Atlanta Property Management
Given the laws against rent controls, rising rents, and the improving economy in Georgia, owning rental properties in Atlanta is a great way to invest for profit.
Like most other US metro housing markets, Atlanta is hot. Yet owning rental properties and earning a profit aren’t necessarily coincidental. In fact, as more properties of various types and locations are brought into the owner’s portfolio, the higher the risk of loss and poor performance. It’s not always boom times.
It’s our opinion that property management services aren’t a cost but rather a value add proposition.
Finding a Services Firm Which Can Handle the Demands
Of course, anyone investing in Atlanta rental properties will be looking for a good Georgia-based property manager too. With so many firms available, how will you decide on one that will prove reliable, while managing your tenants, leases, and units professionally?
Rather than relying on online review services such as Angie, Trustpilot and Yelp, we’d suggest you build your own list of criteria on a spreadsheet. Review our posts on the topic, to learn success factors you hadn’t considered before, then prioritize which are must haves.
There are a few factors that define great property management companies:
- they are led by an experienced, and capable manager
- they use digital management technology for its efficiency, coordination, and communications power
- they have a great staff who are capable and enjoy their work and find meaning in it
- they are transparent in operations and their fee structure and communicate well
- they possess all the maintenance resources to perform their tasks well
- they make effort to stay certified and are connected to the industry
Red Flags to Watch Out For
- poor communications skills and disorganized work processes
- missing, non-working website which should show specific services provided
- staff are not visible online – few professional credentials available
- Linkedin profile of property manager neglected
- won’t tell you which software they use
- pricing models difficult to figure out
- offers guarantees and discounts
- no inhouse maintenance technicians
- lower than industry average occupancy numbers
- no experience in rent collection and evictions
- is too busy with other owners properties
Digital Tools Vital for Atlanta Property Managers
On the ManageCasa blog we’ve revealed how important digital technology is in managing properties well. There are still companies in Georgia using aging proprietary management systems. They’re entering the digital transition phase a little late, however, by being a late adopter, they actually can see this sector more clearly.
So many new, evolved solutions have come up in the last few years, and these next generation solutions reach a higher plateau in productivity, services and profit.
Out of date solutions struggle to keep up to digital accounting and finance, data protection laws, interoperability with the cloud and digital services which extend expected services to today’s renters. For instance, ManageCasa offers a cloud based payment solution via Stripe, a recognized leader in payment solutions for the rental industry.
Without these cloud-based services, renters cannot pay through convenient methods or automate rent payment.
Meeting and Managing Tenants Escalating Expectations
Renters in Atlanta have big expectations about how they’ll interact with property managers. The company you choose will have to meet those expectations for online convenience, from online rental unit showings, to lease modifications and maintenance visits, to paying their rent.
The old days of face to face meetings to pay rent, make a request or talk about issues are over. Young renters especially want digital communications, and some new property management software solutions are strong on enabling good communications. ManageCasa has portals to allow direct communications and access to documents and information.
This online self-service model eases demands on management staff — peace of mind for you knowing they won’t burn out.
Learn more about property management certification in Georgia and the skills their team will need. Good luck with your search for a property management provider in your city. The years ahead look very profitable for those who make wise decisions.
* Come join us at NMHC’s Annual Conference in Las Vegas on November 1st. Let’s talk about your property management challenges and where your company is headed.
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