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Property Management Companies: The Ultimate Guide | Real Estate Skills

Accomplishing the milestone of paying off your home can be a great and fulfilling moment in anyone's life. That's why you should continue that feeling by renting out your house and earning rental income!

Having a rental property is a great source of passive income that can bring constant cash to your pockets without having to work for it. So, understanding the process and rules is critical! 

Renting out your property can be a hassle. However, this hassle can easily be avoided when property management companies are involved. 

Read on and enjoy Property Management Companies: The Ultimate Guide! Use this menu to jump to your section of choice:

 

What Are Property Management Companies?

Renting out your property for quick cash might seem like a pretty straightforward process that you can do on your own. But in reality, it can cause a lot more problems than benefits if not done correctly. That's why hiring a property manager can be beneficial to both renter and property owner.

Property Management Companies are third party companies that provide support to property owners of residential, commercial, industrial, and land real estate. They have the ability to control, manage, conduct maintenance, and provide oversight of the property at hand.

They have the ability to conduct business relations between real estate investors and tenants. Some property management companies perform real estate investing themselves, which makes them extremely qualified to handle your property.

 

What Do Property Management Companies Do?

Property management companies provide support in a wide variety of ways. So, it's best to know the proper duties they can provide for you before going through a company. 

This list can also help you decide whether to be your own property manager, hire a third-party property manager, or even skip property management completely. It's ultimately up to you on what you want to do with your property.  

Here's is a list of basic duties they can do for you:

Bookkeeping 

This is one of the most difficult and tedious works that you would have to do if you were on your own as a property manager. If not done right, then you can find yourself in a lot of legal trouble in the future. 

Bookkeeping is how the property management companies can keep account of all your financial information such as:

  • The setting/collection/adjusting of rent payments
  • Any payments that you had to make to the property
  • Property Maintenance and repairs that had to be done that include full service
  • 1099-MISC Report - This form is required if the owner receives more than $600 from their rental property
  • Keeps tax information accountable for the investment property 

All of these will be held accountable and won't be lost in a paper trail when going through a property management company. This duty is to keep you safe from any legal trouble and should be taken VERY seriously. 

Maintenance Requests & Repair Services

This duty requires the property management company to handle any of the tenant's requests or problems they are having. 

This is important to consider whether to go with a company or not because top companies usually have an on-call maintenance team that is available 24/7. So, if you were to not have a property manager then you would have to deal with these calls instead.

Some of the most common rental property management maintenance and repairs are:

  • Water Issues - Leaks, No Hot Water, Or No Water At All
  • Bug/Rodent Issues
  • Any Type Of Appliances That Stop Working
  • Any Type Of Issues That Require A Plumber
  • Garbage Disposals
  • HVAC / Sprinkler Repairs / Furnace Repairs

All of these are issues that always seem to come up with anyone's home in the world. Therefore, you should really hire someone to take care of it for you instead of focusing on these problems coming up for your rental home. 

Heres a video on the three types of maintenance needs a property management company can take care of! 

Marketing The Property

There may be a time of vacancy for your home when trying to make it a rental property. That's why proper marketing for your home is key, in order to avoid missing out on monthly income. 

Good property management companies can take care of this task without a problem. They have constant tenants looking for the right homes and if you're confident in your home appealing to people then it can be rented out as fast as you first listed it. 

Attracting tenants is one of the main things property management companies are known for. Especially if they are a successful company, their brand name itself is the only marketing they really need. 

Here's a list of ways a property management company can market your property:

  • Craigslist
  • Google Searches For Their Specific Website
  • Direct Mail
  • Existing Clients Looking For A Home To Rent
  • Zillow Rental Manager

This might seem like an easy task for any ordinary person but they will ensure you get the proper tenant by making them go through their thorough screening process. 

Legal Requirements 

There are a lot of legal aspects when renting your home out to someone else. These legal requirements are challenging to learn all on your own. So, it's best if you hire someone that is knowledgeable and has many years of experience.

