The real estate market appears to be stabilizing. Many homes that have been on the market for awhile are selling. And many new listings that hit the market are selling relatively quickly. That said, there is still a large supply of homes in certain price ranges and areas of Greenville and Spartanburg. Many sellers are still having trouble selling their homes.
One market that appears to be booming right now in our area is the rental market. At South Carolina Home, we are having 100% success in getting our homes rented to great tenants in a 2 to 4 week period. It appears that other property management companies are experiencing similar results.
However, when we talk to many people about our property management services, many owners have misconceptions about the rental business. Here are a few of the more common ones.
1) Tenants don’t pay on time
2) Tenants don’t take care of the home
3) Rental homes require constant repair and maintenance
4) Rental homes are small inexpensive homes in the less favorable parts of town
5) It is difficult to manage a rental home in a different city
While all of these misconceptions can be true at one time or another, our experience with rental management, and more importantly our clients’ experiences with it, has been very positive. Many of our clients have been very successful financially and successful in solving job transfer, property or tax problems by renting out their homes.
Here is a quick summary of our rental management business. We have very few issues with late payments, and our inspections of our clients’ homes reveal that our tenants take very good care of the homes and yards (in some cases neighbors tell me that some of our tenants take better care of the home than the owners did when they lived there). Most of our owners do not have maintenance and repair issues and will go for months without having to think about their rental home. They simply receive a check each month. Most of our rentals range from $1000 – $2000 per month, but we have rented homes up to $3000 per month. We have rental homes in some great neighborhoods and great school areas (many around Roper Mountain and Woodruff Roads and the Eastside Area of Greenville). We have had clients who live in other areas of the US and even a couple in Germany and Pakistan.
A trend that we are seeing right now is for investors to purchase homes to lease, and we are serving several clients like this right now.
If you are having trouble selling or know someone that is, please share this article with them or send them to our blog
. It is very likely that within a month we can have a great tenant who will take care of their home and pay the rent on time.
(The author, Aaron Cole, is the creator of HomeSOLDin60TM
, a proven process that guarantees a home seller the best price in the shortest time. To learn more about SCHC 60-day Guaranteed Home Sale program, visit www.HomeSOLDin60.com
or contact an SCHC agent at (864) 322-1220.)