Atlanta Property Management for Investors and by Investors ALH|Podland Realty is a licensed Real Estate Company. Atlanta Property Management and Real Estate Investing is our only business. Our goal is to provide maximum return on investment for property owners and investors and quality rental housing for the community.We help our clients acquire, remodel and manage their real estate portfolio and help them maximize returns on their investment.
Wednesday, November 30, 2016
Tuesday, November 29, 2016
Realizing the Benefits of Atlanta Property Management
Realizing the Benefits of Atlanta Property Management
Many times property owners question Atlanta property management services because of the fees. Now with a distressed economy, this can become an even bigger question when a difficult market puts investment finances to the test. After quoting our fees to a prospective client, we often hear, “you want that much money for just collecting the rent?” Of course, there is much more to managing rental property than just collecting the rent, and we are sure that you realize this as well.
Although our management fees show up prominently on our statements, if you look at the complete picture, the costs are absorbed in many ways.
Tax Benefits
The most obvious benefit is that all management fees are tax deductible, reducing the full cost of the fees. Be sure to report all fees to your tax person so you can take advantage of these important deductions.
Reduced Maintenance Costs
Lower maintenance costs can offset management fees several ways. We start by taking the “preventative approach” to maintenance; this can mean great savings over time because it can prevent large repairs or even major maintenance. For example, installing doorstops can prevent big holes in walls and fixing faucet leaks can avoid dry rot in cabinets and flooring.
Because our company handles maintenance on a volume basis, we are generally able to procure reliable contractors at a better rate than many property owners can, particularly if they do not live locally.
However, preventing major maintenance is not always possible. It is vital for us to keep current on what labor and maintenance costs should be since this is part of daily management. For example, if an owner has not shopped for a roof replacement in years, they may be unaware of current prices and newer materials. They could pay more than they should for the job and still not obtain the best workmanship. A savings on a major repair can add up to several monthly management fees.
Professional Expertise
A major benefit to our Atlanta management services is our professional expertise and we get our expertise as members of the National Association of Professional Property Managers where we take classes and improve our knowledge on a monthly basis.
Moreover, knowing and implementing current legislation can reduce costly mistakes when handling tenants. There are owners that have paid, literally, millions of dollars because of mold, lead-based paint, and other similar lawsuits. Again, we use a preventative approach to save you unnecessary legal costs. A good example is that most property owners do not know they have new requirements for work concerning lead-based paint that took effect in April 2010. The courts do not accept ignorance of the law and fines are far more than the management fee paid to a property management company for several years.
Peace of Mind
Many owners simply find that just having someone else worry about the many details of property management is simply worth the management fee. Avoiding unpleasant confrontations with tenants when problems arise, handling maintenance emergencies, or serving notices is definitely a way to avoid stress – a benefit to any owner.
We will continue to work to give you the full value of your management fee with our services and reduce unnecessary expenses. In the long term, our management fees will likely increase the return on your investment, make your life easier and save you money on repairs and maintenance.
Marina Shlomov, a managing partner at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.Monday, November 28, 2016
How to Choose a Property Manager
 |
| How to Choose a Property Manager |
How to Choose an Atlanta Property Manager
Not all Atlanta property managers are created equal. It can be an unscrupulous industry, and even well meaning Atlanta property managers may simply not have the resources to help you navigate the complex demands of today’s rental market. Here is a checklist to help you determine whether an Atlanta property manager is right for you.
- Local expertise.Your property manager must be a local expert when it comes to market rates in various local neighborhoods, the best advertising outlets in the area and how to make sure you are in compliance with local and state codes and landlord/tenant laws.
- Fairly priced—with no hidden costs. A discount property manager can cost you when it comes to longer vacancies, more expensive maintenance, legal problems and costly mistakes. Saving a few dollars a month in management fees can sometimes cost you hundreds—even thousands—over the course of the year. The right property manager won't always have the cheapest fees, but will always get you a better return in the long-term.
- Strong marketing strategy. Ask your property manager where your rental unit will be advertised, and expect a lengthy answer. In today's market, faster leasing depends on being everywhere at once—dozens of online listings, local papers and venues, attention-grabbing signs and more should be included for every vacancy, and in place in less than a week.