Here are some of the legal aspects a Property Management Company can help you on:

Security Deposits - This is a collection of the tenant's first and last month's rent. This is to ensure security for the landlord if the tenant breaks any terms of the rental agreement. It is recommended to learn the law for each state since it's different for each one. 

Evictions - This is when the landlord of a property has to remove the tenant from the property. Some of the reasons for evictions are:

  • Failure To Pay Rent On Time
  • Violating The Lease 
  • Illegal Activities Being Done On The Property
  • Numerous Complaints From Neighbors 
  • Damages To Landlords Property

Conducting this task on your own can be a risky one that can lead to a lawsuit if not done correctly. Again, it's recommended to get someone with experience in this field so they can handle any given situation effectively. 

Inspections - This is to ensure that there hasn't been any violation of the lease, damage to the property, or illegal activity. A Property Management Company can help here because they know what to look for and the legal aspect behind it. 

Tenant Screening - This activity is the process of evaluating potential tenants for your property. This procedure is important because it involved a full background check that might not be so easy for the landlord to do themselves.

Going through this with a Property Management Company can also save you from potential negligence of Housing Discrimination Under The Fair Housing Act. This is a problem that can be overlooked as a landlord which can result in a major lawsuit if not done correctly.

These are just the main legal requirements that need to be followed when being a landlord. But, there is always something flying below the radar that can cause a lot of problems. That's why having a Property Manager can ensure you that those tiny problems can't sneak up on you. 

Proper Records Of Activity

Having records of activities is crucial, especially when doing business with another person that has a lot of legal aspects to it. 

They will keep track of all the paperwork such as; payments, anything done on the house, receipts, history of activity, and all legal documents.

Property Management Companies can give you that safety knowing that they will hold any information and activity of every tenant you had with your property. This will save you from keeping and finding all the information yourself, which can be overwhelming.

Having all the information saved can definitely save you from any legal battle that you're going through now or in the future.  

How Much Do Property Management Companies Charge?

how much do property management companies charge

If you were to hire a Property Management Company they will be taking a bulk of the work. Therefore, paying a fair amount of fees is required. There are some fees more important than others and being knowledgeable about the fees will help you to find the best company to work with.

Here are some of the fees that Property Management Companies charge for:

  • Flat Fee (Management Fee)
    • This is a fee that a property manager charges you each month. This is determined by the size, type, services, and condition of the given property.
    • Pick this or the Percentage Fee as means of payment.
  • Percentage Fee (Management Fee)
    • This is a fee that takes a percentage of the monthly rent. This can be collected as Rent Due (payment regardless of vacancy) or Rent Collected (payment when rent is paid).
    • The typical percentage charged is between 8-10%
    • The more properties you own the lower the percentage they will charge you.
  • Leasing Fee (Placement Fees)
    • This fee involves all the work that is required for getting your property to the proper tenant. Such as: showing your property, screening tenants, filing the proper paperwork, and marketing. 
    • Usually, half to first month’s rent whenever they sign a lease 50-100%.
  • Eviction Fee
    • This fee is when an eviction has to take place. Since an eviction has to go through court, the company you use will be spending a lot of money on this.
    • Therefore, it's better to pay the fee instead of going through everything yourself. 
  • Maintenance Fee
    • This is a fee that they will charge because of the maintenance crew they have on standby. 
    • They can still extra charge you on the number of people needed and the materials used. 
    • Some companies might not charge this but if they do, make sure it's a set limit.
  • Past Payment Fee
    • This is a fee that comes up if you are late on a payment for any of the work they have done. 
  • Reserve Repair Fund Fee
    • This is a fee that a landlord can make, that can be put on the side for any repairs needed at the property. When the repairs are needed they can take the money out from this fund.
  • Vacancy Fee
    • This is a fee that comes up if you're trying to find a tenant while the property is vacant. 
    • Some have this and some don't, so it's best to find that out before pursuing a specific company. Avoid if Possible
  • Miscellaneous Fee
    • This is a fee that a company might charge you when they give you a list of activities they can perform that aren't a regular payment like the others.
    • This fee is optional.
  • Early Termination Fee
    • This is a fee that comes up when you want to leave the current company you're working with earlier than expected according to the contract. 

