Blog

Rental Property Management Charleston | One of the most important traits a property manager must have is knowing the right leasing terminology so that rental prospects trust that the property manager knows what they are talking about. If a renter asks the property manager what a term in the lease means, the property manager needs to be able to explain the term clearly. Here are a few terms we think you should know that you might not already.

Fixed Term Lease- A fixed-term lease is for a specified period. These leases are usually for 6, 12, or 18 months, but some leases could be longer. Most will end on a specified date and have the option of becoming a month-to-month lease, or you’ll be offered a chance to renew your lease or vacate.

Grace Period- Some leases will include a grace period stipulated in the lease for paying rent late without penalty, or for other things such as being able to back out of your lease after you sign one.

Guarantor- A guarantor is also called a co-signor and is a person who guarantees that if the renter is unable to pay their rent, the co-signor will be responsible for paying. A guarantor is usually needed when the applicant cannot meet the rental criteria on their own.

Periodic Term Lease- This type of lease automatically renews at the end of the term for the same amount of time as the original lease. If the lessor or lessee wishes to break the lease or not renew, they will have to provide notice before the lease is up. The lease will specify exactly how far in advance both parties will need to give notice.

Sublease- The property manager may allow a property to be sublet under certain conditions. A sublet is when the lessee has to vacate the property before the end of their lease term, but someone else is available to take over the remainder of the lease. If the person subleasing the home does not pay rent, the original renter is often responsible.

If you’re ready to hire a property manager that understand a lease like the back of their hand, call Scott Properties

Property Manager | If you have decided to turn your home into a rental property, you should immediately consider hiring a property manager. There are a lot of headaches that come along with managing a rental home and a property manager can take all these burdens off your shoulders. However, there are a few common myths you may have heard about property managers that we urge you to dismiss completely!

1. A Property Manager Will Cost Too Much
You decided to rent your home to make money not spend money, right? When property owners try to manage their own properties, especially at a distance, they incur a lot of costs such as failed marketing attempts, discounting rent to fill vacancies quickly, and sometimes even being taken advantage of by residence maintenance issues because you are not there to see the issue for yourself. A property manager will increase your net income in almost every instance.

2. I Won’t Have Any Control Over My Property
Letting someone else manage something that is as large of an investment as property is a big decision to make. Many property owners worry that they will no longer have control over who lives in their rental homes or what happens to them. When you hire a property manager, the specifics of how you want the job done and the property management company policies will all be included in a contract. Let a property manager handle the day to day business of managing your property and serve as a liaison when needed.

3. I Won’t Know the People Living in My Home
One of the aspects of rental property that most home owners have a hard time letting go of is choosing who they lease to. When you use a property manager, you can be sure that your tenants will be leased to based on fair housing laws and ADA regulations. A property manager will be up to date on all current landlord tenant law and ordinances in your area and can also perform background checks on potential leases depending on their company software.

Hiring a property manager will make your life much easier and increase your net income. Make sure to contact Scott Properties for rental home management in South Carolina.

Charleston Property Management | The under 35 population is renting rather than buying homes, which are great news for Charleston property management companies because single-family home rentals are more popular than ever before. If you’ve been wondering about the best neighborhoods to start your rental property business, just check out the hippest neighborhoods in Charleston to see where you should buy a property.

Harleston Village- College students, recent graduates, and academic types love living in Harleston Village because of it’s proximity to the College of Charleston. Harleston is also pretty swanky and affluent with large houses, streets lined with mossy oak trees, and antebellum architecture.

Wagener Terrace- Located on the downtown peninsula, Wagener Terrace has a hip, cool vibe with many local bars, gastro pubs, restaurants, and many amazing parks. Bill Murray even owns a restaurant in this part of town which he sometimes hangs out at. If you want to rent a house in a neighborhood with all the best food, Charleston property management can help you find the perfect property in Wagener Terrace.

Avondale- On the west side of the downtown peninsula in the West Ashley region of Charleston is a cool neighborhood known for its trendy bars and restaurants. Avondale is full of young professionals and small families, artists, boutique stores, and the West Ashley Bikeway—an almost 8-mile stretch that residents can walk, run, or bike on through downtown and the other neighborhoods in Charleston.

Mount Pleasant- This coastal neighborhood is nearby downtown and the beaches and is known for its excellent public school system and family-friendly environment. Many of the people who live in Mount Pleasant have lived there for generations and is a conservative neighborhood.

The Islands- One of the most popular places to live in Charleston are the islands. The neighborhoods on the island are pricey but elegant and the only oceanfront public schools in the continental US are in Sullivan’s Island.

If you’ve recently bought property in one of these neighborhoods and need Charleston property management to help you rent your home, call Scott Properties

Rental Property Management Charleston | If you’ve been looking to invest in rental property on the coast but aren’t sure where the best place to buy your property is, look no further than Charleston, South Carolina. More than 700,000 people live in the thriving Charleston Metropolitan Area and the housing market has been competitive and looks to stay that way into the future. Now is the best time to buy an investment property and let rental property management in Charleston help you rake in the extra income every month. Check out these reasons to invest in Charleston.

