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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.

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Charleston Property Management Companies | How to Make the Move-In Process Go Smoothly

Ceiling Fan - Hardwood

Charleston property management companies are always looking for new ways to be efficient and save time and money because, ultimately, the savings turn into profits for the owners who employ them. When processes are followed that streamline processes tenants are often much happier as well. Outside of the leasing process, the tenant and property manager relationship will officially be established on the day of move in. These days can be incredibly stressful for tenants and property managers, so having an efficient process will be valuable in keeping everyone as stress free as possible. 

Follow some of these best practices from Charleston property management companies to make your move-in process easier for tenants and managers:

  1. Automated Payments- When property managers take electronic payments for deposits and first month rent, move in can be scheduled much sooner. Using a check or card online will have the funds guaranteed much faster than depositing a check and waiting for it to clear the bank. Your tenants will also feel secure in knowing that the money for their deposit and rent is paid expediently. 
  2. Use Apps for Property Management- There are dozens of apps available for smart phones, tablets, iPads, and more that will streamline rental processes such as inspections, storing information, requesting maintenance and more. Ditch the paper and pen and record all the information you would store in a tenant file through online software instead! Your tenants can even pay rent, request maintenance, or contact the property manager through some property management apps. 
  3. Maintenance Schedules- Maintenance teams are a crucial part of making sure the move-in process goes smoothly. Your team should be on a schedule for turnover maintenance and repairs for each home managed by Charleston property management companies. You will also need an effective communication system for various vendors that are not employed in-house with the property management company. 
  4. Communication- Apps and schedules are good tools for communicating but you will need to ensure that the tenants know and understand how to communicate the things they need and what the expectations are. We recommend scheduling a move-in appointment before the day of arrival to do inspections, set expectations, and go over any last-minute questions or details. 

One of the best ways to ensure the move-in process goes smoothly is to trust in Charleston property management companies to do it all! Investors with multiple properties should not shoulder it all alone. 

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

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Charleston Property Management Companies | What Costs Landlords Should Never Skip

3359 Dunwick

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.

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Charleston Property Management | How Soon is Too Soon to Hire a Property Manager

3102 N Atlantic #4

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.

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Charleston Property Management | What to Do Before Renting Your House 

3359 Dunwick

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. 


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Property Management Services Charleston SC | How to Get Lease Renewals Early 

15 Harleston

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.

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Property Management Services Charleston SC | How to Expedite the Move-Out Process

15 Harleston

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.

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Charleston Property Management Companies | What Do Tenants Want in a Single Family Home?

Lanyard Street - Carolina One Real Estate

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.

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Charleston Property Management Companies | Why Single Family Rentals Are Best

Siding - Suburb

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.