Georgia is the fourth highest state for employment of property managers. There are over 8,690 jobs.
A booming real estate market has made it more important than ever, especially in large cities. Landlords are buying up properties and need help keeping their investments in top shape.
Read on to learn five reasons why you should hire a property management company in Atlanta.
1. Attracting and Managing Tenants
Keeping your rental vacancy rate low is essential. A vacant property is like a wishing well that you throw money into without getting anything back.
Hiring a property management company is a better investment. They know how to take the right pictures and create ads to attract new tenants.
Once the offers come rolling in, they'll handle one of the most difficult but essential parts of the process; tenant screening. This involves getting to know every applicant by checking their credit, criminal, and employment history.
The property manager then serves as the go-between for you and them. They can handle routine maintenance and inspections for you without you getting calls in the middle of the night from angry tenants.
2. Setting and Getting Rent
6 million Americans, or 15% of all households, are behind on rent. Georgians don't have to pay the highest prices but are struggling.
This makes it more awkward than ever to collect on a rental property. You may not know how to set the right price, confront tenants who are consistently late, or handle evictions.
Property managers know what the fair market price in the area is. They'll set attractive figures that tenants are willing to pay. They know the laws and processes surrounding late payments and evictions.
You'll avoid legal issues while getting a higher monthly rental income and a lower vacancy rate. Tenants won't need to skip out on rent or move to a cheaper property.
3. Legal Compliance
Landlord laws exist at the local, state, and federal levels. There are also fair housing regulations and new changes from the COVID-19 crisis.
A property management company knows all of these regulations. They can help you avoid severe lawsuits and fines.
4. Vendor Relationships
It takes more than one type of professional to manage properties. Keeping everything working may require:
- Maintenance workers
A property management company has established relationships with the best and brightest of them. They'll oversee any projects while providing regular updates and can also get you the best prices.
5. Investment Flexibility
Having a property manager helps reduce your stress. They'll handle the long list of tasks that would otherwise fill up your mind.
This also gives you enough time and flexibility to expand your investments. You can buy property in geographically distant locations and build your portfolio.
Find a Property Management Company
A property management company helps you find reliable tenants who'll pay rent on time without venturing outside the law. You'll get access to reliable vendors to keep them content. You'll lose stress while gaining time to expand your portfolio.
PMI Georgia is an experienced property management company in Atlanta. Schedule a consultation today.