Atlanta Property Management

7 Replies

I'm in the process of buying my first rental property in the Bouldercrest Acres area of Atlanta (30316) and am trying to determine if j should use a property management company right out the gate. It seems like it would be easier to have the Mgmt company show the house, procure a tenant at a good rental rate and manage month to month but is it worth the 10% monthly fee and 1 month rent fee for placement if I only have one rental? I'm open to self managing but looking for those with more experience to give advice.

Does anyone have a good property management company in Atlanta they can refer? I'm speaking with MJ Howard company now and they're actually attending walk throughs of the properties with me before I put in offers so they seem to be worth their potential fees (noted above). Any input or recommendations?

@Michael Giuffre , Make sure you include PM fees in your analysis. I started out with a PM for my first property earlier this year. Something happened with one of their clients causing them to exit the business. I've been self managing an inherited tenant for about three months. It's been OK so far.

I'm slowly vetting/ building a maintenance team based on referrals from investor buddies. So far, I do the following for tenant reported issues (learned from BP & elsewhere):

  • Tenant sends me a pic of the issue
  • I try to troubleshoot via email, or go take a look
  • Contact handyman if I can't solve and send them the pic
  • Handyman contacts tenant to schedule appointment
  • Handyman sends before/ after pics
  • I mail handyman a check for completed work

Keep in mind that I developed a relationship with my ex PM. We communicate and meet in person sometimes. I pick their brain to expand my knowledge.

Also look at other PM options for tenant placement only leaving management to you. It may be cheaper.

Finally, check the landlord forum and blog posts here and learn about self managing vs. PM. Each have their pros and cons. Good luck!

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You need to factor in more than 10% for management company cost. For example if you have a place that you would like to rent out for $1000 per month, the management company is going to want the first months rent as part of their commission. If you divide out that fee over 12 months, it adds another 8% to your monthly cost for a total of 18% per month for the year. When they renew the lease, they may only charge you half of the base rent which would come out to approximately 14% per month cost. It's always more than 10%.

Hey Michael,
I am actually a third party contractor that handles all of the rehabs and maintenance for Citiside Properties located in Atlanta. I am a bit biased, but I would have to recommend then due to their excellent service.

They already manage a home on boulder crest, so we are very familiar with the area. I would love to do a walk thru of the home with you, so pm me so we can discuss further. Thanks

@Michael Giuffre my advice is to shop around for your PM. Call at least 4. Check with your local NARPM. Every PM company does not have the same business model and have the same fee structure. You may not need the full PM service for one rental. You may only need them to provide tenant placement like @Tapiwa Wakatama said. 

Michael,

I'm totally biased here since I own a mgmt company but my vote is yes for a lot of reasons. A good manager will never cost you a cent. Here's a short doc I put together on that if you want to view. I echo the comment about NARPM. If you interview a manager who is not a NARPM member I really have to question are they a real property manager. I'm happy to look at your property and recommend someone or if you just need help deciding give me a call.

I'll offer a counter-point to the property manager's posts. I was interested in hiring a property manager so I could be hands-off when we became reluctant landlords (after the housing bubble we needed to move, but would have lost more money that we were comfortable with if we had sold our house). The rental was NOT going to be cash positive, so it was a matter of how much money we would lose on it ever month. I called several property management companies, and found out that they'd basically call me anytime there needed to be a repair, and send me a bill. We happened to get excellent tenants, and anytime they'd call needing a repair, we would send a handyman or repair person. Finding great tenants was step one. After that, managing the property myself meant that we lost a lot less money on the property.