Dustin McClure out of Moorshead NC has a fantastic blog post that "nets" out why one should consider a Residential Property Manager.
We offer executive leasing and property management in Atlanta GA. We will do just leasing or both, whatever works for the client. Most interesting moment we had with this option was a nice lady starting out at our initial meeting saying "Why would I ever pay you xx to manage the house, when I can do it myself." As it turns out she did hire me and a year later expressed "I can't tell you how happy I am that you are handling this!"
Again, we will do whichever the client prefers - lease or lease and property management. Dustin does a great job highlighting what goes into property management so you can decide what works for you!
1. Local Knowledge of Rental Rates: Licensed Realtor provides you with in-depth knowledge of the neighborhood values.
2. Marketing Expertise: Rental listing network minimize vacancies and maximize advertising exposure.
3. Tenant Screening: Thorough renter pre-screening, background checks, and recommended selction.
4. Property Law and Regulations: Up-to-date knowledge of property laws and regulations, making sure you are in compliance with your local, state and federal rules and regulations.
5. Standarized Lease Agreement: Professional Association Forms provide beneficial terms, conditions, rules and regulations.
6. Preferred Service Provider Relationships: Knowledge of local vendors, suppliers and contractors who provide good quality work at reasonable prices.
7. Rent Collection: Systems to help ensure on on-time rent payments and allow for smooth bank transactions.
8. Inspection Reports: Routine property inspections may reveal faults that if found, can be resolved quickly befor they become even more expensive.
9. Security Deposit Escrows: Manage your security deposit escrow funds and make sure you are in compliance with local and state regulations. Tenants are much more comfortable with initial lease negotiations whey they know their funds are held in a third party's account.
10. Financial Record Keeping: Provide detailed income and expenses reports as well as cash statements every month saving you the bookkeeping headache.
11. Emergency Calls Buffer: Imagine being shielded from the late night "my toilet is overflowing" call.
12. Property Management Fees: Fees involved in managing your investment property or improving your real estate are usually considered tax deductions. Please consult your trusted accountant or tax advisor for verification.