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We Manage Rental Homes Charleston

Property Managers | More investors than ever are looking at Charleston, South Carolina as the ideal place to invest in real estate. Investors come from all over the United States to renovate rental homes Charleston due to the unique history and beautiful, colonial architecture that is still abundant in Lowcountry.

If you are looking at investing in rental homes, Charleston is the best place to do so. The city has a growing population with an average of 34 people moving in every day. There are miles of stunning beaches, historical sites throughout the state of South Carolina, and has Charleston has been named the United States number one city by Travel and Leisure Magazine on several occasions.

The average rent for a single-family home in Charleston is $950-$1700 per month which can be a great return on investment for investors in rental homes Charleston. However, managing the day to day activities that are involved in managing rental homes Charleston can be a headache for investors, especially when they own multiple single-family homes.

What Does Running A Rental Property Look Like?

If this is your first time turning properties you own into rental homes, Charleston is a great place to start. However, you will find that a lot of your time is needed when you are managing rental homes Charleston all by yourself. Marketing, showing, leasing, inspections, maintenance, rent collection, eviction, cleaning, and turning the single family home is a lot of work. You must always be available for maintenance emergencies. Charleston is on the coast. Keep in mind all the different types of emergencies that can arise due to location alone.

When you hire professional property managers to take over your rental homes Charleston, you will have peace of mind in knowing that every detail of managing your home is taken care of by the best. A professional property manager can market and rent your home quickly, take care of evictions without having to bother the investor, organize maintenance, collect and process rent, and keep your tenants happy so that you don’t have to.

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Single Family Property Management

Property Management | Nearly 60% of investors believe that adding single-family rentals to their portfolios would be worth the risk. Half of those investors are in no way interested in conducting the day to day business of property manager, however. Investors who buy and flip houses can hire a property management company to take over all the daily tasks related to renting that property out and running the rental business for the investor.

Often, when people think of the word property management, they think of large, multi-family apartment complexes with a leasing office and maintenance on site. Multi-family property management is a large segment of the market, but there are many investors who like to purchase homes and rent them out to just one family. These types of residences are called single-family homes.

Single-family homes are likely to be managed by a landlord or property manager. A landlord is a person who owns the home and manages the property and rental business. A property manager is hired by the owner of the home to manage the rental business in their stead.

Why Hire a Property Management Company?

Being a landlord is great fun for some, but a real headache for others. Landlords must market their rental homes, show the property to prospective renters, screen tenants, handle the leasing paperwork, and that’s just some of what a landlord must do beforethe home is occupied.

After renters move in, landlords must be available to handle maintenance requests, general questions, complaints, rent payments, evictions, lease renewals, and any problems that may come up when tenants are living in the home.

When tenants move out, a landlord must do an inspection, determine if the deposit is owed back, turn the property so that it looks brand new again including fixing anything broken, replacing carpets, repainting, and a deep cleaning. A landlords first time cleaning out a rental is one he will never forget!

When you hire property management you are hiring a professional company that will handle all these business tasks for you while you sit back and collects the profits!

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Rental Homes Charleston and Living on the Beach

Rental Homes Charleston | One of the reasons that rental homes Charleston are popular on the beach is because of the amazing weather that Charleston receives throughout the year. Seabrook Island, Isle of Palms, Sullivan’s Island, Folly Beach and Kiawah Island, offers the most amazing rental homes Charleston can offer to long and short-term visitors. More than ever before, property owners are renting their homes out to vacationers and short-term renters while they themselves are not occupying the home. There are a few things that you want to let your renters know about their beachfront rentals however.

  1. Raised Homes Equals Less Flooding.Beach front rental homes Charleston are susceptible to flooding from flooding and hurricane weather just like most coastal homes. When you are looking for rental homes Charleston beach properties, you should check out the homes that are raised first. For the same reasons, you should also way sure your rental insurance covers flood and storm damage.
  2. Pay Attention to Trees and Shrubs. When drainage on a rental homes Charleston property is poor, there will be few trees and other greenery able to grow around the property. If you see a lot of trees, especially mature ones, landscaping such as bushes, and shrubs, and no muddy patches when you are viewing a rental homes Charleston beach property, you can trust the land is drained well.
  3. Consider Off Beach.If you want to enjoy the beach but don’t want to worry about high tides and waves, consider rental homes Charleston properties that are off the beach. There are many rental homes that are only a few blocks from the coast. Most rental homes Charleston that are multiple stories tall are often in view of the water, even if not sitting on the sand.

Rental homes Charleston beach properties have a high turnover rate at the end of summer. If you are looking for vacant properties in Charleston, check for new listings in August/September. Scott Properties can help keep you in the loop with updated properties available.

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Rental Homes Charleston: Tips for Living Near the Ocean

If you own rental homes Charleston, South Carolina, then one thing your tenants must always be aware of the hazards of living near the ocean. Prepare your renters for what they need to expect about living near the ocean before they sign their lease and move in, especially if they are not local!

