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Charleston Property Management in SC | What Are The Perks of Living in Charleston, SC?

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Have you recently graduated from college and are looking for the best places around the United States to apply for jobs in your field? Are you a wanderer trying to decide where to go next? Have you been allowed to start over but have no idea where to begin again? Charleston property management in SC will tell you that there is no better place to live than Charleston, South Carolina. Not only does Charleston have fantastic beaches, as well as rich culture and history, but there are dozens of reasons why this charming southern town is the perfect place for anyone to rent a home.

Perfect for Young Professionals – Charleston property management in SC are often renting single-family homes to graduate students who are fresh out of one of the colleges in town and starting their careers and families. The Medical University of South Carolina is also located here, which means the area is full of medical professionals.

Family Friendly – If you’re moving to town, don’t forget to ask your Charleston property management in SC company for tips of fun things for your family to do in town. Charleston has some of the highest-rated school systems in the state, as well as many parks, museums, and other great attractions.

Retire Here – The AARP consistently names Charleston has one of the best places to retire in the United States. There are retirement communities where seniors can live but also plenty of neighborhoods that are majority retirees, and smaller single-family homes for rent if a mortgage isn’t something you’re interested in!

Booming Economy – Over the last few years, more than one billion dollars have been invested in Charleston businesses and new business creation. The economy is thriving with Volvo, Boeing, and the universities and medical complexes, and the US military is some of the major employers. There are also many opportunities in tourism, with more than 5 million annual visitors.

Charleston is one of the most famous cities in the United States for the population as well as tourism, which means there is always something to do and see. Charleston is a stable city with job opportunities and a fantastic education system, and you’re sure to love the amazing single-family homes for rent with Charleston property management in SC.

If you’re ready to start finding your dream home to rent in Charleston, call Scott Properties today at 843-790-4929.

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Charleston Property Company | Do You Need An LLC?

Charleston Property Management

If you own rental property, you should consider if you need to establish an LLC for your business. An LLC is a limited liability company that protects owners from the debts or liability of the company. The limitation of liability is the top reason for property owners to form an LLC for their Charleston property company, but there are many other reasons as well.

Pass-Through Taxation – Business and property owners may have heard about pass-through taxation, which is a unique benefit to LLCs. This means that all profits earned from the business “pass-through” directly to the owner of the LLC who will file the business taxes. This means that earnings are not taxed before being distributed. When starting a Charleston property company, this can free up a lot of cash to invest back into your business or pay for expenses. However, many LLCs are responsible for paying a large sum of taxes after filing.

Multiple Ownership – Sometimes, there are multiple people involved in purchasing investment homes, and an LLC enables businesses to have 75+ owners all listed as members. Nonresident aliens can also be owners as well as corporations, and ownership is allowed to be disproportionate between owners and can be determined outside of investment percentage. Membership is anonymous for LLCs and can be beneficial if you don’t want your neighbors to know what business you own.

Losses Over Profits – An LLC allows the business to claim losses above each individual’s owner’s investment, which can relieve individual tax burdens. Owners are also able to be active in managing their Charleston property company without losing the benefits of limited personal liability.

If your property investment company or Charleston property company doesn’t have multiple owners, make over $100,000 per year in profits, or are not looking for anonymity, you might not need an LLC for your business.

Scott Properties in Charleston can help you manage your rental properties so you can focus on your business. Call us today at 843-790-4929 to discuss your properties.

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Charleston Property Management in SC | How to Write Great Rental Listings

Charleston Property Management

Charleston property management in SC is a competitive field with more than 260 homes listed for rent on Zillow at the time of this writing in Charleston and more than 700 apartments. This might seem like a lot of houses for rent. Still, with the continually growing population of the metropolitan area and surrounding communities, these homes rent quickly when the listings are well-written.

What Should Be Included in a Rental Listing?

The best rental listings will always have a defined target audience. Charleston property management in SC understands great listings being targets towards retirees will read differently than a listing for millennials or expanding families. Property managers should also know the details of the neighborhood, such as the school district, nearby amenities, and crime rates, and while it may seem obvious, the details of the home are essential to know.

You might be surprised at how often a listing has the wrong number of bedrooms, bathrooms, or square footage shown. You should also know if there is a garage, driveaway for off-street parking, fenced-in yard, swimming pools, or other stand-out features of the property. These details will also help interested renters see the value of the rent.

The most important factor to list is the price of rent and how to contact the Charleston property management in SC for a showing of the rental home. If the reader doesn’t know how to contact the property manager, the deal will never be completed.

