How Landlords can Benefit from a Property Manager
Oh, the job of the landlord - owning rental property and giving others a chance to make a home in something you purchased – may be what you have always wanted to do. But, as you likely already know, it is demanding work. Between maintaining the property and handling the necessary repairs, finding tenants and collecting rent, and dealing with the cleanup at move out – your hands will be full. This is especially true if you have more than one property – or if being a landlord is just a side project.
The good news is you can find relief so that you have time to focus on things such as looking for additional investments, working another job, or spending time with loved ones. You need to hire a property manager.
Still not convinced? Here are just a few of the benefits you will receive when hiring a property manager.
Imagine having a wonderful tenant that you’d like to keep for extended periods, rather than having to always seek out a new one. Property managers are wonderful at negotiating lease terms – providing incentives for good tenants to renew – and to do so for longer periods of time. And, because your property manager will help you secure great tenants, you will be thankful for this perk even more!
Marketing of your property
When you hire a property management team, you are getting insider knowledge of the local and surrounding areas. They will know how to market your property – and where to do it – so that you land the best possible tenants for your rental space. Being aware of trends in the market gives them an upper hand in seeking out the best tenants.
In-depth tenant screening
Property managers make it their job to screen tenants. You will find that they will do an in-depth look into the background of applicants so that you – and your rental property – are protected. Your Atlanta property manager knows exactly what to look for to find you great tenants. By utilizing certain criteria, you will land tenants who are honest, hardworking, and reputable. The criteria that are reviewed starts with:
- Credit history
- Employment history
- Rental history
- Background checks
Move-in and move-out inspections
These inspections are such a hassle. Why not let someone else handle them with you? Property managers can determine the cost of any damage and will work with the tenant to either return the deposit or obtain additional fees for damage to the property.
Handling of all paperwork
There is a ton of paperwork that can be involved in managing rental properties. And, for accounting and legal reasons, you need to hold on to this paperwork. Your property manager will handle everything from the application to the move-out.
Collecting of rent
If you have more than one rental property, collecting rent can turn into a hassle. If you have shady tenants, it can be an even bigger issue. Let a property manager collect the rent from your tenants and, in turn, pay you. Accounting records will likely also be maintained.
Routine maintenance and repairs
Routine maintenance and repairs can be overwhelming at times – especially if you own more than one rental property. Property managers are set up to receive maintenance calls 24 hours a day, 7 days a week. You will not need to worry about trying to learn how to fix a leaky pipe or finding an honest company to take care of it for you.
Your property manager will handle every aspect of your rental, so you don’t have to. No more late-night calls from tenants about a leaky faucet and no more hassle with collecting rent. Hire your Atlanta property management team today.
Marina Shlomov, a managing partner atALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube,Bigger Pockets andREI Club andLinkedIn.