All Forum Posts by: Joel Good

Hi Frank - I started a PM company in Charleston last year.  Feel free to PM me if I can provide you with more info or be of service.  

@Chad Seay

Happy to talk to you about PM services if you are looking for that on a Charleston rental. I've had an investment property in town for five years, and just sold in order to free up capital to start a PM firm. Have assembled a great team, and manage properties in the same successful manner that I managed my own rentals. Flat fee / no nickel and diming / top notch service for both owners and tenants.

@Wei Li

I would agree that Charleston is in need of a correction. Perhaps not a bubble...but prices do seem too high for a city and economic base of this size. The market has clearly slowed in recent months. If you are shopping right now, I would give it at least six months to see where the trends go. Buying in Charleston right now is a mistake, IMO. There are some deals to be had...but not many of them.

@Ahmad Kakar

Many of the charges that you have listed seem to be somewhat standard. However, I personally disagree with 'standard' and just recently started a PM company with a simple, flat fee of 10% of gross monthly rent. That fee covers everything and anything. I see no reason for any add-on charges. The flat commission is compensation enough for PM work.

Looking for insight on how to handle a situation. I recently started a property management company in South Carolina. Just picked up a client who is about to leave the country for a few years. She has rental house with tenant and lease already in place. The lease is specific to the owner (as landlord), and the tenant.

What is the best way to proceed from a legal document perspective? Can/should the existing lease be tweaked to include me as PM? Can/should the owner assign any rights as landlord to me?

The lease as currently specifically states that rental payments are to be wired to the owner's bank account. That needs to be changed to my escrow account. Also, my legal standing seems to be quite limited (perhaps even nonexistent) with the current lease. These are a couple of issues that I am trying to overcome.

Any thoughts/input would be greatly appreciated! I'm assuming this is not a new or unique situation...would guess that someone here has crossed this bridge before.

Is there a way for non-Facebookers like myself to RSVP?  Sorry to be a pain...would like to attend, but don't have access to the event page!

Hi Henry - thanks for the post, and allow me to make an early welcome to Charleston!  I'm very familiar with the metro area, and am happy to help provide feedback on this opportunity.  I'm around this week - feel free to get in touch if you'd like to discuss live.

I just started using Buildium...very robust system, has a few different pricing options and easy to scale as you build your portfolio or management business.  Also has good financial statement module that a lot of other/cheaper options don't seem to have.

Would love to help with this.  Just sent you a connection request.  Thanks!

I recently opened a PM firm in Charleston, SC - we perform interior inspections every six months and exterior viewings monthly. No extra charge for the Inspection - it is part of our 10% management fee. All inspections are documented electronically, and uploaded to owner portal for immediate review.

We appreciate the 'while you're here...' conversations with tenants. Would prefer they tell us things rather than hide them. Granted, not everything on the tenant's list can or should be addressed, but we like to know as much about the property as we can.

I have my own investment properties, and would be dissatisfied with a PM that wasn't performing regular inspections. They are absolutely necessary.