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Rental Property Management Charleston is Booming

Property Management | Charleston is a fast growing city with an average of 34 people moving into the region daily. Rental property is something that is always in high demand and families need more than a two bedroom apartment. Getting into the business now  by buying a residential property that you can rent out can make you a ton of money in the future.

According to the Census’s American Community Survey (ACS) has seen rent rates increasing. As of 2016, Charleston South Carolina Median Gross Rent was $1,051 against a national median of $981 and a median in the state of $841. This data shows that property owners can charge more for rent in Charleston than most other places in the country. Rental property management Charleston is the business to get into if you want to rent property.

The ACS also showed that Charleston has a vacancy rate of 6.34%. This rate is much lower than the state of South Carolina’s overall rate of 8.49% which indicates that Charleston is one of the most desirable places in South Carolina to live and rent a home in. Rent as a fraction of income was slightly higher than state and country average however at 21.87%. However, the percentages were comparable with the national average being only 20.43%. Renters in Charleston get much more bang for their buck however with beach and coastal community living and a vibrant cultural lifestyle that all residents can enjoy.

Once you decide to own property and rent it out in Charleston, you need to consider rental property management Charleston companies to manage your homes. Being a landlord means marketing, being onsite to show the house, being available 24/7 for your tenants in case of emergencies and having to handle maintenance and getting the house ready again after move out. Hiring rental property management Charleston companies like Scott Properties to manage your rental home is the best choice for any new rental property owner.

If you are ready to take the plunge into rental property management Charleston, contact Scott Properties today!