Charleston Property Management Services
One of the best and smartest ways to create generational wealth for your family is to invest in rental properties. Not only does investing in property create wealth, it also increases your residual income exponentially. Like any business, Charleston property management comes with many headaches, hassles, and even a few unexpected disasters from time-to-time. From marketing to maintenance calls, tracking down tenants who skip the rent, and having to turn every home brand-new again after a move out can be a lot for one person to handle.
One of the best ways to keep generating your wealth while avoiding worst parts of business ownership is to outsource to a Charleston property management company that can make the most of your rental. When you choose to hire property managers for your investment homes, you are trusting us to ease your mind, increase your revenues, and build your reputation as a property investor.
Take a look at some of the Charleston property management services Scott Properties offers to investors with portfolios of all sizes.
There is much more that goes into property maintenance than fixing a leaking faucet when the tenant calls and reports an issue. Maintaining property value is one of the key priorities for a Charleston property management company and we know that you want your property to stay in pristine condition. However, no matter how great your tenant screening process is, there are always a few that do unexpected damage or more wear and tear than you figured and large repairs sometimes need to be made.
Our company can assure you that your investments are taken care of as though they were our own; that homes are in sell-worthy condition before every new tenant; and that all property maintenance issues and requests are handled in a prompt and efficient manner. Our maintenance technicians are on call 24/7 to tackle emergencies and you can rest easy knowing that your property is supported by specialists that are licensed and insured.
Inspections are a regular part of the duties for property managers and should be performed at move-in, lease renewal (as needed), and move-out day. Inspections can occur more often if the lease dictates, but what exactly goes into an inspection?
Rental home inspections review the vital components of a home that suffer the most wear and tear such as:
- HVAC Systems
- Walls, flooring, roof, and other structural components
- Garage and property condition
Inspections also check for general safety and cleanliness of the property, bug or rodent infestations, and other potential lease violations. Owners can expect a detailed report of the home and the condition it is in at the time of inspection. These reports are also backed up by photographs and can be used to determine the tenant’s right to their deposit or added charges upon move out.
One of the most time-consuming parts of Charleston property management is completing the tenant screening process. Bad tenants can ruin a property investment, but good, responsible tenants can help you expand your portfolio and generate more wealth. Choosing the most qualified tenants is vital to keeping your property protected.
Thorough tenant screening completed by a professional Charleston property management company reduces your risk of having the police showing up at your properties, late or no rent payments, property destruction, and more. The screening process that Scott Properties uses involves:
- Employment and income verification
- Rental history verification
- Credit check
- Criminal background check
- Reference check
The most comprehensive background and credit checks cost money and most of the time, a Charleston property management company will often subscribe to a service that completes them. Charging an application fee to screen tenants is a way that property managers take more of the financial burden off the property owner.
Marketing and Advertising
The Scott Properties team knows all the tips and tricks to getting your investment home seen by the right renters. Homes that sit empty lose money. Therefore, ensuring that homes are always leased is a top priority for Scott Properties. Scott Properties is connected to all the best avenues for marketing from our social media platforms, to craigslist, Google, MLS, rental sites, and more. Scott properties uses modern marketing techniques to attract the right attention to your property.
Another aspect of a great Charleston property management company is having the knowledge to conduct competitor analysis for homes in the neighborhoods your investing in. The property managers at Scott Properties can provide you with data driven information to help you be informed on the best market value for rent on your home, rental specials, and other activity coming from your competition.
You might be weary to partner with a property management company because you want to know where all the money goes and how much you are seeing in profits. Scott Properties offers full transparency in our financial accounting services and can provide you with detailed financial statements each month, help you set up security trusts for deposits and rent, and even manage the billing and payments from vendors. This side of property management is one that requires attention to detail, accuracy, and a smooth workflow process. Our property managers can take this vital service off your hands.
The last thing Charleston property management companies want to deal with is evictions and other legal actions; unfortunately, these processes are a part of the job and business. Owners do not need to be burdened with these complicated and often drawn out legal proceedings. The property managers at Scott Properties can handle these issues before they reach the court room to help come to a resolution that saves everyone time and money through rental negotiations, serving notices, and tracking down tenants.
When owners partner with Scott Properties for their Charleston property management services, they are guaranteed to receive top notch, professional management of their properties that will protect their investment and increase their residual income.
Scott Properties of Charleston is proud to be known as “The Charleston Property Management & Home Rental Experts.” Our dedicated, expert staff of professional property managers have many years’ experience in leasing, marketing, and maintaining investment properties for owners. We provide our team with the best tools possible to manage your home, are connected to the best vendors in the area, and ensure that everyone is knowledgeable on landlord-tenant laws in South Carolina.
Having a Charleston property management expert in your corner is a vital asset to your business. By partnering with Scott Properties, you will always have access to a property manager who can help you navigate through the complex world of rental properties and increase your return on investment. Whether you have years of property investment experience or are an “accidental” investor (unable to sell your home), the Scott Properties experts are committed to maximizing the benefits of your investment through efficient management techniques that take the day-to-day hassle and headaches of being a landlord off the owner’s shoulders. If you’re looking to grow your portfolio, Charleston property
management is critical to a successful rental business and can help you streamline the process.
Here are a few of the Charleston property management expectations we are committed to at Scott Properties.
Keeping your property in good repair with minimal cost
Leasing your single-family home at market rates
A thorough and careful screening process for selecting tenants
Effective communication with owners and tenants
By staying dedicated to these Charleston property management expectations, Scott Properties will accomplish the goal of providing owners with peace of mind. You can rest easy knowing that Scott Properties is here to ensure your properties operate smoothly, your investment value is increased, and your home is the most desirable on the market. Property owners throughout the United States who own homes in Charleston rely on Scott Properties to attract and retain the most desirable and qualified tenants whether your property is a single-family home, duplex, triplex, townhome, or other rental property.
