Rental properties are a great way to build wealth. And if you work hard to grow your portfolio, you can generate enough money to fund your retirement or quit your job.
But when you start getting late night calls or extended vacancies, managing a rental becomes very hands-on.
It’s then that many landlords realize that they need help in the form of a property manager.
If you’re unsure about whether to hire a property management company in Atlanta, check out these 7 reasons income property owners invest in a property manager.
7 Common Reasons to Hire a Property Management Company in Atlanta
1. Better Tenant Screening
There’s a lot that goes into screening tenants for your rental property. And if the market is booming, there’s a good chance you’ll have tons of application submissions.
But with multiple tenant applications, it can be difficult to decide which tenant will be a good fit for your rental property.
If you hire a professional property management company in Atlanta, like Atlanta Property Management, you can rest assured they will find the right tenant for your property by:
- Performing detailed background checks
- Following up with all personal and professional references
- Checking in with previous landlords
- Verifying employment and income
- Running a thorough credit check for creditworthiness
Also, a good property manager will understand the current federal, state, and local laws. This way, you can ensure there’s no discrimination during the screening process. The last thing you want on your hands is a lawsuit because you didn’t follow the Fair Housing Act.
2. Skillful Advertising and Property Marketing
Successfully marketing a vacant rental property takes skill and experience.
Advertising your property goes beyond needing to place a tenant and collect rent. You want to promote your property to the highest quality tenant pool possible. This way, you can charge premium rent, place a well-behaving tenant, and generate a profit each year.
A property manager will know how to write compelling descriptions that encourage people to consider leasing from you. They will have a professional photographer to take high-quality pictures of your rental. There will also be an easy way for prospective tenants to submit an application or schedule a showing.
Lastly, your property management company will have access to all the top advertising channels, including social media, company website, the MLS listings, Craigslist, etc.
3. Easy Rent Collection
Collecting rent each month from your tenants is the way you make money. But collecting rent can be difficult if you don’t know what you’re doing, or you try to do it on your own.
Property management companies in Atlanta have streamlined procedures for:
- Outlining in lease agreements how rent collection works
- Collecting rent from tenants, including online portals, drop-off boxes, and in-office staff collections
- Reminding tenants that rent is due soon
- Knowledge about how to notice a tenant when rent is past due
- Experience is starting the eviction process should a tenant not pay rent
Getting a rent check from your tenant every month in person is time-consuming. Confronting a tenant that is late with rent is awkward. Starting the eviction process in Atlanta without breaking the law is challenging.
If you hire a property management company in Atlanta to handle rent collection for you, you’ll avoid the hassles that come with the collection process.
4. You Own a Distant Rental Property
You don’t have to own rental property that is near your house to be a successful landlord. But the farther away your property is, the more difficult it becomes to manage it on your own. This is especially true if you collect rent in person, deal with maintenance, or perform property inspections.
Hiring someone to help manage your distant rental will save you time. It will also assure you that your tenants are being well-cared for by someone that is nearby.
5. Top Rent Rates
The whole point of investing in rental property is to make money. That’s why it’s important you set a high enough rent rate to generate a profit.
The problem is, many landlords don’t know how to set the right rent rates for their investment properties.
This can lead to two things:
- Rent that is set too low that doesn’t cover expenses
- Rent that is too high and either drives current tenants to leave or drives away potential tenants
Having an experienced property manager on your side that understands the current market will help you get the highest rental rate possible. It will also help keep your tenants happy.
At Atlantic Property Management, our goal is to boost your ROI and keep your tenants happy. To do this, we start by offering you a FREE rental property assessment. This way, you can see how much rent you can expect to receive from a high-quality tenant today.
6. Dealing with Maintenance and Repairs
Unless you’re handy by nature and want to make maintenance and repair house calls, you should consider hiring a property manager.
Here are some of the benefits of letting a property management company handle maintenance and repairs:
- Save yourself the hassle of having to make emergency house calls
- Trust that high-quality, affordable, and licensed contractors are doing the work
- Take advantage of the vendor relationships your property manager has forged over the years
If you choose a qualified property management company to deal with your property’s maintenance and repairs, you can expect first-rate work and lower costs.
7. You Want to Save Time (and Money)
Many people begin investing in real estate so they can escape the daily grind of having to work so hard. That said, if you self-manage your property, you’ll find yourself spending more time dealing with your rental than you want.
This can become difficult, especially if you have a day job. Not to mention, the time spent managing your property takes you away from your family and friends.
Are you interested in having us manage your Atlanta income property for you?
Contact Atlantic Property Management today and see how we can free up some of your time by managing your property.
We offer timely maintenance and repair responses and efficient rent collection procedures. Plus, we have experience dealing with eviction, legal, and maintenance issues related to your income property. In addition, we strive to keep you and your tenants happy.
If you’re looking for high-quality tenant placement, an increasing ROI, and some more time on your hands, hire Atlantic Property Management today so you can make the most out of your investment property.