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Midlands Property Management | Why Your Tenant’s Trust Matters

Midlands Property Management | Why Your Tenant’s Trust Matters

Midlands property management companies often think about how their vendors can be trusted and whether or not their tenants can be trusted, but some rarely think about the importance of their tenants also trusting them. If you own a Midlands property management company, you should consider how you can help your tenants trust you more, and we’ll explain why it is important.

How Midlands Property Management Companies Can Gain Tenant Trust

There are many ways that you can earn your tenant’s trust. One of the most important reasons for your tenants to trust your property management group is because it improves your landlord-tenant relationship. The more your tenants trust you, the less likely they will be to damage the property, pay rent late, or incur lease violations.

Here are a few things you can offer your tenants to increase their trust in your Midlands property management company:

  1. Charge reasonable screening fees- When renters are looking for a new place to live, they are going to be cringing at the expenses. New deposits, first-month rent, last month’s rent, pet fees, applications, moving fees—it all adds up quickly. When a Midlands property management company has reasonable upfront fees, tenants are much happier and likely to rent.
  2. Include Yard Maintenance- Many tenants choose to rent single-family homes because they don’t want the responsibility of owning a home. Including yard maintenance in the rental price is a great way to earn your tenant’s trust.
  3. Be Willing to Go Above and Beyond- The lease agreement outlines what the responsibilities of the landlord and tenants are; however, whenever a Midlands property manager can go above and beyond for their tenants, it shows that they care. Going above and beyond for your tenants also goes a long way in earning their trust and helping them feel comfortable coming to you with problems.

One of the best ways to ensure you have your tenant’s trust is to hire a Midlands property management company that is reputable and delivers results.

When you’re ready to partner with a management company, call Scott Properties –  843-790-4929

 

 

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The Importance of Vendor Credentialing for A Property Manager

The Importance of Vendor Credentialing for A Property Manager

Real estate investors love hiring property management companies because these companies come with maintenance crews and built-in vendor relationships that make property maintenance easy and convenient. When a property manager does the proper credentialing on their vendors, they can reduce risk and save a lot of time and hassle.

A property manager needs to be able to verify the criminal history of employees of the vendors, ensure the vendors are properly insured, as well as their quality of work and a financial estimate for their services. When vendors don’t carry the proper credentials or cannot answer your questions, you run the risk of poor workmanship, improper repair work, and fraud among other things.

What to Keep in Mind When Verifying Vendor Credentials

A property manager needs to verify vendor credentials before they hire a company to complete any work. You should also do yearly reviews on all of your vendors to ensure their quality standards are still the same, their rates are still competitive, and they’ve kept up with their licensing and insurance. You’ll also want to get updated rosters on employees, especially those who will be working on your properties. The vendors you work with should be honest and willing to tell you if anyone on their team has offenses on their criminal record that are not conducive to providing services for a property manager.

Following Up with Vendor Services

A great property manager will follow up with tenants after vendors’ services to ensure that the work was completed in a timely manner, that the vendors were courteous and respectful, and that the job was actually completed. You can learn a lot about your vendors by talking to your tenants and getting their honest reviews of the services provided. At the end of the day, it’s great if the vendor makes you happy, but what a property manager really needs is for the tenants to be happy and satisfied.

If you are looking for a great property manager in Midlands who works with the best vendors in the area, call Scott Properties – 843-212-9672.

 

 

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Property Manager | Is Investing in Single-Family Rental Real Estate a Good Idea?

Property Manager | Is Investing in Single-Family Rental Real Estate a Good Idea?

Making investments is a great way to protect your financial future for retirement or uncertain economic times. However, knowing what to invest your money in can be a challenging task. The housing market rises and falls it seems, and after the recession more than ten years ago, some people are still wary of investing in single-family rental real estate. If you ask any property manager however, this real estate niche is still growing, evolving, and seeing profits.

There are two major trends that the single-family rental niche has benefitted from. The first is the baby boomer generation selling their family homes and downsizing, leaving great properties for sale to real estate investors. Some of these baby boomers who have their mortgages paid off are even going into the property management business themselves and renting out their large homes. The second trend is the fact that millennials who grew up during the recession are wary of buying a home and experiencing another economic disaster, so they are looking for single-family homes to rent from a property manager.

Housing Market Forecast for Midlands 2020

The economy in South Carolina is great, with historically low unemployment numbers. However, the current trade war has made investors wary of another economic crash. Global markets including China and Germany have also slowed their trading, and interest rates have been in flux after the Federal Reserve raised its key borrowing measure four times in 2018 and then lowered in 2019. However, there is great news for the housing market.

Labor market predictions have remained stable and strong throughout the year, which is the biggest predictor of the housing market, according to top economists. There are more jobs than people to fill them, which means more workers will have to be brought in to fill positions, and those workers will need to rent a home from a property manager who specializes in single-family homes. All of this means that now is the perfect time to invest in a single-family home and a property manager that can maximize your return on investment.

If you’re ready to hire a property manager for your residence, call Scott Properties – 843-212-9672.

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Rental Property Management in Midlands | How to Find Cheap Investment Properties

Rental Property Management in Midlands | How to Find Cheap Investment Properties

If you’ve wanted to get into the rental property management in Midlands business, the first thing you’ll need to know is how to find cheap investment properties. Most investors who make the best return on their investment do so by getting the best deals on their properties and then charging a fair market rate for the rent. With home buying slowing a bit from previous years, now is a great time for investors to be able to make amazing deals on the homes people will love to rent.

Tips From our Rental Property Management in Midlands

One of the best ways you can save on your investment properties is to study the MLS data for your area. You will be able to see all the available homes for sale, filter by price, and other criteria, and get alerts for new listings. You can also “favorite” homes for sale and get alerts when they go down or up in price. Study your favorite homes, and if you see they’ve been on the market for six months or longer, you are in a great position to start making deals and get your rental property management in Midlands company started off with a great home for cheap.

You can also find foreclosures in the MLS, and while some of these homes are not great choices for single-family rentals in Midlands, a foreclosure can be a good opportunity if the amount to rehab the home won’t exceed the home’s worth when it’s all said and done. You should also check out trustee or county auctions to get the lowest possible price.

Homes are often cheaper outside of the metropolitan areas of Midlands and can be a great choice for first-time investors as well. There are many families that love the atmosphere of the smaller towns with easy accessibility to the Midlands Metro Region. Most rental property management in Midlands companies own a variety of properties in several neighbors to be able to meet the needs of many different families.

If you own a single-family home that you’d like to rent out, call Scott Properties – 843-790-4929.