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.