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Homes for Rent in Charleston SC | Why Home Inspections Matter to Rental Property Investors

8478 Athens

When you have homes for rent in Charleston SC you could be dealing with many different property types from historic colonial homes to brand-new construction in the subdivisions and surrounding areas. However, no matter what kind of property you have invested in, you will need to ensure you have enough cash or credit to provide quick fixes for needed home repairs. 

Big repairs such as leaking roofs, cracked foundations, mold outbreak, rotted floors, electrical issues or plumbing problems can really take a chunk out of your cash on hand and even displace tenants. When this happens, you might be responsible for paying for the tenant’s temporary living arrangements until the property is livable again. 

Avoiding Displaced Tenants

If investors have multiple homes for rent in Charleston SC it could be possible to transfer the tenants to a vacant home, although this is not always ideal for the tenant. Most tenants would rather be put up in a hotel for a few weeks while waiting for repairs to be complete. However, there is one way that investors can ward off these big repairs from happening. 

Annual home inspections. 

When home inspections are completed by professionals you can get advance warning on needed repairs before they become emergencies that will cost all your profits. Completing maintenance such as roof or HVAC maintenance is a wonderful way to prolong the life of your homes for rent in Charleston SC and stay within budget for property upkeep. 

The property managers should also ensure that maintenance requests are handled properly, and tenant inspections are being conducted to ensure that the home is being cared for in accordance with the lease terms. Property managers should conduct inspections every 6-months or during lease renewal time to check for lease violations, maintenance issues, and that the home is being kept in sanitary condition. 

One of the top ways to avoid displaced tenants is to partner with a property management company in Charleston to handle maintenance and other property needs. If you are in the market for property manager services, call Scott Properties of Charleston at 843-212-9672.

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Homes for Rent in Charleston SC | Charleston is The Best Market for Renters

Home for rent in Charleston SC are going faster than ever, and to high-quality tenants that will want to remain in the property long-term. For years, the Charleston rental market has received high rating and reviews due to the affordability of rental housing paired with an excellent quality of life. However, one of the biggest reasons that the rental market is booming is because of factors such as economic development and population growth that has left construction demand and availability of new homes at an imbalance.

Key Market Stats for Charleston:

In the last year, homes for rent in Charleston SC have increased in rent by 9 percent.
The average price of a rental home in Charleston is between $1,001 and $1,500 per month.
Lower rent ranges can be found in Four Mile Hibernian or the Rosemont neighborhoods.
Higher rent ranges can be found in Downtown Charleston, South of Broad, or the Harleston Village where rent averages closer to $3,000 per month.
Even though rent is going up in Charleston, renters are still hungry to rent vs buy due to rising home prices, availability of homes to buy, and other factors.

Why Renters Love Charleston

More people than ever are looking for homes for rent in Charleston SC because the quality of life is simply amazing. Not only is Charleston in the top 20 cities in the United States for job seekers, but it is also a millennial magnet due to the diversity, education system, family-living, nightlife, and quality homes. Charleston also has one of the best Metropolitan hospitals on the coast, and a plethora of historic and modern attractions that can be enjoyed all year around thanks to the subtropical climate.

Charleston is projected to continue with vibrant population growth and expansive economic opportunities for the next decade at minimum. This trend will keep home prices and resale values high and give rental property investors a chance to increase their profits while maintaining affordability for tenants. If you have considered making an investment, now is the time.

Call Scott Properties today to help with managing your homes for rent in Charleston SC, 843-212-9672.