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Learn how 6,000 new units in Q1 2025 will affect your rental property and why you need to act now to avoid vacancies.
The real estate market in Charleston is about to change. In Q1 2025, we’ll see around 6,000 new apartment units hitting the market. This is an 8.3% jump in inventory, which is a big deal. If you're a landlord or property investor, it’s time to take notice. This shift means more competition for your property.
In the past decade, Charleston’s apartment inventory has grown by 57%. That’s from just over 47,000 units to more than 75,000. But there’s good news. Charleston is also one of the top ten job growth markets in the nation. People are still moving here, and demand for rental properties will stay strong.
What does this mean for you as a landlord? With 6,000 new units coming to the market, you’ll need to stand out. These new apartments will have all the latest features: shiny appliances, updated floor plans, and tons of amenities. If your property isn’t up to par, it will get lost in the shuffle.
“The longer your unit sits empty, the more you lose.”
The competition will be fierce, and it’s not enough to simply offer any apartment. You need to offer a property that’s better than the rest. It’s all about the details: clean, modern, and ready to move in. If your property isn’t in top shape, renters will overlook it in favor of newer options.
How can you stay ahead? The key here is marketing your property the right way. You need to get your property in front of the right people quickly so you can get more leads and inquiries. This means using effective online marketing, great photos, and pricing your units right. And don’t forget about your leasing team—they need to work quickly and efficiently to close deals.
If you’re unsure about how to market your property, now is the time to get help. The beginning of the year can be slow, especially in January, February, and March. You don’t want to be stuck with a vacant property during these months. The longer your unit sits empty, the more you lose.
Don’t wait for the new units to hit the market. Make sure to get your property ready and priced right. If you need help with marketing, filling your units, or just want advice on how to stay competitive, reach out. You can call or text me at (803) 727-7256 and I'd be happy to help you strategize on how you can sell and market your property the right way.
