Property Management: A Viable Real Estate Solution

With inventory down and demand up, the most recent news has been favorable for sellers in the Atlanta real estate market. REALTORS® are reporting multiple offers on many properties, while days on the market are decreasing. But what if you’re a seller whose story isn’t having a happy ending after weeks or even months on the market?

When the selling cycle gets long, sellers have a few options at their disposal. After much frustration, and feeling like they have no other choice, many decide to short sell or go into foreclosure. While it’s true that both of these solutions provide relief, the processes can be complicated and the seller runs a risk of negatively impacting their credit rating and their ability to purchase another home in the foreseeable future.

Another more viable solution that many homeowners don’t consider is property management. In all reality, property management can actually be the best and smartest option for seller whose mortgage is underwater, and here is why:

  • Relief From Mortgage – Property management can offer near instant relief from a mortgage obligation
  • Save Your Credit Rating – Property management allows the seller to keep their credit rating intact.
  • Moving Forward – It allows a seller to move into the next home while rates are good and the home they want to move into is still available at a price that fits their budget.
  • Equity Build-up – It allows equity to build up until the home can be sold at market value while somebody else makes the payment.
  • Positive Cash Flow – In most cases, property owners not only have their mortgage payment covered, but also receive positive cash flow each month from their property.
  • Major Tax Advantages – With the significant tax write-offs that a managed property can provide, sellers can actually make money in a property management situation as opposed to losing their home, their equity and their credit rating.
  • Keeping Your Line of Credit Open – Potentially one of the most important advantages to property management is that it keeps your line of credit open for other expenses. This is especially important for the small business owner who may need their credit to run or expand a business.

Seeing a need for high quality property management services in Atlanta is exactly why we started Slyman Property Management. We are confident that you won’t find any company or individual who provides better property management services in Atlanta than we do. We have experience working with different home sizes and price levels. We have an excellent staff and we know the Atlanta home rental market.

There are many things involved in managing property the right way. Our Atlanta property management services include the following activities: First, we will assist you in setting an accurate rental rate. As part of our services, we will help you stage the property, ensuring it looks its best so you can rent it quickly and for the most money possible. Next, we have the resources to market your property on our website and through our network. We’ll take care of the administrative process so you don’t have to including fielding phone calls, screening potential renters, taking applications, completing credit checks and providing and executing lease documents. When it comes to handling necessary repairs, you can rely on our excellent staff to do what it takes to minimize your costs and keep the lease of your home happy. You can count on a “real” person being available 24/7. And perhaps most importantly, we serve as a buffer between you and the lessee so you don’t have to be directly involved.

Call us to talk about property management before you make your final decision. There’s a good chance we can help take that stress off of you. And for investors, we’ll manage your property for you so you can focus on other things. For questions, information or to schedule an appointment to look at your property, call us at 770.405.0100 x222.

 

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Metro Atlanta Demand for Home Rentals Skyrocket, Leads to Increased Opportunities for Real Estate Investors

As the real estate market in Metro Atlanta finds its new identity from the aftermath of the market crash during the first decade of this century, one thing is for certain, anyone having a tough time selling their home or looking to re-build their wealth and profit in an unstable economy should consider investing in real estate for the purpose of property management. In fact, with it becoming increasingly harder for home buyers to get approved on mortgage loans, more and more metro Atlanta families are being force to rent rather than purchase. The result is an increased rental market rate, which in turn, means more money and less competition for property owners with real estate on the rental market.

Property management has become a viable and often times very lucrative option to spending an extensive amount of time attempting to sell with no success.

Paige Slyman has been counseling real estate investors with the purpose of property management for over 2 decades. Once he helps his clients find the perfect rental property, Paige also offers his clients first class property management services. Blending his extensive knowledge and expertise of rental rates in and around all of metro Atlanta, costs associated with property management and what his client’s actual mortgage will be each month, Paige has helped hundreds of clients find a home that will not only allow them to profit each month, but eventually profit when ready to sell.