- Cost-conscious maintenance. Small property management companies often don't have the clout to demand national discounts from vendors, yet maintenance is a necessary part of management and retail pricing can add up. Your property management company should never pay top dollar, and any savings should be passed on to you. Plus, a professional property manager is always looking for ways to prevent larger maintenance issues, provide cost-effective repairs and keep tenants happy to reduce vacancy rates.
- 24/7 transparent reporting.Will the property manager provide round-the-clock access to reports on accounting, rents, vacancies, inspections and maintenance? Will you have access to photographs and documents online? Like many other industries, property management is now a technology-driven field, and you should expect the information you need—on demand.
- Fast owner disbursements.How soon will you receive your rent payments? Is direct deposit an option? How do trust accounts work? You should never have to wait 30+ days to receive your rent, electronic options are a must and a fully transparent trust accounting system is essential.
- Experience in the complexities of property management.Residential property management is a tough industry that requires extensive experience in marketing, leasing, maintenance, collections, evictions, accounting, inspections and legal matters. Many small property management shops simply do not have the resources to give each of these areas the attention needed to maximize your investment and help you avoid costly mistakes.
- Accounting support.Cleared monthly financial statements, annual tax documentation and centralized accounting for multiple properties should be standard for every client. You should expect your property manager to provide all of the information you need to evaluate your investments—whether you own a single home or a large portfolio of properties—and make tax time easier.
- Legal and regulatory compliance.Does the property manager have an attorney on staff and a team who is well-versed in the city, county and state codes and laws that impact rental property owners? Are they experienced in collections and eviction law and understand the timelines to ensure your property is ready to re-lease as soon as possible when an eviction is needed?
Don’t fall for gimmicks or discount services—a professional property manager has the knowledge, the experience, the technology and the commitment to get you the best return on your investment properties.
To find more info on rental homes, Atlanta property management and property management in general, please visit our website or call 404-937-1850.
Marina Shlomov, a managing partner at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.Sunday, November 27, 2016
Terrific Tips About Investing In Real Estate
Terrific Tips About Investing In Real Estate
If you have the knowledge, it is possible to make lots of money in real estate investing, but it is also quite easy to lose great lots of money as well. Success starts with basic individual tips on the mechanics of investing in real estate. Read on to learn what it takes to be successful at real estate investing.
Don’t think that you always have to pay the list price for a piece of property. Many times an owner will make the price higher than it should be because they expect people to try and negotiate with them. Best deal are not found on your Atlanta FMLS (even though sometimes its possible to find a great deal), mostly, your best Atlanta investments deals will come from people you know, real estate agents, Atlanta property managers, or even your friends.
A fixer-upper may be cheap, but think about how much you will have to spend to renovate the property to bring it up in value. If the property only needs cosmetic upgrades, it may be a good investment. However, major structural problems can be found once you get into the renovation and will throw you off your budget in a heart beat. We've just recently had exactly this type of project and ended up spending $75,000 more than we planned! We are not loosing money on this flip, but this surprise has eaten into our profit a big time.
Don’t let your emotions be your guide in real estate investing. What you want personally certainly plays into home buying for yourself, but not for investing your money. Stick to what can make you money, and that is it. Always compare a property’s purchase price versus what you can make from it in terms of rental or fixing up and selling.
If you looking for a longer term investment and an income property, try seeking out a company involved in Atlanta property management. Even though their fees will eat into your profits, in the end, it can be a wise investment. The Atlanta property management company will market, screen your potential renters, do all the leasing, accounting, move in and move out inspections and handle any repair issues. Using an Atlanta property management company, allows you more time to search for new investment properties and opportunities.
Before you buy any investment property, you must evaluate the neighborhood where you plan to buy. The property itself is important, but in Atlanta, location of the property is crucial. It can make a difference in a flip of $200,000 or an extra or reduction of $1500 in monthly rent. Talk to as many neighbors as you can so you can get a feel for the neighborhood and if it will be possible to rent it quickly.
