Rental property owners sometimes wonder if the best property management Charleston has to offer is "really" necessary. If you have the time and the handyman skills to be a DIY landlord, isn't property management just an expense that hurts your bottom line?
It might not be a bad idea to start that way—especially if you inherit a property, and you're trying to keep your overhead to a minimum. However, if you grow your real estate portfolio—or want to be sure you make money from an accidental rental property—managing properties on your own can become challenging and unprofitable.
When you realize everything that property management adds to your investment portfolio (and your profits), you'll understand it's the right move! Here's how the best property management Charleston has to offer helps property owners get more out of their properties, and how to find the right property manager for your needs.
Marketing for More
Getting more out of your investment properties starts with each property's first impression. When you work with an expert property manager, they market your properties in a way that generates the right amount of rent and attracts the best quality tenants.
Your Listing Leads the Way
You don't have to be a prolific writer to create a compelling property listing—but you do need to know all of the right elements to help the right tenants notice your property.
Without the professional experience of the best property management Charleston can provide, you could miss the important details or aspects of a property listing. These are the very features that help your property rent quicker and bring home the best tenants!
Your property manager:
- Does a thorough rental analysis to set the right rental price
- Creates a compelling listing that includes important property details, like square footage, the number of rooms and bathrooms, and details about the rental application and required fees
- Describes your property in a way to highlight the best features and attract the right tenants
- Uses professional photos to show off your property's best looks
After your property manager puts the final touches on your property listing, it's time to "sell" your property to your next tenants! It can be challenging to know where to post your listing—but your property manager knows where and how to get the word out.
With a compelling listing in all of the right places, you'll have a new tenant placed in your property sooner—with less vacancy time!
Before tenants can move into your rental property, you need to perform inspections and the Make-Ready Process. Every tenant needs a thoroughly sanitized and clean rental home—including completed repairs following the last tenant's departure.
Routine Maintenance Requires Preparation
In addition to getting your property ready for new tenants, your properties need routine maintenance to prevent significant problems. Just like your personal home, each of your rental properties needs regular upkeep. From seasonal HVAC maintenance to checking the roof and cleaning gutters, these tasks keep your property in excellent condition—and your tenants safe and happy.
Preventative maintenance tasks add up! Property investors need to budget money and time to keep up with a preventative maintenance schedule for every investment property. As your portfolio grows, a property manager is an ideal solution to schedule contractors, inspections, and routine maintenance to keep your investments in tip-top shape!
Emergencies Require Quick Action
If you're not available, who responds to a tenant that calls to report a broken pipe in your rental property? It's critical to set aside some cash to handle maintenance emergencies—but there's no way to plan for the timing of when they happen. If you're hard at work (even from home), your tenants are stuck with an emergency and no way to repair it. A significant maintenance issue can quickly become a more expensive problem without quick action.
When you partner with the best property management Charleston can offer your investments, you have a 24/7 maintenance response team. They take the call from a panicked tenant, then schedule a repair using a list of vetted contractors—right away. Tenants leave a rental property for a variety of reasons, but poor maintenance service is one of the biggest reasons why your renters won't renew.
With the right Charleston property management partner, property investors can concentrate on their career and then leave work behind to enjoy their family—without worrying that a maintenance emergency could derail your plans. Plus, property management maintenance services show your tenants a commitment to providing prompt responses and a safe rental property where they'll want to stay—lease after lease.
Managing Tenant Relationships Masterfully
Many property owners enjoy the benefit of passive income—but the "people" management isn't something they love. On top of the nuts and bolts of marketing your properties and providing excellent maintenance, being a landlord is a relationship business! However, not every tenant makes it easy to maintain a good landlord-tenant relationship.
Screening Sets the Tone
They say you can't pick your family—but you can pick your renters. Screening and choosing the best quality tenants is one of the most important aspects of being a successful investment property owner. It's true: your renter can make or break your rental property.
Without a good screening process, you could choose the wrong tenants. Bad tenants can look like good tenants during the application process—but once they live in your home, they become difficult. They fail to pay the rent on time or refuse to pay at all. Bad tenants cause damage to investment properties and don't follow the rules of the lease agreement.
- Your screening process helps you learn more about a potential renter during the application and interview process.
- Your screening should include credit history, employment and income verification, criminal background check, and confirming prior rental history and references.
- With that information, you can choose the best tenants for your properties! Selecting good tenants sets the tone for a positive landlord-renter relationship.
You Have a Buffer
Managing difficult tenant relationships is one aspect of a landlord's job that can turn people off from investing in more properties—or from keeping an inherited property and giving rental income a try.
Your expert property manager provides a buffer between your properties, your renters, and you. If you inherited a property and never thought of being a landlord, a property manager helps turn your unexpected property into profit for you—without you dealing with the details.
You can benefit from carefully screened tenants in your property without having to handle the screening process. You also don't have to handle tenant disputes or problems that can happen—even with the best tenants.
No tenant is perfect, but your property manager can help you keep your distance from the "people" aspects of generating investment property income!
Choose the Right Property Manager
We hope having a property manager sounds like a pretty good idea by now—but how can investors choose the best one? Your ideal property management, Charleston landlords, is the company that best fits your needs.
- Before signing a property management contract, make sure you do the research.
- Look for experts with a stellar reputation, quality services, local knowledge, and the technology to keep your properties competitive in this market.
Charleston Property Company offers a full range of property management services to support new or seasoned property owners! If you never planned to be a landlord, or you like the income (but not the work), we can help you enjoy investment property income without the need to DIY! Let's chat about your priorities, your properties, and your pain points to see how we can help.