In closing, as the metro Atlanta real estate market works to re-build its housing market, property management is the answer for many investors and home owners struggling to sell their home. Paige Slyman is in expert in advising his clients in the property management process as well as investing in real estate for the same reason. Call him today to determine if property management is the right solution for you and your family.

Contact Paige Slyman for all of your real estate needs at 770.405.0100 x 2 or email us at paige@paigeslyman.com

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Property Management 101 / Part 3

Let’s face it. Real Estate has always been a competitive business. As a REALTOR® it is difficult not to keep your cards (in your case your clients) close to your chest. Most of us do this by proving professional and personalized service. If you are faced with a home that will not sell for whatever reason, it is difficult to consider turning a client over to a property management company for fear you may potentially be losing a client and a listing. As a reputable business person, you want to act in a manner that is in the best interest of your client.

At Slyman Real Estate, through our property management division, we can help you do just that. In brief, we help you help your client. By providing first-class property management services and positive rental experiences for the clients you refer to us, we actually offer you a way to retain and even strengthen your relationship with your client. By enabling your client to move forward with their real estate plans, you become a solutions provider in the eyes of that client. When the market improves or the client is able to sell at a price that meets their financial goals, your services will be called upon again. In many cases, renters will become buyers and owners will become sellers. And with that, you will be in a good position to serve them.

Our extensive property management services lift the burden of securing a tenant and managing the property off the shoulders of the property owner. Slyman Real Estate’s property management division offers a completely comprehensive and personalized property management service that will cater to both you and your tenants needs.

We offer the following solutions:

-We help secure and screen tenants. Once you submit your property’s portfolio to Slyman Real Estate, we will use our expertise to find tenants quickly.

-We have extensive experience in handling the business and maintenance duties for the property owner.

-We offer a comfortable buffer zone between the owner and renter.

– Slyman Real Estate Property management services include payment collection and financial reporting. You will not have to deal with the tenants directly, when it comes to getting monthly payment. This will be done for you and you will be sent a complete report on the payment collection. Simply put, you can focus on your business, while you automatically receive your dividends from investing in real estate.

-Our professionals will respond to complaints from tenants and will fix the problems in a timely manner.

– Slyman Real Estate will handle disputes, evictions and even court hearings, if necessary. It is extremely beneficial to use the services of someone with legal knowledge in real estate. In this way, all disputes and evictions will be settled timely with minimal or no losses for you.

-We have an extensive list of reputable service vendors that have a proven track record and quality work. When your property needs a repair, we guarantee that the work we provide will be quality work, done in a timely manner and at a fair price.

We pride ourselves on providing excellent customer service and we have references to back it up. You can trust we’ll take good care of your clients. The only thing you will have to do when using Slyman Real Estate’s property management services is to sign the lease agreement. All the rest is taken care of by our professionals.

Give us a call at 770.405.0100 x 2 to find out why we are fast becoming the favorite Atlanta property management company or email us at paige@paigeslyman.com.

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Property Management 101 / Part 2

Q: “My house has been on the market now for long time and I do not feel that I am going to be able to sell the house any time soon. I’m considering renting it but can’t decide whether to manage it myself or hire a property management company to manage it for me. My concern is – Won’t I be giving up profits to a property manager that I could keep myself?”    

A: This is a common question and concern for property owners and the answer is yes, and no. While there is a cost associated with property management services, the amount saved can be tremendous and the benefits far outweigh the costs over the span of the rental period.

While most property management companies in Atlanta, GA can help a property owner find a tenant and manage repairs to the property, not all property management companies are created equal.

With Slyman Real Estate, you’ll appreciate all the details that we put into managing property and will see how we can actually save you time and money on your rental venture.

Our property management services include all phases of the process of renting a home from locating tenants to taking care of maintenance issues and everything in between.

Slyman Real Estate offers many property management benefits:

1. Accurate Property Evaluation – We are very knowledgeable regarding the current rental market. We can give you a realistic expectation of what the rental amount and terms should be in order to minimize the time the property remains unoccupied and maximize the owner’s rental income.

