How Realtors and Property Managers in Atlanta Can Join Forces

Real estate is an industry that rewards experience. The more you know about trends in your local area the better you can help your clients. This holds true for both real estate agents and property managers. That is just one reason our team of property management experts chooses to partner with local realtors. We want the best for our clients, so we partner with expert agents to get them the best results. If you are a realtor in Atlanta we invite you to join our Realtor Referral Program.

What Realtors Do

As a realtor you are committed to staying up to date with the real estate industry so you can help your clients to buy low and sell high. The best local realtors are constantly researching market trends and looking up comps for their clients. Pricing a home correctly means your selling client will sell their home quickly and earn close to what it is valued at. Your buying client needs to know which homes are overpriced, and which are a good value. When a realtor does their job right they will help their clients buy and sell, and they will earn a commission. 

What Property Managers in Atlanta Do

A property manager at a full service company like Specialized Property Management Atlanta takes care of everything during the rental cycle. This includes advertising, showing, lease preparation, screening, collections, maintenance, inspections, and more. Part of our job is to help property owners price their rentals correctly, which brings in high quality tenants quickly. Being experts in areas like screening and inspections means property owners see less turnover and save money over time. When we do our job correctly we see happy tenants, happy property owners, and a steady income from management fees.

Why Property Managers and Real Estate Agents Should Join Forces

It may sound counterintuitive for realtors and property managers to work together. After all, a realtor only gets paid when their client decides to buy or sell. And, property managers only get paid when their clients choose to rent out their homes. However, after years of experience in the real estate industry we know that our clients have many reasons to sell their investment properties. While real estate investment is a great way to make money, it isn’t right for everyone. In the same way, some of your realty clients may look at the current market trends and decide to rent out their home instead of selling. Neither of these scenarios mean you are a bad realtor or we are bad property managers, they simply mean our clients want different services.

When a client decides to sell their investment property they often ask us for a referral. We want to make sure that our clients receive the best service possible when they work with a realtor which is why we only refer clients to realtors we have a relationship with. As a realtor we are sure you want the best for your client who decides not to sell. When you refer your client to our property managers in Atlanta we guarantee that we will help them turn their investment into a success. 

Specialized Property Management Atlanta Realtor Referral Program

How can you benefit from referring your clients to Specialized Property Management Atlanta? Beyond knowing your clients are in good hands, when you join our realtor referral program you can earn money. For each client you refer who signs a management contract we will pay you a $500 referral fee. Even better, there is no limit on the number of clients you can refer and earn through.

But what about your clients who decide to sell after a year or two of renting out their home? Some property management companies buy and sell properties in addition to managing rentals. At Specialized Property Management Atlanta our focus is on managing single-family rental homes. We do not have realtors who buy and sell, which means when our clients decide to sell they need a realtor. Why does this matter? When our clients decide to sell we must refer them elsewhere. We maintain a list of realtors we parter with through our Real Estate Agent Referral Program. That means when your client is ready to sell we refer them right back to you. You won’t lose their business by referring them to our property management company.

Protecting Your Reputation

As an established Atlanta business we know how important a good reputation is. Your reputation is based not only on the things you do but the people you surround yourself with. And, in the real estate industry your reputation and expertise are what matter most. When you refer your clients to any third party, whether it is a construction company or financier, you are putting your own reputation on the line. So how do you know you can trust Specialized Property Management Atlanta? Referring your clients to a property management company you don’t know is potentially dangerous for your reputation and your future sales. If your client has a bad experience they may not trust your judgement. Even if they do enjoy the management their business might be taken if that property management company also offers real estate services.

Your clients should never settle for less than the best property managers in Atlanta, and when they choose to work with Specialized Property Management Atlanta that is exactly what we offer. With Specialized Property Management Atlanta you can be certain your reputation, expertise, and future sales are protected. Plus, you will earn money for each referral. You really have nothing to lose by partnering with Specialized Property Management Atlanta!

7 Specialized Guarantees Your Clients Will Love

In fact, we are so confident that our clients will be satisfied with the services we offer we provide 7 Specialized Guarantees. Our 7 Guarantees include:

  • Quality Tenant Guarantee
  • Competitor Price Match
  • Money Back Guarantee
  • Legal And Accounting Compliance Guarantee
  • 100% Satisfaction Guarantee
  • Leading Technology Guarantee
  • Customer-For-Life Guarantee
  • Eviction Protection Guarantee

Our 7 Specialized Guarantees ensure your clients never have to wonder if they are getting the best deal or best service. And if your client ever has an issue with our services we promise to do everything we can to make things right. As a real estate agent you can feel confident that when you refer your client to our team of experts they will get the superior service they deserve.

