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Category: <span>Property Management Services in Charleston</span>
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Property Management Services in Charleston | What Upgrades to Single Family Homes are Worth It?

Author: Scott Wallace
Categories: Property Management Services in Charleston
Property Management Services in Charleston

Property investing can be a tricky business and it is all about balancing the numbers and making good choices on which properties are best to buy, and how to upgrade those properties to make the most of them. Property management services in Charleston have a lot of expertise when it comes to knowing what renters are looking for in single-family housing. We talk to tenants every single day who are asking for upgrades at renewal time and new prospects who expect only the best when living in Charleston. However, not every upgrade is worth it, and we will tell you what trends you can skip, as well as which are worth it.

Upgrades Worth Doing on Single-Family Rentals

There are many upgrades that will have tenants choosing to renew their leases without a second thought, and new tenants will appreciate. Some of these upgrades will even make it possible for you to charge more rent and make the property more competitive.

  • Upgrading the bathroom
  • Upgrading the Kitchen Appliances
  • Brand new carpet installation
  • Fresh paint
  • New cabinets and fixtures
  • A deck or patio
  • Hardwood floors to replace linoleum or vinyl.
  • Roof replacement
  • Siding Replacement

Property management services in Charleston see many tenants falling in love with properties that are newly renovated. Brand new roofs are also a great selling point that help renters feel safe and secure in the home.

Upgrades You Can Skip on Single-Family Rentals

Some upgrades are very costly and might not be worth it in the end. These are the upgrades you can skip, especially if budgeting is a concern.

  • Professional landscaping, especially if you are renting to families with kids or who may not be able to help with the upkeep.
  • Smart Home features may seem cool, but they do not add much value to the rental price. There are many wireless electronics that can turn your home into a smart home that tenants can use without the hassle and take to their future homes as well. Let them handle the technology.

Property management services in Charleston can work with investors to help create upgrade plans that add value to the home and be a reason to increase the rent at lease renewal time or for new tenants.

If you are looking for professional property managers to help you make the most of your rental property investments, call Scott Properties at 843-790-4929.

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Property Management Services in Charleston | Common Lease Loopholes

Author: Scott Wallace
Categories: Property Management Services in Charleston
Property Management Services in Charleston

No matter how secure a landlord thinks the lease may be, there are tenants who will do whatever they can to get out of their leases, including finding loopholes. Sometimes, even leases written by lawyers can be broken because of local laws and city ordinances that do not favor property management services in Charleston. One of the best ways a property manager can get ahead of tenants that try to break their leases is to be aware of the common loopholes they will try to use.

Property is Uninhabitable- Owners are required to perform maintenance on rental homes that keep the home structurally sound and safe. If there is black mold, no running water or waste disposal, lead paint, asbestos, or other hazards, a tenant may be able to break their lease without consequence.

Accuse the Landlord of Violating the Lease- Tenants will often try to break their lease by claiming those performing property management services in Charleston did something to violate the lease agreement. Some of the common accusations they will make include the property manager or maintenance crew entering their home illegally.

Infestations- Mice, termites, spiders, and other pests can often cause big problems for renters and property management services in Charleston. Preventative pest control is the best option to ensure there are no infestations at your rental properties, but if it does happen, tenants will often use it as an excuse to break their lease and move out early or stop paying rent.

Property management services in Charleston should always document every interaction they have with tenants to best protect themselves. The more evidence and documentation property managers have to back up their case and hold tenants to their contractual obligations.

If you need Property Management Services in Charleston, call Scott Properties at Scott Properties of Charleston at 843-779-6527.

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Property Management Services in Charleston | What Do Property Management Services Do?

Author: Scott Wallace
Categories: Property Management Services in Charleston

Investors in rental property know they cannot manage all the ins and outs of being a landlord on their own, especially when they have multiple properties in their portfolios. In fact, most investors already have property management services in Charleston in mind before they purchase their first rental home. Investors must be diligent in knowing exactly what they are signing up for when it comes to property management services in Charleston however because not all companies offer the same thing.

