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Charleston Property Company | Top Features of a Successful Rental Property

charleston property company

When you are investing in rental properties or starting a Charleston property company, you’re most concerned with how to have the most successful rental property possible. How can you make sure your property is always rented out and taken great care of so that you make the most profits? These are the number one thing you are thinking about when making a purchasing decision on a home.

Once you start shopping, make sure that the rental properties you are interested in have these top features and you’ll be set up for success.

  1. Great Neighborhood- The most successful rental properties are found in the best Charleston neighborhoods where the standard of living is high, but the cost of living is lower. If you plan to rent to students, make sure you are near campuses. If you plan to market to families, make sure you are in the best school district. If you want to rent to young professionals, make sure you are near the business district or downtown.
  2. Crime- Invest in homes where the crime rate is low. You’ll get the best rental value and have an easier time selling for a great price if you ever offload your portfolio.
  3. Amenities in the Neighborhood- Charleston neighborhoods are exceptionally large, so when starting your Charleston property company, you should look for homes where there are great amenities within walking distance such as parks, gas stations, grocery stores, entertainment and more if you are trying to attract families. Depending on your target demographics, the amenities might change, but these amenities will attract the right tenants.
  4. Average Rent- A Charleston property company will do a lot of market research into the average rental rates of a neighborhood to ensure they will make the best return on investment when comparing the monthly mortgage to the rent.

One trick to knowing if a neighborhood is worth investing in for rental property is to check out home many vacancies are currently in the area. Homes that sit empty for extended periods of time are indicators of an undesirable area.

If you’re ready to hand the reins of your Charleston property company to an experience property manager that can take your investment to the next level, call Scott Properties at 843-790-4929.

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Rental Property Management in Charleston | How to Find Cheap Investment Properties

Rental Property Management in Charleston | How to Find Cheap Investment Properties

If you’ve wanted to get into the rental property management in Charleston business, the first thing you’ll need to know is how to find cheap investment properties. Most investors who make the best return on their investment do so by getting the best deals on their properties and then charging a fair market rate for the rent. With home buying slowing a bit from previous years, now is a great time for investors to be able to make amazing deals on the homes people will love to rent.

Tips From our Rental Property Management in Charleston

One of the best ways you can save on your investment properties is to study the MLS data for your area. You will be able to see all the available homes for sale, filter by price, and other criteria, and get alerts for new listings. You can also “favorite” homes for sale and get alerts when they go down or up in price. Study your favorite homes, and if you see they’ve been on the market for six months or longer, you are in a great position to start making deals and get your rental property management in Charleston company started off with a great home for cheap.

You can also find foreclosures in the MLS, and while some of these homes are not great choices for single-family rentals in Charleston, a foreclosure can be a good opportunity if the amount to rehab the home won’t exceed the home’s worth when it’s all said and done. You should also check out trustee or county auctions to get the lowest possible price.

Homes are often cheaper outside of the metropolitan areas of Charleston and can be a great choice for first-time investors as well. There are many families that love the atmosphere of the smaller towns with easy accessibility to the Charleston Metro Region. Most rental property management in Charleston companies own a variety of properties in several neighbors to be able to meet the needs of many different families.

If you own a single-family home that you’d like to rent out, call Scott Properties – 843-790-4929.