Choose Your Words Carefully

Charleston property management in SC knows how important it is to choose your wording carefully when listing a property for rent. You want to avoid using superlatives, such as “the best” or “great.” Instead, focus on showing, not telling, the renter why the property stands out by using descriptions and details.  One example is rather than say, “this bedroom has the best views in town,” try, “The Master Bedroom has a balcony overlooking the immaculate backyard landscaping with views of the nearby lake and public park.”

If you’re looking for Charleston property management in SC, call Scott Properties at 843-790-4929.

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Charleston Property Management | Why Your Renter’s Need Renters Insurance

Charleston Property Management

Working in Charleston property management, you probably know that most renter’s think they don’t need renter’s insurance. Many tenants of single-family homes believe that their possessions are covered over their landlord’s insurance coverage; however, they are mistaken. Property managers should consider adding a renter’s insurance requirement in their leases but also need to be prepared to explain to tenants the benefits.

Relocation Costs for Tenant – If something catastrophic happens where tenants are forced to find new accommodations, some renter’s insurance policies will cover temporary housing until they can move back into the home. If the tenant doesn’t have renter’s insurance and the home burns down or floods, they may expect the Charleston property management company to pay for their new accommodations and cover relocation expenses.

Liability – Your landlord liability policy probably doesn’t cover injuries or property damage due to tenant carelessness or neglect; however, renters insurance protects the renter’s personal property as well as covers personal liability if one of the renter’s guests is injured in the home. Without renter’s insurance, the injured person could potentially sue the homeowner or Charleston property management company.

Insurance Rates –The more claims a Charleston property management has to make on their insurance, the higher their rates could be at renewal or if they switch companies. Requiring that tenants provide proof of renter’s insurance is a smart way to make sure your costs stay as low as possible. When your insurance refuses to cover tenant personal property or damage caused by tenant neglect, the renter might try to sue you personally. No property manager wants to deal with litigation, especially with a current tenant, so requiring renter’s insurance can help to save you this hassle.

There are virtually no cons with requiring tenants to have renter’s insurance. Tenants who understand the benefits of renter’s insurance are less likely to be upset by the requirement. They will appreciate the opportunity to have renter’s insurance to protect them and their belongings.

Charleston Property Management

If you’re interested in working with Charleston property management to rent your investment home, call Scott Properties today at 843-790-4929.

 

 

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Charleston Property Management in SC | Best Neighborhoods to Live in Charleston

Charleston Property Management

Moving to Charleston is sure to be one of the best decisions you’ve made; however, the city is so large and has so many different neighborhoods it might take some time to figure out which is best for your family. Working with Charleston property management in SC is a great way to locate which neighborhood will suit your needs best, but we’ll give you the rundown on some of our favorites.

Mount Pleasant-This Charleston suburb is often rated the #1 best neighborhood by Charleston property management in SC. The population is around 84,000 and offers a city feel in a suburban area with lots of restaurants, the best schools in Charleston, public parks and green spaces, and preserves a conservative, family atmosphere with single-family homes one of the most popular rental options.

Charleston-Living in the city is always an excellent choice for families or single people. The population is just over 133,000 and offers a dense suburban atmosphere with lots of bars, coffee shops, restaurants, galleries, and parks. The city tends to be more moderate leaning than conservative, and the public schools are rated above average. There are also many rentals available in the city, with nearly half of the residents choosing to rent their homes rather than own.

Folly Beach-The population is small, with less than 3,000 residents. Still, the area is perfect for young professionals that are looking for a suburban environment with high-value homes and conservative values. Single-family homes are popular rental options here, with the average rent being more than $1,000 per month. Folly Beach is perfect for people who want to live right on the water and enjoy coastal living.

Summerville- Families love Summerville because it is one of the best for raising children. There is more diversity here than in other neighborhoods in Charleston, and the pubic school systems are highly rated. About one-third of the 50,000+ popular rents, but the average home value is less than $200,000, which makes the rent in single-family homes more affordable than other neighborhoods.

Charleston property management in SC should be able to answer your questions about any of the neighborhoods in Charleston County. Each neighborhood offers its unique perks and benefits, and a property manager can help you find the perfect rental for you.

If you’re looking for property to rent in Charleston, contact Scott Properties at 843-790-4929.

