What Does a Professional Charleston Property Manager Do for Multi-family Investors? - Article Banner

Charleston property management typically includes leasing, managing, and maintaining rental properties on behalf of investors. When we manage multi-family investments, the work is a bit different than it is when we’re taking care of single-family homes. 

Apartment buildings and other multifamily properties have more than one tenant. That means there’s more communicating, more maintenance, and more potential for conflicts and disputes. Your property manager will market vacant units, screen tenants, moderate disagreements between neighbors, schedule repairs, and track all the income and expenses involved with your building as a whole and each individual unit. 

Here’s what you can expect as a multi-family investor when you work with a Charleston property management company that has experience with these types of rental homes. 

Handling Property Management Tasks 

Every property management company is different, and the scope of services will depend on who you choose to work with and what you negotiate as the expected services. 

However, when you’re hiring a management company to care for your multi-family property, you can absolutely expect the following services:

    • Rent Collection. Your property manager will collect rent from every tenant. They’ll follow up with late rent and if necessary, send the appropriate notices if rent is late.
    • Lease Enforcement. Property managers make sure the lease is understood by tenants and followed. 
    • Maintenance. All routine, emergency, and preventative maintenance should be handled by your management company. This includes being responsive 24 hours a day if a tenant has a flood, fire, or other urgent situation. Most routine repairs will be reported online so there’s a written and documented record of what’s needed. Preventative maintenance at your multi-family property should include pest control, landscaping, HVAC servicing, roof inspections, and ongoing checks for leaks, electrical issues, and problems with appliances and common areas. 
    • Landlord and Tenant Laws. You can expect your property manager to understand everything pertaining to state, local, and federal laws. This includes the Fair Housing Act and other discrimination laws. Your management company will know how to collect and return security deposits, what should be included in a lease agreement, and how to protect you from risk and liability. 
    • Accounting. Your multi-family property will require routine accounting statements and financial reports. Your property manager can track all of these, provide an accurate and transparent account of your income and expenses, and provide a complete 1099 at tax time.
    • Tenant Relationships. A property manager will be the first and single point of contact for all the tenants in your multi-family building. You won’t be bothered with complaints, disputes, or question from residents. 

Benefits of Working with a Multi-family Expert

property management professionalWhen you’re looking for professional Charleston property management, make sure you choose a company with experience in multi-family properties. The right property manager can increase what you earn on your rental properties. Vacancy rates will be lower, tenant retention will be higher, and you can be sure your rental value is right at market rates so you’re not leaving money on the table.  

Property managers with experience in multi-family units can also manage your tenants better than a company that typically manages single-family homes. We’re called upon to respond to tenant complaints, take phone calls at all hours of the day and night, and manage disputes between neighbors about parking, pet waste, and noise. 

You need peace of mind for your multi-family Charleston investment property. We can provide that. 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.