Many Atlanta rental property owners look for ways to grow their real estate investment portfolio and increase income. There are many advantages to having a more extensive portfolio of properties. Still, there are also some things that investors need to be aware of before making the decision to buy more rental homes.
Our Atlanta property management experts want to make sure you know what you're getting yourself into when growing a real estate investment portfolio! Here is what landlords need to know when buying additional Atlanta rental properties and what they should do if they're ready to take on more work!
More Rental Homes = More Work
As you add to your portfolio, the amount of work it takes to manage it grows exponentially-especially if you're managing Atlanta properties by yourself or even as a team with family members or other investors. Are you ready for more work?
If you've managed a rental property on your own, you know that just one rental is a lot of work. From property maintenance to screening and managing tenants, a single property can take over your nights and weekends while you also maintain a full-time career. You know that those middle-of-the-night emergency calls can be stressful, as well.
While the income from one Atlanta rental property might make the daily work of being a landlord worthwhile, taking on another investment property doubles the amount of work on your plate! You'll also experience more income-but not without dedicating double the time and effort to manage each property effectively.
Atlanta property management companies can help alleviate some of that stress and additional workload while offering valuable insight on how best to grow a real estate investment business successfully.
More Rentals = More Tenants
Even the best Atlanta rental properties are only as good as their tenants. If you're looking to expand your portfolio, it's important to think about how many new renters you'll need to generate rental income from each property. A single Atlanta, GA rental may have just one tenant, or it could be home to several residents who must meet the requirements and be on the lease.
Along with more tenants, managing multiple rentals also means dealing with more requests and complaints. To grow your Atlanta real estate investing business successfully, make sure you have procedures and resources in place to screen and place more excellent tenants and manage them well! Keeping tenants happy helps improve renewal rates and returns.
More Rental Properties = More Hands On Deck
With more properties and tenants, many DIY landlords quickly discover they need more help, too! In many cases, there simply isn't enough time in the day to maintain a full-time job and managing rentals effectively as a self-managing property owner.
However, not having enough time to do it all doesn't mean you have to give up your job or your most profitable rental homes. Most real estate investors bring in help when adding a new property to an investment property portfolio.
If the idea of an Atlanta property manager doesn't feel quite right, be prepared to build your own team-and manage them. To deliver quality rental homes in Atlanta, you'll need help responding to tenants, providing routine maintenance and responding to repair needs, and collecting the rent.
Assembling a team on your own is one option. However, you'll also need to pay each employee or contractor, plus manage them to ensure every detail is taken care of. Managing the people you need to care for your properties might not be any less work or free any time in your schedule on top of working your full-time job.
A Property Management Company Provides Expert Hands
Most landlords find it easier (and more cost-effective) to hire a professional Atlanta property management company instead of finding contractors or employees to manage investment properties and tenants. With a property manager, investors only have to find the best professionals in Atlanta, then let them do the work!
The best property managers already have the resources you need to:
- Help you find excellent properties to add to your portfolio
- Market rentals and place quality residents
- Handle routine maintenance and all repairs
- Take care of rent collection (including tracking down late payments)
- Financial reporting
No matter how big you grow your portfolio, the right property management team can handle the work it takes to maximize your returns! Choose a property manager that knows how to maintain ROIs for larger portfolios.
Experience Better Growth With Atlanta Property Management
Whether you’re a landlord who wants to grow your portfolio or an investor looking for the next opportunity, it all comes down to the ability to manage the additional work required for success. Landlords can build teams on their own-or they can choose Atlanta property managers that are experts in managing rentals and maximizing revenue.
Revolution Rental Management has helped many owners with this exact challenge by providing expert management services, so landlords have more time to enjoy more income! If you want help growing your rental investment portfolio, get in touch! We provide property management services and solutions that allow you to invest wisely without worrying about the details.