All Forum Posts by: Phil Earley

I would suggest finding a someone who specializes in Property Management to run some numbers for you.  Someone who knows the area should be able to come within $50 dollars a month so that you have good information to base your decisions on.   

I personally quote the low end of the range for people to make sure they have worst case scenario to work with.    

I've learned that about 60% of landlords/investors who don't need me today will end up calling over the next 3 years to take over so helping is a win win for all of us.     

If they are breaking the current lease per the agreement and current landlord has confirmed all monies due have been satisfied, all is good.   If not, deny.  They will do the same to you. 

One of our automatic denials is having balances owed to past landlords.  

Handing the keys over to a family that should have been denied with proper screening.....and now the fun begins:)  

For people who don't need full property management from us, I send them over to easerentalsolutions.com   Its free to Landlords and Realtors because the tenant pays for the screening service.    

I would also suggest having the buyer buy them out with additional non-refundable earnest money made payable to you refundable during closing.   This will protect you if the sale falls through and added insurance the buyer is serious and able to close.  

Once you narrow your search down to a couple of companies, I would set up a time to stop by their offices and meet the staff.  Walking in the front door is a great way to gauge who the company really is and if these are the people you want to go into business with. We all know if you and your property manager aren't going to be on the same page, it's a lose for you, the company, and the tenant.  

Here is a list of questions to help you decide who is the best fit for you.  

Top 20 Questions To Ask Before Hiring A Property Manager

Looking at investments from the maintenance side of the equation once you own it,  I believe a 3 bedroom, 2 bath one story home on a slab foundation connected to public water and sewer is the perfect rental for buy and holds.   The big ticket items in Atlanta when something goes wrong tend to be water in the basement or crawlspace or having to dig up the septic system.    A 3 bedroom 2 bath home has only one hvac system, one water heater, one garage door, 2 exterior doors, and no wood deck that will rot every 7-10 years.   Hope that helps!

Metro Atlanta as a whole is a great rental market.  Finding responsible tenants here is not an issue.  Your price point opens up many areas for you to consider.  Using school districts here will help you narrow down your search.     Cobb County, North Fulton County, Gwinnet County, and Forsyth County are some areas to check off the top of my head.       

I agree with everyone.  Where there is smoke, there is fire.   This is probably a good one to walk away from.   Better to find out now than after the closing.     

You want to make sure that when your tenant or property manager calls to let you know the home is no longer there,  your day doesn't get worse after you speak with your insurance agent.