  1. Hurricanes-This one is a no brainer. If you live by the ocean you must be prepared for hurricanes. Make sure to let your tenants know what their responsibility is as far as hurricane proofing and what you will be providing or doing for them. You should also make sure your tenants known when hurricane season is. Consider giving them handouts about hurricanes and coastal risks.
  2. There is Sand Everywhere-Even if your rental property is not located on the beach it is likely that renters will experience sand in their home or find it in their vacuums. Sand is part of life when you live on the coast, especially if you have a rental home Charleston because the city is right on the beach!
  3. Salty Breeze-Ocean breezes are salty, and the breeze can be much cooler than the temperature outside. Most people who have rental homes Charleston find themselves wearing layers when not in the height of summer. The weather is also unpredictable when you live near the ocean with storms that can breeze in without much notice.

People who search for rental homes Charleston want to live in the city because of the rich culture and proximity to the water. When you live within steps of the beach there are water sports, boardwalks, live entertainment, and beautiful landscapes in your backyard. There are drawbacks to living so close to the water however and your renters need to be aware of all that costal living entails.

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Property Management Tips for Tenant Retention

Property Management | Great! You rented out your home and they signed a one year lease. That is a great milestone to reach as a property manager, but now the real work begins. You will have maintenance requests to respond to, rent that will need to be processed, and you will need to ensure your great tenants will want to renew their lease with you. Property management companies have many tips and tricks for helping tenants feel welcomed and happy throughout their entire lease term.

  1. Acknowledge Tenants Whenever Possible-Tenants want to believe that their landlord or property managers care about them. Renters like to know that they are people and not just rent checks. When someone applies for a rental home, you will most likely need their birthdate on the application. Send a birthday card to tenants to make them feel special.
  2. Be Timely with Resolutions-When tenants have a maintenance request property management companies must prioritize based on emergency or severity. Be upfront with tenants about how long they need to wait before a resolution. Always try to fill maintenance requests within three business days and let tenants know when any follow-up is needed.
  3. Welcome Gifts-Property management companies that make their renters feel appreciated will retain them longer. Offer new tenants welcoming gifts or make sure the rental home already has a roll of paper towel on the counter and a roll or 2 of toilet paper in the bathroom (we all forget about the little things on moving day!). Put a magnet on the fridge with all the pertinent phone numbers that tenants will need and a rent due date reminder. These little things go a long way when it comes to lease renewals. For residents who choose to renew, offer them a thank you gift such as new blinds, a carpet shampoo, or $50 off their next month rent.

Resident retention is something that a property management must be good at to stay profitable and successful. Don’t skip resident tension in your property budget.

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How to Make Tenants Love the Property Manager

The property manager is often made to be the bad guy with some tenants. The property manager is the person who calls tenants when they are late on rent, adds the late fees onto the account, must deliver the eviction notices. Property managers are often the bearer of bad news and the person tenants only speak to when they are having a problem.

One of the key characteristics of a successful property manager is the ability to have positive relationships with tenants. As a property owner, you never want tenants to be so at odds with the property manager that they are demanding for your information. You hired a property manager so that you wouldn’t be involved in tenants disputes, right? There are a few things you can do to help your tenants and property managers have great relationships.

  1. Give Notice-If you have been the one managing your own rental properties you should give notice to the tenants that you will be hiring a property manager. Do not shock your tenants by thinking you are leaving them high and dry.
  2. Have a Meet and Greet-Before you hand over the reins to a property manager, hold a meet and greet so that your tenants can meet the new property manager face to face. You can let everyone know who the knew person in charge is.
  3. Give Your Property Manager a Budget for Tenant Relations-If you really want to improve relationships between your property manager and tenants give them a budget for tenant relations. Allow the property manager to purchase a potted plant for each residence in the spring to put on their porch, or a new welcome mat each year after the snowy season. These small touches will show your tenants that the property manager cares.

Hiring a property manager is a big decision that can over very well or very poorly with tenants. Make sure to start off tenants relations on the right foot by doing the three steps above!

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How Property Management Can Increase Your Property Value

Property Management | One of the most terrifying aspects to renting homes is seeing what the home looks like after the tenant moves out. A lot of times, property owners who are not available to be hands on and present in the town the property is located will find themselves in a position where their property value has decreased after renters have been there. Even the best of tenants can do major damage to a property.

When a home owner has to replace appliances, carpet, floor, repaint, fix holes, and other issues, a lot of profit has to be put back into home to make it livable again. A property management company can help you prevent these problems and increase your property value.

Hiring a property management company means that you can background, and credit check your tenants easily. You don’t have to purchase and run software, track down tenant references, and verify job status. A property management company can do all of those tasks for you to ensure you get the best tenants possible.

You should always hire a local property management company to handle your rental property business. This way, the property manager can visit the rental home frequently and make sure that all maintenance issues are taken care of in a timely manner. The property management can help tenants prevent maintenance issues from getting worse and costing more money.

