No Comments

Why You Should Invest in Charleston Property Management Companies

Property Management Companies | Charleston South Carolina is growing with 18,381 homes being sold in 2017 and the area seeing an increase of 21.6% in new construction. Home values are also increasing dramatically and quickly with the median home value in 2016 selling being $240,000 compared to 2012 when the median was $190,050. The average sale price, however, was $321,102 due to the many high-end family homes in the market. The gross yield (the total annual income an investor receives from an investment property divided by the price or value of the property) was 8.9%. With trends like this, now is the best time to invest in Charleston Property Management Companies to grow your rental business.

The most recent study published by the Charleston Metro Chamber of Commerce and conducted by Charleston Southern University shows that every 24 hours the Charleston Metro area which also includes Berkley and Dorchester counties, sees 45 new residents moving into town daily with Charleston creating 20% of the new jobs in the state of South Carolina.  Conde Nast Traveler named Charleston the #1 small city in the U.S. and Yelp named the city the #5 most up and coming. Charleston is also the top east coast city for millennials who are also the most likely to be renting single-family homes. Rent on single families homes also increased by 49% since 2010.

After you buy residential property in Charleston, you will need to invest in Charleston property management companies to ensure you are operating the smoothest rental business possible. Property managers take the pressure off the homeowner when it comes to marketing, leasing, and dealing with tenants. What’s best is that when you invest in property management for your rental business, you no longer have to worry about the day to day tasks. You still make residual income from rent but have a fraction of the work to do.

Contact your Property Management Experts at Scott Properties of Charleston today!