Property Management Companies Orchard Knob Georgia

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As of late the number of property owners looking for a reliable investment property management agency in Orchard Knob Georgia has become a trending subject on social media.. At the time of deciding on a company for managing rental property there are quite a few factors to analyze. While buying real estate can be very advantageous, purchases of the type can be tough to take care of. That is why it’s wise to use a firm that focuses on managing investment real-estate. The correct firm are able to execute several essential tasks for the property owner.

The proper management firm are able to manage a range of issues, including portfolio management, property management and asset management. Many companies give additional support services, which includes accounting services, plus an IT department.

These firms also bring significant amounts of knowledge and experience to the table. Other companies focus on specific types of property management, for example luxury homes or multi-family homes. Each property management establishment needs to have a good comprehension of the marketplace along with the requirements for the sound real estate investment.

Hiring the right management company will also offer you many opportunities. There are businesses that allow financiers to group their financial resources, that may offer you entry to investments that would have otherwise not been available to you personally. If you wish more investment options, by using a company is the best choice.

Spend some time to find a company that fits all your needs and is capable to giving aid you’re searching for. You will benefit greatly once you begin working with an investment company. Even though not an IT when compared to other property management companies in Orchard Knob Georgia, RentVest is profoundly more sophisticated. Our investment in technology has allowed us to grow into more than 12 cities in just a few years.

Benefits of Using a Property Management Business in Orchard Knob Georgia.

Make time to find a company which fits all your needs and is capable of supplying the assistance you’re looking for. You will benefit immensely once you begin working with an investment company. Even though not a technology company per se when compared to other property management companies in Orchard Knob Georgia, RentVestPM.Com is profoundly more sophisticated. Our commitment to technology has facilitated our expansion into more than 12 markets in half the time it has taken all the national property management companies.

Reasons for Utilizing a Property Management Business in Orchard Knob Georgia
Renting out my home was hard to do on my own. Getting a property manager helped considerably. Not simply did it clear up my time, but it provided me with a lot better returns on the rental. The rental property managers which I ended up employing could handle everything linked to my property rental and they had the ability to choose the right individual and it should not cost me too much money to see about. As they were already using a tested screening process, they had the ability to locate tenants that have been effective at paying on time monthly. It took plenty of stress from the whole rental process and turned our house into a feasible income stream that we can rely on each and every month.

Having to manage your rental home by yourself could be a significant hassle that you want to protect yourself from. Making the decision to hire a property management company can be one of the very best decisions you will be making if you are searching to rent your home or apartment without having it become a full-time project for yourself. A home management company totally took over the day to day running of our house and enhanced the efficiency in the whole process, from start to finish therefore we would do it again in a heartbeat. Something else that we want to point out that even though RentVest is known for Property Management in Northwest Vancouver Vancouver we also offer potential tenants an awesome inventory of rental properties in Orchard Knob Georgia. So, if you are a real estate property owner in or near Orchard Knob Georgia looking for a better ROI we would like the opportunity to show you how to make this a reality. If you would like additional info about RentVest PM please take a look our property management Vancouver 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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