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Many people believe that being a landlord is the easiest job in the world. They think all a landlord must do is sit back and collect the rent every month, but there is a lot more that goes into rental property investing. In addition to all the various tasks that must be done from painting to leasing and tenant maintenance issues, a landlord’s work is never done, and costs are constantly piling up. However, no matter how tempting it may be, there are many costs that accompany having one of the best Charleston property management companies in the area that you just cannot skip out on.

Some landlords like to skip out on essential services such as pest control, recycling, or landscaping because they think they can lower their costs this way. Charleston property management companies understand the value of implementing services that some landlords might consider a privilege to their tenant. Some of these services add value and life to the home such as:

• Roof inspections 

• HVAC inspections and maintenance 

• Providing and changing the air filter quarterly 

• Providing landscaping services

• Pest control and prevention 

• Tree trimming 

• Exterior power washing 

A home typically rents for 1% of the property value; however, when Charleston property management companies can offer services that other landlords do not want to offer, the rent can be a little higher which can offset the cost of providing those services. The higher rent is not the only benefit that comes with these services. These types of services increase the value and lifespan of the property so that the home does not depreciate. Many services are also needed to ensure warranties stay intact such as roof maintenance or HVAC maintenance. 

The hard part about providing services is being able to keep up on all of them during your already hectic workday. Let Charleston property management companies lighten this burden for you by taking care of all your property management needs. 

If you are ready to talk to a property manager and get the process started, contact Scott Properties of Charleston at 843-790-4929.

The best thing investors can do for their business is hire a Charleston property management team to run their rental business. Most investors understand the importance of using a property management, but they often struggle with knowing when the is the best time to hire a property manager. Should you hire after you have multiple properties? As soon as you sign the purchase agreement? After you are ready to rent the home? 

You are not the only investor asking themselves these questions. Charleston property management companies are a fantastic asset but partnering with a company is not free. Hiring a property manager too soon could end up costing more money than necessary; however, you can lose even more money when your properties are sitting empty and without prospects. 

When to Partner with Property Management Companies

The best time to partner with a Charleston property management team will be different depending on the services being offered. Some property management companies will help with setting your rental price, offering ideas on interior decorating, and getting properties ready to rent. Others will start their duties once the home is resident-ready and will market your home, complete the leasing process, and even manage a maintenance team. Some of the best property management companies in Charleston can even handle the eviction and legal process for you if the worst-case scenario ever happened.

Investors should start interviewing Charleston property management teams as soon as they decide they want to purchase a rental home. Many companies will talk with investors about capacity and needs before deciding to partner together. Knowing the options available before you purchase will help investors get their property manager started at the right time for their business needs without wasting money or waiting too long and having to scramble. 

It is never too late to take the burden of being a landlord off your shoulders and hire a professional property manager to start handling the landlord stuff while you let the cash flow in. 

If you are ready to talk to a property manager and get the process started, contact Scott Properties of Charleston at 843-790-4929.

Rental properties are in high demand and now is one of the best times to dive into becoming an investor and partnering with Charleston property management to earn residual income long into your retirement. Younger investors tend to buy homes to renovate and rent out; while retirees often decide to turn their family home into a rental property when they downsize. No matter what your situation is, there are some things you will need to do before you can start renting your properties to tenants. 

First Steps to Getting Property Ready to Rent

1. Register as a Landlord- Before you can rent out a property and begin working with Charleston property management, you will need to official register as a landlord with the city. The only thing needed to register as a landlord in Charleston is an application and w-9. 
2. Building Codes and Compliance- Rental properties are subject to inspections by city inspectors to ensure that the homes are up to code for safety compliance and minimum health standards. 
3. Resident Ready- If you are an investor who is purchasing homes to fix up and rent out, you will need to make renovations and updates to the home before it is resident ready. Even if you are renting out your family home as you downsize, updates to make the home more modern are a wonderful way to rent the home out fast. 
4. The Extra- Charleston property management is competitive and rental homes do not usually stay on the market long; however, you can increase your curb appeal and attract quality tenants by doing a little extra such as professional landscaping or new appliances before putting the home on the rental market. 
5. Property Management- Investors love working with Charleston property management teams because they can live their life without the hassle of being a landlord while still making a monthly profit. Working with a property manager is the best way to ensure your home is rented in a professional manner that keeps tenants under leases and profits coming in monthly. 

If you are on step five and ready to contact a property management company in Charleston that will work hard to have your home rented quickly with quality tenants, contact Scott Properties of Charleston at 843-790-4929. 

Property management services Charleston SC investors hire are expected to keep properties maintained and a rent check coming in every month. When properties are vacant because a tenant has moved out and no one else has leased, investors are losing money and profits. This is why keeping tenants in their homes if they are great tenants is very important. 

Unfortunately, resident retention is often overlooked by owners and landlords because of all the other duties that are attending to daily. However, when you can work with property management services Charleston SC has to offer, you can get lease renewals early and often, so you never have to worry about vacancies. 

Tips for Lease Renewals

One of the qualities of a good property manager is being able to communicate clearly and often so that there is no miscommunication with tenants and expectations are set early. Make sure the lease also outlines the renewal process. Best practice is to require tenants to renew their lease at least 30-60 days prior to the lease deadline. 

Some of the ways you can entice your tenants to renew their leases earlier include:

• Offering a service such as carpet cleaning or a fresh coat of paint in a common area of the home
• Offering a discount off the rent for the first month of the new lease
• Thank-you gifts for signing early such as gift cards to local restaurants or entertainment.

