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Month: <span>April 2021</span>
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Charleston Property Management Companies | Why Charleston is Where You Need to Invest

Author: Scott Wallace
Categories: Charleston Property Management Companies
Charleston Property Management Companies

It is a seller’s market in many cities around the United States and in Charleston the real estate market reflects the same! Houses are going on the market and right back off seemingly overnight with investors sweeping in to turn single-family homes and duplexes into investment rental properties. In fact, the Charleston housing market is expecting to be booming for the next ten years and be in the top ten cities in the country for 2021. This trend is making Charleston property management companies busier than ever with investors needing professional rental management after the close of the sale.

What Does a Seller’s Market Mean for Investors?

For investors, this means they may have to pay more for a property than they normally would because, in a seller’s market, it is the person selling the property that has the most power. Homeowners are getting multiple offers on their properties due to a shortage of homes being sold. However, COVID 19 has caused many people who once owned a home to need a rental property instead which is great for investors. This situation means that market rental rates will increase and offset the increased price you might have to pay for an investment property.

Link With Charleston Property Management Companies

If you are an investor and hearing that you will have to pay more for a property is making you nervous, hear us out. Charleston property management companies are thriving and successful in Charleston because the population boom happening in Charleston is creating a thriving tech industry with high-paying jobs and lots of entrepreneurs and venture capitalists setting down roots along the coast. These renters can afford to pay more for rent and will gladly pay premium prices to be near the ocean and their office. Charleston property management companies can also verify that the median household income of a Charleston family has increased by more than six percent and the GDP has increased by almost 75%. Now is the perfect time to get into Charleston rental property investing.

If you are looking for someone to help manage your rental properties in Charleston, call us today at Scott Properties, 843-790-4929.

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Property Management in Charleston | What Should be Included in a Tenant Welcome Letter

Author: Scott Wallace
Categories: Property Management
Property Management in Charleston

Providing great customer service is what will take property management in Charleston to the next level and help retain tenants longer. There is a lot of advice out there for property managers about how to provide the best service for tenants; however, one thing that is often missed is a tenant welcome letter. These letters should always be friendly, but also set expectations and provide vital information about the community and where to find other information.

If you’re in property management in Charleston, make sure these items are included in your tenant welcome letters:

  • Start the letter off positive, friendly, and welcoming.
  • Reinforce guidelines in the lease that keep the property safe such as policies regarding pets, smoking, renter’s insurance, utilities, smoke detectors, and pest control.
  • Information about the community such as school districts, non-emergency lines for the police and fire departments, closet hospital, grocery stores, and gas stations, special events in the community, and other amenities.
  • How to make maintenance requests
  • How to pay rent
  • How to set up an online tenant account if applicable
  • A change of address form for the post office
  • What maintenance requests constitutes an emergency
  • What to do and who to contact in case of an emergency

Companies offering property management in Charleston, and individual property managers need to have great relationships with tenants in order to increase resident retention. The longer you can keep great tenants happy and, in their homes, the better it is for creating a consistent cash flow for owners. Adding a personal touch such as a tenant welcome letter is a great way to keep channels of communication open and let tenants know you are glad to have them renting from you.  Some property management companies choose to offer their tenants welcome gifts such as plants or a fruit basket to welcome them into their new home as well.

If you need a property manager, call Scott Properties at Scott Properties of Charleston at 843-779-6527.

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Property Management Services in Charleston | Common Lease Loopholes

Author: Scott Wallace
Categories: Property Management Services in Charleston
Property Management Services in Charleston

No matter how secure a landlord thinks the lease may be, there are tenants who will do whatever they can to get out of their leases, including finding loopholes. Sometimes, even leases written by lawyers can be broken because of local laws and city ordinances that do not favor property management services in Charleston. One of the best ways a property manager can get ahead of tenants that try to break their leases is to be aware of the common loopholes they will try to use.

Property is Uninhabitable- Owners are required to perform maintenance on rental homes that keep the home structurally sound and safe. If there is black mold, no running water or waste disposal, lead paint, asbestos, or other hazards, a tenant may be able to break their lease without consequence.

Accuse the Landlord of Violating the Lease- Tenants will often try to break their lease by claiming those performing property management services in Charleston did something to violate the lease agreement. Some of the common accusations they will make include the property manager or maintenance crew entering their home illegally.

