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Property Management in Lexington SC | What Must a Lease Include?

Property Management in Lexington SC

The lease is the most important part of a rental relationship between tenants and property management in Lexington SC. The lease is a legally binding agreement that both tenants and landlords, owners, or property managers must abide by. The property manager is responsible for creating and enforcing a lease so ensuring that everything needing to be covered is included in this legally binding document is vital to protecting everyone’s rights under the law.

Lease Check List

Some leases are pages long while others are only a few paragraphs. The more detailed your lease is, the better protected owners and property management in Lexington SC will be when it comes to landlord-tenant laws and regulations. Use this checklist to ensure your lease is comprehensive and legal.

  • Lease term
  • Security deposit amounts
  • Rental due dates
  • Penalties for missed or late rent payments
  • Names of all tenants and occupants
  • Property manager responsibilities including repairs and maintenance, pest control, lawn care, etc.
  • Pet policy
  • Deposit return policy
  • Policies on noise, guests, HOA dues, smoking, painting, updates, or other reasonable restrictions on use, damage, home cleanliness, home inspections and other rules.
  • Tenant responsibilities such as obtaining renter’s insurance, having utilities turned on in the tenant’s name, keeping those utilities on, and other responsibilities.
  • Penalties for lease violations
  • Expectations regarding communications between staff and tenants
  • Policies on lease renewal
  • Policies on eviction process
  • Contact information for the property manager.

One thing that a property owner can do to ensure that a lease is legal and employable is get advice from their lawyer. Contractual attorneys specialize in leases and other contracts involving property and business arrangements. Many times, you can partner with a legal expert through a property management in Lexington SC company to ensure your lease is detailed, comprehensive, and inclusive of everything you need to protect all parties involved in the agreement.

If you are ready to partner with a property management team, call Scott Properties at 803-951-0702.

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Property Management Companies in Columbia SC | How to Tell the Good from the Bad in Property Management

Property Management Companies in Columbia SC

Investors who are looking for property management companies in Columbia SC are always looking for the company that will make them the largest return on their investment. Some investors will want to look for the lowest management fees, but they must always remember, you will get what you pay for. There are many property management options for investors, but there are ways to weed out the good vs the bad.

  1. What Is the Average Vacancy Rate? Ask the property management companies in Columbia SC you are interviewing what their vacancy rates are and the average time between renters on the average property.
  2. Are the Properties Comparable to Yours? You want to choose a property management company that has experience renting properties like yours. Do not choose a multi-family housing company to manage your single-family home.
  3. Ask About Vendors. Get a list of vendors that each of the property management companies in Columbia SC you are interested in work with so you can compare their reviews and reputations. Vendors such as maintenance crews, landscaping companies, and others will give you a snapshot of the quality of work that will be done to take care of your investment property.
  4. Compare Services. Property management companies will all offer different services and the pricing they offer will be based on those services. Make sure you are getting exactly what you need and want from a company before signing on the dotted line with one. You will want to work with a company that can meet all your expectations and keep your properties filled and well taken care of.
  5. Compare Reviews. Not only should you be checking out their vendors, but you also need to check out the reviews left on the property management company pages online as well. Do not forget to check Angie’s List, Google, social media, the company’s website, and Yelp.

There are a variety of property management companies in Columbia SC that work with many different types of investors. The best way to put your mind at ease when it comes to your rental properties is to hire the management company that fits you the best.

Give Scott Properties of the Midlands a call at 803-951-0702.

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Property Management in Lexington SC | What Does a Property Manager Do Between Tenants?

Property Management in Lexington SC

Employees in property management in Lexington SC are always extremely busy when homes are filled with tenants. Besides rent collection, a property manager must handle maintenance requests, vendors, property owners, and fielding phone calls from prospective tenants all day long. You might think a property manager will get a break between tenants when homes are empty, but this is often when things get even busier. 

Tasks that Property Managers Must While Homes Are Vacant

The last thing a property management in Lexington SC company wants is for a home to be vacant for long. The more days a house sits unrented, the more money the property owner is losing. Property managers need to do everything they can to make sure the home is ready to rent including maintenance such as:

  • Painting
  • Carpet cleaning
  • Deep cleaning
  • Fixing anything broken
  • Replacing flooring
  • Lawn and garden maintenance
  • Replacing air filters
  • Drywall repairs
  • Odor removal
  • And more!

While the property manager is not the one doing these tasks typically, they do have to oversee the maintenance team to ensure everything is done to company standards. Besides this process, property management in Lexington SC company focus is always on marketing and renting. Property managers will need to be listing the property as available online, putting a sign in the front, fielding phone calls, showing the home when ready and scheduling those appointments, meeting with vendors, and sending reports to owners.

Property managers also have a lot of loose ends to tie up with previous tenants that they need to worry about such as past due unpaid balances on accounts, return of security deposits when applicable, and ensuring that the move out process was completed.

The burden of these tasks and amount of time they take to complete is the top reason investors hire a professional property management company to manage their rental homes.

If you are interested in property management services, call. Scott Properties of the Midlands at 803-951-0702.