Not only will these tactics help to get your leases signed early, but they will also help keep your renters happy. When renters are happy with the property management services Charleston SC offers, they are more likely to pay rent on time, not violate the lease, and have good professional relationships with the management and maintenance crews. Residents who are happy with their space, the management, and know they will be living in the home long-term will also take better care of the property which results in less maintenance requests. 

Call Scott Properties in Charleston if you need professional property management services at 843-790-4929.

Towards the end of a tenant’s lease a property manager can start feeling anxious wondering if the tenant will renew or move out, the condition the home will be left in, how long it will take to find a new tenant. Property management services Charleston SC investors hire can overcome these feelings by having an organized, preplanned move out process. When property managers follow a move out process plan using the tips and tricks below, the process can be expedited which is best for everyone. 

Move Out Process Planning 

Property management services Charleston SC investors work with should always have a proper and planned move out process detailed in the lease. These tips and tricks will help make the moving out process and transitioning to a new tenant run smooth and efficient. 

1. Communicate early and often- Property managers should be talking to tenants at least 120 days before the end of the lease to determine eligibility for renewal and intent to renew. A strong lease will include a clause that tenants must sign a renewal at least 60 days before the end of their lease. 
2. Utilize tenant referrals- If a great tenant is moving out consider offering incentives for referring a qualified tenant that can move in within 30 days of the vacancy. If your tenant was great, the chances that their friends and family would also be great tenants is pretty good. This can also reduce the amount property management services Charleston SC companies have to spend on marketing efforts. 
3. Move-out prep- The more preparation a property manager puts into move out, the smoother it will go. Make sure to do an inspection 30 days before the lease ends so you can get an idea of possible damages that will need to be addressed. Before you allow the tenant to turn in their keys, schedule a move out inspection that will address any damages that will be held against the deposit, so your tenants know what to expect. Get their signatures on this inspection form. You should also schedule maintenance as soon as this inspection is completed. 

The move-out process does not have to be a headache or hassle for property managers or tenants. If you own a single-family investment property, consider utilizing property management services Charleston SC offers to make the most out of your investment. 

Call Scott Properties in Charleston if you need professional property management services at 843-790-4929.

One of the most difficult things about owning rental investment property is knowing which properties will be the best to sink money into. Trends are constantly changing and what tenants want can fluctuate quite a bit between demographics and markets. Charleston property management companies hear from potential renters every single day about what they are looking for in their next home, what’s missing from their current home, and what is driving the rental market in Charleston. 

If you are thinking about investing in single family rental homes, contact a property management company first who can help you learn more about the wants and needs or renters in your marketplace. However, we can give you some of the top desires of families and professionals! 

Most Attractive Qualities of Single Family Homes 

The most obvious reason that people seek out single family homes opposed to multi-unit buildings, townhomes, or condos is the addition of privacy. Families are especially appreciative of the privacy and extra space that a home typically affords compared to apartments. However, not all homes are built the same and there are several considerations that Charleston property management companies regularly hear about from tenants. 

• A fenced in backyard 
• A Porch or deck 
• Multiple bathrooms 
• Off-street parking 
• A garage (attached is most coveted)
• Professional landscaping 
• Off street parking 
• Large bedrooms 
• Large windows for natural lighting
• Walk in closets.
• Extra storage space 
• High-quality, modern appliances
• Updated fixtures, carpets, and painting

Many tenants also look for services that different Charleston property management companies will offer such as snow removal, lawncare, carpet cleaning, etc. Tenants want to be sure that they are getting the most possible for their rent, and the more perks you can add, the more value tenants will assign to your property. The easier seeing the value in a home becomes, the easier justifying the rental price or raising the rent to be more aligned with market pricing will be. 

If you’re interested in finding out how our property management companies can make the most out of your single family home investment, call Scott Properties at 843-790-4929.

Real estate investors constantly debate each other on whether multi-family apartment buildings or single-family home rentals are the best for business. However, if you are looking to make the most bang for your buck with as little headache as possible, single-family homes and Charleston property management companies are the way to go. 

Benefits of Investing in Single-Family Homes

Many investors think that multi-family housing is the best way to make the most money; however, just because you Charleston property management companies may be able to collect more rent checks when multi-family housing investments are in your portfolio, doesn’t mean investors will make the most profit. 

Overall, single-family homes are much less expensive to maintain than multi-family homes or buildings. The startup cost of multi-family homes is usually a much larger commitment. Multi-family homes are expensive and have a lot of land that comes with them while single-family homes are much easier to finance with a smaller down payment. 

Maintenance on single-family homes will also be less expensive than multi-family units for Charleston property management companies. You won’t have to keep common areas cleaned and maintained, tenants take better care of single-family homes, and the grounds maintenance is considerably less involved and sometimes nonexistent with single-family homes. Additionally, turnover is typically much lower in single-family homes compared to apartments, townhomes, or duplexes which saves a lot of money in the long run when it comes to marketing, turns, and leasing.

In addition to being less costly, single-family homes are easier to manage because there is only one person or family per home that you are trying to collect rent on and keep retained. This will reduce the time Charleston property management companies have to spend managing your home which increases profits for you! Property managers also field far less phone calls and have significantly less tasks to complete throughout the day when you have one family in one home as opposed to four or more families in one multi-unit building. 

If you’re interested in finding out how our property management companies can make the most out of your single family home investment, call Scott Properties at 843-790-4929.