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Rental Policies Essential to be in Your Lease | Property Management Companies in Columbia SC

A lease is the most important and essential component to renting your single-family home. The lease is a legally binding document that outlines the rental amount, due dates, and obligations of the landlord and tenant. Having a lawyer or experienced property management companies in Columbia SC involved in creating your lease is always a good idea. Property managers are experts in leasing and can let you know the policies that are most essential to protect owners and the property. 

Most Important Lease Policies for Property Management Companies in Columbia SC

  • Fees- There are more charges that tenants are responsible for above and beyond rent; however, these fees must be outlined in the lease to be enforceable. Fees could include municipal garbage, bulk waste, or recycling fees, late fees, lease violation penalty fees, charges made to the deposit such as cleaning fees post move-out, pet fees, and more. 
  • Overnight Visitor Policies- Long term overnight visitors can quickly end up becoming roommates which can put your tenants over the occupancy limits in the lease. Too many people living in a house and not being on the lease is a problem property management companies in Columbia SC are familiar with and we always recommend having clear occupancy policies for visitors and tenants. 
  • Exterior Upkeep- Lawns, sidewalks, porches, patios, decks, gardens, garages, and other exterior areas of the property require upkeep from mowing and weed pulling to keeping these areas free from trash and debris. Outlining responsibilities of the landlord and the tenant in the lease for these areas is important to maintaining the curb appeal of the property. 
  • Renewal and Termination Policies- The last thing you want is for a tenant to move out unexpectedly and be stuck with unplanned costs to clean, market, and lease the property. Adding policies that outline how to properly terminate or renew a lease will protect your investment financially. Make sure to consider how far in advance tenants must renew or give notice of moving out, any early termination fees or late renewal fees, and what the move out procedures should be. 

These four policies are essential to have in each property lease; however, there are many other factors that are very important. Partnering with property management companies in Columbia SC is a great way to ensure your leases are legally binding, protect your property and investment, and increase your return on investment. 

If you’re ready to talk about your property management options, give Scott Properties a call at 803-951-0702.

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Battling the Top Reasons Why Tenants Want to Move Out | Property Management Companies in Columbia SC

One of the most important tasks property management companies in Columbia SC do for their investor clients is making sure great tenants don’t leave. When tenants pay ontime, keep the property clean and cared for, and don’t have any complaints, the most dreadful thing that can happen is non renewal of their lease and moving out. The best tenants are super hard to come by, and sometimes there is no way to convince a renter not to move, including when their job changes or they have personal reasons to move. However, there are a lot of ways you can increase resident retention and make it more likely for tenants to stay in place longer. 

How to Overcome Tenant Move Out Requests 

There are a few common reasons why tenants might want to move that will allow you some flexibility in changing their minds:

  • The House is Too Small- If tenants are expanding their family by having a child or wanting to have roommates, the rental home might not fit their needs any longer. Property management companies in Columbia SC can simply offer a lease transfer when this is the case! Work with the tenants to lease another property by the same owner or company so you aren’t completely losing out on the revenue from those tenants. Pre Leasing an upcoming property, or even allowing tenants to break their current leases early when transferring in-house can be a win-win for everyone. 
  • We Don’t Like the Schools- If the tenants are wanting to have kids, or their kids are starting school, they may start looking for a new home in a different school district, or closer to their school of choice. When this happens the best option is to ask them to transfer into a rental property near the school they want and offer them options that allow them to keep renting from the same property management companies in Columbia SC. 
  • No Longer Affordable- One of the toughest objections to overcome from tenants is when they can no longer afford the rent. You shouldn’t lower your rent to accommodate your renters, however, you can help them to see the great value they have by staying in their home. Moving costs, paying a new deposit for rent and utilities, and the loss of certain amenities such as on-site laundry can end up costing a tenant more than if they had stayed in the home and renewed their lease. 

Property managers often have great sales skills that help to increase retention among the tenants that you want to renew again and again. Working with a property management company can streamline your business and help you see a larger return on investment. Call Scott Properties today to find out how we can help you. 

Contact Scott Properties at 803-951-0702.

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Property Management Companies in Columbia SC | Should Tenants Be Allowed Swimming Pools?

Property Management Companies in Columbia SC

One of the toughest decisions property management companies in Columbia SC must help owners make is whether to allow renters to set up swimming pools in the backyard. In South Carolina, some homeowners keep their pool going all year round and renters in single-family homes often want to enjoy their own private swimming pool as well. However, swimming pools can be a significant risk for property owners and there are several factors that you will need to consider with property management companies in Columbia SC.

