Investment Property Manager in Edgewood Atlanta Georgia

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If you are a real estate investor in Edgewood Atlanta Georgia searching for a top rated rental property management firm give RentVestPM.Con a chance to show you why we are the best…

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Regardless you are searching for Property Manager in Phoenix, AZ or Property Management Company in Kissimmee, FL many professionals will recommend that you consider RentVest. With more than thirty thousand tenants and over than three thousand rental property owners in our books across 6 states we are trusted property manager in Edgewood Atlanta Georgia… that has you covered. Whether you have one investment property or four if have hired a property manager in the past you may know by now that not every investment property manager is the same.

Great Things About Hiring An Investment Property Manager in Edgewood Atlanta Georgia

Should you be someone that is presently participating in or planning on purchasing rental property, you have made a good decision. Still, property management will be a round the clock job. It is certainly not a hands-off investment. That is unless you employ a property manager. Following, we will be discussing some of the advantages of working with an investment property manager for your investment property in Edgewood Atlanta Georgia.

  1. Save Your Time: Maybe the chief advantage that comes with engaging a property manager to manage your investment property involves the time that you will save. As mentioned, managing rental property will be a full time job. After all, you will end up liable for choosing tenants, collecting rent, and in many cases landlord duties. Rather than having to be concerned about all this, you can simply sub-contract the management of your residence to a qualified property manager in Edgewood Atlanta Georgia to free up some time that one could spend doing other stuff.
  1. Leverage Their Experience: Another major benefit that you can get from getting a property manager for your investment property would be the capacity to benefit from their experience. By hiring a property management company in Edgewood Atlanta Georgia that is certainly local for your investment property, you should be able to get tailored and expert consultancy to help make your premises far more popular with renters. In addition to this, they will be able to better market your property inside the community which can make your property bringing in the cash-flow.
  2. Screening for Renters: Final great benefit that comes with hiring a skilled manager to your property is being able to hire someone with the skill of looking for tenants. This is also true if you are searching to obtain long-term tenants. You need to properly vet your potential tenants to make sure you can easily find someone that is not going to leave your premises damaged and that they will be able to make on-time payments. Having a skilled manager deal with this for you personally can really help decrease the risk connected with your rental property.

In the end, hiring a seasoned property management company for the investment property can be a wonderful way to help make your investment a much less hands-on investment which may clear up time and help you save the anxiety of daily management tasks. At the end of the day it is vital to ask about what is important to you during the hiring process. Or better yet, if have done some type of due diligence prior the interview. If you have additional questions, please, take a look our blog. There you will find blogs addressing topics like how property management and advantages of hiring the right investment property manager in Edgewood Atlanta Georgia, but better yet why don’t you give us a call…

Article of Interest to Those searching for Property Management Companies in Edgewood Atlanta Georgia

Multifamily Trends to Watch in 2020

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High demand for rental properties is expected to continue in 2020 according to new industry estimates reported by GlobeSt.com. High population growth, increasing obstacles to home ownership, and a growing preference for the conveniences and amenities renting offers are adding one million renter households annually to the housing market.

To compete, multifamily project managers and landlords will need to understand their customers’ preferences to stay a step ahead of their competition and attract and retain residents in their communities.

A new report from NMHC and Kingsley Associates provides the latest research on the preferences of renters bases on survey results of more than 250,000 multifamily residents in the U.S., revealing which apartment and community features they won’t rent without, which they value most, and the latest trends that will affect their decisions about where they choose to rent in 2020.

Property managers preparing their growth strategy for next year will benefit from taking into account the following six factors revealed to matter most to renters.

Management Quality

Renters tell us that the quality of their rental experience is not limited to the unit they occupy. Frustration with the quality of management at their community is the reason 31 percent of residents report for moving to a different apartment—the second most common reason noted.

Improving the resident experience is a cost-effective way to attract and retain more residents, as it requires modifying your management company’s practices rather than investing more funds into upgrades.

Begin by listening to renters’ needs and collecting feedback through surveys and resident reviews. Identify common problems noted by renters and zero in on making changes to correct these issues and help prevent them from resurfacing in the future.

Make sure to pay attention to your community’s online reputation as well. Seventy-two percent of renters in the report stated that they visited an apartment listing site in advance of contacting the property manager for a viewing in their apartment search. Seventy-nine percent of those respondents said ratings and reviews on each site they visited influenced their decision to avoid visiting one or more apartment communities, and 85 percent stated that ratings and review content influenced their leasing decision.