Scott Properties is also insured which offers our clients even more peace of mind.
General Liability up to two million dollars
Professional liability (errors and omissions) up to one million dollars
Worker’s compensation that covers every person who performs work on a property managed by Scott Properties of Charleston.
Maintaining the value of your asset is the number one priority of Scott Properties. When you partner will our Charleston Property Management service, you’ll collect rental income on a routine basis and see your property investment continue to increase. Many of our owners discover that when they are ready to sell the home, they are able to flip the property for much more than they paid without having to sink a lot of money into repairs and renovation. This is because when you secure the skills of a Charleston property management expert at Scott Properties of Charleston, you can be assured that you property maintenance issues will be handled promptly and with the utmost professionalism every time.
Property Evaluation Services
Along with ongoing property maintenance, Scott Properties also offers detailed move-in and move-out evaluations. Unlike other Charleston property management companies, Scott Properties will conduct a minimum of two property evaluations, or inspections, each year. We recommend for the inspections to occur every five months to ensure tenants are maintaining the property to lease expectations and also
abiding by all lease provisions including rules regarding the cleanliness of the home.
The property managers at Scott Properties will walk through the property and document all results of the evaluation by writing up a report as well as taking pictures when needed. These reports are sent to the owners and tenants. When there are violations or issues that need to be addressed, a re-evaluation will be scheduled to occur within 30-45 days to ensure tenant compliance. Tenants are responsible for
the cost of all items identified as the tenant’s responsibility. After the re-evaluations are conducted a report will be sent to both owners and tenants.
In some cases there are areas of repair that fall under Owner responsibility. Scott Properties will be diligent in notating these on the evaluation report and help the owner come up with a plan of action to resolve the issues. Owners have access to all reports and inspection documents through our online portal that enables our Charleston property management team to document the history of the property thoroughly. This detailed process benefits the owner because security deposit disputes can often be minimized or won when evidence is presented of wear and tear or violations that would result in a deduction of the deposit.
Important Note: Scott Properties never charges an additional fee to our owner for conducting these
evaluations and inspections. They are always built into our management services for all owners and are
guaranteed in our contracts.
Comprehensive Tenant Screening
Scott Properties runs every prospective tenant through an Artificial Intelligence Tenant Screening Platform. We will NOT, under any circumstances, move a tenant into your home until the tenant is approved based on the results of a list of qualifying criteria.
This criteria includes:
debt to income analysis
previous rental history check
criminal background check.
Once all this information is obtained, Scott Properties will review in detail and make a yes or no decision to approve the application. Once a tenant application is approved, a representative with Scott Properties communicate all the details about the new tenant and answer any questions you have. Finding the right tenants for your home is an extremely important part of the management process. A
tenant can make or break an investment opportunity.
Marketing and Advertising Services
The first step is for us to run a detailed property analysis report to determine a competitive rent amount for your home. Once an agreeable rent amount is determined, the marketing process begins. Scott Properties utilizes modern marketing & advertising tactics that will maximize our ability to find good, qualified tenants as quickly as possible. We understand that an empty home is lost revenue for you, so we work hard to make sure your home stays occupied.
There are several different avenues that Scott Properties may use to market your home including:
Scott Properties of Charleston Website
Automated Housing Referral Network (AHRN.com)
AOL Real Estate
MSN Real Estate
HGTV Front Door
Yard & Directional Signage
Financial Accounting Services
You don’t have to be a licensed CPA to own investment properties as long as you have Scott Properties of Charleston working for you! With all the income and expenses coming in and going out, there is a lot of paperwork to handle. You need to make sure that you have proper documentation of everything, so that tax time will be a breeze. The owner portal is one of the many benefits of doing business with Scott Properties. Scott Properties provides all owners with real time, 24 X 7 access to their personal itemized profit & loss reports. Owners
also have access to end of year tax forms and repair invoices through this same portal. These reports, statements, invoices and other documents are printable and assist property owners with completing their monthly, quarterly & year end bookkeeping and accounting. A required year end 1099 tax form can also be accessed through this owner web portal. Instructions on how to set up this web portal will
be provided at the time the management agreement is executed.
We understand that a dollar saved is a dollar earned. Scott Properties is responsible for the coordination of common home maintenance & repairs. Scott Properties has established an agreement with all the necessary contractors to ensure fast, reliable, and affordable repair services. Scott Properties contractors are licensed, bonded, and insured. Property owner approval will be required for all EMERGENCY maintenance & repairs over $250.00;; however, approval amount can be increased as requested by the property owner. To make the costs of repairs easier than ever for owners, exchanging money for needed repairs between owners and Scott Properties is never necessary. The cost of repairs will be deducted from the rent amount collected for the month.
When tenant rent payments are not received by the 5th day of the month, Scott Properties of Charleston will begin the collection process:
If payment isn’t received by the 6th, the tenant will be charged a late fee.
If rent payments are not received by the 11th day of the month, Scott Properties will charge the
tenant the second level of late fees.
If payment isn’t received from the tenant by the 15th of each month the eviction process will
Partial rent payments are not accepted in any form. Scott Properties is responsible for filing all eviction paperwork and attending court proceedings if necessary. The tenant will be charged a $125.00 eviction administrative fee which covers eviction filing fees, administrative cost and court cost. Scott Properties will always initially charge the tenant for all magistrate filings. If the tenant is evicted from the property and Scott Properties is unable to collect these eviction administrative fees from the tenant, $50.00 of the $125.00 will be moved to the property owner register.