Looking To Increase Your Rental Rates in Hilton Head, Bluffton or Savannah?
– By Kevin Quat
Four years ago, if you asked me where I thought long term rental rates would be for the average two-bedroom villa, I would have said 15% higher than they are today. I would have suggested this based on how rental incomer from 2012 was trending year over year. I would have been wrong. My team has tracked the market rental appreciation and it has shocked us all, in some cases up 40% from 2012 levels. Given a short supply of available rental properties, coupled with active business growth (in part due to the Chamber of Commerce and the publicity of Hilton Head and Bluffton on various mediums), we have seen a tremendous increase in rental rates. But not everything is rented. Why is that? Why are some investors not able to achieve the most rent for their properties? Why do some properties sit vacant or rent poorly?