIn and Facebook, are especially useful for property management businesses and are easy for a property manager to use.

LinkedIn-The social platform for business professionals, LinkedIn, is an excellent tool for networking with investors and homeowners. Setting up a profile for your property management business is easy, and you can optimize your page to be found by people looking for property managers in your area. LinkedIn is an excellent way for you to set your business apart from others and build your brand. You can also create content for your profile that is useful and share resources to establish your knowledge and expertise in the rental business.

Facebook-Almost every adult has a Facebook page, and it’s the most popular social networking site in the world. Facebook gives you the option to have a personal profile but also a property manager’s business page. The Facebook Messenger app, which also connects to phone numbers for texting, is a great channel to communicate with tenants, prospects, and owners. Posting pictures of properties available, sharing news and information about the local neighborhoods, setting up online events to remind residents of any special dates coming up such as lease renewals, and creating groups for tenants or owners only are all fantastic ways of utilizing Facebook to grow your business. You can even post videos or go live with tours of properties without the potential renter being present, which is great during times where social distancing is mandated.

Social media is one of the best online tools for property management, and each manager should be using Facebook and LinkedIn to promote their business. These platforms are the easiest ways to reach everyone you need to contact including vendors and owners.

Are you an owner looking for a property manager who understands how to run their business online? Call Scott Properties of Charleston at 843-202-4274.

 

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Rental Property Management Charleston | Should Landlords Allow Subletting?

Author: MediaBeast
Categories: Scott Properties
Rental Property Management Charleston

One of the situations that every kind of rental property management Charleston offers will face eventually is whether or not to allow their tenants to sublet their homes. Subletting is a situation in which the leaser is not able to fulfill the terms of the lease and needs to move out early. Rather than breaking the lease, subletting allows the tenant to find someone else to take over the remainder of the lease to avoid penalties.

Rental property management Charleston-based owners know that the job market can fluctuate, and sometimes families may need to move earlier than expected. Sometimes when people get married, they will want to move before the end of their lease. You might also have tenants who lose their jobs and can no longer afford the home, or they simply just want to live somewhere else. Having terms in your lease regarding subletting is important for metropolitan areas, especially. Here’s what a property manager or landlord needs to know before deciding if they will allow subletting:

Pros of Subletting

One of the most significant advantages to rental property management Charleston allows subletting is monetary. If you don’t allow subletting and the tenant leaves anyway, your company might end up having to track down and then fight that tenant in court for rent owed and legal fees. When you allow subletting, you’re more likely to have the rent keep coming in.

Another great reason to allow subletting is that your vacancy rates will improve. Subletters are likely to sign a lease renewal in their name when the lease they are finishing is up. You won’t have to worry about transitioning the home between tenants either or do move out inspections.

If your rental property management Charleston company decides to allow subletting, make sure to screen subletters the same way you qualify tenants and quire property manager approval before the lease is signed or someone new moves in.

Cons of Subletting

The only con to subletting, if you screen subletters like you do tenants, is that two people are on the hook for the lease. While this may seem beneficial—the original leaser is responsible for paying if the subletter fails to pay; it also means that your rental property management Charleston company will have to evict two people.

If subletting and tenants aren’t something you want to deal with as an owner, contact Scott Properties of Charleston to hire a property manager who can handle any tenant situation. Our number is 843-790-0148.

 

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Property Manager | How to Transition A Home Between Tenants

Author: MediaBeast
Categories: Scott Properties
Property Management

The nature of the single-family rental business is that it is temporary, with doors always revolving. Most families don’t rent the same home for decades. The average resident of a single-family rental home only rents for three years before moving on to something or somewhere else. Stays of up to six years are also frequent; however, chances are, a property manager will rent out the same home multiple times during their career. Transitioning a home between tenants is a big, but necessary job, and there are a few steps you can take to make the transition go smoothly.

