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Charleston Property Management in SC | How to Increase the Value of Your Rental Property

Charleston Property Management in SC

Charleston property management in SC | One of the most important aspects of Charleston property management in SC is always making sure the property owner is getting the best return on their investment possible. Often, property managers are tasked with finding ways to increase the value of the rental price to turn a bigger monthly profit. However, staying within the market value range for a property is very important. Unless you’re offering some big incentives such as a hot tub, pool, temperature-controlled garage, or renting the home furnished, if you charge too much, the home might be sitting empty for a long time regardless of the appraised value of the home.

There are a few improvements Charleston property management in SC companies can make to rental homes that are easy, affordable, and can give you a few hundred dollars more on the rent price.

  1. Outdoor Entertainment Space: You don’t have to spend thousands of dollars installing an inground pool at your rental property. After all, no one in Charleston is far from the beach. However, Charleston residents love to socialize and backyard parties are one of the best ways to enjoy the company. Consider installing a deck or patio, providing a grill, firepit, and maybe some nice patio furniture with the property. If the home already has a deck or patio, it might be time to repaint or stain for a fresh, updated look.
  2. Curb Appeal: The nicer a house looks on the outside, the more rent people are willing to pay. Charleston property management in SC companies should make sure the exteriors of the homes they manage are not peeling, windows aren’t broken or cracked, the siding is all present, and the yard is clean and tended to. Simple landscaping that doesn’t require much upkeep from the tenants is also a great selling point.
  3. Including Utilities: One way that some Charleston property management companies in SC make additional profits is by including utilities in the rent. The tenant gets one easy payment for all their bills and the company can usually come out ahead, especially if the occupancy in the home is just one or two people who work full time and aren’t home much.

These are the top three ways to easily increase your rent value, but there are a few other things you can do that will have tenants not thinking twice about the rent. You can charge for pet rent every month as well as a non-refundable security deposit per pet. Many property managers also charge more for short term or month to month leases.

If you’re interested in getting the most value out of your rental properties, call Scott Properties of Charleston at 843-790-4929.