Is It Time to Hire a Charleston Property Management Company?
Many property owners go back-and-forth about whether they want to hire a Charleston property management company. Some investors just feel more comfortable maintaining full control over everything that goes on with their properties. Others enjoy the rental business and their daily interactions with renters. However, it’s still possible to maintain your control as an investor with a property management company by your side.
When Charleston property owners choose full-service property management, they find they have more time to spend with their families and to devote to growing their business. If you’re not sure whether you want to hire professionals to help you manage your rentals, you can check the following list of things many property owners struggle with.
If one or more apply to you, reach out to the experts here at Charleston Property Company to relieve stress and increase the return on your real estate investments!
You Don't Have Time to Devote to Managing Your Properties
Juggling one or more rental properties while maintaining a healthy work-life balance is a daunting challenge. It’s no wonder many property owners have a hard time getting enough time with their families and friends!
If you find yourself running out of time as the day finishes—even though you spent most of it putting out 'fires,' managing maintenance issues, or dealing with small details—it may be time to talk to a Charleston property management company.
Furthermore, even if you have the time to manage your properties, do you have enough left over to manage your business? Often, key growth opportunities get overlooked because a Charleston property owner spends so much time addressing rental issues they currently have and not enough time investigating the possibility for expansion.
If that’s the case with you, a property manager can give you the extra time you need to make the most of your business.
You Have a High Vacancy Rate
Finding, screening, and placing renters is a finely-tuned process. Like all skills, it takes time to attain proficiency. It takes even more time to master the fine art of attracting and holding the right residents.
The right Charleston property management company has staff with years of experience perfecting the acquisition and retention of renters. If your vacancy rate is a little too high for comfort, a property manager can help you find not just paying residents but the right ones.
In this way, property management services can also help increase your return on investment (ROI). The fewer empty units you have—whether single-family homes, condos, or duplexes—the higher your monthly income.
As property managers help keep your investment properties filled, they often pay for themselves—several times over.
You Don’t Have the Time—or Patience—to Handle Renter Issues
When your phone rings, and it’s a renter, how do you feel? If you’re anything but excited, you may want to consider hiring a Charleston property management company.
- Every renter comes with unique needs, desires, and tastes. It can be a significant challenge to keep up with what each of your renters wants.
- On the other hand, with a property management company, you get a team of professionals well-versed in how to respond to renters’ needs and concerns.
- They know what makes renters tick and how to react in the best way and at the right time. Also, even though you may have a busy schedule, property managers are able to allocate time each day to make sure renters have what they need to stay happy.
You Can't Professionally Manage a Maintenance Request
It’s easy for maintenance issues to get out of control—even for a conscientious, hardworking property owner. In addition to normal wear and tear issues, emergencies—small and large—pop up unexpectedly and quickly turn into time vacuums.
With a property manager, your maintenance can be handled for you.
- A property manager has access to skilled professionals.
- They are able to hire the right person for a job the first time.
- In this way, they also save you money, boosting your ROI.
When You Have to Evict a Renter
The eviction process can have a significant impact on both your schedule and emotional well-being. It’s even more challenging when the government imposes eviction restrictions.
- With a property management company on your team, you can allocate the process to the pros.
- They have years of experience handling both evictions and filling units after an eviction.
Further, with a property manager, you don’t have to get your hands and knees dirty cleaning out after an evicted renter. The cleaning and the rest of the transition to the next renter can be taken care of for you—or prevented in the first place with the right tenant screening process.
The life of a property owner in Charleston can get hectic quickly. Despite having the best intentions and a solid work ethic, you may find you don’t have the time or energy to tackle all the 'little things' that come with being a real estate investor. If any of the above situations apply to you, reach out to Charleston Property Management Company today! Let's help get your investment portfolio—and income—back on track.