Investment Property Management Company Serving Forest Park Georgia

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Are you a real estate investor in Forest Park Georgia in search of an affordable property management firm give us a call…

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Whether you are searching for Property Managers in Clearwater, FL or Property Management Company in Colorado Springs, CO the consensus are that you should take into consideration us. With more than 30,000 tenants and over than 3,000 owners in our porfolio in six states we are trusted property manager in Forest Park Georgia! that has your back. Whether you have one rental property or two if have dealt a rental property management firm in the past you probably know by now that not every rental property manager is the same.

Advantages Of Hiring An Investment Property Manager in Forest Park Georgia

Should you be someone who is participating in or considering investing in real estate, you have made a good decision. However, property management is a round the clock job. It is certainly not a remote investment. That is unless you use a property manager. Below, we will be going over many of the advantages of hiring an investment property management company for your investment property in Forest Park Georgia.

  1. Time Saver: Maybe the chief advantage gained from employing a property manager to deal with your investment property is related to the time that you will save. As noted, managing rental property can be a a full-time assignment. After all, you may be responsible for choosing tenants, collecting rent, and in many cases landlord duties. As an alternative to having to worry about all this, you could simply contract out the management of your property to a experienced property management company in Forest Park Georgia to clear up time that one could spend doing other activities.
  1. Leverage Their Experience: One other benefit that you can get from working with a property magement company for your investment property will be the capability to leverage their experience. By employing a property manager in Forest Park Georgia that may be local to your investment property, you should be able to get tailored and expert advice to make your home much more appealing to renters. And with this, they should be able to better market your property from the geographic area which may keep the property attracting the money-flow.
  2. Looking for Tenants: Final excellent benefit gained from employing an experienced management company to your property is having the ability to hire someone who has experience with finding tenants. This is also true if you are searching to have long-term tenants. You want to effectively examine your potential renters to make sure you can easily an individual who is not gonna leave your property destroyed and they can 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 your investment property could be a terrific way to make your investment a lot less hands-on investment that may clear up some time and help save the stress of day-to-day management duties. With that said it is key to ask about what is important to you during the interview process. But it is even better, if you do your homework prior the meeting. If you have additional questions, please, check out our blog. There you‘ll find blog post addressing topics like property management reviews and benefits of hiring the right investment property manager in Forest Park Georgia, but even better contact us.

Post of Interest to Those looking for Property Management Company in Forest Park 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.