Most owners tell me they have never used a property management company, and they’re not sure what we do. Today, we are discussing some of the most essential functions of a property manager in Atlanta.
Prepare Your Property for the Rental Market
The first thing a property manager should do is meet you at your property and determine what it would rent for. Your property manager will be able to tell you what might need to be repaired at the property and what is necessary to make it desirable to the best tenants. We will do a lot of research to determine what the property would rent for. We use the MLS, property management software with internal pricing structures, searches of comparable properties, and our experience. We’ll come up with a great rent price.
Marketing and Screening
A good property manager will take pictures and video to launch a strategic marketing campaign. We will put it online and use signs in the yard because the signs are sometimes the most effective way to reach prospective tenants who happen to be in the neighborhood. Then, your property manager will start taking calls from prospective tenants. We’ll get some applications from those tenants, and our job is to process them. We are looking for a lot of things that as an owner you might not know to look for. You want an excellent screening process, which a property manager will help you do. Owners often get the final say in who rents the home, but we’ll make recommendations about the best tenants.
Manage the Lease
A property manager needs to execute the lease. We include a lot of information in our leases, which we have collected over the span of our experience. Your lease will protect you if there are issues. We move your tenant in with a move in inspection that includes pictures and video. You’ll need that when the tenant moves out and you need to decide how to disperse the security deposit. We also handle all the money. We collect the deposit and hold it in a brokerage account. Throughout the management process, we’ll collect rent every month. We also take care of maintenance, which is the most consuming part. We field phone calls, help tenants take care of minor issues on their own, and hire and coordinate vendors. We make sure they do a good job and pay their invoices. We do all your accounting, and provide some good reporting. That will include an owner’s statement that shows income and expenses. You’ll get a net check at the end of every month.
These are the things to expect from your property manager. You should get peace of mind that you have a professional handling your property and making sure you maximize your income. If you have any questions about Atlanta property management services, please don’t hesitate to contact us at Bravo Group Real Estate.