The Atlanta rental market provides outstanding opportunities for investors who want to earn positive cash flow and build profitable returns. However, if you own Atlanta rental properties and you live in a different city, state, or even country, it can be difficult to keep track of how your investment is performing. Working with a high quality property management company in Atlanta will help you stay informed.
Proactive Communication Strategies
You need a property manager who is able to communicate in diverse ways. When you live overseas, you won’t always have access to the phone, and time differences might make it challenging to get in touch. You’ll want to rely on emails, messages, and videos. Make sure your property manager is willing to provide you with information and answer your questions in these formats. You should get updates and data without even having to ask for it.
Innovative and Online Technologies
Following the cash flow generated by your rental property should not be difficult in this age of available technology. You need an online portal that enables you to follow the incoming rent and track when expenses are paid for things such as your management fee and maintenance items. You should be able to see reports when inspections are conducted and review important documents like leases. All of this needs to be accessible 24 hours a day and 7 days a week, especially when you are an overseas investor. Ask about technology before you agree to work with a property management company so you can be sure your needs will be met.
Understanding Market Rents
Your cash flow depends on the amount of rent you’re collecting, so another thing you need from your property manager is experience in the local market. As an overseas investor, it may be hard for you to know exactly what properties are renting for and whether your investment is priced competitively. Talk about comparable rents in the area so you understand why your home is earning what it is.
These are just a few ways to monitor your cash flow when you’re an overseas investor. If you’d like some help, or more information about how we keep our investors up to date, contact us at Bailey & Hunter.