1. Property Values- When you purchase an investment property you want the home to increase in value and rental property management in Charleston companies are seeing an increase of 8.4% in some home values just in the last year. The average price of a home in Charleston is around $299,000 while is an almost $50,000 increase from the average home price in 2015 according to Zilllow estimates. Real estate values have also appreciated nearly 32% in the last ten years, and appreciation is higher in Charleston than 70% of other cities in the United States.
3. Rent Values- People will pay a pretty penny for homes in Charleston because of it’s prime and historic location. In 2018, the median rent in North Charleston for a single-family home was $1,850. The Charleston Metro area had an average rental rate of $1,650.
5. Rent Market- Roughly 49% of adults in Charleston are renters, and the median age of a citizen in Charleston is 36. This is advantageous for property management in Charleston because most of the people in this age demographic will be small families looking for detached homes with three to four bedrooms. These families are likely to want to rent, especially when the median income in Charleston makes buying a home unaffordable for some families.

Now is the time to dive into a rental property in Charleston and a property management in Charleston company like Scott Properties can help your investments earn you the extra income you’ve been looking for. Contact Scott Properties

One goal every property management company has is to have a 0% vacancy. This goal is impossible to achieve because most rental homes need at least a few days to clean and prepare for the next tenant. Keeping homes filled with renters is the only way for property management companies to make their homeowner clients happy. A property management company that cant keep rental homes rented will not be in business long, so they have developed many tips for marketing rental homes and filling them up fast.

1. Use Social Media-Just like any business, you should have social media accounts for your rental home, especially if you have more than one. Even if you choose not to establish a page for your business, using your personal accounts to create ads for your rental home and boost information to people in your neighborhood is the best marketing strategy for nearly all businesses.
3. Know Your Target Market-Property management companies can track trends in rental history not only for your home but others similar on the market. You will need to complete research to know who is looking for rental homes in your area. This is called the marketplace demographics. You should know exactly who it is your property is best suited for–families, single adults, senior citizens, college students, etc.
5. Create a 3D Tour-With today’s digital technology, potential renters will spend more time on your website checking out your rental properties if you have 3D model tours of your rental homes. When renters are able to see a 360-degree view of a room online, they are going to be more excited about touring the home as soon as possible to secure a lease.

Social media, targeting the right market, and creating a 3D tour of your property are the best ways recommended by property management companies to market your rental home.

Rental Property Management Charleston |You’ve come to a point in your life where you need a house. Maybe you’re moving to a new town and feel ready for an upgrade, or your family is growing, and you need extra space. Whatever your reason for wanting to live in a house, you are going to have a big decision to make—should you rent or buy your home? There are advantages to both options, but you may be surprised at how easy renting a house is when you have a property manager.

Pros and Cons of Buying Vs. Renting 

Many people want to purchase a home because they are paying money towards an investment that belongs to them, unlike when you’re paying rent. Owning a home also means you only have to abide by your own rules (and those of your homeowner’s association if you have one). Owning your property means you can paint the walls any color you want, knock down a wall if you want more space, add on a deck without asking for permission, and whatever else your heart fancies.

Buying a home can be expensive though. Not only do you need to have excellent credit, but you must also have a substantial down payment and money saved up for closing costs, inspections, and other fees. You’ll also need to have plenty of money saved up for other expenses that homes incur such as significant home maintenance. When you choose to rent through a property manager, all you’ll need is a deposit and rent payment up front which is usually thousands of dollars cheaper than closing costs and inspections.

Even if the money is no issue, owning a home can still be difficult when you are responsible for everything that happens, or any maintenance needed. When you rent your home, a property manager takes care of all those headaches for you. You also have the luxury of being able to move when your lease is up when you are renting whereas when you own a home, most people need to sell first which can take months and even years. The property manager of your home is the only one that needs to be worried about that home when you want to move on.

Choose a property manager from Scott Propertiesto help you find the perfect home for rent in Charleston.

Property Manager | Charleston, South Carolina is one of the most iconic cities in the United States. The city is a blend of southern charm and coastal elegance which creates an atmosphere that no other cities can match. During the summertime Charleston buzzes with excitement and welcomes tourists from all over the world which can sometimes make finding a suitable home rental difficult, especially if you want to live near the beach. This is why renting with a property manager is always a great idea in Charleston. Follow our other tips and tricks for moving to Charleston in the summer to be prepared for your big move.

1. Plan Ahead-Summer is the busiest time for moving anywhere, but especially in Charleston where people often rent a house for months or half the year at a time. There are a lot of summer houses available in Charleston but finding the perfect home for long term rental can sometimes be challenging. As soon as you know you are moving to Charleston, you should start looking for a reliable property manager who can help you secure a rental ahead of time.

