Investment Property Management Fulton County Georgia

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If you are a real estate investor in Fulton County Georgia in search of a top rated investment property management company give us a try!

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A good number of rental property owners know that when you are looking for Property Managers in Fort Worth, TX or Property Management Companies Arvada, Colorado. RentVestPM.Con is who you need to contact but did you know that RentVest is also the top choice for anyone in search of a affordable property manager in Fulton County Georgia. After merging with MYND we are better prepared to handle the day to day affairs of the more than 30,000 tenants we serve, while improving the ROI of the more than three thousand investors in our network.

Skilled Investment Property Management Defined Duties

Rental property manager is the management of investment properties. Your property manager or rental management company really acts and makes decisions on the part of the investment house owner as a way to maximize ROI as well as minimize risk on the property itself. Below, we will be going through several of the reasons you would like to consider employing a professional investment property management company.

  1. Time: Many people that invest seriously into rental properties simply lack the time that is needed to regularly maintain them and to ensure they are functioning. A management company can lessen how much time that is needed for looking after property investments. Not only will they manage the regular activities linked to owning the house, but they make decisions for the home owner.
  1. Legal Knowledge: Those that spend money on properties that get involved in various legal programs will need to have specific legal expertise in the issues to be able to effectively comply. A rental management company will probably know the specific rules and they will have the legal knowledge required to ensure full compliance.
  1. Background Record Checks: You should thoroughly vet potential tenants. A rental management company is going to have the time, skill, and resources necessary to properly scrutinize each of the potential tenants to minimize risk and maximize returns from the property.
  1. Location: A lot of investors will purchase investment properties in various cities. As they are not able to physically be close to their house constantly, they will need to use out a great investment manager in order to deal with the different assignments that are required to control the home and its tenants.

A smart investment property management company could be a significant advantage to somebody that is thinking of purchasing a property. Investing in property is not only very time intensive, but it might be particularly risky in case you are not really acquainted with the legalities linked to owning and renting property and when you are struggling to spend the required time handling the property and doing landlord duties. One consultation with us an you will understand why RentVestPM.Con is the top choice for anyone seeking a affordable rental property manager in Fulton County Georgia. If you would like more info on the services offered by RentVest Property Management please take a look at our blog. There you‘ll find blog post on Property Management In Miami and other subjects of interest to rental real estate property owners in Fulton County Georgia.

Post of Interest to Those looking for Property Managers in Fulton County Georgia

How Real Estate Management Companies, Property Managers and Landlords Can Increase Rent Prices With Minimal Tenant Loss

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Notifying tenants of an increase in the monthly rent price for your rental properties is usually a touchy matter, especially since a rent increase can create vacancies that will need to be marked and filled when tenants choose to move rather than pay a higher rent monthly rent. Your rental unit pricing is a big real estate management decision. It is also a crucial factor on whether or not tenants decide to move or stay, so it’s important to tread cautiously when it comes to rent increases.

You want to offer your rental units at the fair market price, but you also want to retain the reliable tenants you have and avoid vacancies. Experience has taught us that renewing leases with great residents who’ve proven themselves to be reliable and conscientious is usually more valuable than a rent increase.

Still, you may decide that a rent increase is necessary to cover rising costs and maintain profitability. In that case, you’ll need to decide how much the increase should be, which is typically between 3-5 percent. When notifying tenants in advance, you’ll want to write a cordial rent increase letter to your residents. Keep the tone warm and include a brief explanation for the increase. Here are some examples:

• Increased costs of maintenance supplies and services needed to maintain the community’s safety and security standards, clean, inviting common areas, and landscaping and green spaces.

Other valid explanations for rent increases:

• Cost of living increases
• Bring the rent up to market value
• Property improvement costs
• Property tax hikes
• Increased utility costs
• Increased insurance premiums

Rent Increase Guidelines for Real Estate Management Companies

Every state has specific laws for rent increases by which you much abide. If you offer rent -controlled housing, your options to increase rent are much more restricted.

Some of the regulations to review in your state, county or city laws for raising rent include:

  • Rules for rent-controlled housing
  • Frequency of rent increases
  • Language requirements in your lease regarding rent increases during the term of the lease
  • Maximum limit for rent increases
  • Number of days’ notice you must provide before rent increase begins

It’s important to do your homework and make sure you understand what property managers and landlords can and can’t do when deciding to raise rent prices.  Generally, unless the lease specifies otherwise, you cannot raise rent prices before the lease expires. Real estate management companies, property managers, and landlords must also deliver a written notice of a rent increase, usually a minimum of 30 days before the increase takes effect.

In many states, unless the apartment is rent-stabilized, you can increase rent by any amount you choose—there is no limit— but you risk losing good, reliable tenants if your price hike doesn’t represent fair market value or seems unreasonable. A growing number of states are moving toward enacting rent increase limits on behalf of tenants.

Writing and sending rent increase letter that is amenable to tenants

Communication is key. A rent increase letter complies with rules for informing tenants and officially documenting it. Your rent increase letter should be pertinent, professional, and written in a polite, approachable tone. You can search for rent increase letter sample templates to use as guidelines.

When writing your rent increase notice letter, personalize it to your community’s unique identity, bearing in mind that money is a sensitive issue, communicating with tenants on a personal level helps remind them that you value them as people. This is your best approach for encouraging them to stay, despite the rent increase. Great tenants appreciate great landlords too, and a great landlord is one who makes his or her tenants feel valued.

When writing the rent increase letter’s greeting, use the tenant’s name, rather than “dear tenant.” Also, use “Change in Rent Notice” in the subject line instead of “Rent Increase Notice,” since the former doesn’t immediately elicit a defensive reaction from residents. In the letter, make it clear that tenants can contact you with questions and provide your email address and phone number. Make sure to thank them for being a valued tenant. Sign off with a personable closing phrase such as “sincerely,” “Best Regards,” or “Many thanks.”

Important information you must include in your rent increase letter:

  • Tenant’s name
  • Property address
  • Property manager or landlord’s name and contact information
  • Date the letter is written
  • Date the rent increase will take effect
  • Amount of rent increase
  • Current rent price
  • Rent price after increase takes effect

You can also structure the letter like a contract and insert a form at the bottom for the tenant to complete, sign and return. Wording on the form should read:

  • I agree to accept the new monthly rent price, effective XX-XX-XXXX date. (If selected, you can the tenant send a lease renewal letter.)
  • I do not agree to accept the new monthly rent price and will vacate by XX-XX-XXXX date according to the lease agreement.

To send the rent increase notice letters you can either hand-deliver them to tenants or mail them individually via certified class mail with a return receipt. Don’t email these notices, as you need to ensure the tenant acknowledges that they received the letter to prevent potential confusion or legal issues later. Follow up with tenants via email or regular USPS mail. Email is the most efficient follow-up method.

Make it as simple as possible

Coordinating rent increases, facilitating communication, and managing potential tenant turnover can be complex touchy. A good real estate management company is well-equipped to handle this task—they keep up-to-date on market prices, are well-versed in writing rent increase letters and lease renewals, working (and negotiating) with residents, and handling turnover.

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Investment Property Management Fulton County Georgia

Investment Property Management Company in Fulton County Georgia If you are a real estate investor in Fulton County Georgia in search of a professional rental property manager give us a chance to show you why we are the best! You can be looking for Property Managers near Fort Worth, Texas or Property Management Company near Arlington, TX a lot of rental property owners will concur that you consider RentVestPM.Con. With more than [...]

2019-09-16T11:11:15+00:00