Some of these might be required while others won't be, therefore it depends on the company you use and its best to check the company’s website to see if they charge it or not. 

These are the main fees a Property Management Company is going to charge you and shouldn't be overlooked when making the contract. All these fees might seem like a lot, but in the end, it will be saving you the money when problems come up and they are able to handle it.

Here is a successful property management company going more in-depth of the main types of fees you might encounter!

 

How Do Property Management Companies Collect Rent?

Collecting rent is one of the most important duties Property Management Companies perform. They are able to ensure that everything goes smoothly and that the tenant is paying in full and on time. 

So, picking the right form of payment is important for both tenants and landlords. It's best to communicate with each other to agree on the best form possible.

The main place to make a payment would have to be located on their main website.

The way they collect rent and distribute it is using ACH (Automated Clearing House). This is an electronic network for financial transactions that allows direct deposits between banks without using paper checks or wire transfers.

This makes it easy for both parties when making payments because it happens immediately and it works regardless of what bank you use.  

Additional ways to collect rent include: 

  • Drop Box: Tenants leave personal checks at a physical location
  • Mail A Check: Tenants mail a check to an address
  • Paypal
  • Venmo
  • Bank Transfer (using Zelle, for example)

 

How To Choose The Best Property Management Company?

best property management companies

When hiring a Property Management Company, it's important to take your time and to do your research. This is the company that you will be putting all of your trust in for handling your property. 

It's also important to avoid the Early Termination Fee because you didn't really understand the contract. So, it's important to take your time in this process and not jump on the first company you see. 

Here are some ways to find the Best Property Management Company:

Online Research - This is one of the basic ways of finding the answer you desire. When conducting your research it's best to use Google and look at all the reviews they have. This will give you an idea of what real people experience as their clients. 

You can also check out all property management, which is a Buildium Company trying to help you find the right local property managers in minutes!

Understand The Fees Expected and Agreements - This can be done by going to the company's website and checking their pricing. If it's a good company they will have it all listed out to you to prove their openness and trust.

The main things you look for are the potential property management services they can provide along with the expected fees, to the landlord's expectations (if you don't want to do a certain task you can request the property manager to do it), and finally, understand the contract duration.

You can also try calling them directly to ask any questions you might have. This is a good thing to do because you can get a direct answer and test their communication skills.

The more extra charge they ask for the less likely they are a good company to go with because they are solely profit-driven. 

Confirm Licenses and Certifications - This is to ensure that the company you are looking into is legal and licensed to do their business. The best way to figure this out is to verify on your state's Real Estate Commission website. 

Before fully going into a company it's best to look into the proper certifications of your manager and company. That can be looked into on theses websites:

If the company has at least these three certifications then it's most likely they are a good reliable company. The more certifications they have under their belt the more qualified they are!

Going To Visit Their Properties In-Person - This is a great way to see how the company does business and takes care of their client's properties. This will show potential landlords the type of clients they are getting and also being able to see if inspections were done properly.

If you go to the actual properties and it looks beat up, trash everywhere, lawn not taken care of, or parties going on then it's probably not the best company to let handle your property. This will indicate the lack of care & unprofessionalism on their part, as well.

 

What Are The Pros and Cons Of Hiring A Property Management Company?

Hiring a Property Management Company does have its fair share of both good and bad, but knowing the details for both can help with what decision you're trying to make. 

