With large population growth and a booming job market, there’s a reason why the renting market in Charleston, SC, is so strong. While renting your home can feel like a daunting task, CREC Property Management makes it as simple a process as possible.
Here are a few reasons why renting can be a good choice for you!
Monthly Cash Flow – Passive Income
When renting your home through CREC, perhaps one of the most exciting benefits is the passive income each month. This income requires very little effort to maintain. If you consistently rent out your home for more than your mortgage payment plus other expenses, this profit will grow over time. If you are in a situation where that wouldn’t be the case, owners can turn to annualized tax benefits, real estate appreciation, and refinancing opportunities to make up for any shortfalls.
The IRS allows you to deduct many expenses connected with rentals in categorized or necessary expenses, improvements, and depreciation.
The following are considered ordinary and necessary expenses:
- Advertising costs
- Leasing commissions
- Property management fees
- Repairs and maintenance
- Property taxes
Fool Proof Retirement Fund
Owning a rental property is a commitment to maintaining a safe investment. Life is short, we get it, so discipline to save and continuously put money into retirement accounts is not always appealing. A rental property can help you build larger returns in equity and cash flow, unlike an IRA or 401k.
Have We Convinced You Yet? Let Us Take Care Of The Dirty Work!
To maintain a profit, you will need to keep quality tenants in your property and minimize vacancies. Fear not, CREC takes this worry right off your hands. At CREC Property Management, we perform an extensive and thorough tenant screening process on all applicants over 18 moving into your home. From a detailed review of their rental history to a criminal background check, everyone is properly checked to ensure your comfort.
CREC takes care of everything from home evaluation, marketing, finding qualified tenants, negotiating the lease, maintaining constant communication, inspections, and maintenance. Reach out to us today at (843) 574-9100 or email us at [email protected]