If you want to buy lots of properties and hold them as rentals for the next 5 to 7 years, be sure to analyze the area where you want to invest in thoroughly. Look at the past statistics, old prices - before the market crash, and new prices over the last few years. Look at appreciation trends, rental price trends, property taxes and any new development that might be approved in the area.
Keep reading articles about investing in Atlanta real estate, speak to Atlanta property management companies, get advice of your peers and experts.
As your Atlanta property management company, we have the expertise to handle these important issues. We know where to buy, what to buy and if you are getting a good deal on your investment property in Atlanta. Give us a call if you are looking for investment properties in Atlanta, Ga. 404-937-1850.
Marina Shlomov, a managing partner at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her Atlanta property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.Atlanta Property Managers Guide to Risk Management & Habitability
Atlanta Property Managers Guide to Risk Management & Habitability
Professional Atlanta Property Managers take time to educate themselves with definitions of "Habitability" and how it applies to Georgia Tenant Laws. I wanted to take a little bit of time to share some of that information with landlords and investors who may have not paid as much attention to "habitability" as they should. What is habitability and why is it so important? Essentially, it is anything that endangers the livability of the property and the health and welfare of the tenants. Many common issues are lack of heat, running water, major roof leaks, unsafe electrical, carpeting, stairways, or sidewalks, etc.
When an Atlanta property manager is renting a property to others, whether a house, an apartment building, a condominium, etc., it is under the assumption that it complies with an “implied warranty of habitability.” Simply put, this means that the property you are renting is structurally safe for human habitation. An owner must prove basic criteria for “implied warranty of habitability.”
▪ The property is to be structurally sound, meaning it does not contain pest problems, holes in the walls, ceilings, or floors, and is safe for occupancy. A home that has any of these problems, or that does not provide adequate protection from the elements, is not considered fit for occupancy.
▪ Known hazards or problems within the dwelling that might make it unsafe for tenants, such as asbestos insulation, lead paint, carbon monoxide leaks, or problematic plumbing. When renting a property, the owner implies that there are no hazardous aspects to the dwelling.
▪ It is necessary to provide a working bathroom. Therefore, properly working bathroom fixtures, such as a sink, toilet, and bathtub or shower, must be usable for it to be fit for occupancy.
▪ A consistently recurring problem may not fit the implied warranty of habitability. For example, if there is a problem with lack of heat, this is a breach of the implied warranty of habitability.
If a problem exists and the property owner does not provide the maintenance required to solve the problem, it can lead to a lawsuit filed for “breach of implied warranty of habitability” and is subject to the collection of punitive damages. The court has a very dim view of property owners that ignore the safety of their tenants. The court puts the burden of proof on the owner, not the tenant.
Over the years, courts have made many habitability rulings based on the Georgia Uniform Residential Landlord and Tenant Act, the URLTA. When faced with a difficult case between Landlord and Tenant, a judge will often consult the many points of this Act before rendering a decision. A number of states have based their statutory law on this act or the Model Residential Landlord-Tenant Code. Interpretations can vary with different judges and in different states. In addition, states will often model their legislation on rulings based on those of another state. Many people are unaware of the existence of these acts and their impact on tenant relations.
Landlord-tenant law in the United States originated from English common law developed within an agricultural society. The URLTA stems from this. The basic purposes of the act were to:
- ▪ Simplify, clarify, modernize, and revise the laws governing the rental of dwelling units and the rights and obligations of landlords and tenants
- ▪ Encourage landlords and tenants to maintain and improve the quality of housing
- ▪ Make uniform the law with respect to the subject of this Act among those states that enact it
- ▪ There are many specific definitions included such as good faith, building, and housing codes, dwelling unit, landlord, owner, person, premises, rent, rental agreement, single-family residence, tenant, etc.
Unfortunately, there are many cases where landlords have ignored maintenance concerning “habitability.” These actions have led to major court decisions. This in turn has produced more Fair Housing laws, lead based paint requirements, mold legislation, and more, all of which have a far-reaching impact on investment property.
As your Atlanta property management company, we have the expertise to handle these important issues. We make habitability a primary concern to protect your investment and to comply with Georgia Habitability Laws.
Marina Shlomov, a managing partner at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her Atlanta property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.
Subscribe to:
Posts (Atom)