What Our Clients Have to Say

We know that our 7 Specialized Guarantees only mean so much without the positive reviews of our clients. If you’re curious how our property owners and tenants feel about our services take a look at our customer reviews. Specialized Property Management Atlanta has an A+ rating with the Better Business Bureau and an average rating of 4.5 stars on Google reviews. Read what a few of our customers have to say about our property managers in Atlanta:

“I was on the fence about whether or not I needed someone to help me manage my rental homes. After I realized the difficulty of doing so on my own, I turned to Specialized Property Management. I had gotten many referrals and am so glad I found them. They are true professionals- extremely efficient and courteous. It was a seamless transition and SO worth the money. Jarrod and Tim are efficient,responsive, and pleasant to work with. I would highly recommend them to anyone that is considering a management company. A+” 

Google Review from Ashley B.

“We have worked with SPM for over 10 years as a property manager for our property and have been 100% satisfied with everyone on their team. Everyone is available to quickly answer questions or solve any problems. I would recommend SPM to anyone seeking a property management team.”

BBB Review from C. M.

“Specialized Property Management has been very instrumental in vetting and placing qualified tenants into my rental property. Communication with the whole Specialized team is second to none. I would recommend Specialized Property Management to anyone looking to rent out their property with very little time spent empty.”

Google Review from Manny B.

To read more testimonials from property owners and tenants visit our testimonials page

How to Join Our Real Estate Agent Referral Program

What are you waiting for? Start referring clients today and earning your referral fee. Visit our Realtor Referral Program page and fill out the form to submit your referral. As soon as your client signs a management agreement you will receive your $500 referral fee. And when your client is ready to sell again we will refer them right back to you.

You and your clients can learn more about our top rated property management company, including information about our full range of services, by visiting our services page or our FAQ page. Still have questions about our Realtor Referral Program? Give us a call anytime at 404-596-8454 and we would be happy to answer them!

With proven processes and experienced professionals Specialized Property Management Atlanta is the company your clients need to turn their investment into a success! 

How to Choose the Best Insurance for Your Rental Property

We often speak to first time rental property owners about the importance of maintaining insurance on their properties, and how property insurance differs between a primary residence and an investment property. Insurance on your Atlanta investment property, sometimes referred to as “Landlord insurance”, is not just a good idea, it is a must. Real estate investors need to know their investment is secure in the event of a fire, flood, or other disaster. However, unlike homeowner’s insurance investors do not need to be concerned with the contents of the home, that is what renter’s insurance is for. How do you know you’re getting great coverage, at a great price? Find out what you need to know about covering your investment by reading our short guide below.

Choosing a Reliable Insurance Carrier

To get the best coverage, a competitive pricing structure, and great customer service, you need to find a high quality, reliable company. Just like professional property management in Atlanta, not all insurance companies are equal. We recommend looking for an insurance company with an A+ rating from the five insurance rating companies. There are several factors that go into determining an insurance carrier’s rating, but one of the most important factors is their creditworthiness. The company you choose should have good credit and a solid claims payment history. You need to know that if you submit a claim the company who holds your policy will be able to pay it out.

Finding a Company Who Works for You

After you narrow down your list of high quality insurance carriers the next step is to find a company that is easy to work with and puts you at ease. We recommend looking at customer reviews to find out what other rental property homeowners have to say about each company you are considering. Remember, if you experience a catastrophe you will have to deal with your insurance company’s representatives. The carrier you choose should provide a 24-hour claims hotline and customer service. Their representatives should be reliable and professional. If you need help finding a reputable company reach out to a member of our management team for a recommendation. After decades in the property management business we have dealt with countless insurance companies.

Great Rental Property Coverage: What is It?

When you are shopping around for an insurance policy on your rental home what should you expect each policy to cover? At a basic level your policy should cover damages to the structure of the property, damage to any contents that belong to you, and liability associated with having a tenant. We recommend finding a policy that covers your property up to $1 million. As professional property management in Atlanta we cannot stress enough just how important comprehensive coverage is. Although there are many circumstances you can plan for, such as a vacancy or eviction, there are just as many that you cannot anticipate. Lightning strikes, floods, fires, and more could wipe out your investment and leave you with nothing. Proper insurance coverage means that even when disaster strikes you won’t be liable for the cost of repairing or replacing your asset. 

