What type of rental properties do you manage?
We specialize in residential single family homes, duplexes, tri-plexes, four-plexes and apartments under 50 units in the Metro Atlanta Area.
What type of property management experience do you offer?
Compass Property Management Group (CPMG) delivers a unique real estate investing experience to our clients. Unlike traditional property management companies who co-manage properties with you, CPMG does ALL the work for you. If it’s related to your rental property, CPMG will take care of it. Our clients love us because they can be a true real estate investor, not a landlord. The CPMG owners have been investing and managing rental properties for more than 10 years. They understand the real estate investor mentality and will treat your rental property as if it were one of their own investment properties.
Why should I hire you as my property manager?
Compass Property Management Group (CPMG) delivers a unique real estate investing experience to our clients. Unlike traditional property management companies who co-manage properties WITH you, CPMG does all the work FOR you. If it’s related to your rental property, CPMG will take care of it. Our clients love us because they can be a true real estate investor, not a landlord. Our services are superior to the outdated, traditional property management model. We have reviewed every component of the property management process and found ways to deliver better service and better results.
Turning over your rental property to the care of a new property manager can be an emotional and frightening experience. You have to be able to trust your property manager so that you won’t be worrying about your property. The more research and information you gather, the better you will feel about your final decision. You should hire CPMG only if you believe we are the best match for you. Frankly, we are not a perfect fit for every property owner, especially owners who want to be involved in the day-to-day management. Of course, we’d love the chance to earn your trust and manage your property, so please read on.
What will my home rent for?
We are asked this question more than any other by new owner prospects. The rental market is a competitive market with many variables that are constantly changing. Contact us and we will provide you with a free Rental Analysis.
There is also some strategy behind choosing the right asking rent. We have found that asking above-market rent leads to higher vacancy periods and higher turnover. Both of these contribute to a smaller bottom-line. Asking market rate rent increases the chances of finding great tenants who want to stay in the property for a long time. Better tenants and lower vacancy will put more money in your pocket!
We will check comparable rental rates for your home’s area and submit to you the lower, median and high rental amounts possible. Depending on your home’s condition, we will suggest the most strategic rental amount that will get your property rented quickly, but still maximize your rental amount.
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy owners who overprice their rental homes. When you hire us as your property manager, we will look at the rental market in your particular area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
What will you do to rent my house?
We give it maximum exposure, convert a high percentage of leads to showings, and showings to applications. We process applications carefully, but quickly, to rent your property as fast as possible. There are a few key differentiators that we have proven will rent your property faster.
INTERNET LISTINGS: Our available homes for rent are posted on dozens of for-rent websites, complete with high quality photos, maps and property details for the convenience of those searching for a new home. Our ad-copy is carefully crafted to provide critical information to prospects who only spend a few seconds reading ads.
PROFESSIONAL PHOTOGRAPHY: Prospective tenants are visual, often looking at the photos before reading the ad. It’s critical to have high quality photos to attract high quality tenants. Compare our photography to other companies. You’ll instantly see the difference and understand why we convert a huge percentage of page-views to showings.
VIDEO TOURS: When possible, we film and publish video tours of our rental properties. Photos are great, but it’s difficult to “feel” the flow of the house with still photos. Video tours give prospective tenants the ability to virtually walk-through your property and experience the floor plan and flow of the home. Our high-definition videography
INSTANT ONLINE SCHEDULING: When a prospective tenant wants to schedule a showing it’s important to make the process as easy as possible. Instead of playing phone tag with a leasing agent, CPMG prospects can instantly schedule a showing online. Enabling prospects to instantly schedule a showing allows us to convert a higher percentage of inquiries to showings.
CORRECT PRICING: Even the best and nicest homes will not lease quickly if overpriced. We make sure your rental home is priced according to current market conditions.
THOROUGH PREPARATION: Even the best located and well-priced rental homes will not lease quickly if the rental home is not in top showing condition. Homes for rent must show well and have an attractive “curb appeal” or they may sit empty for extended periods. Part of our job as property manager is to make sure your rental home is presented in a clean and attractive condition so that it will attract a good tenant.
How do you screen new tenants?
Nothing is more important to Compass Property Management Group than ensuring that only the most qualified applicant(s) will become your tenant(s). Approving the wrong tenant can cost the owner and the property manager a great deal of time and money. Compass Property Management Group is different from other management companies in this aspect, as we have a statistical representation that our qualification guidelines work better than other Property Management companies. Our background checks are highly intensive and cover a wide variety of aspects that we find vital during the application process. We get a copy of the credit report with reported FICO score, check for previous evictions, verify previous landlord references, and verify applicant employment details with income requirements.
How do you reduce the risk of a tenant not paying rent or damaging the property?
We reduce the risk of a tenant not paying rent or damaging the property by using a conservative tenant screening approach. We do not assume we are being told the truth until we verify the information with credible evidence. We look for tenants who have something to lose (i.e. negative impact on credit) if an eviction or small claims suit is brought against them.
