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Property management services are ideal for out-of-state owners or large investors; however, the value of a property management service is not contingent upon the size or location of your real estate portfolio.  You can add value to your investment by hiring a property manager if you have 1 or 1000 rental units and if you live next-door or hundreds of miles away.  Here are a few reasons why:

1.   Local laws are complicated

Becoming a property owner and leasing a unit opens the door for many legal concerns. A professional property manager is knowledgeable local ordinances and will assist in protecting you and your asset(s) against legal issues. Knowing local, state and federal laws is a must.

2.   Real estate is not your primary business

Most property owners have a family they like to spend time with and a primary job that is not real estate.  It is not a pleasant experience to be disrupted during your work-day or woken up at 2am when there is a leak or a tenant gets locked out. Good property management firms have 24-hour emergency service so that you don’t have to deal with this problem and others like it.

3.   Reliable contractors are hard to find

Property managers with experience have an established list of preferred vendors and get better rates and response time on maintenance calls than an individual.  This is due to the amount of business they provide the contractors and the fact that they’ve spent years identifying reputable and reliable vendors with the best prices.

4.   There’s more to it than collecting rent and paying the mortgage

Property management firms have access to market trends and comps that allow them to achieve the maximum monthly income for the owner. But, many owners of investment property forget to budget for tenant turnover, eventual replacement of mechanical systems, potential increases in taxes and other miscellaneous expenses that impact the bottom-line.  As professionals, experienced property managers can help you project the long-term viability of your investment over time and plan accordingly.

If you have questions about property management or would like to discuss management of your residential or commercial real estate investment(s), please call our management division at (706)715-8500.

Atlas Real Estate Advisors was recognized as one of the top 100 fastest growing businesses owned or operated by a University of Georgia graduate during the 2014 Bulldog 100 Celebration on January 25 at the Marriott Marquis in downtown Atlanta.

Atlas Real Estate Advisors, owned by Matt Thomas (BBA, 2000) and Chris Blackmon (BBA, 1999), specializes in real estate investment and consulting, offering services for clients with real estate needs beyond the scope of traditional brokerage.

“This acknowledgement has very significant meaning to us.   We’ve worked to position ourselves as leaders in the field of real estate in Athens and across Georgia, and we’ve seen tangible evidence through our enormous workload and the number of projects we’re asked to handle.  Maybe it’s because we are all UGA guys and have a culture of excellence instilled within us, but we buy into a goal of constant improvement and differentiation. This formal recognition of success, being named to the Bulldog100 list, gives us a renewed momentum headed into 2014”, Thomas said.

The Bulldog 100, coordinated by the University of Georgia Alumni Association, recognizes the 100 fastest growing businesses owned or operated by UGA alumni. For the fifth year in a row, Warren Averett CPAs and Advisors partnered with the UGA Alumni Association to review financial records for each nominated business and determine the ranked list.

Nominations for the 2014 Bulldog 100 were accepted between January and May 2013. To be considered for the list, each organization must have been in business for at least five years, experienced revenues in excess of $100,000 for the calendar year 2010, and be owned or operated by a former UGA student who owns at least 50 percent of the company or be the CEO, president or managing partner. The Bulldog 100 recognizes the fastest growing businesses regardless of size by focusing on a three-year compounded annual growth rate. More than 800 nominations were received for the 2014 Bulldog 100.