My New Outside Blog: August 2011

'Do It Yourself' Landlording in Georgia

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.

J W Group Real Estate

 

    

LOGO - Sales

Office 404-418-8092 Cell 404-246-3210 Fax 404-991-3770

EMAIL US!    

         

Comment balloon 0 commentsJordon Wheeler • August 29 2011 03:24PM
'Do It Yourself' Landlording in Georgia
share
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… more
Real Estate Recovery in College Park, GA - New Shopping Center on Old…
share
Last week I was driving on Old National Highway in College Park, GA and sure enough work has began on a new shopping center. With all of the foreclosure challenges in College Park, GA there are some investors who still believe that Old National… more
Norcross - Peachtree Corners - Medlock Corners Townhome for Rent
share
Norcross - Peachtree Corners - Medlock Corners Townhome for Rent Three bedroom, two and half bathroom townhome in the Medlock Corners subdivision is coming available for lease in the next 30 days!!! This townhome features a dramatic two story… more
Georgia Dream Update - Friday, August26, 2011
share
Georgia Dream Homeownership Program continues to be a viable option to assist homebuyers in the purchase of their first home. The program provides $5000 or more to qualified buyers to be used as down payment and/or closing costs. For many of… more
I Can't Believe It Happened Again
share
Yesterday afternoon I received a voicemail message from a young lady stating that she was calling about renting one of my listings. She saw my name on the Internet by the address, so she needed to speak with me. While I had no idea what listing… more
Fairburn 30213 HUD Home - 670 Buckingham Terrace
share
Fairburn 30213 Buyers - you want space? You got it! This Fairburn 30213 HUD home features over 3700 square feet of space with five bedrooms and three bathrooms. Everybody gets their own bedroom - yippee!!! Also the price of this spacious… more
East Point, GA 30344 -Increase in Utility Bills
share
East Point, GA real estate just got a little more interesting. Residents who use the utility services of East Point are going to see significant rises in the cost of their services. Both water/sewer and electrical billing are being affected with… more
Buying Fairburn GA 30213 Foreclosure - Initial Cash Outlay
share
Buyers wanting to purchase a foreclosure in Fairburn, GA 30213 need to be financially prepared with cash for three items upfront. The deals on foreclosures in Fairburn, GA 30213 are really great, but without proper preparation of these three cash… more
This needs to be seen by as many Realtors as Possible! Closings MAY…
share
Excellent information on changes in the appraisal process. You may have a pending contract that gets affected by these changes, so read and be prepared. Pass this along to every Realtor you know. Re-blog this post, whatever you can do to get the… more
Don't Wait Until They Are Three Months Behind
share
In Atlanta, GA there are lots of folks who are performing property management and not treating it as a business. They put an ad on craigslist, get a tenant with a bunch of cash, and sign a lease agreement they purchased online which does not comply… more