Local Property Management in Charleston, SC,
Is Crucial for Success!
There are many ways in which rental property management partners can stand out—but when it comes to your needs for property management in Charleston, SC, you need a local expert to maximize your rental's potential. Property managers who cover too wide of an area may struggle to be able to not only discover but apply all local knowledge about the Charleston market to the properties in their care. Instead of selecting based on a one-size-fits-all management approach, select a local who lives, works, and plays in Charleston to reap the following valuable benefits as a landlord with investment properties here on the beautiful South Carolina coast!
Tenant Screening Taken Seriously
Tenant screening is a delicate art in any area—but it has its localized qualities, as well. When a tenant offers property managers from past rental properties as references, a local property manager is more likely to "place the place" and name associated with those references. Your renters also benefit from the placement services of local property management. When they come from out of state to look for their next home in Charleston, a local property manager makes finding a new "nest" easier than ever!
It's also worth noting the benefit of local understanding to other application elements: your tenant's application will include things like credit history and possibly job-related references. Being a local can help you make sense of these pieces of information. A regional property manager will understand that it isn't a red flag to have left a job recently if they know that the company has recently shut down, for instance. This is a very real issue facing many landlords right now in the wake of COVID-19 as they struggle to safely screen new applicants.
Lastly, finding great tenants is dependent on knowing where tenants go to look for their next rental home. Yes, there are national websites that draw a lot of traffic. Still, each zone of South Carolina may have specific methods that maximize your visibility, from local neighborhood websites to actual bulletin boards and publications with classified ad sections. Making sure your property manager really knows the area is one way to reduce turnover and make the placement process easier!
Expert Insight Into the Rental Rate
Setting a rental rate on your own can sometimes be a little nerve-wracking when you aren't a real estate expert. If you don't yet have a feel for the pulse of Charleston's rental market, you may feel like you are overcharging or undercharging.
- If your rental is priced too high, you may not get enough tenant applications to find a great tenant.
- If your rental is priced too low, you're leaving money on the table and may get a lot of applications from tenants who ultimately don't have the ability to pay market rate. This leads to turnover down the line.
- Finding the in-between often means working with property management in Charleston, SC, that knows the market well.
If you're renting, for instance, a single family home in North Charleston, you want to know whether the market is currently full of available rentals or whether most of those homes are owner-occupied (which makes the rental market heat up!)
- A property manager helps you see where your particular rental properties fit into the bigger picture of the housing market.
- They help you know when—given lots of supply and low demand—it's best to discount your rent a bit to respond to market forces.
- They also know when it makes sense to moderately raise the rent because you're simply not in line with the rest of the market—and there are plenty of people willing to pay the new price.
Rental property owners nationwide often know some portion of the market—but when you have professional property management, you've got access to insight that provides a comprehensive picture of the Charleston market. The right property management in Charleston, SC, can even help you know when you've found a great neighborhood that is about to grow in value! If you're looking to grow your portfolio long term, this knowledge may even guide some of your future investments in rental properties.
An Understanding of Local Law
While every landlord would prefer to find any red flags during the tenant screening process, it's a sad fact that a very small portion of rental contracts will end in eviction. While you can't completely avoid the possibility of eviction just through screening alone, having tried-and-true policies in play can certainly make a difference. Pair that with a comprehensive understanding of rental law in Charleston and Mount Pleasant, and you'll quickly see why local property management holds significant benefits for you as the landlord!
Property management services include understanding how to avoid the path to eviction in the first place! There are often better strategies a property manager can employ because they have the experience. When you've worked with a large volume of renters, you learn to spot warning signs and red flags that property owners miss. If tenants struggle to pay rent on time—or don't pay rent at all—they know how to enact a fair, legal, but firm plan to ensure that rent is paid. If your renter continues to neglect their end of the lease, your property manager can also guide you through the eviction process.
While it is frustrating to handle everything from property damage lawsuits to eviction court, your property manager who has been through the process here in Charleston is an excellent resource during this time! At Charleston Property Company, we handle legal problems and issues concerning evictions for you. We tackle the necessary “Quit” notices and provide tenants with the appropriate time to move out. If that doesn’t happen, then we file all the paperwork to start the eviction proceedings—so you won’t need to worry about anything.
Maintenance Made Easy
When you move to a new place, it often takes you months or even years to find a highly trustworthy, professional, and prompt person to handle each of the systems that need routine maintenance and repairs in your home. From landscapers to electricians, plumbers to roof repair, you want to have a dedicated list of great professionals. This is no less true for your rental home! Unfortunately, there are some Charleston repair and maintenance workers who won't keep up the bargains they strike with you. That's why a network of vetted, high-quality vendors is so valuable!
While a big-box property management company can call up any local contractor they find on Google, a local property management company in Charleston, SC, represents a valuable addition to your rental toolkit when they know excellent vendors personally. Over time, property managers who offer continued work for great local repair teams can get fast service, reasonable rates, and consistent results. These results are hard to replicate on a one-off basis, or through just calling the next number on the list of online maps results.
Of course, like any big city with small-town charm, there are some features we share with the rest of America. One of these traits is that, like many Southern cities, your local reputation matters! In Charleston, you are only as good as your word in many people's books. Part of why Charleston Property Company has the strong reputation we do is because we've delivered value to our landlord clients while keeping tenants happy, safe, and in excellent housing! We strive to add our expertise to whatever phase of the property life-cycle your rental is in.
Whether you're searching for a first tenant and need help with screening, looking for a new rental rate because you aren't sure of the market, or need guidance on how to handle repeated lease violations, we're here for you! We also pass along the savings that come from working with property management when we take on your property repairs and maintenance.
Get to know the many benefits of property management in Charleston, SC, that we haven't listed here! Peruse our free resources or get in touch with us to learn more.
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