Infestations- Mice, termites, spiders, and other pests can often cause big problems for renters and property management services in Charleston. Preventative pest control is the best option to ensure there are no infestations at your rental properties, but if it does happen, tenants will often use it as an excuse to break their lease and move out early or stop paying rent.

Property management services in Charleston should always document every interaction they have with tenants to best protect themselves. The more evidence and documentation property managers have to back up their case and hold tenants to their contractual obligations.

If you need Property Management Services in Charleston, call Scott Properties at Scott Properties of Charleston at 843-779-6527.

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Property Management in Charleston | How to Make Moveouts Go Smoother

Author: Scott Wallace
Categories: charleston property management,Property Management,Scott Properties
Property Management in Charleston

One of the most strenuous things employees of property management in Charleston have to deal with is the tenant moveout process. There is always a sense of anxiety and dread when it comes to the final moveout inspection. Property managers never know what to expect when they open the door of a home after a tenant has turned in the keys once and for all. Property managers walk into a lot of different situations after a tenant moves out—homes that are trashed, pets left behind, food left in the fridge or cabinets, overgrown yards, and other disasters. Luckily there are a few ways to make moveouts go much smoother and reduce risk to the owner.

Tips to Make Moveouts Go Smoother

  1. Inspections- Property management in Charleston has a duty to keep the properties of their owners safe, occupied, and well-managed and part of doing this is performing rental property inspections. Walk-throughs should be completed before tenants move their belongings in (when the lease is signed usually), at the six-month or halfway point of the lease, and again before the keys are turned in. Tenants and property managers can sign these inspection forms accepting responsibility to conditions.
  2. Moveout Folder- 30 days before a tenant moves out a property manager can provide them with a moveout folder with checklists for moving out and cleaning, forwarding their mail, and how to schedule their moveout inspection. Tenants often appreciate knowing exactly what they are expected to do for moveout and even if the lease states these provisions already, a moveout folder with checklists will reinforce the expectations.
  3. Hand Deliver Notices or Send Certified Mail- One of the golden rules of property management in Charleston is always to verify the tenant received any communications sent. One of the best ways to do this is to hand-deliver notices or send certified mail. Taping notices to doors is not reliable.

Sometimes, no matter how much a property manager prepares for tenant moveouts, the tenant will still leave the home in a bad condition or not perform the cleaning tasks. This is where property managers on your team can be a lifesaver. Property management companies have connections with vendors that can come in and get the cleanouts done quickly!

If you need a property manager, call Scott Properties at Scott Properties of Charleston at 843-779-6527.

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Property Management Services in Charleston | What Do Property Management Services Do?

Author: Scott Wallace
Categories: Property Management Services in Charleston

Investors in rental property know they cannot manage all the ins and outs of being a landlord on their own, especially when they have multiple properties in their portfolios. In fact, most investors already have property management services in Charleston in mind before they purchase their first rental home. Investors must be diligent in knowing exactly what they are signing up for when it comes to property management services in Charleston however because not all companies offer the same thing.

Some of the services you can expect with Property Management Services in Charleston include:

  • Determining the rent value of the property
  • Documentation of the interior and exterior of the property
  • Creating leases
  • Preparing the home for rent by cleaning and increasing curb appeal
  • Marketing the rental and creating ads across various digital platforms
  • Showing the rental to potential buyers
  • Conducting tenant screenings including credit and background checks
  • Leasing
  • Rental collection
  • Property maintenance
  • Inspections
  • Evictions
  • Representing investor/owner in court
  • Advise in legal disputes and litigation
  • Accounting services
  • Vendor services and payments
  • Tax advisement
  • Cash flow statements

This list is not exhaustive of what you might be looking for in property management services in Charleston and not all companies will provide each service listed above. When there are specifics needs you are looking to have met by property management services, make sure you ask about them before signing a contract.

Property management services in Charleston are the best way to ensure your focus can stay on your investing business while a team of professionals can take care of all day-to-day responsibilities of being a landlord or property manager. We’ll answer every call, respond to each inquiry, and ensure your property is well maintained and rented to highly qualified renters that have been thoroughly vetted through the application process.

If you are ready to start working with professional Property Management Services in Charleston, call Scott Properties of Charleston at 843-779-6527.