H there,
Could I please ask if anyone who would like to share their experiences with any Atlanta property management.
Has anyone had acquired or has a property managed by Key Property Investment,
http://www.keypropertyhomes.com/turn-key-process
I would really appreciated any comments about them.Thank you!
You may want to shop around before making your decision. Atlanta All Good Realty buys, sells, and manages properties for investors. It is a small company, but it offers each of its client individual attention. It is fast. It completes renovation in a week on average, rent out houses in two weeks on average in winter. Its fees and quality services are very competitive. it will provide references upon request.
[email protected] wrote:You may want to shop around before making your decision. Atlanta All Good Realty buys, sells, and manages properties for investors. It is a small company, but it offers each of its client individual attention. It is fast. It completes renovation in a week on average, rent out houses in two weeks on average in winter. Its fees and quality services are very competitive. it will provide references upon request.Is there any reason that you don't provide a list of your charges in this post so they can be discussed?
You will find that Australian property owners expect a lot of service included in the monthly management fees. Also they are not used to the absolute one sided agreement which is the 'standard' US fixed term management agreement. In Aust most if not all management companies agreements are, at most, for only 3 months with the majority for just 1 month. This is a performance issue where if the manager does not perform then we move the property on with no more than 1 month notice and certainly no penalty.
The Aust management fee per month is 5-8% with 1 weeks rent for finding tenant and no lease renewal fees (at all).
No fee for inspections. No fee for evictions of attendance of a case at the tribunal.
So on a $300 pw rental and 7 % fee the annual fee to the RE is about 1092 + $300 = $1392
In the US based on a 8-10% management fee and 1 month sign on and 1/2 month renewal $1300 + $1404 +$650 = $3354 (This on a 6 months lease renewed at 9% management fee)
A substantial difference in costs for much the same rent and much the same tenant issues.
Regards
Thank you for the comments and question. Yes, there are many reasons. But first I don’t believe excessive cost cutting can bring higher returns on investments. Our fees are very competitive in Atlanta, but I am almost certain you can always find someone charges less. The questions are what services you gonna get, and how much investment returns he can help you achieve.
Our fee structure is transparent and has room for negotiation for selected clients, depending on the services requested, the level of client maintenence required, and we reward client loyalty, referrals too.
We buy, sell, rehab, and manage properties. Generally, if we do everything for you, the fees are little less at each stage. But you can choose to use just some of our services. E.g. You buy, and rehab. We manage the property for you. If the property is poorly renovated, we have to do some work to bring it up to our standards, we will charge a little more to compensate the extra work we have to do.
In short, I would rather to discuss specific case individually to avoid any misperceptions.
Appreciate your question and comments.
Regards,
Mark
[email protected]Thanks you for your comment USA investor!
[email protected] wrote:Thank you for the comments and question. Yes, there are many reasons. But first I don't believe excessive cost cutting can bring higher returns on investments. Our fees are very competitive in Atlanta, but I am almost certain you can always find someone charges less. The questions are what services you gonna get, and how much investment returns he can help you achieve. Our fee structure is transparent and has room for negotiation for selected clients, depending on the services requested, the level of client maintenence required, and we reward client loyalty, referrals too. We buy, sell, rehab, and manage properties. Generally, if we do everything for you, the fees are little less at each stage. But you can choose to use just some of our services. E.g. You buy, and rehab. We manage the property for you. If the property is poorly renovated, we have to do some work to bring it up to our standards, we will charge a little more to compensate the extra work we have to do. In short, I would rather to discuss specific case individually to avoid any misperceptions. Appreciate your question and comments. Regards, Mark [email protected]If you are transparent you should then be posting details on your services including all fees.
Cheers, WICasaHunter wrote:H there, Could I please ask if anyone who would like to share their experiences with any Atlanta property management. Has anyone had acquired or has a property managed by Key Property Investment, http://www.keypropertyhomes.com/turn-key-process I would really appreciated any comments about them. Thank you! http://usapropertyadvice.blogspot.com/CH
I had a quick look at one of their properties for sale on their site.Sorry, Nothing whatsoever to do with property management but…… 6131 Deerfield Crt, year 1971 – too old and you are paying 44 per sq ft, I would not pay this price for this property.