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Charleston Property Management | Managing Multiple Rental Homes

Charleston Property Management

Investing in properties for single-family rental homes is always a great idea. The rental market is booming, and homeownership is one of the most reliable forms of wealth building. By 2030 the need for single-family rental homes is projected to grow from 16 million to 29 million. It seems like the perfect need-based investment; however, you might not be aware of precisely what your monthly or yearly profits will be. For some investors, when you factor in a mortgage, maintenance, and property taxes, vs. what the market rent is for that property, the profits may only be a few hundred dollars per month. The potentially low return on investment is why many investors purchase multiple homes and hire a Charleston property management company.

How to Choose the Right Properties

There are many factors to consider when purchasing the right rental properties. Low-risk investments such as homes in good school districts and safe neighborhoods will cost more and have higher mortgage costs but are more likely to stay full and attract great tenants. While your yield will be lower, you get the safety and security of the home is likely taken care of by trusted renters.

The higher the risk, the better the reward, though, right? Low-risk homes have their advantages, but if you’re looking to make faster cash, consider lower-priced homes in the less desirable neighborhoods or homes that may need a little investment in a renovation. The mortgages, taxes, and insurance will be less while the market rent will be similar in many neighborhoods which means a better profit for you

Hiring a Charleston property management company is a great way to ensure you are investing in the right properties and getting the best return on your investments. Managing multiple properties is a huge commitment, and if you’re only making a few thousand dollars per year, it may not be worth it to play owner and landlord. Let a professional Charleston property management company help you manage your properties. You can also bank on their knowledge for investment advice!

Working with a Charleston Property Management Company

When you’re ready to partner with Charleston property management, call Scott Properties at 843-790-4929

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Charleston Property Management | Why Investors Need Property Management

charleston property management

Property investors all know the obvious benefits of teaming with a Charleston property management company. These companies take most of the work off of the investor’s shoulders, which enables them to focus on expanding their portfolios. Great property managers can also be the face of your rental company and provide top-notch customer service. Another great perk is that they have a network of maintenance vendors at their disposal. Aside from these obvious great benefits of hiring a property manager, there are a few more you may not have considered before now!

  1. Better Tenants-Not only does a Charleston property management company utilize the best background and credit check software to process applications, but an established property manager will have kept detailed records of their tenant’s track records. When investors are trying to fill their single-family rental homes, having a property manager that has already worked with many people in the area and knows the families is a great idea.
  2. Marketing Services-Charleston property management teams not only handle tenant communication, leasing, and maintenance requests; they also provide valuable marketing experience for rental  homes. A local property manager will have excellent neighborhood knowledge, be able to list the property in all the most popular listing websites, and can optimize those listings. They are also on-site to be able to take photos, stage homes, and create enticing descriptions for listings that will attract potential renters
  3. Consulting-Your Charleston portfolio can expand quickly when you work with a property management company. These people are plugged into the real estate industry, trends in the communities, and can help investors find excellent properties at even better prices. Your property manager might be able to give you a heads up on investors selling off their portfolios, homes going into foreclosures, or advance sales on subdivision plots that could all make great rental homes for families in Charleston.

Partnering with property management is the best thing you can do for your investment. You’ll get a great ROI and save yourself a lot of time and money by letting professional property managers handle the day-to-day affairs of your rental business.

Contact a Charleston Property Management Company

If you’re ready to discuss hiring a professional property manager in Charleston, contact Scott Properties at 843-790-4929.

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Property Manager | Should You Let Tenants Do Their Own Landscaping?

Charleston Property Management

One of the best parts of living in a house is being able to plant flowers, trees, beautiful landscaping, and enjoying your backyard. While homeowners can do what they want freely with their yard space (with exceptions of city ordinances or HOA regulations), families renting their homes might not get to enjoy this perk of single-family home living. If your tenants ask you about planting a garden, adding or changing the landscaping, or upgrading the backyard, there are a few considerations you can make as a property manager before deciding.

  1. The Owner-At the end of the day, the property owner will decide what kind of landscaping or improvements/upgrades can be made to the property. As the property manager, you might just have to explain to tenants that the decision is out of your hands if owners don’t agree with what the tenant would like to do.
  2. Lease-The lease is a legally binding agreement, and the rules about gardening and landscaping or changes to the existing property may already be outlined in the lease. Making exceptions for tenants and bending the rules is frowned upon and can get you into a tricky situation when other tenants ask for exceptions to be made for them as well.
  3. Cost-One thing a property manager must keep in mind is the cost of the improvements or landscaping. While the tenant may offer to pay for and maintain the landscaping themselves, what happens when the tenant decides to move out in the future? Will they want to dig up all the plants and take them when they move, leaving a mess of dirt and holes in the yard? Is the property owner willing to have the landscaping maintained after the tenants move out?
  4. Curb Appeal-Landscaping can significantly improve curb appeal and add value to the home or attract new renters quickly. However, complicated and intricate landscaping and garden beds could be challenging to maintain or unappealing to other renters.