2. Successful Staging of Property – Because we are in and out of many rental properties as well as properties for sale every day, we know what today’s renters are looking for. We bring expertise in staging which leads to successful marketing of rental properties.

3. Excellent Marketing Services – We know our industry and how to market rental properties so that they do not sit unoccupied. We have a network that we work with to place renters. Through our real estate business, we are also in contact with potential renters on an ongoing basis.

4. A Well-Maintained Property – A property that doesn’t look maintained will cause a renter to either look further or attempt to negotiate a lower rental payment.  We can recommend minor repairs and updates that could make a big difference on the impression made by the property.

5. Procurement of Strong Tenants – We will handle the process of screening potential renters to ensure a successful rental experience for the owner. This includes:  application review with full screening, credit check, copy of full credit report, bank account information, copy of driver’s license, social security number, and income and employment verification.

6. Lease Document Preparation & Execution – We provide lease document and hold the security deposit for the owner.

7. Guaranteed Payments to Owner – Payment to the owner is made immediately upon receipt of renter’s payment. We take care of all payments and collections.

8. Timely Repairs and Work Guaranteed – We act on the best interest of the owner. No repairs are made without the owner’s approval. We know the renter’s satisfaction and contentment is also important and we take pride in protecting your reputation and investment

9. No Commission Charged on Tenant Renewals – This translates into more income for the owner.

10.  24/7 Service for Renters and Owners – No matter when or what time service is called for, you won’t get an answering service.

In short, our professionals take the stress off the property owner saving time, headaches, and money. With a properly managed property, the owner’s expense and energy is greatly reduced.

In part 3 of this series, we’ll address how we can benefit the REALTOR® who may have a listing that simply cannot sell which the owner may desire to rent.  As always, we appreciate any feedback or comments.

Give us a call at 770.405.0100 x 2 to find out why we are fast becoming the favorite Atlanta property management company or email us at paige@paigeslyman.com.

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Property Management 101 / Part 1

What do you think about when you hear the term property manager? A homeowner may think, “I can’t afford to pay someone to manage my property.” On the other hand, a REALTOR® may fear that to introduce a property manager and lease arrangement, a viable listing will be lost.

As a matter of fact, neither fear is warranted. The reality of the situation is that a knowledgeable and competent property manager will save you time, money, frustration, and needless anxiety. Enlisting the help of a property manager is similar to hiring a CPA to file your business taxes and financial statements. While inexpensive software is readily available for this purpose, none of them can guide you fully through all the complexities of the tax code and help you plan for future filing like a skilled CPA can. Helping you navigate the ins and the outs of the ever changing tax code, a good CPA can actually help you make better financial decisions and in the long run, save you money.

The same is true with a good property manager. Leasing and managing property in Atlanta, Georgia is also a complex activity that requires more skill, knowledge, and time than most people realize. An experienced and reputable property manager will be able to help you navigate the legal agreements, locate and do a thorough review on candidates for lease, and serve as a buffer between leasee and lessor in the matters of rent collection and maintenance needs. The truth is, you can’t afford to not hire a property manager.

With the property properly managed, the homeowners are free to use their energy to pursue their career and enjoy weekends with their families without being on call and can enjoy the financial security of the home being occupied while having the lease payments add to their equity. For the REALTOR® assisting a client with finding a good property manager can save a listing that is in threat of being lost due to time on the market or market conditions that are not favorable to the owner’s financial requirements. In short, the REALTOR® will retain and most often add to their client list as market conditions improve and renters become buyers, while owners become sellers.

In part 2 of Property Management 101, we’ll discuss in greater detail the real benefits of hiring a property manager in Atlanta, GA.  If there are questions that you would like to have answered, we invite you to post them here so that we can make sure we cover them in upcoming posts.

At Slyman Real Estate, we provide the best property management service that can be found in the Atlanta area. We can work with REALTORS® and homeowners alike to ease the work involved in renting and managing properties. Feel free to give us a call at 770.405.0100 x 2 or check out our website at www.paigeslyman.com.

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