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Charleston Property Management companies need to grow to stay in business and keep turning a profit and attracting new property owners is the most crucial part of the process. There are three essential things that Charleston property management needs to do if they want to gain new rental property owners as fast as possible.

1. Show How Unique Your Property Management Company Is

Rental property owners who are looking for Charleston property management need to show how they stand out from the competition. What do you offer that other companies in Charleston do not? Build yourself a solid reputation, especially online and through social media, but also focus on what makes your business unique.

2. Show A Commitment to Growth and Profit 

A rental property manager is making a significant investment in Charleston property management, and they need to know your company is willing to capitalize on that investment. Stay on top of new market trends in property management and show that your company is adaptable and open to change and growth. Be prepared to answer questions about your business growth and where you see your Charleston property management company going in the next two to five years.

3. Show that you Care

A rental property owner is trusting your company to take care of large investment, and they want to know that you care about their business as much as they do. Create an online portal for owners to be able to track their account and see what their rental property is costing them vs. what their profit is. You should also keep owners updated with reports of maintenance, tenant issues, financial statements, and any other relevant information about the rental property.

Are you a property owner looking for the best Charleston property management company? Contact Scott Properties today and find out how they can help you make the most of your rental business.

Finding good tenants is one of the first things on a property owners mind when they decide to rent a home they own out to strangers. Bad tenants are an investor’s worst nightmare. Going through the eviction process can take a lot of money and time that you don’t have or want to spend. Even if the judgment is in your favor, recovering the monies owed can be nearly impossible. Then there are the tenants who move out and leave the house trashed or in need of extensive repair. Sure you can keep their deposit, but wouldn’t’t it be easier to not deal with bad tenants at all?

How Charleston Property Management Companies Can Help

Charleston property management companies can find the most qualified tenants to rent your property while eliminating the hassle for the homeowner. When a property owner hires a company to manage their rental properties finding the best tenants becomes easier, and faster than ever.

Property managers can do full background and credit checks on prospective tenants beyond what public access records provide. A property manager can find out past addresses, look at eviction records, job history and verify references and income. Doing the deeper digging takes time and money that property management companies have already invested in software and programs to help verify applications. When you hire a Charleston property management company to screen tenants, you are ensuring the most thorough check of the prospective tenant possible.

Property managers also know when, where, and how to market to attract the best tenants to your property. Marketing to the right audience is one of the most important aspects of finding good renters and property managers know all the best trade secrets, so they are not wasting their time showing your home to tenants who won’t qualify.

If you have a property you’ve been thinking about renting, contact Scott Properties today!

Charleston property management companies understand that when it comes to the rental home you own, you want that property to be taken care of and increase in value. When a property manager does an inspection or has a cause for concern to be raised about a possible hoarding situation, what can they do about it? Hoarding can result in home damage, and even make a rental home uninhabitable which is why Charleston property management companies should act over hoarding quickly.

Know the Tenants’ Rights

Hoarding has is classified as a mental health disorder subtype of obsessive-compulsive disorder. Being recognized as a health condition by the American Psychiatric Association qualifies hoarders for protections under the Federal Fair Housing Act as a disability. This means that you cannot forcefully evict someone for being a hoarder and Charleston property managers must make reasonable accommodations for hoarders before evicting.

What’s Considered Hoarding?

Messy and cluttered spaces do not constitute hoarding unless the behavior results in emergency exits being blocked, prevents sprinkler systems or ventilation from working, attracts pests, or create hazards for other tenants.

How to Confront a Tenant

Before you confront a tenant, you need to ensure that your lease enables you to do so. A proper lease will require tenants to keep their rental homes in a safe, clean condition, free from pests and hazards. Remind the tenant that their lease obliges them to these standards and see if the matter can be resolved without escalation.

What Reasonable Accommodations Must You Offer?

Reasonable accommodations are vague and may vary state to state but generally speaking, most judges will see a proven offer to the tenant of being able to rent additional space or giving an option to rent a storage unit within the realm of reasonable. You might also consider offering to allow them to rent a bigger home if they qualify or home with a garage or basement.

Evicting anyone is a complicated process, but it can be even more so when that tenant is a hoarder. If you want to prevent these situations from happening at your rental property, call Scott Properties today!

Charleston property management companies know that verifying income is essential to finding the right tenants to lease homes. Skipping verifying income can be tempting if you’ve already run a credit check and the prospective tenant has cash on hand for the deposit and first-month rent. While keeping your properties occupied is the goal of Charleston property management companies, leasing to a tenant that cannot afford to live in the home can become your worst nightmare.

How Much Income Does a Tenant Need?

