Are you tired of being a landlord, or unhappy with your current property management company? Today, we are talking about how to choose an Atlanta property manager. We’ll share some questions that you’ll want to ask when you’re interviewing your next management company.
The most important thing you need to ask is whether they are a licensed real estate company. It is required in the state of Georgia, so this is critical. You also want to ask about experience. Find out how many properties they are currently managing and how long they have been in business. You might be talking to a real estate company that has been in business for a long time, but perhaps they only recently began managing property. Ask what level of staff is dedicated to property management and what kinds of certifications and training they have.
It’s important to talk about advertising. Ask how advertising is done, and where your listings will appear. Ask about the average number of days a property is on the rental market. You want to know how your property will be shown. It’s very important to find out if an agent actually accompanies a potential tenant to the property or if a code is given and people are allowed to enter the property alone. You definitely don’t want people you haven’t screened yet with access to your vacant property.
Ask a potential property manager how tenant screening is conducted. You will need to know what kinds of procedures and systems are in place to comply with fair housing laws and credit protection laws. It’s also important to ask how maintenance requests are handled. You’ll want to know how the property manager decides whether something is an owner or a tenant expense.
Professional property managers are responsible for processing hundreds of thousands of dollars on behalf of their clients. Be sure to ask how experienced the accounting staff is and how they manage trust funds and security deposits. Find out how often accounting statements are sent and how often owners are paid. You’ll want to know how they manage the steps leading to eviction and what they do during the eviction process itself.
Always ask about the fee structure. Will you need to pay up front? Do you get charged when the property is vacant? You want complete transparency when it comes to property management fees. There might be placement fees in addition to monthly maintenance fees and you want to know what happens if a tenant moves out or gets evicted before the end of the lease. Ask about termination fees and make sure you know how to terminate the contract if you need to.
All of this might sound overwhelming. If you’d like some help, contact us at Solutions Realty Network and we’ll help you get it all sorted out.