Here are the Pros and Cons of Hiring a Property Management Company:

PROS

  • Less Stress Of Responsibility - This is good for any landlord to have because they don't have to go through everything that the Property Management Company does.
  • Tenant Sourcing and Screening - This allows you to let the company find the proper tenant for your property by going through the best marketing and background checks.
  • Professional Knowledge and Experience - Your property manager will have the proper experience that will ensure your safety if any type of trouble were to arise. Along with all the rules that must be known when renting out a property.
  • Guaranteed Maintenance Team - Since the majority of Property Management Companies have a 24/7 team on stand by for all their properties, you can guarantee that any fix that is needed can be resolved very quickly. 
  • Proper Rental Rates - The Property Management Company will know the perfect rental price for the property and make sure you are getting the most out of it while not experiencing low vacancy. 
  • Included Advertisers - The majority of Property Management Companies have their own unique set of advertisers that an ordinary person might not have.

CONS

  • Extra Property Management Fees - All of the extra fees that go along with Property Management Companies will cut into your monthly profits.
  • Potential Miscommunication - Since you will be dealing with a middle man in all of this, some information can be misunderstood or taken out of context. This can result in disagreements/problems. 
  • Lack of Involvement - This stems from the fact there are some companies out there that won't tell the landlord about minor tenant issues and just handle it themselves. This is a hard thing to swallow if you want to be a part of every decision of your property.

As you can see, the Pros outweigh the Cons by some margin of importance they have. Property Management Companies are only trying to help you. But, don't get too comfortable too fast because there are a lot of companies out there that can.

Here is an extra video of a successful Property Management Company discussing the Pros and Cons of hiring a property manager

 

What Are The Different Types Of Property Management Companies?

Property Management Companies can be specialized in three different areas, such as Residential, Commercial, and Land Real Estate. 

Here is where we will go into detail about the three types:

Residential

Residential property management companies mainly focus on property investors and owners that have vacant homes at their disposal and want to rent them out to potential tenants. They help the landlord and tenant's relations go smoothly without any legal trouble getting involved.

They are able to keep records of any activity that is done to the house, provide expert maintenance when repairs are necessary, ensure rent is paid on time and in full, and any legal troubles that arise (evictions, complaints, or inspections).

Commercial 

Commercial property management companies mainly focus on operations that include retail spaces, office buildings industrial, medical, and restaurants. They don't focus on houses for people to live in, but rather buildings that businesses work out of.

They have some of the same duties as a Residential Company, such as; managing leases, finding business tenants for your building, and important bookkeeping.

These tasks are similar but they do go more in-depth than regular residential management companies.  

For Example:

When conducting financial information, commercial property managers gather data on budgets and overhead costs to make their decisions on the property. This helps the property maintain its profitability and maintain quality tenants. 

Land

Land property management companies solely focus their attention on land real estate. This is where they help clients with open land find someone to sell to, which can be a person looking to build a house on it to a business looking to operate there.

 

What Are Vacation Rental Management Companies? 

Some homeowners that aren’t looking to rent out their permanent address home but rather their “beach home” might want to look into renting out that property wherever they aren't using it. That's where a vacation rental property management company may come in. 

This is also considered a short-term rental property that companies list on a variety of online booking channels. These booking channels include Airbnb, Expedia, or TripAdvisor Rentals

Since booking is done on a daily basis and can be booked in advance as well, It takes constant check-ins to ensure that you get as many days booked as possible. 

Some of their tasks include:

  • Ensuring Each Day Is Booked - Therefore if a day comes up and it's not booked, they have to lower a price that isn't too low but is able to get a renter. 
  • Cleaning duties after every stay is completed
  • Communication among future and current guests of the property
  • Making sure that guests check out on the day expected
  • Proper advertising, such as; taking pictures/videos of the property and posting them on book channels without overlapping guests rentals
  • Property maintenance and repairs

This is a benefit for short-term landlords because they are able to know they have someone maximizing their property rentals to the fullest. 

This results in them doing whatever they have to do for their regular job and not having to worry each and every day for their side property.

 

How Can I Find Property Management Companies Near Me?

property management companies near me

Finding the right Property Management Company near you is critical. That's why you need to understand the proper tools required when looking for the perfect one. 