When comparing policies try to find one that includes scenarios such as:

  • Water damage due to sprinklers or faulty plumbing
  • Dog bites
  • Lightning strikes
  • Theft and vandalism
  • Carbon monoxide leaks
  • Arson

These scenarios are not covered on all insurance policies. Even if your policy limit is $1 million you could be left paying out of pocket for losses due to the above situations. That is why it is important to read through the details of what is covered before choosing a policy.

Do You Need a Broad Form for Your Rental Property?

As we stated above not every type of property damage is covered on a basic investment property insurance policy. Basic insurance policies will cover most of the common damages that could occur at your property, such as fire and theft. A broad form policy provides wider protection for specific situations such as explosions or water damage from a sprinkler system. For extra protection many insurance companies offer special form insurance which covers all losses, except those specifically exempt on the policy.

So, which type of policy should you purchase for your investment property? That depends on the level of risk you are willing to take and the amount you want to spend on your premiums. Basic insurance covers the least, and is therefore the most affordable. Broad form insurance provides a wide range of coverage, and will likely cover most circumstances you will encounter. It is more expensive than basic insurance coverage, but still affordable for most rental property homeowners. Special form insurance will ensure your property is covered in almost every scenario, which puts many property owner’s minds at ease. However, it is the most expensive type and can eat away at your profits. As a property owner you should get multiple quotes for insurance coverage and review the details of each before deciding which one makes sense for your rental home and your budget.

What About Vacancy Coverage?

Property owners often ask us if they need a policy with vacancy coverage. In order to decide you need to understand what vacancy coverage is because this type of coverage is often misunderstood. It does not cover a vacancy in which your tenant moves out when their lease expires. It also does not cover the typical costs associated with a turnover such as rekeying and cleaning. Standard vacancies and turnover costs are a predictable part of professional property management in Atlanta. So what does vacancy coverage do? This type of coverage kicks in when a tenant breaks their lease leaving you without rental income. Turnover is expensive, but with proper planning and saving most rental property owners have no problem budgeting for it. However, if a vacancy comes early some property owners find it difficult to cover the costs of a turnover. Vacancy coverage is rarely included in basic insurance policies, but it can make a big difference if your tenant moves out unexpectedly, leaving you without income and with turnover expenses to pay out.

Replacement Cost or Depreciated Cost: It Makes a Difference!

Insurance companies cover losses by paying you for the items that were lost. But the way they determine the value of your lost items matters. Your insurance policy may cover your lost items based on their depreciated cost or their replacement cost . Here is what these terms mean:

  • Depreciated Cost: Your insurance company will value items lost at your rental property based on what they were worth at the time of the loss. For example, your 10 year old water heater is likely worth $100 or less if you were to sell it at a garage sale or marketplace.
  • Replacement Cost: Your insurance company will value an item based on how much it costs to replace that item with a brand new version. For example, if you were to replace your 10 year old water heater with a brand new one you could expect to pay between $500-$1000. 

Policies that cover replacement cost are typically a better use of your money because if a loss occurs this policy will allow you to replace the items rather than just recoup a fraction of the cost to replace them. However, not every rental homeowner wants to replace their rental home after a loss. Before purchasing a policy it is important to decide what you would do in the case of a loss, so you can determine whether you want a policy that provides replacement costs or depreciated costs.

When You Need Ordinance and Law Coverage

Part of our job as professional property management in Atlanta is to ensure your investment property stays safe and habitable for your tenants. But what happens when housing codes change and your property needs to be updated? Costs associated with bringing your property into compliance can be high, which is why some property owners opt for ordinance and law coverage. If you’re considering ordinance and law coverage it may be helpful to speak to one of our professional property managers. Our experienced team stays up to date with local laws and ordinances in order to keep all of our properties up to date. We can help you determine if your home needs this extra coverage.

For Professional Property Management, Call the Experts

There is a steep learning curve when it comes to property management. Not only do you need to know the ins and outs of choosing a high quality insurance company, you need to be an expert in every aspect of the rental cycle. That includes marketing, advertising, rent collections, showing, screening, inspections, and more. Investment property owners who choose to self-manage or hire a “discount” rental property manager often end up making expensive mistakes in at least one of these areas. Don’t settle for anything less than property management provided by experienced professionals. Specialized Property Management Atlanta is the team you need to help you turn your investment into a success. To find out more call us today at 404-596-8454.