Marketing and advertising your property.
An experienced property manager will know exactly where to list your property and how to craft compelling advertising materials. This is a significant advantage when it comes to finding the highest quality tenants to fill your properties quickly and avoid long vacancies. Focusing only on Atlanta’s in-town communities, we have a deep appreciation of each neighborhood’s character and understand what calls prospective tenants to be drawn to a specific area.
Setting the right rental rates.
Looking through Zillow to compare what other landlords are charging for nearby properties is a fine way to ballpark your rent price, but a good property management company will conduct a thorough market study and draw on their own local experience to set a rental price for your property. With a portfolio spread across all of the in-town communities, we have rich, unpublished data on which we draw to maximize your rental income and minimize your periods of vacancy.
Finding the right tenants.
Experienced property managers are experts at finding good tenants and will take care of all the details, conducting thorough screening that includes criminal background and security checks, running credit reports, verifying employment and collecting previous landlord references. The right tenants will maximize the revenue potential of your property.
In addition to finding good tenants, a property management company will manage all aspects of the tenant-landlord relationship. The property manager will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.
Collecting and depositing monthly rent payments on time.
If you've ever worked in a billing department, you know that securing payment from clients can be difficult, not to mention awkward. Property management companies have efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments. You'll find this particularly important if you have a limited number of properties and collecting payments on time is crucial to maintaining your cash flow.
Managing vendor relationships.
Property management companies have relationships with maintenance workers, tradesmen, contractors, suppliers and vendors which are almost impossible for an independent landlord to duplicate. Not only will your property manager get you the best work for the best price, they'll oversee any necessary maintenance projects.
Ensuring that you're in compliance with housing regulations and property laws.
There are a multitude of applicable laws and regulations to abide by when renting and maintaining your rental property. These include local, state and federal regulations, as well as fair housing regulations (such as the ADA). A property manager can help you avoid lawsuits by keeping your property up-to-date and in compliance with these regulations.
Enabling you to invest in geographically distant properties.
If you manage your own properties, you may feel limited to investment opportunities within a certain proximity to where you live. By hiring a property manager, you can take advantage of investment deals in any location you wish.
Maximizing the value of your time.
By having a property manager take care of the day-to-day aspects of running your income property, you're free to spend your time identifying further investment opportunities or otherwise furthering your career.
Maximizing the profitability of your property investment.
Most property managers charge a percentage of your property's monthly rental rate in exchange for their services. The rate typically runs anywhere from 6-10%, which is generally less than the money you save by hiring a professional to take care of your property.