Every landlord in Atlanta needs to work with a great property management company. Even if you don't require their services at the moment, you may find that you need them sometime in the future. You may hire a property management company for basic assistance in your Atlanta rental property or for full-service. Choosing a great property management company can be a challenging task but there are many qualities that you can consider about the company like their attitude, professionalism, and even how well they communicate.
Choosing the right property management company can help you to increase and maximize the income potential of your property. In case you are looking to sell your property in the future, the property management company will help raise the value of your property so that you benefit more from selling it. All property management companies are different and it is essential to choose one that will provide the services that you are looking for efficiently. Below are some factors that can help you when choosing a property management company in Atlanta.
Get Local Referrals
One of the ways to find a property management company for your Atlanta rental property is by asking around. You can ask your fellow landlords or investors which property management company can they are working with. If you are already in an investment group, you have the opportunity to network with other people in this group and ask them to refer you to a good property management company. However, you should be aware that everyone has different preferences and therefore you are not guaranteed to like the property management company that other investors like. It is also important to do your own research.
Consider Their Knowledge of the Area
To get the best services, it is important to choose a property manager that has enough knowledge of the area where your property is located. A good property manager knows the area they work in inside and out and understands what services and amenities tenants in this location prefer.
They will advise you on how you can improve your Atlanta rental property to provide better services than those offered by other competitors in the area. Choosing a property manager who is not familiar with the area where your property is located may cost you more money and you may lose business to competitors who are working with property managers who understand this area well.
Research the Company’s Policies
It is also important to find out the policies of the company and how efficient their services are. One policy you can ask about is the interaction between the property manager and the owner. Consider how you want to be involved in the property management process. Whether you want to be hands-off during the process or you want to have a high interaction with the property manager. This will guide you in choosing the right property manager because various companies have different policies about interactions with property owners.
Ask Some Questions about the Company
Before choosing the company that you want to represent your Atlanta rental property, there are some answers that you need to find out about the company. First, it is important to find out what their advertisements are like and how effective they are in attracting tenants to the property. Check if their ads match how you would want your property to be represented. Find out how long it takes for a house that they are advertising to get occupied, on average.
Other things that you should find out about the property management company include if they do background checks on tenants before they can rent the property, if they communicate and answer their phones on time, whether they have the license to legally manage your property, how comprehensive their landlord/lease agreement is, and how regularly they inspect properties. These questions are important because they let you know to whom you are entrusting your Atlanta rental property to.
After you have researched various companies that can represent your rental property, it is time to narrow down your search. Remain with a few companies that are highly recommended and those which you have confirmed from online reviews and other research that offer excellent property management services. Doing the research beforehand will put you in a better position to negotiate because you are aware of what you are looking for and you know how much other competitors are charging for the same. State clearly what you are specifically looking for from the company so that they may prioritize your needs from day one.
Choosing the Right Property Manager for Your Atlanta Rental Property
Putting these tips to work is a great way to choose the right property manager for your Atlanta rental property!
In the meantime, if you're struggling to manage your property on your own, you need our free Make-Ready Checklist! Download it today and use it to create your own standard process for prepping your units for new tenants.