The general rule is that your rent should only be one-third of your income. You will need to verify that your tenant makes at leastthree times the amount of rent in gross income annually. Keep in mind that some tenants may not have a traditional source of income that meets these requirements such as a salaried job; however, Charleston property management companies can also consider a co-signers income as well as student loans or grant money that the tenant uses for their expenses.

How To Verify Income

Most people have a traditional job that offers them a paycheck. Charleston, property management companies, can take copies of the paystubs to determine if the tenant meets the income requirements. If the tenant is self-employed, cash or commission-based employee, retired or a student, you will need to verify income in other ways such as:

• Tax return
• Annual income statement
• Employer verification
• W2 or 1099
• Offer letter
• Retirement, SSI, SSD, or Pension statements
• Bank statements

If a tenant cannot provide you with some proof of income, a red flag should be raised. Never make exceptions and waive the evidence of the income portion of the application.

If you need help finding the perfect, qualified, tenants for your rental homes in Charleston contact Scott Properties today!

Charleston property management companies know that tenant complaint is part of the job. A property manager may receive dozens of calls a day from tenants who need maintenance or have a complaint about their home or neighbors. Getting ahead of the most common reasons why tenants complain will help free your time for important business matters.

1. Home Dirty Upon Move in-The most common complaint from new tenants is that the rental home was not clean when they moved in. Charleston property management companies most likely have the home cleaned professionally top to bottom when they are turning the home for the next tenant, however after days or weeks of showing the home, dust, and dirt can settle and make the home look dirty. Before you hand over the keys to a rental home, take a walk through with a feather duster and do one last inspection.
2. My Landlord Never Calls Back-Tenants expect their Charleston property management companies to get back to them quickly, especially if there is an emergency maintenance situation. Property managers should be keeping track of their tenant calls and responding as soon as possible to keep good tenant relationships.
3. Pests!When rental homes sit empty, it is common for spiders and other insects to enter the home. No matter how clean the rental home is or how many times the pest control people came through, pests can become a problem at no fault to the homeowner. However, if a tenant complains about pests, you should contact your pest control company immediately and let the tenant know of the appointment time for extermination.
4. My Appliance is Broken-There are many different repairs that tenants will request from leaky faucets to stoves that stop working or HVAC that runs out of freon. There are no preventing maintenance issues that are part of normal wear and tear, but you can insist that your maintenance crew checks appliances when they are turning the home.

If you are ready for Charleston property management companies to take over the daily tasks of rental home management, contact Scott Properties today!

Property Management | Most people think of renters as young professionals, just out of college, starting their adult life or people who cannot afford to own a home. However, this ideology is proving incorrect as older Americans are selling their homes and choosing to rent instead. Rental property management in Charleston, South Carolina can see rental homes occupied quicker than ever if they market to the over 55 demographic.

Why Are Older People Renting?

The Harvard University Joint Center for Housing Studies concluded that the Great Recession has a huge impact on the housing market and rental market for people over 55. The findings of their study showed that home ownership from 2005-2015 declined 6% among 46-55 years old and the 56-65-year-old demographics. No longer able to afford their homes or forced into foreclosure, much older American’s were forced to start renting.

Now that home prices are back on the rise many older Americans are taking the opportunity to sell the homes they have invested in now that they no longer need the space. The extra cash from selling their homes can pay for years of rent on a smaller home and put money into savings for retirement, traveling, fun, or trusts for their next of kin.

Why You Should Rent to Older Tenants

Rental property management in Charleston should market towards seniors because this demographic is more often financially stable, settled, and in a better position to take good care of a home for a long period. Older renters are also less likely to move out after their lease is up and will sign long term leases on places they love that also meet their needs. Tenants age 55-65 also have much more disposable income as their children are typically now grown up and rent payments can be consistent and on time.

If you are curious about how you can find rental property management in Charleston, contact Scott Properties today!

Charleston property management companies all require applications for prospective tenants. Applications are a necessary part of the leasing process because they help property managers to screen tenants. Most applications will require renters to include their basic information as well as a copy of their photo ID, social security number, proof of income (usually one to two months) and references.

Charleston property management companies use the information they gather in the application to run a credit and background check on applicants and verify that they can afford the home they are applying for. A property manager will also call your references and even past landlords that come up on the background and credit checks.

Some tenant applications are denied, and the tenant may be left wondering why. There are many common reasons that Charleston property management companies may deny your rental request.

• The tenant does not make enough money to pay rent. Most Charleston property management companies require tenants to make three times the monthly rent amount in income.
• Past eviction filings.
• Monies owed to previous landlords or property management companies.
• Credit score too low. Many companies will require a minimum of 520 credit score.
• Bad references.
• Violent criminal history or felonies.
• Unsatisfactory history of paying a comparable amount for rent or a mortgage.
• Pets do not meet the requirements of the lease.
• Other occupants of the home do not meet lease requirements.

