Greenville Property Management Blog

Advice for Out-of-State Investors with Greenville Properties

Advice for Out-of-State Investors with Greenville Properties

Greenville makes an excellent investment market for out-of-state investors. There’s a lot of interest here from people all over the world, and when you’re an out-of-state investor, you need a local property management company that will be responsive, thorough, and able to share information with you transparently and accurate ly. 

When you have an investment home in Greenville but you live somewhere else, there are a few things that are absolutely critical in ensuring the success of your investment. 

Greenville Leasing: Property Showings and Tenant Screenings

It’s unreasonable to think you’ll fly or drive back to Greenville every time your rental property is vacant. You’ll need a leasing team that can handle preparing your home between tenants, making upgrades and updates while taking care of any maintenance issues, and marketing the home. You’ll also need someone to handle the showing process, whether it’s in-person showings or automated showings that allow prospective tenants to let themselves into the property and look around on their own time. 

Your local management company needs to be trusted to find the best tenant for the most amount of rent in the fastest period of time. Your property managers will collect applications and conduct tenant screenings. Talking to former landlords and verifying income will be difficult when you’re far away, so find a company you can rely on to thoroughly screen all applicants in accordance with federal law and South Carolina law. 

Protecting and Maintaining Your Greenville Investment Property 

If you’re trying to manage a property from hundreds or thousands of miles away, you’ll find it challenging to collect rent and enforce the lease. Emergency maintenance will be difficult to respond to. This makes it important for you to have a local management company that specializes in protecting rental homes like yours. 

Your property manager should inspect the home frequently for necessary maintenance and maintain a good relationship with your tenants. You need peace of mind and protection.  

When a resident calls with an emergency in the middle of the night or over a holiday weekend, your property management company needs to be prepared to respond. You won’t be able to call the right vendors or get over to the property from wherever you are living. Make sure there’s a process in place, and that you’ll be kept informed of all actions and costs. 

Communication and Accountability for Out-of-State Investors

Technology, transparency, and accountability are more important than ever when you’re an out-of-state owner. You won’t have the luxury of driving by your property from time, and it won’t be easy to meet with your property manager or your residents in person. You’ll have to rely on your online portal as well as consistent reports from your property managers. Make sure the company you choose is set up for this. You’ll need an online owner’s portal that allows you to track rental payments, view maintenance invoices, and look at condition reports and photos. You’ll want ease of communication and you’ll want to feel like you’re not missing any pertinent information, especially when it comes to what you’re earning and spending with your investment. 

We work with out-of-state investors all the time. Please don’t hesitate to contact us at Letts Property Management for help managing your Greenville investment property.