The past few months have brought uncertainty to many people in our community and around the world. We are doing our best to keep you up to date on what is happening at your rental property, but we understand that you and your tenants may still have questions. Our team is working hard to communicate with you and resolve any concerns. Specialized is one of the top Atlanta property management companies, in part because we utilize the latest technologies for property management. We are proud to say these advanced systems have made an incredible difference in our ability to manage and protect your property during this time. Read below to learn more about the ways Specialized Property Management Atlanta is keeping your investment stable right now.
Leasing Your Rental Home
One of the many reasons investment property owners work with our Specialized team is to reduce vacancy days and find highly qualified tenants. During this unprecedented time of lock-down and social distancing, we want you to know safety is our utmost priority. Here is how our leasing process allows us to lease your property quickly, and safely.
- Finding a high-quality tenant lowers your risk of eviction and maximizes your revenue. Rental IQ™ is a proprietary technology that allows us to rigorously screen tenants, bringing in only the best. Our software checks the industry’s largest database of rental payment history, performs a criminal background check, and performs a credit check. In addition, the software uses advanced methods to analyze factors which lead to reliability. This advanced, industry-leading technology sets us apart from other Atlanta property management companies.
- Rental property showings have been disrupted for many property management companies because of social distancing requirements. But thanks to our secure electronic entry boxes, that isn’t the case for us. Prospective tenants can easily view a property in person without putting anyone at risk for COVID-19. This feature also gives prospective tenants the flexibility to view a rental property on their own schedule, which has led to an increase in showings and applications.
- 3D virtual “walk-through” technology allows prospective tenants to feel like they are walking around the property, all from the comfort of their own home. We take 4K/HDR still photos from multiple angles around your property, then merge them together creating a realistic walk-through experience. Tenants love seeing the floor plan and details of the home with this platform, and we have seen an increase in the number of rental applications for homes that utilize this technology. To see an example, visit this page.
- Atlanta property management companies are now required to pay for listings on Zillow, one of the most popular places for tenants to search for rental properties online. Specialized Property Management Atlanta has opted to continue listing on Zillow and goes even farther by paying for a premium listing. Premium listing ensures our properties are highlighted, increasing the number of inquiries and applications.
- Specialized Property Management Atlanta now offers a new option for security deposits. Responsible, highly qualified tenants don’t always have the large up-front cash on hand to afford a security deposit, especially when you take into consideration other moving-related costs. That is why we offer an alternative that replaces the traditional security deposit with a surety bond. Tenants are still subject to rigorous screening, but with this unique program, they can pay a small monthly fee instead of a traditional security deposit. This option does not increase the risk for owners and allows your property to appeal to a wider number of applicants. According to our surveys, tenant satisfaction has improved by 80% as a result of this feature.
Even in this time of crisis, our Atlanta property management company will continue to work hard for owners and tenants. In fact, leasing and renewal rates last month were higher than the previous four months’ totals. If you have any questions or concerns about the leasing or renewal process please feel free to reach out to one of our leasing agents.
Routine and Emergency Maintenance
Before the current crisis, we made use of leading technology to track repair requests and completion. Tenants submit work orders online through their tenant portal, any time of day or night. Our team responds quickly to maintenance requests, keeping your tenants happy and safe. In fact, repairs on the homes we manage are completed 3.2 times faster than owner-managed and home warranty-managed repairs. Tenants report high levels of satisfaction with the quality of our maintenance and response time, directly leading to higher renewal rates. According to our tracking system, 77% of renters reported that maintenance speed and quality was one of the main factors they considered when renewing their lease. Quick and effective maintenance is one way we set ourselves apart from other Atlanta property management companies.
Home maintenance doesn’t stop when the world is in crisis. Faucets still leak, refrigerators break down, and air conditioning systems need their filters changed. Property owners are responsible to keep their rental property safe and habitable, and with so many tenants stuck at home, this is more important than ever. However, we recognize the need to limit contact and stop the spread of COVID-19. We have put into place emergency protocols in order to keep our team and our tenants safe and healthy. Here is what we are doing to address repairs and maintenance at this time:
- Non-health and safety repairs may still be requested and will be addressed on a case-by-case basis. If both vendor and tenant decide to move ahead with the repairs we will conduct them. If either party decides to wait, we will put the repairs on hold until the current threat has passed.
- If non-health and safety repairs are made we will ensure strict COVID-19 protocols are followed. These protocols are put in place to minimize exposure for both parties.
- We are committed to protecting the health and safety of our Atlanta property management company and tenants, which is why we are putting routine assessments of occupied homes on hold. Assessments will be rescheduled as soon as possible.
Many of our competitors are suspending all repairs during this time, causing undue stress on Atlanta area tenants. During the month of March, we completed over 1,300 service orders, which is average for this time of year. Our top priority is the health and safety of our tenants, property owners, and team members. That is why we are committed to continuous services and enacting strict safety standards. If you have any questions about the safety measures we are taking at this time, please reach out to our team.
Our normal rent collection process provides stability to property owners, which is an important part of running any business. Predictable monthly cash flow allows owners to budget for routine maintenance, plan for emergencies, and save in order to expand their rental portfolios. Detailed accounting reports save property owners time and hassle during tax season, and are easily available on your owner portal.
Our Atlanta property management company already streamlines the rent collection process by communicating with tenants prior to their rent due date and offering automatic rent payments. However, as the current crisis unfolds we understand many tenants’ income is in fluctuation, and paying rent isn’t always as easy as it used to be. With that in mind, we have several processes that we hope will make paying rent easier for everyone involved. Here is what we are doing to help property owners and tenants:
- We provide multiple ways for our tenants to pay their rent. These include online payments made through our tenant portal, credit card payments, and cash payments made at one of our local retail locations. For more information about our rent payment options, contact our office today.
- Our team is working to negotiate temporary legal rent agreements between owners and tenants who need more options for paying rent. For example, property owners may allow tenants to put a portion of their deposit toward rent.
The current situation is dynamic, which is why we are watching rent collections closely and will contact you immediately if we have new information about your property’s rent collection status. While many Atlanta property management companies are seeing a severe decrease in rent collections, that isn’t the case for our company. Thanks to our professional team members and tenants, as of April 10th we have collected 91% of rents due. In addition, 5% of tenants have reached out to discuss payment plan options. We are working closely with those tenants and owners to determine the best plan for everyone involved.
Specialized Property Management Atlanta is Here for You
As we learn to navigate these uncharted waters, we would like you to know that we appreciate your trust in our professional property management team. With nearly 30 years of experience, we have seen plenty of ups and downs in the market, and have always weathered every storm, coming out stronger on the other side. While it is safe to say that we have never seen a storm quite like COVID-19, we remain confident that we can weather it just as well.
It is our hope that you and your family stay healthy and safe during this time. If you have questions about your property, your tenants, or any other aspect of your property management please feel free to reach out to our team.