Hiring a Management Company
Evaluate your current management company by asking yourself these questions:
Working with an effective property management company is the difference between under-performing income properties and those that maintain maximum lease rates in your market, full occupancy, and full market property value and ROI.
Beacon’s expert property management team has the experience and proven efficiency that allows us to consistently maintain pristine investment real estate assets, the highest occupancy rates in the market, consistent accuracy in reporting, the most practical budget rationales, and among the highest rates of resident satisfaction and engagement.
Beacon’s full-service property development support and management services offers investment property owners the complete range of both off- and on-site maintenance, sales and administrative management, including full HR, accounting, collections, contractor management and other services.
Property management is a detail-driven proposition. Beacon’s team takes great pride in our dedication to excellence in standard resident services and value-added resident programs, impeccable asset maintenance, preventive and safety maintenance diligence, and exceptional occupancy rates.
Our staff of top professionals are leaders in the local Atlanta property management industry—making Beacon the go-to organization for expert training and real estate investor services in all facets of property management in the region. And, our state-of-the-art digital systems offer our property management clients the Atlanta area’s most advanced modern platforms for communications and information to keep property owners up to date on every aspect of our management of their investment properties.
The questions below are important to ask when interviewing a Property Manager.
- Are they proactive rather than reactive in their communication?
- Is your Property Manager easily reachable in the office or via mobile phone?
- Is your Association receiving the benefits of volume purchasing?
- Is your Property Manager knowledgeable in construction and facilities management?
- Does your management company have the technology to forecast building maintenance issues before problems occur?
- Does your Property Manager have extensive knowledge with Insurance and Risk Management?
- Educated in Directors & Officers coverage, Fidelity Bond, flood insurance, property and personal loss assessment (for fire, liability etc.) and other policy coverages?
- Is your Property Manager informing the Association’s insurance agent of various safety features in your building that can significantly contribute towards a lower premium (i.e. fire sprinkler system, security system, building retrofitting, no filing of claims (especially water claims) within the past three years, etc.); which in turn can maintain or possibly contribute towards a reduction in your monthly homeowners dues?!
- Has your Property Manager received the proper education and certification to manage your Association in compliance with state law?
- Do they have the Association’s best interest when performing their duties?
- Spending Association funds prudently without sacrificing quality and workmanship.
- Vigorously pursue delinquent HOA dues (late fees).
- Improving the standard of living expected from home ownership.
- Striving to maintain and improve the value of your home or building?
- Do they have any conflicts of interest with vendor performance?
- Do they obtain several estimates for large improvement projects?
- Do they use licensed (and insured) vendors and contractors?
- Do they profit from service-related contractors, vendors or suppliers (at the HOA’s expense)?
- Does your current management company charge additional fees beyond the scope of the management agreement (i.e. messenger services, deposit services, withdrawl services, fax transmissions, additional fees for impromptu meetings, etc.)?
- Are you getting complete financial reports on a monthly basis (or when requested)?
Is your manager thoroughly prepared for Board and Association meetings including thorough knowledge of all governing documents of the HOA? Do they attend continuing education programs to keep informed on changing local, state and federal laws pertaining to property and association management? For More Information For more information about hiring a property management company, contact Beacon Management Atlanta at (404) 907-2112, to arrange to meet with an Atlanta property management and homeowner association development expert.