● Greenville, South Carolina · Est. 2016Owners · Tenants · Guests · Maintenance
    Plenteous

    For reference

    Glossary, sources and credits

    By Dan D’Ambrosio, Founder, Plenteous; Broker-in-Charge, Plenteous Management. Fourth quarter 2026 edition · Updated · Sources reviewed

    The words you will use

    A short glossary

    Assessment ratio
    The share of taxable value assessed: generally 4% for an eligible South Carolina legal residence and 6% for a rental.
    Millage
    The rate per $1,000 of assessed value; 290 mills means $290 per $1,000.
    Net operating income
    Rent less vacancy and operating costs, before debt payments, major replacement funding and income tax.
    Cash after funding
    Operating income less principal and interest and planned replacement funding; the guide’s owner-budget measure, before income tax.
    Principal and interest
    The loan repayment and financing charge. Excludes taxes and insurance collected through escrow.
    Reserve
    Accessible owner cash for interruptions and future work. A balance held, not an additional expense merely because it is set aside.
    Capital replacement
    Major work such as a roof or equipment replacement. Plan its funding separately from routine upkeep.
    Equity
    Property value less secured debt. Selling costs and possible taxes reduce the cash a sale releases.
    Comparables
    Similar properties used to estimate rent or value, adjusted for condition, location and other differences.
    Vacancy allowance
    A budget for rent not received while the property is empty.
    Make-ready / turn
    Preparation between tenants; a turn includes the wider cycle of vacancy, preparation and reletting.
    Rental-income coverage
    Insurance that may cover lost rent after a covered loss, subject to the policy’s terms, limits and exclusions.
    Fair housing
    Requirements against unlawful housing discrimination, including applicable accommodation duties.
    Assistance animal
    An animal that may qualify for a disability-related accommodation; it is not treated as a pet under the applicable rules.
    Adverse-action notice
    Required notice when a consumer report contributes to an unfavorable rental decision; see Chapter 11.
    Security deposit
    Money held under the lease, with lawful deductions and return governed by statute. See Chapter 15 for the deadline triggers.
    Ordinary wear
    Deterioration from normal use and aging, distinguished from damage beyond normal use.
    Ejectment
    The court process for recovering possession. Notice, service and enforcement requirements matter; see Chapter 13.
    Tax basis
    The amount used for tax calculations, starting with acquisition cost or another required value and adjusted for items such as improvements and depreciation.
    Depreciation
    A tax deduction recovering the eligible cost of property over time; land is excluded. Sale consequences can follow.
    Home-sale exclusion
    A possible exclusion of gain subject to ownership, use and other tests. Moving out affects the five-year use window; see Chapter 8.

    Evidence behind the guide

    Notes and sources

    Official references reviewed November 4, 2026.

    1. 01House-price historyFederal Housing Finance Agency, All-Transactions House Price Index for Greenville-Anderson, via the Federal Reserve Bank of St. Louis. Selected second-quarter observations, 1995-2026.
    2. 02Property-tax treatmentGreenville County Real Property Services: legal residence eligibility, assessment ratios and the school operating-tax exemption.
    3. 03Historical millageGreenville County Auditor, 2025 Millage Sheet. District examples are identified by their published district numbers.
    4. 04Sale of a former homeInternal Revenue Service, Publication 523, Selling Your Home: ownership, use and other exclusion conditions.
    5. 05Rental depreciation and basisInternal Revenue Service, Publication 527, Residential Rental Property: depreciation, conversion basis and limitations.
    6. 06Rental income and expensesInternal Revenue Service, Topic 414: reporting rental income, expense categories and loss limitations.
    7. 07Depreciation when a home is soldInternal Revenue Service, Property (Basis, Sale of Home, etc.) frequently asked questions: depreciation allowed or allowable and gain on sale.
    8. 08Landlord and tenant dutiesSouth Carolina Code, Title 27, Chapter 40. See sections 27-40-410 (deposits), 27-40-440 (landlord duties) and 27-40-710 (noncompliance and rent).
    9. 09Recovery of possessionSouth Carolina Code, Title 27, Chapter 37, Article 1: ejectment, service, response and enforcement.
    10. 10Assistance animalsUnited States Department of Housing and Urban Development, Assistance Animals: reasonable accommodation and supporting-information guidance.
    11. 11Tenant-screening reportsFederal Trade Commission, Using Consumer Reports: What Landlords Need to Know, including adverse-action notices.
    12. 12Lead disclosuresUnited States Environmental Protection Agency, Real Estate Disclosures about Potential Lead Hazards: duties for most pre-1978 housing.
    13. 13Insurance and rental useNational Association of Insurance Commissioners, Renting Out Your Home? You Need Insurance Coverage for Home-Sharing Rentals. Discuss the specific intended use with your carrier.

    Named owners are composites; names, locations and details are changed. Budgets, repair prices and equipment-life ranges are planning illustrations, not quotes or guarantees. The loan examples assume 360 remaining monthly payments and full repayment over that term.

    This guide is general education. Apply current rules and address-specific figures with the appropriate adviser. Company figures are supplied by Plenteous. South Carolina brokerage license 54873; Broker-in-Charge, Daniel D’Ambrosio. Fourth quarter 2026 editorial revision. © 2026 Plenteous LLC.

    Upstate, in view

    Photography & credits

    Plenteous Management: the home at dusk and the completed home shown in this guide. Plenteous brand mark and the original color photograph of the home at dusk: plenteous.com.

    The Wikimedia Commons photographs above retain their credited licenses.

    This guide is general education. Apply current rules and address-specific figures with the appropriate adviser.

    All chapters

    Part one / The foundations

    What you are really getting into

    The opportunities, the responsibilities, and the preparation that gives you choices.

    1. 01How a rental builds wealth
    2. 02A small business, with people in it
    3. 03History helps. It does not promise.
    4. 04Get a great team
    5. 05Learn the house and the rules
    6. 06The market decides

    Part two / The numbers

    Make the numbers yours

    A worked budget, three financing scenarios, a difficult year, and two worksheets for the decision in front of you.

    1. 07What a rental actually pays
    2. 08Two tax questions to settle early
    3. 09Rent it or sell it?

    Part three / Running it well

    Running it well

    The life of a tenancy in the order it happens, the owner’s calendar, and the page to open when something breaks.

    1. 10Before anyone moves in
    2. 11Choosing the tenant
    3. 12Maintenance
    4. 13When the rent does not come
    5. 14Renew or turn
    6. 15Move-out
    7. 16Taxes, briefly
    8. 17The owner's year
    9. 18When something happens
    10. 19Should you manage it yourself?