You need a Property Manager for many of the same reasons you need a professional real estate agent. To make your life easier.
Realtors are licensed and knowledgeable about State and Local laws that might affect your property. For example, in some municipalities there is a limit on the number of unrelated adults that can occupy a home legally.
A good Property Manager can handle most of the sticky issues that may arise in leasing your home. They can:
- Advertise the property for lease with signs, lockboxes, information boxes and emails to other local realtors and to major local businesses. Distribute flyers and brochures to the multiple listing service, personal websites, Realtor.com, Craigslist, Postlets.com, rentdigs.com, and a host of other appropriate sites.
- Screen prospective tenants by checking credit histories, references, past landlords, and backgrounds.
- Prepare a comprehensive Lease that protects the Landlord and the Tenant, spelling out possible problems like access to the property, accountability for damage to the property, and early termination of the Lease by either party.
- Keep individual records for each client, collect and hold Security Deposits and rent. Pay maintenance bills or lawn service if requested. Send out an itemized statement to the Landlord each month, and a year-end report as well.
- Maintain the property by handling repairs when requested or necessary. Professional Property Managers have good electricians, handymen, and plumbers available, as well as lawn services.
- Let tenants into the property when they are locked out.
Perhaps one of the most difficult duties that Property Managers perform is maintaining a good relationship and communication with your tenants. Tenants come in all forms and not all of them are amiable, even though they pay the rent on time and keep the property in good condition. Prickly tenants need a diplomatic approach and one that an experienced Property Manager can handle with ease.
Atlanta Decatur Homes is a local real estate company selling homes located in Atlanta, Decatur, and Emory University neighborhoods for over 25 years and offering professional property management for homes in the Emory area.