7 Ways a Property Management Company in Atlanta Makes a Landlord’s Life Easier
You’re a landlord with a lot on your plate. From placing tenants to collecting rent, you might be thinking about hiring a property management company in Atlanta. However, you also might wonder how exactly a property management company can make your life easier.
Recognizing that landlords carry a lot of responsibilities, this is how a property management company can streamline your rental property business. Responsibilities range from help with day-to-day tasks to monthly rent collection and more.
What are the Responsibilities of a Property Management Company in Atlanta?
1. Evaluate Property Condition
As a busy landlord, it can be tough to find time to do regular assessments of property condition. However, this is an important aspect of property management. Not only does it keep your rental properties in peak condition, but it can help you maximize your income.
When evaluating property condition, a property management company in Atlanta might look for the following:
- Condition of the building’s exterior including roofing and windows.
- Condition of interior elements, such as flooring, kitchen, and appliances.
- Rental property is in a safe and clean condition.
- Amenities that are appropriate for the neighborhood of your rental unit.
- Maintenance and repair recommendations, such as broken, damaged, or outdated items.
- Ensuring necessary repairs are made with licensed and insured contractors.
Your property condition is essential to tenant retention and happiness. However, your property condition plays into the next responsibility of a property management company in Atlanta: rent price.
2. Determining Rental Rates
Do you have a process for determining rental rates for your tenants? If not, a property management company in Atlanta can step in. Fair market value for rent is essential to you as a landlord, allowing you to help find and retain your ideal tenants.
How Are Rental Rates Determined?
The average apartment rental cost in Atlanta is between $1,000 to $1,500 per month. However, there is a range between $500 to $2,000+ per month.
There are several ways to determine the appropriate cost of rent for your property, such as:
- The neighborhood
- The quality of your curb appeal
- Number of bedrooms and bathrooms
- Square footage of the rental unit
- Proximity to convenient shopping or desirable amenities such as walking trails
- Presence of a swimming pool
- Length of the rental agreement
- Reviewing fair market value, which is determined each year by the United States Department of Housing (HUD)
A good property management company knows all of the considerations that factor into a fair yet profitable rental price.
Once you know the best rental price for your property, the next responsibility to consider is the marketing of your property.
3. Property Marketing to Fill Vacant Units
With new rentals popping up every day around Atlanta, you might be wondering how you can compete with neighboring landlords.
When there are a lot of rental properties to choose from in Atlanta, it’s important to market your property properly. This is where a property management company assists so you can find your ideal tenant.
Property Marketing Best Practices
The most experienced property management companies in Atlanta will provide skilled marketing services such as:
- Taking photos to ensure your property is shown in the best light.
- Making sure your rental property is clean and move-in ready.
- Advertising the property on platforms that are most likely to reach your ideal tenant.
- Determining the unique selling points of your property.
- Ensuring that the property has a competitive rental price.
- Using references and referrals.
- Placing yard signs.
When the calls start coming in, your new property manager is responsible for showing the property.
4. Tenant Screening
Once a property management company begins marketing your property, the work doesn’t stop there. Inquiring tenants might seem like a dream, but tenant screening can unveil a questionable past.
That’s why it’s important to screen each tenant. You will find information including credit scores and past rental history. From accepting applications to keeping all the important documents in a row, tenant screening is an important aspect of rental property management.
5. Coordinate Lease Signings & Renewals
When a tenant falls in love with your rental property, the deal isn’t done yet. A property management company in Atlanta ensures the lease is signed into a legally binding contract. Both parties understand what’s expected of one another, including outlining rules and regulations for living in your property.
When the tenant passes the screening and signs the lease, your new manager will collect the deposit and any fees required at the time of signing. There will also be a walk-through inspection before the tenant officially moves in.
Don’t have a great lease to present to tenants? A property management company can help you with one.
On the other hand, the day will arrive when a tenant can move out after an expired lease. A good property management company will arrange terms to keep tenants in place and avoid vacancies.
If the tenant chooses to move out, the property manager will tie up all loose ends and perform a move-out inspection on your behalf.
6. Monthly Rent Collection and Payments
Did you know that rent collection is one of the biggest worries among landlords? This worry only grows worse with the current climate of Coronavirus.
When it comes to collecting rent, a property management company in Atlanta can help. For example, we instill a consistent collection process to keep tenants paying on time.
YesiRent also sends statements and payments twice a month to landlords. This keeps you in-the-know of your rental property finances and cash flow.
7. Maintain Rental Property Units
Perhaps one of the most time-consuming aspects of rental properties is maintenance. You’ll have to worry about incoming calls about items that need attention. From there, you’ll have to ensure that you make a timely attempt to make repairs.
While the state of Georgia does not define how quickly landlords must make repairs, consider the urgency of the situation. A burst pipe in the kitchen sink is more important than a bathroom closet that needs a new doorknob.
Say Yes to YesiRent Property Management
Finding a quality property management company in Atlanta can make your life easier as a landlord. With an extensive list of property management services, you’ll find peace of mind putting your trust in us to oversee your property.
Contact us today to get expert help with managing your Atlanta rental property.