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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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Charleston Property Management Companies | Best Place to Market a Home for Rent

Author: Scott Wallace
Categories: Charleston Property Management Companies

If there is one thing that Charleston property management companies know, it is that the market is constantly changing with new trends, new best practices, and new technology coming available. Twenty years ago the best places to market a home for rent were newspapers and rental magazines. Today, the industry has moved predominately online with many different platforms having rental market success.

Online Marketing for Rental Homes

Charleston property management companies will find the most success in utilizing the online platforms for rental marketing. Craigslist was one of the first platforms to offer online rental marketing outside of the companies such as rent.com. Craigslist is still used today by property managers all over the country to market their single-family homes, apartments, duplexes, and more to the masses.

Another platform that has recently taken off in the last few years has been Facebook Marketplace. With millions of people, especially millennials, using Facebook it only makes sense that the marketplace would include a niche for rental homes. Facebook can filter search preferences by the number of bedrooms, bathrooms, square footage, and location.

Online platforms are also a great way for tenants to see what a rental home will look like before booking a showing. This helps Charleston property management companies manage their time more efficiently and only show homes to people who are genuinely interested.

When posting rental advertisements online, property managers should ensure they always include complete information in each listing that details all the specifications of the home as well as several pictures that highlight the best things about the home. Make sure to include pictures of the living room, master bedroom, bathrooms, and kitchen, as well as the outside of the home and backyard if there is one. Proper staging of the rental home can take photos to the next level and help renters envision themselves living in the home.

If you’re looking for Charleston property management companies to get your properties rented quickly, call. Scott Properties at 843-790-4929.

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Charleston Property Management Companies | Open House or Private Appointments?

Author: Scott Wallace
Categories: Charleston Property Management Companies

One thing many who start working with Charleston property management companies don’t realize is the amount of time that will be spent showing homes to potential renters. If you’re targeting the right renters with your marketing, you should be able to land well-qualified renters quickly. However, there are times when the rental property is so desirable that many renters will want to take a tour. Property managers will need to decide what is the best way of showing a rental property—open house or private appointments?

Pros and Cons of Open Houses

Open houses are great because Charleston property management companies can show the home to many different prospects in a short period of time. Open houses are a great way for property managers to get exposure to the available home as well as see the quality of homes Charleston property management companies have in their portfolios.

The major drawback to an open house however is that the property manager may not have time to connect with each renter that stops by the property. This means that you might spend time running applications for renters that are not always qualified and missing out on getting applications into the hands of the prospects who are qualified.

Pros and Cons of Private Appointments

Private appointments are one of the best ways to show a rental home because the property manager is able to connect one-on-one with the renter and help them determine if they are most qualified for the rental home. When connecting personally with potential tenants it is much more likely the property manager will get the application filled out on-site and the home that much closer to occupancy.

The only major drawback to private appointment showings is the extra time these take. Private showings take longer but are vital in providing the best customer service possible and attaining quality renters and complete applications.

If you’re looking for Charleston property management companies to get your properties rented quickly, call Scott Properties at 843-790-4929.

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Charleston Property Management Companies | What Property Managers Need to Know About Pest Spraying

Author: Scott Wallace
Categories: Charleston Property Management Companies

There are many different services that Charleston property management companies provide to renters. Some companies will provide different or more services than others, but all companies are bound to provide what is outlined in the lease renters sign. One of the most popular services that renters usually can count on to be included in their lease is pest spraying.

How Often Do Rental Homes Need to be Sprayed for Pests?

Most Charleston property management companies will provide quarterly pest control treatment in rental homes. If a home has a history of pest infestation issues or the area is prone to pests, bimonthly or monthly spraying may be necessary. When there are current infestations monthly treatments can be necessary for anywhere from three to six months.

What Type of Pests Does Chemical Treatment Protect Against?

Chemical sprays only protect homes from certain types of pests. Insects and spiders are the most common pests that these treatments can prevent. Moths, pillbugs, silverfish, ants, cockroaches, and bed bugs also respond to chemical treatments. Infestations of rodents such as mice are not controlled by these types of sprays.

Do New Homes Need Pest Control?

Every home that is managed by Charleston property management companies needs pest control and this service frequency should be outlined in leases. Pest control not only helps to retain residents but also protects the homes from infestation damage.

Because areas often have to be cleared to make way for new home construction, environments are destroyed making it more likely for insects and other pests to try to find shelter inside the newly built rental homes. Leftover sawdust and wood scraps are also very attractive to insects.

If you have recently completed construction on a rental home, make sure to have pest control spray the home after it is completed, and Charleston property management companies can help schedule future visits during the rental processes.

If you’re looking for Charleston property management companies to get your properties rented quickly, call Scott Properties at 843-790-4929.