Charleston property management companies do thorough checks on tenants to make sure that the homes they manage are occupied by the best possible tenants. The type of tenants you have can make or break your rental business but hiring a property management company to manage the properties is one way you can ensure that your tenants are the most qualified.

If you are ready to let professionals manage your rental property, call Scott Properties of Charleston today!

You’ve decided to join the millions of other property owners who have Charleston property management companies running their rental business. You know you want more time to invest, enjoy your retirement, travel, or spend time with your friends and family and have decided to hand over the reins of your rental business to qualified and successful property managers. How do you know which Charleston property management companies will bring you the most success?

Googling Charleston property management companies is a great way to start your search. Google search engine will give you many companies to start researching. Google will also give you the address, website, phone number of the business, as well as reviews that people have left on Google. After you have a list of the property management companies in the Charleston, SC area, start checking their websites, Yelp, Angie’s list, and other online sources to see reviews of the company.

Property owners cannot rely solely on reviews to get an understanding of the best property management companies available to them. When you call and talk to the companies, you are considering you should ask them several questions to see if they’re right for you.

• What is your turnover rate?
• What lease terms do you work with?
• Which are your preferred vendors for different services?
• What is your guarantee on occupancy?
• How many property owner clients do you currently work with?
• What is your marketing plan?
• How do you screen tenants?
• What system do you have in place for tenant emergencies?
• How often do you conduct inspections of the property?
• What services does your company prefer?
• Do you offer different packages based on service bundles?
• How fast can you turn a property for new tenants?

This list is not exhaustive of all the questions you should ask when determining the best Charleston property management companies for your rental business. When you’re ready to start talking to someone, contact Scott Properties now!

Charleston Property Management | Property owners put a lot of time and money into running their rental businesses. The costs associated with your rental home can be much more than you realized when you first decided to start renting your properties. Marketing, lawn care, cleaning, repairs, maintenance, pest control, and other costs of renting a home can add up quickly over time. One way to rein in those costs is to hire Charleston property management to handle your rental business.

What Does Charleston Property Management Do?

Charleston property management should be used for your rental business because a property management company can take all the pressures off your shoulders. A property manager can handle the tasks of marketing your home, fielding phone calls from prospective tenants, showing the house, and the entire leasing process which includes screening tenants. After finding the perfect tenants, Charleston property management will be the person your tenants will go to for maintenance requests, rental arrangements, and other issues they may have. Charleston property management will also handle rental inspections, lease renewals, and relationships with vendors including pest control, cleaning, and lawn care services.

Making More Money

Hiring property management has a cost associated with it so you might wonder how you can make money while employing someone else to handle your rental business. Most property management companies work by taking a fee out of the rental price of the home. This is usually a flat fee that depends upon the terms of the contract with the Charleston property management company. Paying this fee every month greatly diminishes the hassle that comes along with the rental property.

Most property management companies also have relationships with the vendors they use that affords them discounts and special pricing on services. This savings helps to keep costs lower for the property owners. Property managers are also frequently in touch with tenants and can keep up with the state of the home which allows them to get ahead of repairs that could cost a lot down the road.

If you are ready to put your property into the hands of a qualified property manager so that you can start making more money, contact Scott Properties today!

The most critical aspect of rental property management Charleston is to ensure that homes are occupied and their value continues to increase. However, there are a lot of mistakes that new property managers can make that could negatively impact the business and homeowner profits. Property management is a fast-paced industry that connects managers with dozens of people every week, making mistakes happen. If you know about these five common property manager mistakes ahead of time, you can avoid them.

1. Not Understanding the Rental Market-The first big mistakes that rental property management Charleston managers can make is not understanding the rental market. Cities like Charleston have many neighborhoods and smaller neighboring towns and cities. The average rental rates in each of these places vary, as well as the home values. Property managers need to know the market they are renting homes in.
2. Making Application Concessions-The application process should be thorough. A good tenant will be able to pass a credit and background check as well as income verification and references checks. Just because the background and credit come back great, doesn’t mean you should skip the references and income verification. You can find out a lot about a person by talking to their references and employer.
3. Not Charging an Application Fee-An application fee serves two purposes. One is that the fee helps to offset the costs of background and credit checks. The second is because if a tenant cannot afford the application fee, how will they afford the deposit and rent?
4. Not Understanding the Competition-Part of understanding the rental market is understanding the competition you have. Rental property management Charleston companies should always be keeping an eye on the competition to know when they increase their rent, offer specials, or have events.
5. Not Focusing on Retention-Rental property management Charleston managers have a lot on their plate. There are dozens of new people moving to Charleston every day and filling properties can be the majority of your day, but you can’t forget about resident retention. Once a rental home is occupied you want to keep good tenants living there.

If you are looking for a property manager for your rental homes in Charleston, contact us here.