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

******************************************************************************************

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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Topic:
Real Estate General Information
Location:
Georgia Fulton County Atlanta
Groups:
The Art Of Marketing You
Property Management
National Association of Residential Property Managers (NARPM®)
BananaTude
Atlanta Real Estate Q&A
Tags:
best roi for buckhead luxury re
luxury rental homes in garden hills
buckhead luxury home property management
buckhead luxury home rentals

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Ambassador
1,405,838
Anna Banana Kruchten
Phoenix Real Estate Agent, CRB, CRS 602-380-4886
Phoenix Property Shoppe

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.

March 05, 2012 06:45 PM
Rainmaker
374,441
Russell & Tracy Lee Parker
Experienced Broker & Property Managers Since 2006
RE/MAX Dallas Suburbs

I hate it when this happens!

March 05, 2012 06:50 PM
Rainmaker
706,255
Juli Vosmik
Scottsdale/Cave Creek, AZ real estate 480-710-0739
Dominion Real Estate Partners, LLC, Scottsdale, AZ

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

March 05, 2012 10:13 PM
Rainmaker
1,076,168
Wallace S. Gibson, CPM
LandlordWhisperer
Gibson Management Group, Ltd.

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?

March 06, 2012 02:48 AM
Rainmaker
409,412
Michelle Francis
Realtor, Buckhead Atlanta Homes for Sale & Lease
Tim Francis Realty LLC

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

March 06, 2012 04:59 AM
Rainmaker
790,963
Al Raymondi
Ormond By The Sea Florida - Home and Condo Sales a
Ocean View Realty Group in Ormond By The Sea Florida

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

March 06, 2012 05:10 AM
Rainmaker
409,412
Michelle Francis
Realtor, Buckhead Atlanta Homes for Sale & Lease
Tim Francis Realty LLC

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

 

March 06, 2012 06:08 AM
Ambassador
832,293
Connie Harvey
Realtor - Nashville TN Real Estate
Pilkerton Realtors

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

March 06, 2012 03:04 PM
Rainmaker
673,353
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

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

March 06, 2012 04:15 PM
Rainer
204,518
Mark Delgado
Benicia and Vallejo, Property Management, rental h
houses for rent, Solano County & Glen Cove
We see the same in our area. I guess it all goes back to the old saying of getting what you pay for.
March 06, 2012 06:28 PM
Rainmaker
409,412
Michelle Francis
Realtor, Buckhead Atlanta Homes for Sale & Lease
Tim Francis Realty LLC

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

March 07, 2012 08:02 AM
Ambassador
2,032,155
Todd Clark
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494
Keller Williams Realty

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. 

March 09, 2012 06:37 AM
Rainmaker
539,960
Eric Michael
Metro Detroit Real Estate Professional 734.564.1519
Remerica Integrity, Realtors®, Northville, MI

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!

March 10, 2012 11:59 AM
Rainmaker
341,496
Dan Brudnok
REALTOR,e-PRO,ABR,GREEN,SRES,CSP
Keller Williams RE- Exton - PA License Number #RS225179L

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.

March 15, 2012 05:38 AM
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Rainmaker
409,412

Michelle Francis

Realtor, Buckhead Atlanta Homes for Sale & Lease
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