What Are The Responsibilities Of A Property Management Company?

Suppose you are managing your rental property, which is in Atlanta. You don't have any idea regarding the job of the property management company. But you are in desperate need of a property manager of management of property in Atlanta. So, before hiring a property management Atlanta company, you should know about the task they perform and how they handle things like rent collection and tenants. Some points have been highlighted Below, which will help you decide how to find a property manager and its primary responsibilities.

4 Key Responsibilities Of A Property Management Company

Marketing & Leasing: 

When you first hire any management company, there should be an initial walk- through video of the home. The walkthrough video should include repairs and updates. These recommendations help improve homes to attract better tenants and decrease the dry spell of extended, odd vacancies. It also includes needed repairs to bring the house to move-in ready status and comply with any regulations like smoke alarms or door locks. The property manager's job is to market effectively so that your home can rent quickly and easily. It includes photos, videos, websites and showings. 

The property management companies should be skilled enough to rent your home at a proper price. There should be examples of photos they take on their website or page. Photos should showcase each room and have enough lighting. The photos should highlight all the space in the home and its desirable features. The managers will post the photos of your home on their website and popular listing sites such as Zillow, Trulia etc. You may receive applicants through the uploaded photos who will be responsible for selecting the tenant and drafting the lease.

Screening & Selecting Tenants: 

The tenants who qualify for the screening test will be eligible to be the property manager. A similar procedure is applied for property management in Atlanta. It signifies that they will typically run credit checks, contact rental references, and do a background check. Some companies even choose the first qualified, while others will select the best qualified from a handful of applicants. 

It should be noted that the established property management companies should have written rental criteria. The written rental measures include the outlines of what they consider when selecting a tenant. This document helps you, the owner and tenants to see why they failed to leave an impression on the board members. Not only this, but it also decreases the chances of claims of a fair Housing violation if the property manager can point to published criteria as to why an application was denied. The documents also include any required disclosures, such as notices about lead, asbestos and bed bugs. You may also add your lease, such as utilities and services like landscaping and pool cleaning the tenants are responsible for or for any pests.

Maintenance: 

The property manager must handle all the maintenance-related issues of the property. It includes initial repair and improvement to make the property rent ready after hiring them as your management company. Some property managers have a contractor license and operate their maintenance team. They need to have a process for maintenance requests. Most property management firms have a strategy for tenants to submit maintenance requests, including after-hours emergencies.

Rent Collection & Accounting: 

The company's primary role is to collect rent from the tenants. Some companies hire a specified property accountant for this role. It is the prime role of the accountant to ensure that everyone is paid and will enforce late fees for those that do not. If a tenant refuses or neglects to pay rent, the company may go through eviction. The attorney will assist them during this process though most homeowners are responsible for the legal fees. Always clarify whether the company does whole month or mid-month accounting. This will affect when you are paid each month and keep your records. They will also set the security deposit for the tenants. If the tenants move out, they will deduct the necessary fees and return the rest to the tenant following local regulations.

Conclusion: 

The above points highlight the responsibility of a property management company. If you need to hire a property manager, the above steps will help you.