Here are some of the ways you can increase your chances of finding the perfect company:

  • Referrals - This can be from a friend or family member. But it's recommended for it to come from a Realtor, Broker or local real estate investor.
  • On some occasions, a Realtor or Real Estate Broker can find one for you, since they have many resources at their disposal.
  • Google Search - A simple, yet effective way
    • Simply look up “best Property Management Companies near me” or put where you're located instead of “near me”
  • All Property Management 
  • $implifyEm
  • Real Estate Investor Association (REIA) Meetings

These are the best ways to find a Property Management Company near you. Going along with this and following our previous question answered “how to choose the best property management company” you can find yourself hiring the best one near you!

 

What To Ask When Hiring Property Management Companies?

property management companies

Asking the right questions can save you from hiring the wrong Property Management Company.

Here is a shortlist of questions you should ask:

  • What are the services you provide for your clients?
  • What are the miscellaneous fees that I can be charged?
  • How would you market my property?
  • What exactly are the Fair Housing Laws?
  • How do you set the rental rates for your properties?
  • What are your management fees?
  • Is your company insured?
  • How frequently will you check-in and provide feedback on my property?
  • What is the average amount of months tenants occupy your rentals?
  • How do you screen your tenants? 
  • Do you have your real estate broker's license?
  • How big is your management team?
  • Do you also invest and own properties in your market?

These are just SOME of the questions you might ask, but they’re definitely the most important ones you shouldn't forget!

 

What's Necessary To Know About Property Management Companies In Chicago?

When looking for the proper Property Management Company in Chicago its best to understand the different expectations they have in comparison to other cities. A lot of the laws and duties can be the same but knowing the ones that differ is important to know.

Here is necessary information to consider:

  • Security Deposits - A landlord can charge any amount they like for the deposit and any extra fee for move-ins. It can differ depending on the county you're in, but most of Chicago does have these rules.
  • Landlords are required to pay interest on the security deposits
  • Terminating A Lease In Chicago - When terminating a lease in Chicago without any legal trouble they must follow these circumstances:
    • Tenant is an active duty service member and is leaving for duty.
    • Domestic violence is happening with police report as proof
    • House is not safe enough to live in (breaking safety codes)
  • Late Fees - As a tenant you have five extra days passed the due to pay the rent

To get some examples of good Property Management Companies in Chicago, here is a list of some:

GC Realty & Development, LLC.

This is a great Property Management Company in Chicago that was voted the BEST in Chicago for 2020 by; Expertise, PropertyManagement.com, and iPM. They also have a BBB rating of A+ with 15 years in business.

Their website is a great source of information as they go into detail about each step of the process they take. They also have videos describing each one and they are available to discuss pricing by emailing them for a quote.

They are constantly updating their technology to go with social trends, which makes them innovative. This shows hard work for a company because it shows how much effort they put in on their website, so it means they put in hard work for all their rentals as well.

Their website is very user-friendly and open to discuss all their information!

Adding to their already successful company, they were able to gather a great group of employees. They are guided by Mark Ainley (the owner) which was recently on a House Flipping T.V Show called The Deed on CNBC.

This shows how popular and trusted the company is and how they can have the owner on popular T.V shows. This is definitely one company you shouldn't pass up on when looking in Chicago!

Keyrenter Chicago North

This is another good Property Management Company in Chicago, that also has a BBB rating of A+. They've been in business for only four years, which is shocking because they already have such a high grade. 

This shows a promising company that is headed in the right direction. Since they are new they are charging a relatively low Property Management Fee of 5-10%. This makes them attractive as a company. 

They also have a good website that discusses their mission statement and values along with other information about pricing along with the services they provide. 

It looks like they want to teach at the same time trying to obtain a business which is good because it shows that they care about their owners and tenants. 

FULTONGRACE

This is yet another great Property Management Company in Chicago that got a BBB rating of A and has been in business for 10 years. They also have a reasonable 7% property management fee.

On their website, they are able to show their full team of property managers. This is good because it allows you to do your research on each person and gives you the opportunity to choose which one you want. 

They also don't shy away from the fine print that they include on their website and they openly talk about management fees, property management contracts, and their service areas. 