2. Research the Area-When you are looking for homes for rent in Charleston you need to research the area where the homes you are interested are located. Because Charleston is a prime tourism spot, there are a lot of houses that are offered as short-term rentals through sites like Air B n B. If you prefer to live somewhere you won’t have revolving neighbors, make sure your property manager knows you want to live in a residential neighborhood with established homeowners.

3. Avoid Moving During Peak Times-Labor Day Weekend, Fourth of July Weekend, and Memorial Day weekend is the most popular time to move during the summer because most people have a three-day weekend and are off work. The first and last weekends of the month are also busy as this is when leases typically end. Moving during the week can get you discounts on moving trucks and movers sometimes too!

If you are ready to start working with a property manager to find your dream home in Charleston, contact Scott Properties today!

Charleston Property Management | Your days of spending summers on the beaches of Charleston are long gone, and you’re in a position to decide what you should do with your summer beach house. You could sell it and make a decent amount of money, but you’ve also thought of holding onto the property and renting it as a single-family home to make some residual income in retirement. Charleston property management can help make this decision super easy for you.

Benefits of Having Charleston Property Management

You’ve probably already considered how the extra income from rent and the tax credits can help your nest egg for retirement, but you’ve probably also realized the disadvantages of becoming a landlord. You don’t really want to have to book appointments all day to show the house, especially if you aren’t living in South Carolina anymore. You also don’t want to have to be at your tenant’s beck and call when they have a maintenance emergency. Collecting on late rent is also a huge hassle, and you might be thinking the few extra thousand a few may not be worth it. Charleston property management can change your mind.

When you choose Charleston property management to manage your rental home, you don’t have to worry about the tedious day-to-day tasks associated with being a landlord. At Scott properties, our property managers have the know how to market your property quickly and effectively to ensure you have the best tenants for your property.

Using Charleston property management companies are super easy because all you have to do as a homeowner is pay one monthly fee and we will take care of all your tenant and property needs. You don’t have to worry about any of the little stuff, and if something big needs your attention, you can rest assured that your Charleston property management team is ready to support you.

Contact us today at Scott Properties to discuss how we can help you make income off your beach house!

Charleston Property Management | Your tenant has moved out, and you’ve done the major work of repairing any damages left behind, repainting, and cleaning so that the home looks new again, but you may still have trouble renting it if all your prospective tenants see new carpet and freshly painted walls when you’re between renters and taking applications for your rental home use these tips from the best Charleston property management companies on how to make your home wow your tenants.

1. Stage Furniture-One of the best ways to make a house feel like a home is to stage furniture. Outfit at least one of the bedrooms with a bed, dresser, and end table. Put a sofa and coffee table in the living room and set up dining set in the dining room. Give your guests a visual so that they can easily imagine what their furniture would look like in the space. Charleston property management companies even suggest staging photographs of landscapes or animals, adding decorative pillows, having vases with flowers, and other small touches to make tenants feel welcome.
2. Make it Smell Good-No one wants to live in a home that stinks. Use air fresheners or diffuse oils or incense that smells calming and comforting such as cotton, fresh air, lavender, chamomile, or light citrus to help bring a little excitement. Baking smells are also a great scent to use when showing a home.
3. Dust Before You Show-Even if the cleaning crew had done a detailed clean already, the day or morning before showing the home you should go back through and dust, wipe down mirrors and check for fingerprints on the appliances. You want your prospective tenants to feel like they are the first ones living in their dream home.

One of the best tips for renting between tenants is to hire a Charleston property management company to manage your rental home and ensure that you have quality tenants who rent for the long term and love your home as much as you do. Give Scott Properties a call when you are ready to work with the best property managers in South Carolina.

As a property manager, one application process you are in charge of is checking references for previous landlords. Checking these references is one task you never want to skip because references tell you vital information about your prospective tenant that may not show up on the background or credit check. If previous landlords didn’t report to the credit bureau or sue the tenant, you might not ever know if they paid rent on time or if they damaged the property. Many tenants who have had problems with landlords or a property manager in the past will ask their friends or family to provide false references, pretending to be a previous landlord. You can easily spot these fakers by following these tips:

1. Don’t tell them who you are. If you call asking for Joe Smith and they ask who you are, don’t say that you’re a property manager calling about a reference. You want to catch the imposter off guard by pretending to be a renter yourself. Inquire about available homes for rent, and if the landlord begins to humble over their words or suddenly hangs up, you know you’ve got a false reference.

2. When you ask questions about the tenant, the landlord should be able to give you details about that person including how long they lived at the address provided if they paid on time, and other details. If the “landlord” is vague or tells you, they can’t remember, these can be red flags for false references.

3. Search for the “landlord” online. If this person is a legitimate landlord, you should be able to find their name and phone number linked to rental properties or a property management company. You can also search the name on social media and see if they seem to be linked to the tenant such as being Facebook friends or listing each other as family. These are huge red flags for false references.

Taking the time to go through dozens of references every time you have a new property for rent can be tedious and exhausting. Consider hiring a property manager from Scott Properties to help you manage your rental home efficiently and with great return on investment.