Let’s Get Straight to It:

Responsibilities of a Landlord

As a landlord, your primary goals are:

• Finding and keeping quality tenants: Long-term tenants reduce turnover and maintain steady income.
• Maintaining your property: Preventative maintenance is key to preserving the property’s value and avoiding costly repairs.
• Managing the investment: Decide whether to handle the day-to-day responsibilities yourself or hire a property management company.

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Property Management: Is It Right for You?

Deciding whether to hire a property management company depends on your circumstances. Here are some considerations:

When to Hire a Property Manager

• Distance or frequent travel: If you live far from your rental property or travel often, a property manager can handle emergencies and routine tasks.
• Limited time or skills: Screening tenants, managing leases, and handling maintenance can be time-intensive. Property managers have expertise in these areas.
• Avoiding tenant stress: Late payments, lease violations, and disputes can be handled by professionals, sparing you the headache.
• Keeping up with laws: Property managers stay informed about tenant laws and ensure compliance.

Costs of Hiring a Property Manager

Expect to pay a management fee of 8-12% of the monthly rent, plus a leasing fee for tenant placement. Weigh these costs against your expected profit to determine if it’s worth it.

Finding a Reputable Company

If you choose to hire a property manager, reach out to me for trusted referrals in Newnan, Peachtree City, and surrounding areas.

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Being a Hands-On Landlord

If you prefer to manage your property yourself, here are the key steps to get started:

1. Determine Monthly Rent

Set competitive rent by researching similar properties in your area. I can provide a detailed market analysis to help.

2. Open Separate Bank Accounts

Create separate accounts for property-related income and expenses. Reserve 25% of rent for future repairs and maintenance.

3. Establish Tenant Rules and Policies

Have clear policies in writing, including:

• Rent payment procedures and deadlines
• Late fees
• Rules about pets, smoking, and occupancy limits

4. Prepare a Rental Application

Include criminal and credit screenings and authorization forms. Templates are available online or consult a real estate professional.

5. Make Your Property Tenant-Ready

• Address necessary repairs and upgrades.
• Ensure the property meets safety requirements with smoke detectors, carbon monoxide detectors, and fire extinguishers.

6. Understand Local Laws and Regulations

• Familiarize yourself with Georgia tenant laws and fair housing regulations.
• Consult a real estate attorney if needed.

7. Obtain Proper Insurance

Secure “dwelling” insurance for property damage and liability coverage. Consider a home warranty for appliances and systems.

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Attracting and Screening Tenants

Marketing Your Rental

List your property on reputable websites, local community boards, and social media platforms. Include high-quality photos and a detailed description.

Screening Applicants

• Conduct credit and criminal background checks.
• Verify employment and rental history.
• Collect security deposits and first month’s rent before move-in.

Signing the Lease

Use a legally compliant lease agreement. Include clauses that protect your interests, such as cleaning requirements at move-out.

Tenant Walkthrough

Document the property’s condition with photos and notes during a move-in walkthrough to avoid disputes over the security deposit.

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Bonus: Navigating Tenant Laws in Georgia

While Georgia’s landlord-tenant laws are less restrictive than in some states, it’s still crucial to stay informed. Here are a few highlights:

• Provide written notice for rent increases or lease terminations.
• Maintain the property to meet safety and health standards.
• Follow proper procedures for evictions, including court filings and notices.

For specific guidance, go to the Georgia Website to download a full copy of the Georgia Landlord Tenant Handbook. Or, consult a local attorney or reach out to me for resources tailored to Southside Atlanta landlords.

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Your Landlord Journey

Whether you’re managing your property independently or working with a management company, being a landlord in Newnan, Peachtree City, or Southside Atlanta can be a profitable venture with proper planning and knowledge.

If you have questions about purchasing a rental property, setting rent, or finding trusted contractors and resources, I’m here to help. Let’s ensure your investment thrives in this growing real estate market.