Managing Residential Property in Atlanta

Posted on March 10, 2011 by atlantadecaturhomes

If you have decided to rent your home in Atlanta, hiring a professional property manager is a sensible move.  Unless you are up-to-date on all the local, state, and national laws that affect property leasing, you could be subjecting yourself to unnecessary risk.  Here are a few factors that may help you decide whether to tackle the job yourself or hire a professional:

• Can you market your property effectively?
• Can you screen your tenants, check references, employment, and past residencies?
• Can you check a tenant’s credit?
• Do you have time to show the property?
• Can you write a comprehensive Lease?
• Are you available in case of emergencies?
• Do you have accounting skills?
• Do you know about security deposits and the strict rules that apply?

 

Atlanta real estate is improving, although existing inventories remain high.  Homes that have languished on the market or received unreasonable low offers have forced many Atlanta homeowners to consider leasing until property values increase substantially.

Successfully managing residential property in Atlanta is a skill, honed by years of practice and experience in the field.  Property managers need to be counselors, marketers, screeners, bankers and accountants.    You should expect your property manager to be  professional and experienced, and able to address the following issues to your satisfaction.

1. Advertising beyond a sign in the yard – Your property manager should  advertise in the multiple listing service, send regular emails to colleagues and other Realtors, and post your home on 18-20 popular websites, like Zillow, Trulia, etc,
2. Screening the Prospective Tenant  – Your property manager should check employment references, employment income, past residency, and credit of the tenant.
3. Leases and Move-in/Move-Out Agreements – Your property manager should use a Lease that is updated routinely by attorneys, should include a Move-in/Move-Out Agreement, and a Lead-Based Paint Exhibit, as required by law.  Local, state, and federal laws change frequently and the Lease and other documents that are used must be current.
4. Accounting and Reports – Your property manager should keep good records and should provide a detailed monthly statement of items paid on your behalf.  Every state requires careful, responsible handling of other people’s money, including security deposits, pet deposits, repairs and rents.
5. Repairs – A good property manager should be able to refer reliable handymen, plumbers, electricians, roofers, etc., as needed from time to time.

Atlanta Decatur Homes is a local Atlanta real estate company offering residential Property Management services for single family homes, including townhomes and condos in Atlanta, Druid Hills, Decatur, and Tucker neighborhoods.