Should you hire an Atlanta property management company? If you plan to add more rentals to your investment portfolio, a property manager is a smart idea.
What's keeping you from turning the day-to-day management of your rentals over to an expert? Perhaps you are afraid of letting go of the control over your property? You may also be worried about the cost of full service property management. However, growth can be challenging with support and experience.
Here are three reasons why an Atlanta property manager is the best way to build a successful portfolio!
1. More Tenants (and More Work)
Maybe you've handled the landlord tasks that come with one rental property well so far. From collecting the rent to handling maintenance tasks, you find a way to work your property owner duties into your schedule and enjoy the income.
What happens when you add more residential rentals to your plate? They come with more tenants (and more work)!
Some tenants are difficult and can raise your stress levels significantly. They don't pay the rent on time, they break the rules, and they call in the middle of the night with a maintenance "emergency" that could have waited until tomorrow.
With more rentals and residents, property owners must devote more time to keeping an eye on properties and tenant behavior. The time you spend managing renters for one home will multiply with every new investment property in your portfolio.
If you enjoy the real estate investment income—but you don’t want to deal with the headaches associated with difficult tenants—hire a property manager as soon as you're ready to grow! Property management experts have the resources to screen potential tenants, collect the rent, handle maintenance, and answer after-hours calls, so you don't have to worry about the extra work!
2. Being an Employer Is Challenging
As you build your real estate investment portfolio, something has to give. If you have a full-time job, you'll have to decide to quit working to devote time to rental property management, or you'll have to hire help. Achieving the right work-life balance will become difficult without more hands-on-deck because running a real estate investment business takes time, money, and effort.
Are you prepared to hire a team of people to help manage your rentals? Being a full-time employer is costly and time-consuming. Your rental property returns will have to cover overhead costs for payroll, employee training, and required benefits. You also shift from managing your rentals to managing a team of people to take care of your investments and tenants for you.
You Don't Have to Manage a Property Manager in Metro Atlanta
However, if you hire a property manager, you don’t have to do any of that. Property management companies are contractors and don't require landlords to manage their day-to-day activities or pay overhead costs. They assume the business costs involved with being employing their experts to manage your rentals.
Property managers will also use their networks to find the best sub-contractors to carry out repairs and routine maintenance at affordable prices. They can negotiate on your behalf and save you money in the long term.
Outsourcing your investment properties to a property manager will reduce your stress levels, improve your work-life balance, and reduce your business costs.
3. Better Return on Investment
If you don't have enough experience, you could invest in a money pit that won't generate enough profits to cover your investment costs. You may end up depleting your savings to maintain that property.
Acquiring knowledge and the right experience takes time and effort. Even if you've taken care of a rental for a while, navigating a growing portfolio requires extensive experience and resources to maximize your returns.
Hiring the best Atlanta property management company delivers the experience and resources you need for success! With their established processes and property management services, they can easily help you find new properties with excellent potential, then manage them to profitability.
You might also be surprised at how the increase in your returns offsets the cost of professional property management and associated fees. Most investors enjoy better profits that make it more than worth the expense of expert rental management.
Property managers also have their fingers on the pulse of what Atlanta renters want and how to manage rentals to deliver what they need while investors enjoy owning competitive rentals and more investment income! It's a smart investment to work with a property manager when renting, buying, or selling properties to get the best returns on investment (ROI).
Grow Your Real Estate Investment Income With Expert Property Management!
Adding more rental properties adds more work to your plate without the right help to manage everything and maximize returns. Renters Warehouse Atlanta is here to help real estate investors manage one or two properties—or grow a more significant portfolio! When you ready to look for new properties or work with expert rental management for your existing portfolio, reach out to learn more about how we can help!
Growing your rental property portfolio requires the right strategies! Learn the very best in our free guide, "Real Estate Investing: Growing Your Portfolio."