If you do decide to allow tenants to change or add landscaping, make sure that you are working together to come up with the best plan and design. There’s nothing wrong with limiting the tenant’s options as long as all parties are following the terms of the lease. Coming up with a plan together is a great way for a property manager to increase resident satisfaction and retention as well.

Contact a Charleston Property Manager

If you’re looking for a property manager you can trust, call Scott Properties at 843-790-4929.

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Rental Property Management in Charleston | Regular Maintenance on Rental Homes

Property management in charleston

One of the biggest complaints that tenants in single-family homes have is that the rental property management in Charleston is slow to respond to their maintenance requests. Often, however, property managers have multiple homes to manage, owners, and maintenance crews to organize. This can leave tenants feeling unheard and unappreciated. One thing that rental property management in Charleston can do to help curb this dissatisfaction from tenants is to conduct regular property maintenance on their rental homes.

Rental Property Maintenance

Tenants rely on a rental property management in Charleston to ensure their homes are in good condition and safe. Significant problems are often unavoidable in homes and can be a massive burden for tenants, management, and owners. Still, many situations can be avoided when maintenance has been kept up on the home. Some of the routine maintenance that needs to be scheduled includes:

  • Twice per year roof inspections
  • Gutter cleaning
  • Air duct cleaning
  • Lawncare
  • Sidewalk and walkway repairs
  • Porch repairs
  • Chimney cleaning
  • Driveway repairs
  • Landscape maintenance
  • Pool maintenance

Some of these maintenance responsibilities could fall on tenants, including lawn care and landscaping duties; however, the lease should clearly define these responsibilities for the tenant and the property manager or landlord.

A great way to save time and money on routine maintenance is for owners to hire rental property management in Charleston to take care of the ins and outs of the daily landlord’s life. Many of the professional rental companies in Charleston have a trusted team of maintenance staff that can perform maintenance on a schedule as well as respond to regular maintenance requests from tenants. Utilizing a service like this is easier and more effective than having numerous vendors on hand and trying to get in contact with each of them.

Contact a Rental Property Management Company in Charleston

Let Scott Properties in Charleston manage your single-family rentals. Give us a call today at 843-790-4929.

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Property Manager | Short Term Single-Family Home Rentals

Property Management

There is nothing worse for a property manager than having a beautiful, large, immaculate house to rent, but no tenants wanting to move or buy. During times of pandemics like COVID-19, people are slower to pack up and move, commit to new financial obligations, or want to risk spending their money on application fees and background checks. They also won’t want to go door-to-door, looking at different available homes.

When a property manager has a vacant home for rent, and a long-term leaser doesn’t seem to be appearing, you can consider short-term lease options. Lease terms can go for a month, three months, summer, school semesters, or even month to month leases. South Carolina always needs short term rentals, especially for families spending the summer on the beaches and students from fall to spring.

During times of pandemics such as Covid-19, single-family homes can also be great accommodations for traveling nurses or nurses that are coming to the city to work temporarily in Charleston hospitals. Many of these nurses, doctors, or even volunteers don’t mind sharing their accommodations if it means a more comfortable space for them and also saves them some money.

Pros of Short Term Rentals:

  • Allows rent to be collected, even when there is not a long-term renter
  • Can sometimes allow for more rent to be charged because a group of renters can be charged per person or per bedroom each month rather than one price that covers the entire property
  • Short term rentals allow flexibility for the house to have improvements or upgrades planned, or for the owner to live in the home short-term between renters if needed.

Disadvantages of Short Term Rentals:

  • Short term renters are less invested in the property and could be more likely to cause damage or not clean.
  • Short term renters often cannot be responsible for utility bills if they live in the home fewer than three to six months due to the way billing cycles work.
  • A property manager has to put forth much more effort to run a short term rental because of the marketing, showing, and application processing happens more often.

One of the best things a property manager can do is talk to the owner about their best options. Many investors have no idea about the rental market where the homes are located and rely on a knowledge property manager to let them know about market trends and community needs.

Contact a Charleston Property Manager

If you’re looking for a property manager for your Charleston investment property, call Scott Properties at 843-790-4929.