Cheers, WI
worldinvestor wrote:[email protected] wrote:Thank you for the comments and question. Yes, there are many reasons. But first I don't believe excessive cost cutting can bring higher returns on investments. Our fees are very competitive in Atlanta, but I am almost certain you can always find someone charges less. The questions are what services you gonna get, and how much investment returns he can help you achieve. Our fee structure is transparent and has room for negotiation for selected clients, depending on the services requested, the level of client maintenence required, and we reward client loyalty, referrals too. We buy, sell, rehab, and manage properties. Generally, if we do everything for you, the fees are little less at each stage. But you can choose to use just some of our services. E.g. You buy, and rehab. We manage the property for you. If the property is poorly renovated, we have to do some work to bring it up to our standards, we will charge a little more to compensate the extra work we have to do. In short, I would rather to discuss specific case individually to avoid any misperceptions. Appreciate your question and comments. Regards, Mark [email protected]If you are transparent you should then be posting details on your services including all fees.
Cheers, WIThat is not the way we conduct business. Puls, I am not sure posting details here means transparent…Anyway, we are accepting new clients at the moment, but we have a client selection process in place. We make sure all the concerns, and questions get addressed with the clients we will work with. Regards,
[email protected] wrote:worldinvestor wrote:[email protected] wrote:Thank you for the comments and question. Yes, there are many reasons. But first I don't believe excessive cost cutting can bring higher returns on investments. Our fees are very competitive in Atlanta, but I am almost certain you can always find someone charges less. The questions are what services you gonna get, and how much investment returns he can help you achieve. Our fee structure is transparent and has room for negotiation for selected clients, depending on the services requested, the level of client maintenence required, and we reward client loyalty, referrals too. We buy, sell, rehab, and manage properties. Generally, if we do everything for you, the fees are little less at each stage. But you can choose to use just some of our services. E.g. You buy, and rehab. We manage the property for you. If the property is poorly renovated, we have to do some work to bring it up to our standards, we will charge a little more to compensate the extra work we have to do. In short, I would rather to discuss specific case individually to avoid any misperceptions. Appreciate your question and comments. Regards, Mark [email protected]Touch base with me I am out of Charlotte NC and had a team in Atlanta but going to focus more on my own back yard. I always felt it is best to stay in my own back yard and let you handle your area of expertise.
Alex
[email protected]If you are transparent you should then be posting details on your services including all fees.
Cheers, WIThat is not the way we conduct business. Puls, I am not sure posting details here means transparent…Anyway, we are accepting new clients at the moment, but we have a client selection process in place. We make sure all the concerns, and questions get addressed with the clients we will work with. Regards,
USA investor,
Here is the biggest issue you are missing, You are just not familar with our tenant pool, I am not defending or being critical of what a PM charges,
If you change property managers the tenants will stop paying, as they get confused, they have trust issues, many of these tenants have lost homes that were forclosed right out from underneath them, ( as we all know)..
The next thing they will do when the knew prop. manager shows up will be to present them with a laundry list of repair items. and they will only pay when those get fixed ETC ETC ETC.
Just ask anyone who actually owns a large portfolio of SFR's this is a huge issue, and your giving bad advice if your advocating changing property managers constantly because of what you precieve as performance issues. This is not Austrilia you cannot expect a PM industry to mirror your industry and charges.
Property management on a small scale 100 to 200 units is a thankless low paying job that agents just jump into searching for cash flow as the sales market is so bad, This is why this Poster is talking about providing a turn key product they make their money on the rehab and most likely a mark up on the property, As this is the american way we like to make a profit when we put deals together. Property management is just a necessary evil that comes with selling Turn Key. If you don't your clients get really poor service then you have really pissed off investors that will not do business with you or refer people to you. Its certianly why a company like TRR has gotten into the management side. And like I stated many others its a necessity.
Realize all these sales that are happening are for extremely low prices. Look at a 50k transaction for a RE broker… They gross 6% thats a whopping 3k split that with another brokerage then pay your cut to your broker and your working a RE transaction for less than 1k. And having all the work involved. have to sell a hell of a lot of houses to make a decent living if your going to be selling to Investors. The Aussie selling agents make far more than this per transaction and they just middle man it and have no RE license etc.. Do not pay Multiple listing fee's RE board fee's E&O insurance etc etc.
One thing we do have here in the US is a free market and everything is negotiable, I just do not think its prudent to negotiate the key item to success and that is PM… those that go cheap on this and have the PM just walk away from the property will understand this when they get a 5 to 10k bill for a house thats been vandalized, Airconditioning unit stolen etc etc.
jayhinrichs wrote:If you change property managers the tenants will stop paying, as they get confused, they have trust issues, many of these tenants have lost homes that were forclosed right out from underneath them, ( as we all know)..
The next thing they will do when the knew prop. manager shows up will be to present them with a laundry list of repair items. and they will only pay when those get fixed ETC ETC ETC..
……..Even if the house is recently rehabbed prior to the tenant moved into the property?
dhcp
Of course not in all case's…
the point I make is that changing managers during the course of the lease can lead to unforseen issues.
Cheers Jay…..very interesting and very informative feedback.
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