Rental Property Management in Charleston | Investing in Single Family Real Estate in 2020
Have you ever pondered jumping into rental property management in Charleston? If your answer is “yes,” 2020 is the time to invest in single-family real estate. Some experts are saying with the economy slowing down, 2020 could be a challenging or risky time for investors, especially in coastal cities where economies revolve around shipping yards for importing and exporting goods around the world. However, in big markets like Charleston, the economy is still thriving with businesses in the IT sector and other markets. Home prices are also stabilizing, although still planned to increase by an additional three percent in 2020, along with rent prices. Buying into rental property management in Charleston early in the year will be the best time.
Rent Vs. Own Gap
The recent surge in the prices of single-family homes has made buying just out of reach for the average first-time homebuyer but still a great investment for those who want to go into rental property management in Charleston. Would-be homebuyers with families are still looking for single-family homes to meet their needs for space and privacy which means there is unimaginable rental income to be made, especially in Charleston.
Rental Property Management in Charleston
Buying the perfect home to rent out is the easy part; managing a property with tenants afterward is long, and often tedious, work. Marketing a vacant home, leasing, maintenance, upkeep, and everything else that goes into property management can be easily managed by outsourcing this work to a property management company.
Property management companies take the burden of managing the properties off of the investors’ hands so they can focus on other things and just let the profits roll in. With the price of renting rising in big cities and metropolitan areas, investors are looking to make a nice return on their investment when they rely on the right rental property management company.
Experienced property managers at Scott Properties are waiting to talk to investors about their single-family homes today! Call 843-779-6527 to learn more about how we can help owners.