Charleston vs Nearby Cities
While the real estate prices in Charleston are substantially higher than the national average, they are often reasonable when compared to other cities along South Carolina’s scenic coastline. For instance, home prices in Folly Beach often start around $400,000, and the median listing price in this beach town is often around $700,000. Charleston is located about 10 miles to the north and offers a median listing price much closer to $300,000 most of the time.
These prices are a bit lower than those seen in cities like Mount Pleasant, but they’re significantly higher than real estate prices in North Charleston, Goose Creek and other cities located further inland. Renters can expect to pay around $1,500 per month.
Charleston Property Managers
Property managers in Charleston are responsible for pricing rental units and ensuring that they are attractive to tenants. This includes overseeing landscaping, painting and repair contractors in addition to communicating with tenants and collecting rent. Many managers will also handle marketing and screening when new tenants are needed.
Charleston Property Management Company Fees
Most property managers work for a percentage of the rent collected from managed rental units rather than a flat monthly fee. This management fee may go over 10 percent in some cases but is often closer to eight percent. Property owners must pay operational expenses in addition to this fee, and other charges may apply.
South Carolina Landlord/Tenant Laws
- Landlords can only charge a late fee if the fee is disclosed in the leasing agreement.
- When a tenant fails to pay their rent, the landlord is legally required to give them at least five days to pay the overdue amount or vacate the property before the eviction process is initiated.