A part of my Georgia real estate brokerage business involves leasing and property management. I welcome the opportunity to assist tenants (who will be buyers one day) in the search for a great place to rent. When we find that place, I also offer the owners my services to manage the rental property if they do not have a company or plan in place. For those owners who decide to go it on their own, I try to give them some professional Georgia landlording advice from years of experience and hard knocks along the way.
Number one, property management/landlording in Georgia is not to be taken lightly. Property Management is not a hobby. If you are going to be a 'do it yourself' landlording, treat it as a business. Set definite processes in place for rent collection, security deposits, repairs, accounting, and so forth. Even check with your tax professional for federal and state tax implications for rental properties.
Number two, property management/landlording in Georgia is different from other states in the US. Familiarize yourself with the Georgia Landlord/Tenant Law and find how it works in the county where your property is located. For example Fulton County has a court specifically for Landlord/Tenant issues. If your tenant files a complaint, this court will handle that complaint in Fulton County.
Number three, use a lease agreement that is specific to Georgia. Yes, you can go to the local office supply store or lonline and purchase a copy of a lease, but will that lease protect you in a Georgia court? I highly recommend getting a Georgia licensed real estate professional involved so that you are using a Georgia Association of Realtors (GAR) lease agreement. These folks wrote the lease and helped write the law. I use the GAR forms in my property management business and am happy to assist you using these Georgia approved forms.
These are three of the biggest pieces of advice I can give to people looking to 'do it yourself' landlord in Georgia. For a professional consultation to get you started in 'do it yourself' landlording in Georgia, please give our office a call at 404 923 4210. We look forward to being of service to you.
Office 404-418-8092 Cell 404-246-3210 Fax 404-991-3770