Why You Should Let Tenants Have Swimming Pools

There are two reasons to let tenants have swimming pools—to make your property more attractive, and to charge more in rent. Depending on the type of renter you are targeting, swimming pools can be an effective draw for communities where you can increase rent for the luxury amenities. Swimming pools are hit and miss with families who might think the pool is a safety hazard; however, younger millennials and generation Z renters will love swimming pools with decks they can entertain on in the backyard and they will be willing to pay extra for it.

Why You Should Not Let Tenants Have Swimming Pools

The property management companies in Columbia SC will warn you that allowing tenants to have swimming pools can be a risk. Not only can swimming pools to a lot of damage to the yard, lawn, and property if they overflow or leak; they can put you at legal risk if an accidental drowning happens on the property. When the tenant moves out, they may not take down the pool ahead of time and the property maintenance crew will have to find a way to deal with it and restore the lawn beneath.

If you are considering allowing renters to have swimming pools, it is best to purchase rental properties that already have swimming pools installed. This way you know that the installation is done properly, the swimming pool will add value to the home rather than diminishing it, and professional pool maintenance can be called as needed.

If you need a property manager who can help you navigate the tough decisions, call Scott Properties at 803-951-0702

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Residential Property Management in Lexington SC | Why Landscaping Companies Are the Best Vendors for Rental Properties

Residential Property Management in Lexington SC

Residential property management in Lexington SC depends on vendors to help them effectively manage all the properties under their care. Often, property managers have several different vendors on speed dial including disaster clean up companies, roofers, housekeeping, maintenance men, and others but the vendor all property managers need to partner with is a landscaping company.

Why Property Managers Need Landscaping Companies

Residential property management in Lexington SC needs to have a reputation of beautifully maintained homes in order to be successful. Fresh cut lawns, landscaping, and curb appeal are important all the time, not just when the home is vacant. Landscaping companies can take the burden of outdoors maintenance off the shoulders of your regular maintenance employees and free them up to do indoor repairs and moveouts.

Landscaping companies have commercial grade equipment that makes lawncare easy and fast. Residential property management in Lexington SC becomes more efficient than ever when you can have all outdoor maintenance completed on a schedule and handled by a professional landscaping company you can trust. Contracting with landscapers is one of the best things that property managers who are managing multiple properties can do to ensure all homes are in tip-top shape and are stand outs in the community.

Tenants also appreciate when property managers make sure yards and landscaping are properly cared for. Keeping your property lush, beautiful, and maintained on the inside and outside is the responsibility of the person managing the property, but no one can do it all by themselves.

Landscaping companies will often give residential property management in Lexington SC discounts or deals on their services when bundled together for multiple properties. This helps keep costs lower and profits high for the investor who will appreciate your diligence in ensuring the property has a great return on investment.

If you need a property manager who can ensure your lawn and yard stay immaculate, call Scott Properties at 803-951-0702.

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Property Manager | Why A Property Manager Should Accept Online Rent Payments (SCOTT PROPERTIES)

Property Manager | Why A Property Manager Should Accept Online Rent Payments

Property Manager | Tenants have hundreds of excuses for why they can’t pay rent or can only make a partial payment. When you only accept cash, check, or money order for rent payments tenants find it easy to try to haggle their way into an extension on rent. When you accept online rent payments from tenants, they start to run out of excuses for why they can’t pay rent on time. There are certain excuses that online portals help to squash.

1. Money Related Excuses- Tenants will tell you dozens of different stories about why they didn’t have the money for rent. From other bills being too high to a child or family member falling ill, or the government being late on payments, a tenant that doesn’t have the money will want you to empathize. Online portals help tenants to manage their money better because they can make small payments throughout the month to try to get ahead after their rent is paid and they can track their rent through their online account.

2. Transportation-Related Excuses- The check got lost in the mail. The money order got wet in the mailbox. My car broke down, and I couldn’t make it into the office. It’s snowing outside, and the roads are bad. Tenants who rely on someone physically taking their rent payment to another location can always use transportation as an excuse. Online rent payments make it easy for tenants to pay from the comfort of their home or even from their phone while on the go.

3. Confusion on Due Dates- Some tenants will tell a property manager that the reason they are late on rent is that they were confused on the due dates, rent amount, or any other fees that they owe. This is a common excuse for new tenants especially. Online rental portals can send reminders to tenants about when rent is due and how much the tenant owes. Paying rent online and having a tenant account eliminates confusion on the details of rent.

If you are ready to take your rental property business to a new level with a property manager that can manage rentals contact Scott Properties.