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Rental Property Management Midlands | Why You Should Buy Property in Midlands (Scott Properties)

Rental Property Management Midlands | Why You Should Buy Property in Midlands 

Rental Property Management Midlands | If you’ve been looking to invest in rental property on the coast but aren’t sure where the best place to buy your property is, look no further than Midlands, South Carolina. More than 700,000 people live in the thriving Midlands Metropolitan Area and the housing market has been competitive and looks to stay that way into the future. Now is the best time to buy an investment property and let rental property management in Midlands help you rake in the extra income every month. Check out these reasons to invest in Midlands. 

  1. Property Values- When you purchase an investment property you want the home to increase in value and rental property management in Midlands companies are seeing an increase of 8.4% in some home values just in the last year. The average price of a home in Midlands is around $299,000 while is an almost $50,000 increase from the average home price in 2015 according to Zillow estimates. Real estate values have also appreciated nearly 32% in the last ten years, and appreciation is higher in Midlands than 70% of other cities in the United States. 
  2. Rent Values- People will pay a pretty penny for homes in Midlands because of it’s prime and historic location. In 2018, the median rent in North Midlands for a single-family home was $1,850. The Midlands Metro area had an average rental rate of $1,650. 
  3. Rent Market- Roughly 49% of adults in Midlands are renters, and the median age of a citizen in Midlands is 36. This is advantageous for property management in Midlands because most of the people in this age demographic will be small families looking for detached homes with three to four bedrooms. These families are likely to want to rent, especially when the median income in Midlands makes buying a home unaffordable for some families.

Now is the time to dive into a rental property in Midlands and a property management in Midlands company like Scott Properties can help your investments earn you the extra income you’ve been looking for. Contact Scott Properties at 843-352-8341.  

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Midlands Property Management | The Hippest Neighborhoods in Midlands (Scott Properties)

Midlands Property Management | The Hippest Neighborhoods in Midlands 

Midlands Property Management | The under 35 population is renting rather than buying homes, which are great news for Midlands property management companies because single-family home rentals are more popular than ever before. If you’ve been wondering about the best neighborhoods to start your rental property business, just check out the hippest neighborhoods in Midlands to see where you should buy a property. 

Harleston Village- College students, recent graduates, and academic types love living in Harleston Village because of it’s proximity to the College of Midlands. Harleston is also pretty swanky and affluent with large houses, streets lined with mossy oak trees, and antebellum architecture. 

Wagener Terrace- Located on the downtown peninsula, Wagener Terrace has a hip, cool vibe with many local bars, gastro pubs, restaurants, and many amazing parks. Bill Murray even owns a restaurant in this part of town which he sometimes hangs out at. If you want to rent a house in a neighborhood with all the best food, Midlands property management can help you find the perfect property in Wagener Terrace. 

Avondale- On the west side of the downtown peninsula in the West Ashley region of Midlands is a cool neighborhood known for its trendy bars and restaurants. Avondale is full of young professionals and small families, artists, boutique stores, and the West Ashley Bikeway—an almost 8-mile stretch that residents can walk, run, or bike on through downtown and the other neighborhoods in Midlands. 

Mount Pleasant- This coastal neighborhood is nearby downtown and the beaches and is known for its excellent public school system and family-friendly environment. Many of the people who live in Mount Pleasant have lived there for generations and is a conservative neighborhood. 

The Islands- One of the most popular places to live in Midlands are the islands. The neighborhoods on the island are pricy but elegant and the only oceanfront public schools in the continental US are in Sullivan’s Island. 

If you’ve recently bought property in one of these neighborhoods and need Midlands property management to help you rent your home, call Scott Properties at 843-790-0148.

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Rental Property Management Midlands | Residential Leasing Terms That Every Property Manager Should Know (Scott Properties)

Rental Property Management Midlands | Residential Leasing Terms That Every Property Manager Should Know

Rental Property Management Midlands | One of the most important traits a property manager must have is knowing the right leasing terminology so that rental prospects trust that the property manager knows what they are talking about. If a renter asks the property manager what a term in the lease means, the property manager needs to be able to explain the term clearly. Here are a few terms we think you should know that you might not already. 

Fixed Term Lease- A fixed-term lease is for a specified period. These leases are usually for 6, 12, or 18 months, but some leases could be longer. Most will end on a specified date and have the option of becoming a month-to-month lease, or you’ll be offered a chance to renew your lease or vacate. 

Grace Period- Some leases will include a grace period stipulated in the lease for paying rent late without penalty, or for other things such as being able to back out of your lease after you sign one. 

Guarantor- A guarantor is also called a co-signor and is a person who guarantees that if the renter is unable to pay their rent, the co-signor will be responsible for paying. A guarantor is usually needed when the applicant cannot meet the rental criteria on their own. 

Periodic Term Lease- This type of lease automatically renews at the end of the term for the same amount of time as the original lease. If the lessor or lessee wishes to break the lease or not renew, they will have to provide notice before the lease is up. The lease will specify exactly how far in advance both parties will need to give notice. 

Sublease- The property manager may allow a property to be sublet under certain conditions. A sublet is when the lessee has to vacate the property before the end of their lease term, but someone else is available to take over the remainder of the lease. If the person subleasing the home does not pay rent, the original renter is often responsible. 

If you’re ready to hire a property manager that understand a lease like the back of their hand, call Scott Properties at 843-790-0148. 

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Midlands Property Management | Protecting Investment Properties From Flood Water (Scott Properties)

Midlands Property Management | Protecting Investment Properties From Flood Water 

Midlands Property Management | A property manager in Midlands, South Carolina, must be aware of the protections they must take against floodwater in rental homes. Hurricane season can often be rough on Midlands, and heavy storms can damage investment properties that a property manager needs to look after. Luckily, there are a few things that a property manager can do to protect your investment home from damage. 

  1. Maintain the Gutter System- Gutters collect the water from the roof and channel it away from the home so that your roof does not become waterlogged. Gutter maintenance is the single best way to avoid roof leaks and damage. Add downspout extensions to move water further away from your home and prevent basement flooding. 
  2. Educate Tenants- A good property manager needs to make sure the tenants living in the home are educated on what to do in the case of flooding. Their first step should be to shut off the gas and electricity to reduce fire risk and electrocution. Make sure tenants know the emergency maintenance number and that someone is available to answer those calls, especially during storm season. 
  3. Inspect- The property manager needs to inspect the home periodically, and even more often in storm season, for leaks, cracks, and other flood damage risks. Roof leaks and foundational seal cracks should be fixed as soon as possible. 
  4. Sump Pumps- Every rental property should have a basement sump pump. Sump pumps can also be installed in the low points in your driveway and carports. You can even put sump pumps in your landscaping to keep water from logging in your gardens and yard. 
  5. Flood Equipment- Every property manager should have access to wet/dry vacuums, large circulating fans, mops, and buckets. If your property is flooded chances are others in the area will be too, and water cleanup companies may be swamped. The property manager needs to be able to deploy a maintenance team to start the cleanup. 

If you’re interested in working with a knowledgeable property manager for your home, call Scott Properties at 843-352-8341.