How to Know When It's Time to Hire a Charleston SC Property Management Company
It's a common debate for many real estate investors in Charleston SC: do I need a property manager, and when is the right time to hire one?
Entrusting the care of your rentals to professional property management in Charleston SC, is a big decision. If you've managed rentals on your own for a while, turning them over to an "outsider" can make any investor nervous. It's tough to turn over control—even if you're ready to get your free time back and earn more passive real estate income from your investments.
However, with the right property manager, there's no need to be anxious. The best property management company handles everything for rental property owners while boosting income. If you're not sure it's the right time (or "if" you need a property manager at all), ask yourself a few questions to analyze your situation and goals.
Do You Have the Time?
Managing profitable rental properties is a time-consuming venture. Balancing your full-time job, rental properties, and life outside of work and real estate can become overwhelming.
Many investors enjoy the income from one rental property. Adding more properties delivers more income—but it also comes with a lot more work! If you don't have the time to manage multiple properties effectively, it's time for a property manager to help you maintain a healthy work-life balance.
The best property management in Charleston SC, helps investors regain their free time. You can focus on your career, family, friends, and weekends filled with activities you love. Your property manager handles every aspect of rental and renter management while you enjoy the income!
Do You Struggle To Keep Good Renters?
High vacancy rates can be a side effect of not having enough time to devote to properties and residents. When investors struggle to keep up with property maintenance and prompt responses to renters, residents won't stick around for another lease term.
Improving renewal rates starts by finding and screening excellent residents—but that's not all it takes to encourage Charleston SC renters to stay. Property owners must manage renters well to create an environment where they feel safe and comfortable. Being responsive, delivering prompt repairs, and building positive professional relationships are critical aspects of excellent renter management.
When you don't have the experience to devote to these strategies, you'll struggle with high vacancy rates. Dealing with renters requires patience, the right resources, and time. Partnering with the best property management in Charleston SC means you have a professional with the right experience (and time) to manage renters well and reduce turnover.
Do Your Maintenance Skills Fall Short?
It's okay if you cannot handle every maintenance task (or emergency) on your own. Unless you're an experienced maintenance professional, most Charleston SC rental property owners don't have the time, tools, or experience to handle preventive maintenance or repairs for a rental property.
Plus, making multiple trips to the hardware store and using online tutorials to fix common maintenance issues probably isn't the best way to spend your evenings and weekends. The right property management in Charleston SC:
- Has access to skilled (and vetted) professionals for every maintenance task
- Delivers prompt, quality repairs (the first time)
- Is available 24/7 to respond to renter emergencies
- Conducts routine, year-round maintenance to prevent expensive issues
- Helps investors save money on costly repairs to boost ROIs
Professional maintenance helps rental property owners retain quality renters and improve property values. Don't struggle through repairs on your own when a property manager can save time and money with professional maintenance services!
Does Lease Enforcement Stress You Out?
Enforcing the lease rules and dealing with difficult renters are two issues that create stress for real estate investors. While a thorough screening process helps property owners avoid terrible residents, even good renters can break the rules and turn into challenging situations sometimes.
A property manager handles lease enforcement for you—including eviction when appropriate and allowed by the law. Real estate investors never have to deal with residents who don't pay the rent or cause property damage. We handle every troublesome resident and lease violation for you!
It's Always the Right Time for Professional Property Management in Charleston SC
Despite having the best intentions and a solid work ethic, many investors find that they don’t have the time or energy to tackle everything that comes with being a real estate investor. However, hiring the right property management in Charleston SC, doesn't require you to give up control of your rental properties. We're simply here to do the work it takes to meet your financial goals through real estate investments!
Charleston Property Company comes alongside rental property owners to keep them involved while we do the work to grow your business. If any of these situations apply to you, reach out to us today! Let's help get your investment portfolio—and income—back on track.