When the property management does an inspection of your rental home, they can often spot the signs for potential future problems. Home owners are able to get ahead of structural issues this way. The property management company should also be increasing the curb appeal of your rental home as well. The more attractive your home is on the outside, the more value it will have. If you sell your property you may get a better price for it. If you continue renting, you can charge more rent for property that is well maintained and designed.

Scott Properties excels in property management. Call today for a consultation!

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Finding Tenants for Rental Homes Charleston

Finding tenants for rental homes Charleston should be easy, after all the city has a population of 744,000 people in the metro area. People are flocking to Charleston for the job opportunities, family friendly atmosphere, and southern living. The median age of folks in Charleston is 36 and with the same number of people moving to town every day, property managers can have a tough time finding quality applicants for their rental homes Charleston.

The first thing you must do when you are looking for quality tenants for your rental homes Charleston, is have a comprehensive application that prospective renters fill out. This application should include:

Full Name
Proof of Income
Job history
Social security number
Current contact information including address
Past 5-10 years of rental history and job history
Date of birth
Driver’s license number

All members of the household that will reside in the rental home

Next, conduct a background check on the applicant to ensure they meet all the rental property qualifications. These could relate to criminal history, credit report, income, etc. Do not make exceptions for any applicants. This is against fair housing laws. All applicants for rental homes Charleston must be treated equally, so do not make concessions on the application criteria ever.

After the background and credit checks are passed, do a reference check on the applicant. Call their past employers and past landlords to get a better idea of the renter. While employers and landlords are limited by what they can disclose by law, they can tell you whether they would hire or rent to that person again at the very least.

If you have income requirements for your rental homes Charleston, make sure that they are reasonable. Standard practice is that rent should consume no more than one third of a renter’s monthly budget. Set these same expectations for your applicants to reduce the chance of late rent or missed payments. Including an application fee in your rental process can also give you a better idea of a person’s ability to afford your rental unit.

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What You Need to Know About Being A Property Manager

Property Manager | Do you love real estate, customer service, sales and meeting new people? Are you thinking about becoming a property manager? Being a property manager may seem like a lot of fun, but not everyone can cut it in the competitive marketplace. Here is what you need to know about being a property manager, so you can decide if it is truly the right fit for you.

1. You Must Always Be Available- You may have regular office hours that you hold for leasing, but once you have tenants, you have to be available for maintenance emergencies, issues paying rent, and other tenant issues at all hours of the day. There are answering services that can help field calls outside of normal business hours but if a tenant has true emergency you will be expected to handle it, whether it happens at 3 in the morning or on a Sunday Afternoon.

2. You Must Love People- Working as a property manager means that you will have to love people. You must be comfortable talking to people on the phone, through emails, and in person. You have to be friendly, outgoing and have excellent sales and customer service skills. If you aren’t comfortable around new people or don’t consider yourself a salesperson, being a property manager is not for you.

3. You Must Think Quickly- Making decisions in the moment is important for a property manager to be able to do. When your tenants have an emergency, you must be able to react quickly. If a tenant confrontation is escalating, you must be able quickly diffuse the situation while still protecting the property. A property manager needs to not only be able to make snap decisions, but those decisions must be the right decision. Decision making is a huge responsibility to have.

If you read through these three requirements for being a property manager and believe you are still cut out for the position, this may just be the correct career path for you!

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What A Property Manager Does to Get A Home Move in Ready

Property Manager | Turning a home, or getting the home ready for the next renter, can take anywhere from a few days to several weeks or even months depending on what needs to be done. When tenants leave rental homes in good condition, a property manager usually just has a few tasks to ensure are completed before the next tenant can move in.

1. Repaint. You cannot live in a home without damaging the paint on a wall. It’s inevitable and a property manager knows this. After a move out, most rooms in the rental home will be repainted. Often, a property manager may offer for the new tenants to be a part of this process by choosing an accent wall color.

2. Shampoo Carpets. Carpets in the home need to be, at the very least, shampooed in between tenants. If the previous tenants lived in the rental home for a long time and the carpet is worn, or the carpet has stains that cannot be removed, replacement may be necessary. Switching to wood or laminate floors can help a property manager replace flooring less often.

3 Deep Clean of Home. The property manager will hire or schedule a cleaning company to provide a deep clean of the rental home. Appliances such as the oven, refrigerator, and microwave will be cleaned. Dusting will be done as well as vacuuming, mopping, steaming floors, scrubbing toilets and bathtubs and much more. A deep clean should always been done between tenants and after any work needed.

4. Locks Changed. The rental homes locks should be replaced or rekeyed between tenants. While every property manager will request the keys to the rental home upon move out, there is no telling whether the previous tenants kept copies. Changing the locks between renters is standard in the rental home industry.

Other than damage to the home that needs to be fixed or major maintenance issues such as flooding, a rental home can be turned in just a few days doing the four things in this list. Scott Properties is dedicated to making sure every tenant moves into a move in ready home.