One service that they provide that makes them really stand out is the free maintenance services each month for two hours. This is good because it will save landlords money by allowing simple fixes in each home to be completed with no charge. 

 

What's Necessary To Know About Property Management Companies In San Diego?

When looking for a Property Management Company in San Diego, it's best to know the types of laws and requirements that might differ from other areas. Therefore, you need to look out for the ones that make San Diego unique from the rest.

Here is necessary information to consider:

  • Very Strict Eviction Procedures - Can evict as soon as the lease is up and if the rental agreement is canceled by the landlord (which can happen at any time) with advanced notice.
  • Maintenance Services - All of California Management Companies require the best maintenance possible for all given rental properties.
  • Increase In Rents - The average rent in San Diego is $1,852 in comparison to $840 for other parts of the country. This shows the high-value housing a given rental can get, which a good company should be in tune with. 

To get some examples of good Property Management Companies in San Diego, here is a list of some: 

GOODLIFE Property Management

They have 4.7 stars on Google (over 200 reviews) and are ranked highly in numerous websites. For example, they are ranked number one on Yelp with over 200 reviews. 

This is a good Property Management Company because their website provides a wide variety of information that talks about their services, prices, and agents. This is all good to have because it shows that they are open with you and willing to discuss any questions.

They also provide guarantees of finding a tenant (average find takes 14 days only), 99% of the rent is paid on time, a step by step process of what to expect, and any eviction for pet damages will be covered on them. 

All of these benefits they are offering show the dedication they have for their clients. To prove that they care they also included client success stories on their website. 

This is one of the best Property Management Companies in San Diego and they prove it by connecting with their clients and ensuring all their needs are met.  

Ralston Team Properties

They have a 5-star rating on google with 50 reviews and they are also ranked 2nd on Yelp, which makes them a highly interactive company with their clients.

This is a good Property Management Company because they have a reliable website and app where you can have constant communication with them at any time. On their app you're able to pay rent, request maintenance, have and submit any records that are needed.

This is a good thing for a Property Management Company to have because they allow people to access the information at any time they would like and desire. 

Some of the services they provide are:

  • No Lease-Up Fees, Vacancy Fees, or Advertising Fees
  • $500 for eviction expenses, if were one to come up
  • A third-Party contractor that is selected due to their quality of work

Having a 5-star rating with that many reviews is almost impossible to maintain because that means all 50 of those people gave it a perfect rating. This shows is a promising company to look into when trying to find a property manager. 

The Comana Company, Inc.

This is another top Property Management Company in San Diego that has been in business for 20 years. They are fully licensed and insured property management companies. 

Some of the services they offer include:

  • They use over thirty well-known websites to get properties rented out faster
  • NO lease rental cost
  • Extensive background checks - FICO score, criminal, rental history, etc.
  • Complimentary Project Management 

Here are all the services they do provide as Residential Property Management

This is a good company because they have an A+ business rating from BBB along with a 5-star customer satisfaction rating from Yelp. 

 

What's Necessary To Know About Property Management Companies In Los Angeles?

Since Los Angeles is in California like San Diego, they follow the same type of state laws and requirements. So, if you want to see that information again, check that question where we went more into detail!

To get some examples of good Property Management Companies in Los Angeles, here is a list of some:

Baboudjian Properties

This is a Property Management Company in Los Angeles that is ranked number one on Yelp and has a 4.8 score on google with almost 50 reviews. Since they are both Commercial and a Residential they have more experience and knowledge than a regular company.

Some of the services they offer include:

  • Recommended Lists of repairs that can be done to improve the value of the property.
  • Intense Housing Market Analysis to ensure that the property is maximizing its value enough for the landlord.

Many of the clients that they have left great reviews on how personable they are and how they helped them for every step of the way. Reading experiences from real-life clients can be more than enough to make your decision.

GLASER Property Management

This is a family-run Property Management Company in Los Angeles that ranked highly on numerous websites for top property management in L.A.

