Economic growth in Atlanta is looking strong. Tech firms are adding jobs, and more people each year choose to make Atlanta their home.
The impact on Atlanta investment properties? Increased demand for rentals, which is great news for investors. But how can you manage your Atlanta investment properties successfully?
Let's take a look at 5 key tips for getting Atlanta property management right.
1. Tenant Screening
When all's said and done, nothing affects your bottom line like your tenants.
The best tenants take care of your property, pay their rent on time, and stay for long stretches. Get the wrong tenants and you can face huge bills undoing the damage and evicting them.
This is not a time to go with your gut. You need to undertake thorough research. Look at credit reports and background checks, including whether they have a criminal record.
All of this takes time, but it's an investment you won't regret.
2. Prioritize Property Maintenance
The importance of preventative maintenance cannot be overemphasized.
The delightful Georgia climate is one of the reasons people love living in Atlanta. But all that sunshine takes its toll on properties. Every 6 months at least, you should thoroughly inspect your property.
Tackle minor repairs before they snowball into big ones. Look out for any signs of pests and address them straight away.
3. Think Carefully About Allowing Pets
It might seem like a no-brainer - pets mean problems.
There is some truth in that statement. But if you don't allow pets, you automatically lose access to a large pool of renters. And people with pets can make great tenants!
One reason is that people with pets tend to stay longer. It's harder for them to find rentals, so they tend to stay. Also, most pet owners are very conscientious and stop their pets from doing major damage.
Talk to local property managers about whether allowing pets is a smart move in the Atlanta market.
4. Know Georgia Landlord-Tenant Law
Landlord-tenant law varies from state to state. It's very important that you are fully aware of your rights and responsibilities as a landlord in Georgia.
No one wants their real estate investing marred by costly and time-consuming lawsuits. Get familiar with Georgia landlord-tenant law, and you'll be home and dry.
5. Work with an Atlanta Property Management Company
Managing Atlanta investment properties can be very rewarding. However, there is a lot of work involved. Working with an Atlanta property management company is a stress-free solution.
They care for everything, including marketing, tenant screening, rent collection, and arranging maintenance. They provide a buffer between you and the tenant. Let them take the headache out of real estate investing.
Make the Most of Your Atlanta Investment Properties
Good property management is the key to success. With that in place, there's no reason why your Atlanta investment properties shouldn't yield rich rewards.
Working with dedicated property managers helps you find the best tenants. They'll keep your property in good condition and ensure you meet your legal obligations.
At Home River Group, our experienced Atlanta team is keen to help you maximize returns on your Atlanta real estate investing.
Schedule a consultation with us today!