Some of the services you can expect with Property Management Services in Charleston include:

  • Determining the rent value of the property
  • Documentation of the interior and exterior of the property
  • Creating leases
  • Preparing the home for rent by cleaning and increasing curb appeal
  • Marketing the rental and creating ads across various digital platforms
  • Showing the rental to potential buyers
  • Conducting tenant screenings including credit and background checks
  • Leasing
  • Rental collection
  • Property maintenance
  • Inspections
  • Evictions
  • Representing investor/owner in court
  • Advise in legal disputes and litigation
  • Accounting services
  • Vendor services and payments
  • Tax advisement
  • Cash flow statements

This list is not exhaustive of what you might be looking for in property management services in Charleston and not all companies will provide each service listed above. When there are specifics needs you are looking to have met by property management services, make sure you ask about them before signing a contract.

Property management services in Charleston are the best way to ensure your focus can stay on your investing business while a team of professionals can take care of all day-to-day responsibilities of being a landlord or property manager. We’ll answer every call, respond to each inquiry, and ensure your property is well maintained and rented to highly qualified renters that have been thoroughly vetted through the application process.

If you are ready to start working with professional Property Management Services in Charleston, call Scott Properties of Charleston at 843-779-6527.

 

 

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Why Your Property Is Still Vacant?

Author: Scott Wallace
Categories: Property Management Services in Charleston,Scott Properties
Property Management Services in Charleston

One of the most frustrating things for property management services in Charleston is when properties are not renting quickly. Vacant properties mean no rental income and no rental income is the last thing that an owner wants to hear. When a home is left empty a property manager needs to decide why the renters are not interested in the home. There are several things that could be contributing factors to a home that is not garnering much interest.

  1. Overpriced- Single-family homes are more expensive than apartments but if the home you are renting is priced way over the others in the area you will likely have a difficult time renting it out. Property management services in Charleston are diligent in doing market research to figure out the best rental price for a home in various neighborhoods.
  2. Poor Marketing- A sign in the front yard is not always enough to get the attention of quality tenants. Property owners need to ensure they are marketing across many platforms including social media, rental sites, and craigslist to ensure maximum exposure. Some property management services in Charleston also do radio and TV advertising, billboards, and more.
  3. Curb Appeal- Ask yourself whether the home is attractive. When siding is dirty, the lawn is sparse and brown, the porch steps are broken, or there are cracks in the sidewalk leading to the home, possible tenants may think the home is not safe. They might also be weary of whether the home is clean inside which will turn them away from scheduling a showing.

Outside of price, marketing, and curb appeal, the only other reason a home would remain vacant is if there is no demand for rental homes; however, this is almost never the case in Charleston. Single family homes are in hot demand and great homes are not likely to stay on the market for long. If you have been interested in diving into real estate investment now is the time!

Great property management services are vital for success in Charleston renting and Scott’s Properties is here to make sure your rental business is the best it can be. Call today to set up an appointment at 843-790-4929.

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Are Move-In Deals Effective?

Author: Scott Wallace
Categories: Property Management Services in Charleston,Scott Properties
Property Management Services in Charleston

One of the things that is always on the mind of property management services in Charleston is how to keep tenants in homes so that occupancy rates are high, and turnover is low. Resident retention is especially important but getting quality, long-term tenants can sometimes be difficult. Many landlords are tempted to offer move-in deals to sweeten the pot and try to get more traction to their properties; however, there are many things to consider before offering incentives on rental properties.

  1. What is the Market? The first thing you must consider before offering deals is what the rental market is currently like. Are many of the property management services in Charleston struggling to fill homes? Are there move-in specials being advertised everywhere? If rentals are filling up fast, there is no reason to offer money off or incentives for new leases. Supply and demand must always be the first consideration you make when figuring out specials.
  2. Quality vs. Quantity- When you offer good deals for homes you will have an influx of tenants that will request more information or book showings; however, not all these tenants will be the high-quality tenants you are looking for. Some tenants who are looking to move as fast, and cheap, as possible may not be credit worthy or have the income available to sustain the rent long-term. Therefore, it is important to never offer free application fees either. You only want tenants that know they are qualified to apply.
  3. Time Vacant- When a property management service in Charleston has homes that are vacant for longer than a few weeks after a previous tenant moves out, they may think about offering a deal, especially if they have had showings but no concrete interest. However, before coming up with special offers, consider ways to make the property more attractive such as power washing the outside, planting fresh flowers, or redoing the driveway to increase curb appeal.

In addition to considering the market, quality of tenants, and time vacant, property management services in Charleston must also ensure that they will not be losing money or costing the property owner any money in offering deals or incentives.

If filling up your properties has become a hassle and you would like to talk to a property manager with years of professional experience, contact Scott Properties at 843-790-4929.

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