If you own a rental property, you’ve probably realized that personally handling all of the property owner and manager responsibilities yourself isn’t the most efficient use of your time or resources. That said, you still have an important decision to make once you’ve decided to outsource those responsibilities to somebody else. Will you choose an on-site representative or an off-site property management company?
In the case of community housing, an on-site property manager generally lives in the property in question, usually in one of the units. That means that you are giving up the potential revenue you could otherwise receive by renting that space. For single-family homes, you might hire a manager who lives nearby that can get to your property faster than you. In this case, you don’t give up your rental space, but in both situations, the manager is your employee, meaning that you are responsible for paying their salary, health insurance benefits, and any work-related expenses. If they get sick or want to take a vacation, it falls on you to fill in.
In contrast, a property management company, such as Specialized Property Management Atlanta, generally operates out of a local office. You either pay a flat monthly fee or a percentage of the rents you collect, making it easier to shield your budget from unexpected costs. The cost of paying for a management firm is also usually tax-deductible. We also have multiple employees, ensuring that somebody is available to cover if the usual point of contact is unavailable.
SPM Atlanta also offers more scalability than on-site or nearby managers. On-site personnel generally only have the bandwidth to manage the property they live in or near, forcing you to hire somebody new almost every time you acquire a new rental property. Interacting with your team of on-site property managers could end up eating a significant portion of your day. Bigger companies, like SPM, can simply add new properties to your account as you buy them, making it much easier to amass large holdings.
Maintenance is inevitable no matter what kind of property you own, but we can help you cut down on the associated costs. We have the resources to thoroughly vet potential contractors, ensuring that tenants receive premium service. Furthermore, management companies can sometimes leverage their scale to negotiate below-market rates for everything your tenants need, saving you money. Unfortunately, on-site managers are forced to pay retail prices for everything they need and may cut corners by handling repair jobs themselves.
Specialized Property Management Atlanta also gives renters the option to pay their rent online, making it more convenient for them and you. An on-site manager could knock on doors on your behalf, but the process would be just as inefficient as if you were doing it yourself. Here at SPM Atlanta, we offer more reliable service, superior pricing on labor and products, improved scalability, and more convenient rent collection. We can also help you quickly fill vacancies with qualified candidates, something that is often difficult for a single property manager to do. To get a quote, feel free to contact us online or call us at 404-596-8429.
