Real estate market in the country is rising after the decline that followed the 2008 crisis and investors are now rushing to acquire more properties to take advantage of the booming market. However, one thing that every real estate investor out there needs to know is that the number of returns that you get from your real estate investment is highly determined by how your properties are managed. Let us look at the Atlanta real estate market and see how an investor can choose the most suitable Atlanta property management firm to take care of his/her properties.
- Assess whether the company is also a good realtor company
It is worth noting that not all Atlanta property management companies are good realtor companies. It is, therefore, important to assess the company that you want to hire and make sure it meets your demands and expectations. You need to interview the company you want to hire with the help of your attorney and make sure all your questions are answered before signing any contract to empower them to manage your properties. This will enable you to make sure your properties are in safe hands and avoid dubious property management firms in the area.
- Consult extensively with the references
It is very important to make sure you have consulted the available references who have worked with the company that you want to hire before reaching their manager. Past clients who have worked with the property management firm that you want to hire can give useful information that will help you to determine whether the company is a reliable one or not. The information you get from references is sometimes more accurate than what the representative of the company will tell you. This also helps you to prepare for the interview with the company you want to hire because you are informed about the areas that you may need some clarification.
- Make sure the property management company is legally registered
It is worth noting that the rapid growth of the real estate market in Atlanta has also led to the increase of mushrooming real estate management companies that do not meet the required requirements to be allowed to operate as property managers in the area. It is very important to make sure that the company that you want to hire is legally registered and licensed by the local and state authorities to do business. If possible, it is even better if you are able to confirm whether the employees of the company are qualified professionals with some experience in real estate matters.
- Consider the management fees
It is very important to make sure you are comfortable with the fees charged by the property management company that you want to hire. The fees should be reasonable and affordable based on what is charged by other property management firms in the area. Property management fees in the area range between 8- 12 percent of the collected monthly rent and it is advisable to go for the one with the lowest fees as long as their services meet your expectations.
- Confirm the company’s permanent offices and address
The number of property management companies in the area is increasing rapidly and some of them are not serious at all. We have some real estate management companies that do not have a permanent office and address. You should not be surprised as a property owner if you call a property manager and they tell to meet in their homes or in another place that is not their office. It is extremely important to confirm the address and office of the company you want to hire before signing any papers. Avoid any property management company without a permanent office and office no matter how pleasing their offer is.
- Make sure the company has adequate resources
Some of the upcoming real estate management companies in the area do not have adequate resources to enable them to render quality services to their clients. Remember that once you have hired a property management to take care of your investment, the company also assumes the responsibility of doing repairs and renovations on your property as long that is included in the agreement. It is therefore very important to make sure the company you are hiring to take care of your properties has adequate resources to perform its duties according to your expectations. Make sure the company has enough equipment and workforce do timely repairs and renovations on your property when necessary.