Property Management Companies Chamblee Georgia

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Are you a real estate property owner in or near Chamblee Georgia? Ask yourself, do you know what your current property management company is going to charge you next month?

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Welcome to RentVestPM.Com’s all new website if you have been searching for a reliable property management firm in Chamblee Georgia you have found the right site. The number of property management companies in Chamblee Georgia is quite substantial. However, whether you’ve had a good or bad experience RentVest Property Management would like to show you how we make owning a rental real estate property easy.

What exactly do property managers in Chamblee Georgia do? Are you aware what Property Managers do? The truth is they perform several functions, with one of the main things being rent collection. Collecting rent can be a demanding task for many propery owners. The greater tenants they may have to manage, the greater the challenge it is to keep up to date with rent collection, but property managers see about the whole rent collecting process.

In addition they see about repairs issues. By way of example, they may send someone out to take care of regular repairs or arrange for upkeep services when they are needed. All you need to do is agree to payments or pre-approve payments before-hand, doing this the manager of the property doesn’t need to contact you each time fixes has to be done.

Finding prospective renters who can pay their rent punctually is an additional thing property managers see about. They may run credit checks, conduct interviews and carry out a thorough security check. They are aware of what to look for with regards to choosing renters.

Bookkeeping is normally included with the services provided by property managers. They may maintain correct files, which is useful when the time comes to file taxes. Accounting is not really a fun task, but it needs to be done and it must to be done correctly, which is one of the reasons property owners propably hire property managers.

Hiring a Property Management Company in Chamblee Georgia.

Getting a property management company costs money, nevertheless it will save you time and effort. When you have homes that you own and rent out to renters, whether they are businesses or residents, then there are many things to deal with. If it’s only 1 or 2 units, maybe you can stay abreast of all this, but if you get more than that, things get complicated very fast, and having a property manager will be a full-time job, which is that thing that you were looking to prevent or have.

A property manager stands between you and the tenents, handling calls with tenants, maintenance requests, yard work, and in many cases finding and putting out tenants when required. In exchange, the home management firm collects a percentage of the rent for their time, before giving the remainder to your account.

As a property owner, your profit margin falls, but your schedule becomes completely free. Additionally, good property management services are definitely worth the money considering how they can remove bad renters that cost you money, maintain your properties in good condition, and discover stable tenants that lessen your vacancy rates and provide you with reliable and steady rental income.

RentVestPM.Com domination more than 12 markets as taking many other property management companies in Chamblee Georgia by surprise. The truth is that Chamblee Georgia rental property owners had been looking for a affordable property management agency in Chamblee Georgia for some time now but he appears that they were not paying attention. RentVest PM is the firm of chores for many real estate investment property owners throughout Chamblee Georgia and we would like the opportunity to show you how we can save you money on your rental property management. Those looking for additional details on the services we offer at RentVest Property Management please visit our property management experts blog.

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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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