Meridian Residential Group was founded because of the frustration we felt in finding good property management in Charleston. We’re investors, too, and there’s nothing worse than being overcharged for services you aren’t even receiving.
If your property managers say they’re going to perform inspections – you should see routine inspection reports. If they say they’re going to collect rent on time – you should get a deposit consistently every month. If they say they’re going to be proactive about communication and then they don’t return your calls – well, it’s time to fire that property manager and find a better residential real estate partner.
Here are some of the things that your property manager should be doing for you. If you’re not getting this type of value, consider looking for a new Charleston property management expert.
Protecting Your Charleston Investment
We know everything that happens at every single property we manage. Your property management company should be giving your rental homes the same attention. This requires good relationships with tenants, routine inspections, prompt maintenance, and ongoing communication.
Some of the larger management firms have trouble forming relationships and really getting to know the properties they’re leasing, managing, and maintaining. There are just too many of them. Smaller companies and boutique firms may give you the personalized service you need, but they don’t have the resources and the tools to provide expert service.
We have managed to strike the perfect balance. We’re large enough that we have all the technology, tolls, and resources necessary to expertly manage your home. But we’re small enough that we know every tenant, every owner, and every property. If your management company can’t provide that, consider moving on.
Losing Money with Charleston Property Management
A good property manager will help you earn more and spend less on your investments. If you’re losing money on your rental homes, you should absolutely fire your property manager and look for help elsewhere.
Many owners become frustrated when they feel they are overpaying for mediocre property management services. If you’re seeing extra charges for maintenance in your statements and you have no evidence that the work has been completed, you should do some investigating. If you’re being nickeled and dimed by your management company and paying extra for things like technology, paperwork, and accounting – you should find someone else to work with.
Your property manager needs to increase the value of your investment by making recommendations on improvements and updates as well as rental increases. You should expect lower vacancy and turnover rates. Make sure you’re getting all the value you expect in exchange for those management fees.
Property Management Industry Leadership
During the COVID-19 pandemic, a lot of rental property owners realized their management companies were not up to the task of handling an unexpected emergency. We were able to conduct business as usual at Meridian because we are flexible and agile. Our systems and processes allow us to pivot based on changes in the industry and the local economy.
If your property manager hasn’t invested in the technology, the people, and the systems to protect you and your investment even during a global crisis, you need to re-think what you’re getting from that company.
When you’re thinking about transitioning out of your current property management relationship and into one that does a better job of meeting your needs, contact us at Meridian Residential Group.
Meridian Residential Group in North Charleston provides both single-family and multi-family property management in the Charleston, SC area, including in North Charleston, Summerville, Goose Creek, and Moncks Corner, among other cities.