What is the trend with rental homes in the Mt Pleasant area? As many as there seem to be, are they renting

Asked by Carole Clegg, Mon May 12, 2008

around $1700 or are people battling to find good tenants? We are in a great neigborhood with plenty of amenities and our home is in good condition. Just dont want to give it away for sale in today's market.

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Alan Langsto…, , 29466
Fri Nov 7, 2008
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As of 11/7/08 there are approx. 23 rentals in the CTAR MLS ranging between 2 bed, 1 bath, 986 sq ft condo to 3 bed, 2 bath, 2600 sq ft single family and the odd 4 bed property available in the $1600 to $1700 range.

There are approx 78 properties in the wider $1500 to $2000 per month range.

There are also the properties that are available privately and independantly advertised on sites like craigslist.com
Web Reference:  http://www.langstoneteam.com
0 votes
John Richard…, Agent, Charleston, SC
Thu Dec 17, 2009
Single family homes are renting in Mount Pleasant in the $1700 range. Overall occupancy rate is 73% of those rental properties listed on the local MLS. That includes condos and single family houses. Obviously with the flood of condominium properties on the market, those are the slowest to rent.

The key is price and condition, just as it is for properties that are listed for sale. If your home is in good condition compared with the others closeby for rent, it will rent.

However, as Lee mentioned below, you need to calculate the cost of holding the property and what it will take to put it back in "sale condition" if you are considering selling. Unless you want to be in the rental business, I would price it right and sell it now (that is if you are considering selling). If you are considering renting, choose a great property management company to handle it, rather than trying to do it all yourself.

Visit my website: http://www.TheCharlestonRealEstateAgent.com. Give me a call and I'll be delighted to help you choose a company if you really want to rent it.

Johh
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Steve Young, Agent, Mount Pleasant, SC
Fri Jun 26, 2009
The amount you are asking seems to be in the ball park (depending on house size, may even be low). I personally own 23 rentals, many in Mount Pleasant and have found them fairly easy to rent. Interestingly, I am also seeing a demand for furnished rentals. Amenitized homes/neighborhoods are more in demand than non-amenitized so thats in your favor as well.
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Lee Keadle, Agent, Charleston, SC
Mon Nov 10, 2008
Renting is a good option for home owners that are not able to sell their home in this market. This is often used as a way to close the gap on the holding cost and delay the sale of a house for a better (seller's) market. I have two properties that I am doing the same thing with. One needs to calculate one's holding cost first to see if it isn't better to just sell in the current market with the reduced sales price.
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Carole Clegg, Other Pro,
Fri Nov 7, 2008
Posted this in May - what is the rental demand like now in November heading into the new year? Are there even more available houses for rent. Did a quick search and did not find too many in Mt Pleasant in the 1600 to 1700 price range? cc
0 votes
Alan Langsto…, , 29466
Tue Aug 26, 2008
Hi Cc,

As an update for your post, the rental market in Mount Pleasant is moving pretty well for homes in the 1500 - 3000 sq ft and $1300 to $2500 per ranges.
Web Reference:  http://www.langstoneteam.com
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Bob Brennaman, Agent, Mt Pleasant, SC
Thu Jul 10, 2008
JL,
There are many people renting. I have several of my own properties with tenants in them and it has worked out so far. I think a good option if you move here is to look for a lease-purchase type deal. Best of luck -- Bob Brennaman Jr.
0 votes
Maureen Cody, , Charleston, SC
Mon May 12, 2008
Thank you for your question. The amount of rent you could get for your home will depend on several factors: activity in your neighborhood, sq ft of your home, upgrades and features....etc. I would love to do a market research for your home to give you an idea of what you might be able to rent your home for.

The status of the market, so you are aware, is that with so many homes on the market for sale, many owners are also open to renting -- seeing which happens first - the sale or the rental. Thus, it is causing the rental market to also have high inventory.

I live in Mt Pleasant and my Century 21 office is on the IOP connector. If you'd like for me to do some research for you, just let me know. 843-323-1013 or email maureen@maureencody.com

I'd love to hear from you.
Web Reference:  http://www.screlocate.com
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