property management charleston sc

10 Things You Need to Know About Property Management in Charleston, SC

Rental income is an excellent way to enhance your earnings, but dealing with renters can be tricky. If you aren’t careful, all of your profits can go to repairing after unruly renters or dealing with renters who refuse to pay. That’s why property management Charleston SC trusts can be advantageous.

Many rental property owners think that managing their properties themselves is a great way to save money. But, often, what seems like a good idea becomes a very bad one. And property owners find themselves in over their heads and in the red.

Hiring a property management company in Charleston, SC is the best way to enhance your income if you hire the right company.

These are ten reasons why you should hire someone to manage your rental property in Charleston, SC.

1. They Perform Due Diligence

When you are renting out your property, it is extremely important to vet your renters to ensure that they not only pay, but that they also have a proven history of renting without incident. Doing a background check is critical, but it might not be enough. A property management company will not only look at a renter’s background on paper, they will check on references and make sure that they know who will be renting a property. That way, they reduce the risk that problems will arise.

2. They Perform the Repairs

When things break down or malfunction, it is the property owner’s responsibility to fix and repair them. But when you hire a property management company, they get the phone call when something isn’t working so that you don’t. That not only means you aren’t bothered with little things, it also means you won’t pay as much for service calls. Property managers work with contractors regularly, so they receive a discount on repairs. The best part? Those savings get passed along to you!

3. They Handle Things When They Go South

Not only do you have to worry about renters not paying on time, when things go south, there is a long and drawn out process to evicting someone. Property management companies deal with the potential legal situations that can arise when a renter doesn’t come through. Why waste time attending hearings and going through the legal process, which is costly and time-consuming, when you can rely on the property management company you hire?

4. They Handle Walk-Through Procedures

Before you have anyone rent your property, it is important to walk-through the rental to pinpoint any problems that exist so the renters can’t claim that any damage was there before they moved in. But that can be a timely process. And if you don’t handle it correctly and have everything in writing, you will be out of luck to collect for damages after the fact. A property management company will perform a walk-through with new tenants so that you aren’t ever left cleaning up or paying for something you shouldn’t have to.

5. They Handle Rent Collection

One of the biggest hassles with rentals is non or late payments. When your tenants don’t pay, you don’t get paid. But when you hire a property management company, it becomes their responsibility to hunt down payment and to ensure that you get your rental income!

6. They Have a Pool of Existing Tenants

Often property management companies have a pool of qualified renters who are looking for properties. That means that you have an increased chance of getting your rental property rented quickly upon vacancy. So, you won’t have a whole lot of downtime where no one is paying for the expenses of your rental.

7. They Handle all the Legal Aspects

There are a lot of legalities that can leave rental property owners vulnerable. And if they aren’t taken care of properly, that can leave you exposed to some pretty serious consequences. A property management company has a legal team who understands the complexity of rental liability and a legal team to make sure that you aren’t left vulnerable to some huge losses.

8. They Do Regular Inspections

A whole lot can happen to your rental property if you aren’t paying attention and checking in frequently. A property management company will make frequent inspections to ensure that everything is working in top shape. They can also reduce the risk that you have renters who aren’t taking care of your investment and can act quickly to minimize loss.

9. They Perform Regular Maintenance

Regular maintenance is required to ensure that everything in your rental is working optimally. And it also reduces the risk that things will need to be replaced before they have to. But making those maintenance calls can slip by pretty quickly and are one more thing that you don’t need on your plate. A property management company will take care of the regular maintenance that is required to extend the life of your appliances and other things in your rental property.

10. They Do the Advertising

Advertising is critical to renting your property and keeping it rented so that there is no downtime. But it can also be an additional expense that can really add up. A property management company has the resources to advertise your property, when necessary, at no additional cost to you. That can be a huge savings, especially when renters come and go frequently.

Rental income is an excellent way to enhance your earnings, but it is a lot more difficult than many property owners understand. When you hire a property management company, they take care of the headaches so you don’t have to. They also have the expertise to handle legal issues and to reduce the possibility that you are left legally vulnerable to some significant financial problems.

Why waste your time and resources taking care of things you don’t have to when you can hire Sea Turtle Properties to make sure that your investment is safe and continues to add to your bottom line.

Contact us today to discuss how we can increase your rental revenue by hiring us for your Charleston property management.