  1. Notice of Move Out- Most leases require a tenant to notify the property manager 60-90 days before the lease is up that they want to vacate the home and not renew their lease. Tenants should always be required to submit their notice in writing.
  2. Move Out Inspection- Make an appointment for a moveout inspection and turnover of the keys with your tenants. Move Out Inspections will be a determining factor in how much of the deposit the tenants will get back. Make sure the tenant understands any damages or fees they are responsible for paying as a result of the inspection. If the tenant being present is not possible, the property manager should ensure that the inspection is well documented with details and photos.
  3. Complete Maintenance- Some of the maintenance that typically needs to be completed in between tenants includes painting, repairs of appliances, changing the locks, replacing batteries in smoke detectors and carbon monoxide monitors, carpet shampooing, and professional cleaning. When the new tenants move in, they will expect to be walking into a move-in-ready home that is clean with everything in good working order. Make sure to take pictures for the home file, so there is documentation of what the house looked like at the move-in time.

Once maintenance is completed on the home, a property manager is free to start showing the house. Marketing and scheduling showings can be done while the property is being renovated; however, the real fun begins when the home is brand-new looking and ready to go on the rental market officially.

If you’re looking for a property manager that can easily transition your property between tenants, call Scott Properties at 843-790-0148.

 

 

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Charleston Property Management | Running a Rental Business During COVID-19

Author: MediaBeast
Categories: Scott Properties
Property management in charleston

One of the best things about being part of a Charleston property management team is showing homes and meeting new people. Seeing the delight and excitement on a family’s face when they find their dream home to rent is one of the best reasons to become a property manager. However, with stay-at-home orders in effect and people needing to social distance for their health and safety, the job is changing. Today Charleston property management companies need to take their businesses virtual, and we’re here to give you some tips and tricks to do so.

Online Portals-Use online portal for mass communications with your tenants, online rent payments, the ability to submit maintenance requests, and even have conversations with tenants and share documents such as lease renewals! You don’t need tenants to come into the office to sign a new lease document; they can sign and upload it through tenant portals. Charleston property management companies can use online portals to ensure proper social distancing and provide updates quickly to help tenants navigate the uncertain times. You can also have portals accessible to owners only, which will help streamline all your processes, even when COVID-19 is no longer a worry.

Text Messaging-Tenants, property managers, vendors, and owners can all communicate through text messaging and encourages social distancing as well. Giving your tenants fast ways of reaching you will stop them from coming to the office for non-emergency issues. There are text messaging apps available so that you can send out messages to many groups at once and never have to share your personal cell information.

Running a rental business during COVID-19 is a new territory for veteran and new Charleston property management companies and managers. Still, there are many ways to modernize your business and be successful in using online tools.

If you’re an owner interested in working with a modern, Charleston property management company, call Scott Properties at 843-790-4929.

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Charleston Property Management | Corona Virus and Single Family Rentals

Author: MediaBeast
Categories: charleston property management,Scott Properties
Charleston International Airport - Columbia

Charleston Property Management companies are currently dealing with a problem they’ve never had before—most of their tenants might be struggling to pay rent for April, May, and maybe even June. Most property managers and landlords than ever before are going to be faced with tenants calling and emailing about rent arrangements. However, owners still have mortgages and property taxes to be paid, and letting all of their tenants slide on the rent, may not be in their best interest. Luckily, the federal government has come up with the CARES Act to provide relief to those impacted by COVID-19. Charleston property management companies should be aware of this act and help tenants understand the resources they have available to assist in paying rent.

CARES Act

The CARES Act, Coronavirus Aid, Relief and Economic Security Act, was recently passed and gives everyone who files for unemployment due to COVID-19 will receive an additional $600 per week in benefits beyond what they would usually receive. Even freelancers and independent contractors who would typically not qualify for unemployment benefits will be able to file for the first time.

Stimulus checks are also being sent to millions of Americans, starting at $1,200 per adult and $500 per child. These payments will vary depending on income level; however, Americans affected by the Coronavirus are going to be given generous aid by the government, beyond what they would get under normal circumstances of being laid off. Some people will be earning more on unemployment and collecting the stimulus and CARES Act benefits than they would by working under normal conditions.

Also, there may be many different local programs available for people to help delay utility payments and other bills. If a Charleston Property Management company encounters many of their single-family home renters having trouble paying the rent, they should remind the renter of the resources and stimulus available and do their best to make mutually beneficial arrangements.

If you’re looking for a Charleston Property Management Company to help guide you through renting your property during the pandemic, call Scott Properties at 843-790-4929.