We look at tenant's credit, employment history, rental history, and check for any type of criminal background to identify any potential red flags to be concerned about.
We expect that our tenants pay rent in accordance with their lease agreement. We charge late fees, send notices to vacate, and file eviction suits if a tenant is in default of their lease agreement.
We also offer inspection services while the tenants are occupying the residence to reduce the risk of damage to the home.
As a result of our strict screening and payment management procedures as well as our inspection services, we minimize the risk of tenants not paying rent or damaging the property for our clients.
Can you help me get my home rent ready?
Absolutely! Compass Property Management Group utilizes an in house team and vetted, experienced vendors to get your property ready to rent in no time! Once the work is complete, our marketing team goes to work to aggressively market your home on over 30 websites. Then our management team begins their careful screening process to get you a long-term, responsible tenant.
Why should a tenant rent through Compass Property Management Group?
Our experienced team focuses on responsive, empathetic interactions with our tenants that promotes communication and problem-solving. Tenants who rent from us enjoy instant, 24/7 access to their portal which allows them to report issues to maintenance, check status of repair issues, check their ledger balance, and find information that will help lower utility bills, inform of current issues, and more. They can also make rental payments via the portal, or through our on-line automatic system that shows payment immediately.
Can you put the money directly into my checking account?
YES! accurate and up to date accounting is one of the most sought after services from an owner and is one of the most important things our company strives to be the best in. Our accounting department is highly experienced in a multitude of areas, providing you with expert care and service. We provide a detailed accounting of all income and expenses monthly, a year end summary 1099 for tax purposes, and provide smooth international and national wire transactions to your bank account. We can print and mail these statements or we can email them, all at your option.
When do you disperse the owner's funds and email statements?
Owner’s distributions are sent via ACH to your bank account on the 14th of each month. Statements are posted to the Owner’s Portal.
What happens if the tenant does not pay their rent?
If payment has not been made by the 4th – 6th day of the month, we send the tenant a three day pay-or-quit. Whether or not we eventually have to proceed with a formal eviction depends on the specific circumstances. It is usually financially better, for all involved, if a solution can be worked out. If the tenant has experienced a one-time event which caused them a financial hardship, and we have had no previous problems with them, we will normally give them a chance to catch up, if there is reason to believe they can do so. If the tenant has demonstrated an ongoing pattern of late payments, broken promises and/or evasiveness, eviction is usually the best course of action.
Each case is unique, and we make our decisions based on what is best for you and the property in the long run. We always proceed with the legal notices required for eviction regardless of any other factors. We will simply postpone the actual filing of the eviction if the tenant is showing favorable effort toward resolution. Evictions in Georgia are a simple legal matter as there is no way a tenant can prevail in court if they have not paid rent, and the landlord has properly executed the notices and filing. Full evictions, when necessary, can usually be completed in five to six weeks. If the tenant can fully catch up with rent and late fees during that process, an eviction can be halted at anytime.
How do you handle maintenance calls?
Tenants may submit maintenance requests through email, mail, and our preferred method of entering requests through the tenant portal. After receiving a repair request, we will contact the tenant and ask them questions in order to help us determine the exact nature of the problem. We try our best to make sure it is not something the tenant can fix themselves (ex: tripped breaker, etc.) before an owner’s money is spent on a service call. After determining that it is a legitimate problem, we will send the appropriate service vendor techs to make the repair. We tell our tenants that we are able to handle most repair requests within 48 hours.
Do you use the cheapest maintenance people you can find?
No. However, our goal is to deliver the best value to our clients. Our maintenance technicians are middle of the road in price and are competent and reliable. Our main “go-to” maintenance techs work on a time and materials basis. Some repairs are billed on flat-rate or bid-price depending on the issue. Due to our volume of work lower prices are provided by our specialized vendors, such as HVAC, garage door repair, plumbers, electricians, roofers, etc. We try to have our primary maintenance techs handle most of the multi-trade and make-ready tasks. This saves our owners a lot of money on multi-trade repairs by cutting down on the number of service calls to the property by different vendors. It also means that if we are called out on a dishwasher repair, we are going to be checking the furnace filter, sink drains, smoke alarms and general condition of the property ‘ something that a single trade vendor will not do for you.
We think we have developed a very sensible approach to handling maintenance and repairs and that you will realize cost savings that other property managers simply can’t deliver
How do I know your property manager won’t spend my money on large repairs without my approval?
This is a legitimate fear. We promise in writing not to do that. The Property Management Agreement includes a spending limit to protect you.
Sometimes expenses such as a replacing a water heater, repairing a roof leak, or emergency furnace repairs are unavoidable. In emergencies where 1) the health or safety of a tenant is at risk, or 2) there is only one option to consider or 3) the property will incur damage if immediate action is not taken, the property manager will initiate the repair work even if it is higher than the pre-authorized spending limit, and then let you know of the situation and what we are doing about it.
How much security deposit do you charge the tenant?
As a general rule of thumb we collect one (1) times the monthly rental amount for the security deposit. Based on an applicant’s qualifications we may increase the deposit to mitigate risk.