Choosing the right property manager can have a big impact on the overall profitability of an investment property. There are a number of ways to ensure that you choose the right Atlanta property manager when searching for this type of professional. One of the most obvious considerations is that of whether or not the property manager is actually licensed. Has the individual taken approved property management courses and has this person passed the licensing exam required by the state? These are just a few basic questions that should be asked from the very outset. Equally important is to view representative properties that are currently under management by a property manager in Atlanta that you may be considering. This is a sure way to get a genuine feel for how well properties in a current inventory are being managed overall. Management fees are another important consideration that must be taken into account.
Canvassing Atlanta Property Managers
Property management fees can range from one company to another by as much as 10% or more of the actual monthly rent being charged in terms of an actual management fee. Another key consideration to take into account when canvassing Atlanta property managers is whether or not properties will be regularly inspected. For an investment to be well maintained and protected it is important to make sure that the inside of each property is checked at a minimum once per year. That said, the exterior of a building should be checked quarterly. When these essential checks are not conducted, a property can easily fall into disrepair affecting its overall value.
Screening Applicants In The Most Complete and Efficient Way Possible
Also consider how your prospective property manager will handle evictions if they become an issue. Along with knowing what to expect with regard to the eviction process if it becomes necessary it is also important to look at overall eviction rates as they relate to a prospective property manager in the Atlanta area. Excessively high rates of eviction may indicate that a property manager is not screening applicants in the most complete and efficient way possible. Whether dealing with commercial or residential leases, those renting a property should be expected to successfully pass a detailed background check.
Have A Written Agreement In Place
They should also have adequate references from previous building owners or landlords. It is always best to have a written agreement in place that includes the contingency for a termination clause. These simple yet important basics when it comes to choosing the right Atlanta property manager can ultimately save you a lot of time, trouble and money. Contact Wiedmayer & Co. today to learn more about professionally managed and maintained properties throughout the greater Atlanta metropolitan area.