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| Kings Bay, Georgia Property Management Warning Flags! |
When you begin your search to screen and hire a Georgia Property Management firm in Kings Bay, Georgia you will do well to consider five vital items. These are some of the characteristics Flag Property Management would consider warning flags when interviewing property managers. These characteristics do not necessarily indicate that a property manager should be avoided. But these five points should cause an investor to think about the likely weaknesses of the property management firm.
1.) Financial Statements and Bookkeeping
Most quality property managers in Kings Bay, Georgia have dedicated bookkeeping personnel. Georgia property management may not seem overly complicated. But rest assured that many property managers fall short in this vital financial area. We at Flag Property Management think a serious Georgia property manager will have high-end software and dedicated bookkeeping personnel.
At Flag PM, we find Georgia property managers who try to get by “on the cheap” rarely have accurate accounting. This means their landlords likely will not receive quality monthly statements. You surely know as an investor that it’s critical to have your books in order. Choosing a Georgia property manager that provides you with timely statements and keeps accurate financial records is vital for your profit decisions.
2.) Unlicensed Georgia Property Management Firms or Representatives
A lot of US states, including Georgia require that a property management firm have a broker of record licensed in the state. It’s important to know the landlord / tenant laws in the state of Georgia and be sure your Kings Bay, Georgia property manager is licensed with the Georgia Real Estate Commission. Regardless of what a state’s law requires, a savvy owner / landlord should want a property manager to have some sort of real estate licensing, both from a knowledge standpoint and from an accountability standpoint.
For information on Flag Property Management call us at 912-322-8883 or visit our websites at:
- Corporate: www.flag-propertymanagement.com
- St. Marys: www.StMarysGaPropertyManagement.com
- Kingsland: www.KinslandGaPropertyManagement.com
3.) Start-up/no References in Georgia Property Management
An owner / landlord should be cautious when working with a Kings Bay, Georgia property manager that is just getting started. This is often evident if the firm does not have references to provide. We at Flag Property Management find that many individuals, especially real estate agents or firms are looking for an additional source of income. Then they jump into Georgia property management with no real passion or plan to succeed in property management.
To be frank, many start-up property managers find the business tougher than expected. In addition, they often find the income is not as high as originally projected. This is especially true when compared to the high sales commissions they earn selling homes in Georgia’s markets. Of course, this is one of Flag Property Management’s key points on why you can feel confident in choosing us to manage your Georgia invest! We ONLY do Property Management!
4.) Super Low Fees for Comparable Georgia Property Managers
At Flag Property Management we understand why investors shop for Georgia property managers with low fees. But we strongly advise against this. As an investor, having quality Georgia property management is an important component to the long-term success of your rental property. Any Georgia property management company standing on their cheap fees is almost certainly providing equally cheap service.
Yes, it appears attractive to less savvy investors at first. But hiring based on "cheap" Georgia property management almost always ends with one of two outcomes: 1) The quality of the financial statements, other record-keeping (e.g. leases and contracts), or the overall property management suffers 2) The property management firm shuts down because it’s not profitable. Either way, the owner / landlord is likely to find themselves looking for a new Kings Bay, Georgia property management firm.
5.) Lack of a Marketing Plan for the Kings Bay Market
Managing a property in Kings Bay, Georgia is really half of the equation. The other half is smart leasing. As an investor you surely want to avoid a high vacancy rate. If the Georgia property manager cannot describe their rental property marketing plan for the local Georgia market, you should remain skeptical. The firm's / agent’s ability to find, screen, and capture quality tenants for your rental property is important. A quality Georgia property manager will have a proven strategy to put tenants in your rental.
Georgia property management is not brain surgery. However, there are good property managers and bad property managers throughout Georgia. The Kings Bay, Georgia market is not different. An investor looking to hire a property manager in Georgia should carefully the warning flags mentioned above. Then, make an informed decision on which Georgia property management firm to hire for your Kings Bay, Georgia investment property.
