If you have been looking to invest in rental properties, you have probably been wondering which types of rentals are the most popular and profitable. Charleston property management companies offer many distinct types of rental to appeal to all the demographics of renters in South Carolina. However, first time investors will have some security by investing in one of the most popular type of rental homes.
Single-Family Homes- The most popular type of rental for families are single-family homes. These detached homes usually have yards, and neighbors have defined property lines.
Multi-Family Buildings- These can be large apartment complexes with dozens of buildings and hundreds of apartments, or smaller like duplexes, triplexes, and fourplexes.
Townhomes- Also called row houses, these homes are built connected to each other on at least one wall. They are normally two stories and often share connecting yards as well. Townhomes are often built as part of larger multi-family complexes.
Condominiums- Condos are multi-family units that are privately owned. Investors can purchase these buildings and then sell individual units.
Investors in rental properties have traditionally pursued long-term rentals of a year or more when trying to attract tenants. There are other investors who have ventured into the Air BnB side of renting where short term rentals of just a few nights are popular. Air BnBs are generally in houses, apartments, or guest houses. These rentals can be unpredictable, and tenants are not screened the same way they would be for long term renters signing leases.
Charleston property management companies understand the risks and benefits of the distinct types of rental properties. Once you find the perfect investment, you will need a property manager that can find the best tenants through marketing, screening, and taking care of the day-to-day tasks of managing rentals.
Single family homes are some of the best properties to focus your investment on. When you are ready to hire a property manager to take your investment to the next level, call Scott Properties at 843-790-8502.