When residents leave negative reviews on apartment websites, they generally expect a response. A well-crafted response that provides insight and a solution to the resident’s complaint can be invaluable toward preserving your brand reputation among both existing and prospective renters. Keep an eye on your rankings among apartment review websites. A 3.5-star rating or below is all it takes to turn away prospective renters.

Affordability

While many of the features and amenities noted in the report may drive up rent prices, affordability is still the primary concern among many renters. In fact, lower rent is the top reason 47 percent of renters noted as their reason for moving to a different apartment community.

As rent rates continue to climb nationwide, affordability has become a major concern. According to John Burns Real Estate Consulting’s rent index, which measures apartment rent valuation based on the long-term median ratio of rents to incomes, it suggests that about half of the major markets in the country are overvalued by more than 5 percent and many by 10 percent or more.

Depending on your rental property’s location and the property classes included in your portfolio, a greater emphasis on affordability over amenities may pay off in the coming year.

In-unit Amenities

When considering the most strategic in-unit amenities to add, focus on amenities that are relatively low cost to implement but offer a high perceived value for renters. Amenities that offer the greatest level of convenience in the day-to-day lives of renters.

In-unit washers and dryers are a high priority among renters, 91 percent of whom noted an interest in having this feature, and 55 stating they would not rent without it.

Ninety-two percent of renters expressed a desire for a garbage disposal, and 56 percent said they would not rent without it. As a garbage disposal is a fairly inexpensive addition, it may be a good add-on.

Ninety-percent of renters noted an interest in a dishwasher, and 63 percent of them would not rent without one. Eighty-six percent of respondents expressed interest in a microwave, with 47 percent stating they would not rent without it. Considering the relatively low cost of offering a microwave, especially a countertop unit, a microwave would make a great resident welcome gift.

Other inexpensive amenities with a high perceived value among renters include in-wall USB ports and smart thermostats, both of which show a 76 percent tenant interest. Sixty-one percent of renters are interested in TV wall mounts, which are very inexpensive add-ons. By installing wall-mounts in your units yourself, you can also ensure they are installed correctly and avoid the risk of damage or injury when renters attempt to install them.

Connectivity

In this digital age, it should come as no surprise that renters prefer apartment communities where internet access is readily available to multiple connected devices. The number one community amenity in which respondents expressed interest is reliable cell reception. Ninety-one percent of all renters noting it as important, or very important in their decision to rent and 44 percent stating that they would not rent without reliable cell service.

Many prospective tenants will actually check the quality of a community’s cell phone service during their pre-leasing walk-through.  Forty-seven percent of all renters stated that they check the connectivity of their mobile phone while touring communities.

High-speed internet access is also a top priority among renters, coming in 4th place as a highly-ranked rental feature. Ninety-two percent of renters expressed interest in high-speed internet and 48 percent stated that they would not rent without it.

In addition to the widespread frequency of remote work, High-speed connectivity is important to renters due to the popularity of online streaming services for home entertainment.  Sixty-four percent of renters currently utilize streaming services, while only 43 percent use cable, only 5 percent rely on an HD antenna, and only 4 percent use satellite.

Secure Package Delivery

Most multifamily property managers already realize the impact that the rise of e-commerce has created a demand for secure package delivery options in residential communities. Recently released shipping index highlights from Pitney Bowes shows steady growth in package delivery numbers, and 2020 is expected to surpass 100 billion package deliveries worldwide.

As renters receive more packages in record numbers, it’s no surprise that 84 percent of them noted an interest in secure, self-service 24/7 package access as a priority amenity. Seventy-six percent of respondents said they prefer package lockers for self-service pickup, compared to only 10 percent who stated they prefer a package room for pickup.

The number of packages that tenants receive monthly is also on the increase, with 39 percent of renters receiving on average 1-2 packages per month, and 34 percent receiving 3-5 packages per month. Twenty-one percent of residents receive 6 or more packages per month.

Mobile Access Resident Portal

Considering renters’ growing demand for constant mobile connectivity, it should come as no surprise that this preference extends to residents’ expectations for interacting with property management personnel at their rental community. Overall, 81 percent of all respondents stated that it is important to be able to access their resident portal from a mobile device. Sixty-four percent signed their current lease digitally, and given the choice, 58 percent of renters prefer to pay rent using a resident portal mobile app than a property website via laptop/desktop.

Read more about the 2020 NMHC/Kingsley Apartment Resident Preferences Report by visiting the National Multifamily Housing Council. View the methodology used to gather the report’s statistics here.