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Charleston Property Management Companies | Best Place In South Carolina to Buy Rental Property

Charleston Property Management Companies

If you have checked out the real estate market in South Carolina, you will see that homes are not on the market for long before a family or young entrepreneur has made an offer and is asking for the keys to move in. Investors are clamoring to scoop up single-family homes since the population, especially in the coastal cities, has seen steady growth with no signs of slowing down. Charleston property management companies are fielding phone calls left and right asking questions about the schools, neighborhoods, and amenities ahead of new families moving into town. And while other cities may be experiencing something similar, Charleston has shown itself to be the best place in South Carolina to buy a rental property.

Why Charleston Reigns Supreme for the Rental Market

Charleston has some of the most diverse home options in the state with luxury coastal, beach-front homes, as well as downtown apartments, and single-family suburban homes. The average home value in Charleston is nearly $330,000 which means market rental rates will be high and could turn large profits for investors especially when combined with Charleston property management companies’ services. In fact, rental rates in Charleston have risen by three percent over the last year as incomes and the GDP in Charleston, South Carolina, have increased.

Charleston also has a steadily growing population with more people looking to get away from the big cities and settle down into relaxed, Southern suburban lifestyles. Charleston still embodies the antebellum South and is ranked the number one friendliest city in the United States. Charleston property management companies also get to boast about the premier school system, booming economy, and is home to The Citadel—one of the top military academies in the nation, and The College of Charleston which was voted Most Beautiful College Campus by a renowned travel magazine.

All these factors have led to a population boom as well as college graduates choosing to state and continue renting even after graduation. Many of these recent graduates will be looking to upgrade their lifestyles for more professional living arrangements which is why investors should be purchasing single-family homes to rent now before property prices increase even more.

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 Company in Charleston | How to Make Sure Tenants Pay Rent on Time

Property Management Company in Charleston

Even the best property management company in Charleston can struggle to make sure tenants pay their rent on time each month. Getting rent payments on time is one of the most important tasks a property manager must perform for owners. When a property manager is consistently depositing rents late, the owner can have a large financial burden and the property manager may end up losing their job as a result.

There are a few ways that every property management company in Charleston can help to ensure rent is paid on time each month.

  1. Rent Is Clear- Your lease needs to clearly say the rental amount and when it is due, as well as any grace periods offered.
  2. Screen Tenants- Your tenants should have an income of three times the rent amount to be able to afford living there. When you are screening tenants request at least three back paystubs and make sure to verify by calling the employer. You should also consider the amount of time they have been employed by their current job.
  3. Online Rent Portal- When a property management company in Charleston can offer tenants online rent payments, they are more likely to be paid on time because of the ease and convenience. Online tenant portals can also be set up to deliver maintenance requests, communicate with the property manager, and receive notifications about events, neighborhood alerts and more.
  4. Reminders- When a tenant is a day late, make sure to send them a friendly reminder. If the office is going to be closed the day rent is due, or for a long holiday weekend, make sure a drop box is available for rent payments. Reminders can be sent via text, email, or through the online rent portal. However, a paper copy that is signed and dated by the property management company in Charleston also needs to be delivered.

If you are tired of dealing with late rent and tenants that do not pay consistently, call Scott Properties in Charleston and see how we can help manage your rental properties at 843-790-4929.