The property management industry in America has an annual revenue of more than $80 billion. This value shows that many real estate investors see the need for property managers.
Owning rental units can drain your time and resources, especially if you own several. Being a landlord is a lot of work; you have to collect rent every month, handle maintenance requests, and even possible evictions.
Knowing how to handle everything can be challenging, but a good property management company will take much of the work off your shoulders.
Interested in more ways property management services can help? Keep reading for more about the role of a property manager.
They Handle Tenant Applications
When you own investment properties, you must find tenants to live in them, which can take some time. This is one way a property manager can help. They will take over finding tenants for your vacancy rentals, which includes thoroughly screening them.
This screening process can include credit checks and criminal background checks. This process will also reveal if their previous landlord evicted them from a prior residence.
They Collect Deposits and Rent
Owning rental units is an excellent source of extra income, but only if your tenants pay their rent. Regardless of whether you have good tenants that pay rent on time or bad ones that are constantly behind, good property managers will handle all the rent duties on your behalf.
This includes handling the deposit required as well as collecting rent every month. They will also send rent reminders before it's due and chase up late or defaulted payments.
They Understand Atlanta Landlord-Tenant Laws
Another element of being a landlord that some find challenging is knowing the laws regarding landlord-tenant rights. Understanding the legal side of renting property can help if you need to issue an eviction notice or you don't want to rent to someone.
If you don't know the law, you could open yourself up to discrimination lawsuits or worse. Experienced property managers will be well-versed in housing laws in your state and able to handle the legal stuff on your behalf.
They're a Local Presence
If you live in a different town or state than your investment properties, a residential property manager can help you too. They can act as a local presence should your tenants require someone to visit the property for maintenance or similar issues.
This means that by handling any maintenance issues, you don't have to travel out of state to do the maintenance checks yourself. Aside from saving you time traveling back and forth, it also saves you money not having to drive long distances or book plane tickets.
Hire Atlanta Property Managers Like a Boss
The right property managers make your life as a landlord much simpler. They can undertake several property manager duties, such as being a local presence if you live outside the area. They're also clued up with the law, which can help you avoid legal issues, and finally, they handle the tenant screening process and rent collection every month.
If you need top-quality property managers, contact us today. We serve the greater Atlanta area and have experts waiting to help you with your investment properties.