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Charleston Property Management Company | How to Prevent Squatters in Empty Rentals

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

Although single-family homes managed by our Charleston property management company are always full, there are many other property managers who must deal with the problem of squatters in the rental homes. You might think that getting people out of a home that do not live there would be as easy as calling the police, but most states, including South Carolina, have laws that protect squatters in some cases. There are no laws regarding removing squatters, but all property owners will need to go through the judicial process to have squatters removed. The best thing a property manager can do is prevent squatters from occupying empty rental in the first place.

Tips to Preventing Squatters

If your Charleston property management company wants to avoid dealing with squatters in rental properties, there are a few precautions you can take.

  1. Proper Tenant Screening- Squatters do not always come from people breaking into a home and occupying it without permission. Some people become squatters by overstaying their lease without signing a new one, letting friends or family stay in the home after they have moved out, or unauthorized subletting. Proper and rigorous tenant screening is the best way to avoid these problematic tenants.
  2. Move Out Inspection- Every Charleston property management company should be conducting move out inspections. These not only look for damages and lease violations, but also make sure there is no one else still in the home, that all locks have been changed, and the home is properly secured before the property manager leaves.
  3. Security- Having lights on timers, proper locks on doors and windows, and even security cameras can help prevent squatters from occupying empty homes after moveouts. Property managers should be showing the empty home regularly through marketing which also discourages break-ins and squatters from trying to enter.

If you are a long-distance real estate investor, the need for property management is even more important because you are not onsite to ensure your investments are protected when they are empty. Do not let squatters take advantage of you. Hire our qualified Charleston property management company to manage your homes today.

Scott Properties is here to help manage your investment homes. Call us for a consultation today at 843-790-4929.

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Charleston Property Management Company | Who You Need on Your Real Estate Investing Team

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

One of the best ways to be successful in real estate investing is to have a solid team of people to help you achieve that success before you ever buy your first investment property. When investors first start to become interested in buying and renting out their homes, the common misconception is that running a Charleston property management company on top of real estate investing will be easy. Trying to do it all yourself is a plan that will backfire on you every single time. In fact, there are 7 people who need on your team is you want to make the most of your investment.

  1. Mentor- Never go into investing blind. Most investors have a mentor in the industry who helps them become established, give advice, and help with leads.
  2. Real Estate Agent- Our Charleston property management company can provide leads on the best real estate agents for investors. Agents are vital to finding properties that are great deals and perfect for single-family rentals.
  3. CPA- Having a CPA working on your team is important, especially if you own multiple properties. Tax laws vary widely across the country and if you are doing long distance investing, they are vital to making sure your properties are legal.
  4. Attorney- Having an attorney who understands the real estate investing industry is imperative because they can ensure your leases protect you, the property deals are legit, and your business is structured in accordance with state, local, and federal business guidelines.
  5. Banker- Do not bounce around between mortgage brokers or bankers when securing deals on homes. Let the same banker handle all your financing to get the best rates and benefits.
  6. Insurance Agent- You will need insurance on your properties and your business once you start purchasing and you need investment, not homeowner policies. An experienced insurance agent will ensure you get the best policies for your properties and business.
  7. Charleston property Management Company- You need a Charleston property management company that can handle the marketing, tenant screening, leasing, maintenance, and other duties of a landlord so you can focus on growing your investments.

Building a trusted real estate investing team can take time, but that time is worth it. When an investor has a professional team around them, their returns will always be greater than expected.

If you are ready to discuss opportunities with a professional property manager, call Scott Properties at 843-790-4929.

 

 

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Charleston Property Management Companies | The Most Common Rental Properties

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

If you have been looking to invest in rental properties, you have probably been wondering which types of rentals are the most popular and profitable. Charleston property management companies offer many distinct types of rental to appeal to all the demographics of renters in South Carolina. However, first time investors will have some security by investing in one of the most popular type of rental homes.

Single-Family Homes- The most popular type of rental for families are single-family homes. These detached homes usually have yards, and neighbors have defined property lines.

Multi-Family Buildings- These can be large apartment complexes with dozens of buildings and hundreds of apartments, or smaller like duplexes, triplexes, and fourplexes.

Townhomes- Also called row houses, these homes are built connected to each other on at least one wall. They are normally two stories and often share connecting yards as well. Townhomes are often built as part of larger multi-family complexes.

Condominiums- Condos are multi-family units that are privately owned. Investors can purchase these buildings and then sell individual units.

Investors in rental properties have traditionally pursued long-term rentals of a year or more when trying to attract tenants. There are other investors who have ventured into the Air BnB side of renting where short term rentals of just a few nights are popular. Air BnBs are generally in houses, apartments, or guest houses. These rentals can be unpredictable, and tenants are not screened the same way they would be for long term renters signing leases.

Charleston property management companies understand the risks and benefits of the distinct types of rental properties. Once you find the perfect investment, you will need a property manager that can find the best tenants through marketing, screening, and taking care of the day-to-day tasks of managing rentals.

Single family homes are some of the best properties to focus your investment on. When you are ready to hire a property manager to take your investment to the next level, call Scott Properties at 843-790-8502.