Property Management Companies Lithia Springs Georgia

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Are you a real estate rental property owner in or near Lithia Springs Georgia? Ask yourself, are you paying to much to manage your property?

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If you are looking for a affordable real estate property management company in Lithia Springs Georgia RentVest welcome you! Lately the number of property management companies in Lithia Springs Georgia has bloom

Exactly what do property managers in Lithia Springs Georgia do? Do you know what Property Managers do? The reality is they perform several functions, with the main one being rent collection. Collecting rent could be a demanding task for most propery owners. The better tenants they have got to look after, the greater the task it is to keep up to date with rent collection, however property managers manage the whole rent collecting process.

Additionally they manage repairs issues. As an example, they are able to send a repair person to take care of regular repairs or arrange for repairs services if they are needed. All you have to do is approve of payments or pre-approve payments in advance, doing that the property manager won’t need to contact you each time repairs is required.

Finding prospective tenants that will pay their rent on time is yet another thing property managers take care of. They may run credit checks, conduct interviews and carry out a complete background check. They are aware of what to look for with regards to choosing tenants.

Bookkeeping is generally included with the help provided by property managers. They can maintain accurate records, which come in handy when taxes are concerned. Bookkeeping is not a fun task, but it must be done and it should to be done correctly, which is the major reasons landlords should hire property managers.

Employing a Property Management Company in Lithia Springs Georgia.

Hiring a property management firm can cost you money, but it really can save you lots of time. When you have properties which you own and rent to tenants, be they businesses or residents, then you have many things to care for. If it is only a couple of units, maybe you can stay on top of all this, however when you have more, things might get problematic very fast, and property management would become a full-time job, which is that thing you have been attempting to escape or curently have.

A real estate manager can stand between you and the tenents, handling talks with tenants, maintenance requests, yard work, and even finding and turning away tenants when necessary. In exchange, the rental property management firm gets paid a share of the rent for their time, before paying the rest to you.

As a property owner, your profit margin decreases, but your schedule is totally free. Also, worthy property management services are really worth the money considering how they may do away with horrid renters that amount to money, make your properties in good shape, and find reliable renters 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 Lithia Springs Georgia off guard. The reality is that Lithia Springs Georgia property owners had been asking for a affordable property management company in Lithia Springs Georgia for some time now but he appears that they were not paying attention. RentVest PM is the company of chores for many rental property owners throughout Lithia Springs Georgia and we would like the opportunity to show you how we can improve the ROI of your real estate investment property. Those looking for additional details on the services we offer at RentVest we encourage you to visit our blog…

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Why the Lucrative Property Management Industry is Booming

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According to Rental Protection Agency’s (RPA) real-time Rental Clock,  there were more than 113 million renters and more than 23 million landlords in the U.S. as of Oct. 7, 2019. RPA also reports that 2,654 new tenants enter the rental market every day, compared to the daily new landlord tally of just 544.

With numbers like these, it’s no wonder that property management companies are booming in today’s market and will continue to flourish down the pike.
So what is the driving force behind the property management industry’s ascendency in the residential real estate market?

Below are four reasons why property management businesses are prospering in today’s market:

Rental prices increased steadily since the 1990s

Data collected by the United States Census Bureau reflects rent prices have steadily increased since the 1990s with no significant fluctuations. Even during the 2008-2011 recession as the for-sale home market tanked, rental asking prices continued to increase steadily.

For-sale prices, on the other hand, fluctuate dramatically in response to a variety of influences like market volatility and swings in nation-wide housing markets. During the recession, for-sale home asking prices dropped nearly $50,000.

Rental properties are significantly less risky than flip properties for real estate investors, plus they provide the opportunity to earn passive income that many investors desire. As first-time and experienced real estate investors hustle to take advantage of the statistical security a buy-and-hold strategy offers, property management companies will benefit from the growing demand for their services.

Nearly one-third of occupied homes are rentals

Additionally, the  U.S. Census Bureau that 31.5 percent of occupied houses are rentals. While owner-occupied homes account for 56 percent of the market, that gap is shrinking and rental vacancy rates have been decreasing steadily since 2009.  In contrast, home ownership rates reached a 50-year low in 2017 and, according to Crain’s Cleveland, and fell to the lowest level since 2017 in July of this year as rising home prices and a short supply of starter homes put buying out of reach for many renters.

For both real estate investors and property management companies, this means increased profits as Baby Boomers, Millennials, and Gen Zers elect to rent instead of buy. As demand for rental properties continues to increase and investors proceed to fill that gap, demand for property management companies will continue to grow.

Continuous innovations in technology streamline property management

As the lucrative property management industry continues to grow exponentially, shrewd tech businesses have kept up with demand for software to assist efficiency. Property management is a tough business—it’s a physically and mentally demanding, 24-7 type of business model. If and when anything unexpected happens at a rental property—a pipe bursts, the HVAC system quits, a water leak starts gushing—the property management team is responsible to take care of it immediately, day or night. That requires the property management company to have skilled, reliable staff near each managed location, an efficient strategy for communicating with tenants, employees, and local contractors, and a system for managing everything behind the scene.

Tools like Appfolio (a property management platform for long-term rentals)  and Guesty (for short-term rentals) provide property managers with the ability to automate tasks, streamline communications with homeowners, tenants, and guests, schedule maintenance and unit cleaning services, and organize portfolios easily from a laptop, tablet, or mobile device.

Vacation rentals are outpacing the hotel industry.

In 2016, Vacation Rental Marketing Blog (VRMB) predicted that by 2020, vacation rentals would eclipse the hotel industry. While hotels remain abundant in every U.S. city in 2019, it appears that VRMB may have been inordinately hasty with their forecast, they weren’t entirely off-track. For instance, Airbnb is currently the second-largest lodging company in the world—trailing Marriott International by a mere 100,000 units according to str (formerly Smith Travel Research). And as of October 2019, Airbnb has acquired 150 million users, boasting more than two million guests in Airbnb accommodations every night. Travelers who’ve stayed in an Airbnb rental are motivated by the practical benefits (low cost, convenient locations, and household amenities) are increasingly less likely to go back to hotels. This equates to heightened demand for property management services for vacation rental properties.

There’s no telling whether vacation rentals will completely eradicate the hotel industry, although they’ve clearly disrupted the hotel industry. But make no mistake, vacation rentals are a driving force in the hospitality industry. Additionally, hotels don’t need property management teams to oversee their properties, vacation rental investors often do, creating yet another market of opportunity for entrepreneurs adventurous enough to dive into the property management business.

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