Some of the services they offer include:

  • They provide property walks at least once a week to see if any repairs or issues arise and need to be attended to. 
  • They guarantee that your property will have tenants offering $200 above the asking price. This is due to their professional rental marketing.
  • Extensive background checks that involve calling their previous landlords, credit checks, and eviction checks.

If you want to check for more in-depth information, here is where you can find their complete set of services on their website!

If you love helping or working with family-owned businesses then this is the right place for you!

ONTRACK Asset Management

This is another Property Management Company ranking high in all searches and sites when looking up the best company in L.A.

Some of the services they offer include:

  • No Percentage based fee but rather a single low monthly fee (varies per property)
  • Re-lease for free if tenant break the term of the lease
  • Using all forms of advertising including online and traditional ways

If you want more information, feel free to check out their Rental Management Proposal!

 

What's Necessary To Know About Property Management Companies In Atlanta?

When looking for the proper Property Management Company in Atlanta, it's best to understand the different expectations they have in comparison to other cities. 

Luckily, Atlanta doesn't seem to have any real different set of laws to follow when having a rental property. Therefore, it's best to look back in this article and see the other “necessary” things to know from other areas! 

To get some examples of good Property Management Companies in Los Angeles, here is a list of some:

All County Cumberland Property Management

This company repeatedly ranked highly on numerous searches of the Best Property Management Company in Atlanta. They're members of the NARPM and members of the Cobb and Fulton counties board of Realtors.

Some of the services they offer include:

  • Transparent fees, which means no hidden fees.
  • Provides online access to all property reports on the company's online portal.
  • Provide maintenance work at the lowest price possible without losing quality

ATLANTA Property Management Group, Inc.

Another Property Management Company ranking high on numerous websites and web searches.

Some of the services they offer include:

  • They only look for tenants with a credit score of 550 or higher.
  • If the property is vacant for two weeks then they waive the first monthly management fee.
  • Some fees that are included are; Court, Attorney, Judgement, Process Server, and Eviction Filing Fees. 

One Source Affiliates, Inc.

Finally, for the last Property Management Firm that we recommend working with is One Source Affiliates, Inc. They were also found highly on numerous sites when looking for the best in Atlanta.

Some of the services they offer include:

  • 30 day period to find a tenant and if they're not found then they pay 2 free months of rent
  • Guarantee all tenants to stay for at least three months
  • They charge 8.5% of your monthly rent for management fees

 

What's The Best List Of Property Management Companies?

Knowing the best list of Property Management Companies can help in numerous ways. They mainly help by providing a foundation of what to look for in companies near you!

Here is a list of the best Property Management Companies to learn from:

 

Are Property Management Companies Worth It?

YES! They are totally worth it if you are just trying to rent out your property and make a quick buck without having to worry about handling the property on your own. They can make the process go by smoothly and all you will see is that constant income coming in every month.

If you're looking to scale and build a large real estate rental portfolio, property managers are not only worth it - they're absolutely necessary!

The only time that it won't be worth it, is if you're trying to maximize your profits to the fullest along with putting all your focus on this single property.

Another reason not to go with a Property Management Company is if you're renting out to someone that is very close to you. The reason for this is because you're renting out to someone you trust and have open communication with.

Good communication is key when renting out your property and that's why it's better to have a Property Management Company taking care of it if you don't want to do business with a random person.

Overall, in the grand scheme of things, Property Management Companies are worth it and should be considered whenever someone has vacant properties that need to be rented out.

 

Final Thoughts On Property Management Companies

Dealing with Property Management Companies can be a blessing knowing that you don't have to do anything besides having constant income coming in every month. 

When selecting the best Property Management Company, you need to know what you're looking for and assess the strengths of each one. That's why it might take a fair amount of time to compare numerous management options. 

That's why it is our goal to provide you with this Ultimate Guide when finding the best possible one. We want you to maximize your earnings for your rental property, by selecting the perfect company!

We hope you enjoyed Property Management Companies: The Ultimate Guide! What's your favorite thing about property management? Leave us your thoughts in the comments below!

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