Are you really "saving money" with the CHEAPER Atlanta Property Management Company?

By
Real Estate Agent with Tim Francis Realty LLC

Are you really "saving money" with the CHEAPER Atlanta Property Management Company?

Just about to put a new townhome unit up for rent that is meticulous with fabulous details.  Tim Francis Realty LLC has been watching the area and keeping up on latest rental rates, as the Atlanta market has seen solid rental increases over the last few years.  2012 is no exception.  We had planned to put the property up for what the latest market comps show leased just two months ago.   

LEASED - Buckhead Luxury Rental Homes - By Michelle Francis, Tim Francis Realty LLC - Property Management Services Photo - RESULTSWith no competition, the strong spring market and a unit that will show very well, it was a slam dunk from a market rate perspective.   

Unfortunately another unit just came up yesterday in the same complex for what the townhomes leased for 18 months ago.  WHAT!  Yes, the very lazy leasing and property management company – who advertises their low rates and how they save you money, left off market research as a task for listing a new property.  Gee, that’s $150 a month they left on the table at the $1,500 price point, so instead of getting $1,500 a month, the unit is being advertised for $1,350.  I expect it to lease soon and when asked about it as a comp, I’ll have to say they got the deal of the year. 

How do you think the owner would feel if they find out home much money they have saved this year with the low-price option?  Let’s see, saving $20-$30 dollars a month COST them $150.  What a deal!  I figure they LOST roughly $1,600 after their “savings”. 

If you are looking for a smart valuable company to handle your Atlanta Luxury Rental Properties, please call Tim Francis Realty LLC to get the best service and the MOST net dollars.    

Why do you want to save money in fees that cost you MUCH MORE in rental income?

Posted by

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Information and content on this blog is original to Michelle Francis  

Michelle Francis

Tim Francis Realty, Serving Buckhead, Atlanta & Sandy Springs GA

(404) 219-9760

Michelle@TimFrancisRealty.com

 

Want to know more about Residential Buying, Selling, Executive Home Leasing & Property Management in Buckhead, Brookhaven, Garden Hills and Sandy Springs, GA?

If so, you can find me here:

Buckhead, Atlanta, & Sandy Springs Real Estate on Linked-IN

 

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Ambassador
1,460,292
Anna Banana Kruchten
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Michelle I totally get this one. Several of our investor clients begged us to take on property mgmt for them after some really bad experiences.  We finally agreed and they're happy campers. Knowing the market and how to handle these situations is critical.

Mar 05, 2012 06:45 PM #1
Rainmaker
389,250
Russell & Tracy Lee Parker
RE/MAX Dallas Suburbs/PLATINUM PROPERTIES & MANAGEMENT - Wylie, TX
Experienced Broker & Property Managers Since 2006

I hate it when this happens!

Mar 05, 2012 06:50 PM #2
Rainmaker
721,799
Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Michelle - people just look at the "immediate" fix - not the long term goals.  Hopefully, they'll see your listing and "get it."

Mar 05, 2012 10:13 PM #3
Rainmaker
1,086,055
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

In Property Management, you do get what you pay for.....lack of knowledge also comes with lack of attention and lack of income.....if they are selling their SERVICES short, what are they doing to attract residents and keep property maintained?

Mar 06, 2012 02:48 AM #4
Rainmaker
409,895
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Anna, 

So true, investors realize all those dimes left on the table make a big difference in ROI. 

Tracy, 

Seriously, so disappointedthat it makes us rethink our price when we had a solid route.  We'll just be leased after them, which is fine, but no reason to leave those dollars on the table.

Juli, 

Doubt they'll get it, but just insane.

Wallace, 

I've run into every kind in every industry.  Unfortunately, these owners won't know that they aren't getting what they could, but are getting what they paid for.

All the best, Michelle

Mar 06, 2012 04:59 AM #5
Rainmaker
802,161
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales a

Knowledge of the market is critical for success especially in leasing Michelle.  Nice post.

Mar 06, 2012 05:10 AM #6
Rainmaker
409,895
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Al,

It really is!  We want our owners to get the best returns they can.  We also realize if it's vacant it cost them money, so there is a fine line trying to figure out pricing.  

All the best, Michelle

 

Mar 06, 2012 06:08 AM #7
Ambassador
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Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Michelle, I agree. In property management, you get what you pay for!

Mar 06, 2012 03:04 PM #8
Rainmaker
698,416
Gene Mundt
www.genemundt.com - 708.921.6331 - New Lenox, IL
Chicagoland Mortgage Lender - 37 yrs experience

Seems like someone was very incompetent .. or very lazy, Michelle.  Definitely not who I'd like representing my property for me.  Sure hope many see this article and contact you as a result ...

Gene

Mar 06, 2012 04:15 PM #9
Rainer
204,518
Mark Delgado
houses for rent, Solano County & Glen Cove - Benicia, CA
Benicia and Vallejo, Property Management, rental h
We see the same in our area. I guess it all goes back to the old saying of getting what you pay for.
Mar 06, 2012 06:28 PM #10
Rainmaker
409,895
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Connie

Very true.  I just felt so bad for the owners and frustrated that the other lease price would be so off base!

Gene

Yes, wouldn't even recommend that company for areas of Atlanta I don't cover.   And I frequently get calls for areas I don't cover.  Have lots of other folks I recommend and would personally use that do a great job. 

Mark

Figured it wasn't limited to Atlanta:-)

All the best, Michelle

Mar 07, 2012 08:02 AM #11
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Todd Clark
Keller Williams Realty - Beaverton, OR
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494

Those same lazy leasing agents are also the type that tend to be lazy when it comes to paperwork and end up costing you in court as well. 

Mar 09, 2012 06:37 AM #12
Rainmaker
541,873
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Michelle, that's where the saying "you get what you pay for" fits in perfectly. Hopefully the Atlanta market is chugging alone nicely for you. I'll be down there for a few days next month for RETSO. Can't wait!

Mar 10, 2012 11:59 AM #13
Rainmaker
347,457
Dan Brudnok
Keller Williams RE- Exton - PA License Number #RS225179L - Downingtown, PA
REALTOR,e-PRO,ABR,GREEN,SRES,CSP

Michelle,

When times are hard, too many complicate things by being penny wise and dollar foolish.....their is and should be a price for QUALITY.

Mar 15, 2012 05:38 AM #14
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Rainmaker
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Michelle Francis

Realtor, Buckhead Atlanta Homes for Sale & Lease
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