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Property Management

Our team of local professionals at Mynd Property Management are different than other Atlanta property managers. Servicing the greater Marietta, Fayetteville, Griffin, Alpharetta areas, we leverage real-time data to consistently better our services, providing owners with seamless management experience.

Customers working with Mynd can rely on us as their trusted partner, providing them with a healthy investment, and their residents with a happy home. Residential real estate joins media and business as Atlanta’s greatest investments. It’s time to make your real estate investment work for you.

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Mynd's rental income guarantee

Rental Income Guarantee

We protect your rental income

If we place a resident and they fail to pay rent at any time during their lease, we reimburse you up to $5,000 in lost rent while we resolve the situation.

Mynd's property damage protection guarantee

Property Damage Protection


If a resident we place moves out and leaves behind property damage in excess of their security deposit, we will cover the difference, up to $5,000.

Mynd's eviction protection plan guarantee

Eviction Protection Plan


If a Mynd-placed resident fails to pay rent and an eviction is required, Mynd will cover the court costs and legal fees up to $5,000.


Pricing Plans That Suit Your Needs


Monthly Management Fee
Rental Leasing Fee
Lease Renewal Fee


Monthly Management Fee
Rental Leasing Fee
Lease Renewal Fee
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Rental Income Guarantee
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Eviction Protection


Monthly Management Fee
Rental Leasing Fee
Lease Renewal Fee
checkmark - feature included
Rental Income Guarantee
checkmark - feature included
Eviction Protection
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Property Damage Protection

Don't Take Our Word For It

Results You Expect

Your rental property is one of your most valuable assets. You expect concrete, tangible results, and Mynd delivers. We focus on measurable results that you can see.

Mynd offers faster leasing times

Faster Leasing

Quicker than average leasing times.

Mynd responds quickly to resident and owner communications

Quick Response

Less than 4 business hours for owners, less than 8 business hours for residents.

Mynd finds high quality residents

Quality Residents

Higher than average resident quality score (720+)

Mynd offers low delinquency rates

Low Delinquency

No need to worry about rental payments, less than 2% delinquency.

Mynd's high customer satisfaction scores show high resident satisfaction

High Resident Satisfaction

Consistently high customer satisfaction scores (Better than 4/5)

Mynd's NPS score shows higher owner happiness rates

Happy Owners

Net Promoter Score of 58 versus industry average of 7

Meet Your Local Superstars

We start by hiring the best people with deep local expertise.We equip them with the tools, technology and data. You get results.



Portfolio Manager

Jessy has more than 18+ years’ experience in Residential Management and Leasing. She has extensive knowledge of the Northern GA region and greater Atlanta market. As a licensed Real Estate Broker, she aspires to provide each client an incredible customer service experience while helping them reach their real estate investment goals.


Atlanta has the tenth largest economy in the United States and the 20th largest in the world. That means plenty of potential occupants, and Mynd’s property managers will make sure you get the cream of the crop! We’ll handle marketing, screening, and all the paperwork.

Our property managers will also take care of regular repairs, long term maintenance (like replacing your roof), and any emergencies, 24/7. And as good as your tenants may be, we know that there’s a certain level of discomfort that comes with money matters. Not for us! We’ll collect all the rent, handle the bookkeeping, and hold the security deposit

Resident Services



260 Peachtree St Suite 2200
Atlanta, GA 30303
United States

Mynd Property Management is local
(678) 695-8063


Atlanta has so many trees that it’s known as a city in a forest. Mynd’s Atlanta property managers will make sure any trees near your home are trimmed and well maintained so you can enjoy them rather than worry about them. Explore our resources below to learn more Atlanta rental properties including tips, tricks and more!

When a tenant occupies a room for only a partial term (month, week, day, etc.), the amount a landlord charges is known as “prorated rent.” 

Prorated rent is charged only for the number of days the unit is occupied. It’s based on a monthly rate rather than daily since a daily rate tends to be pricier. 

Here’s everything you need to know about prorating rent.

Why prorate? 

If your tenant moves in or out in the middle of the month or sublets to someone else, then it’s practical to use prorated rent. For example, if your tenant moves in on the 15th, which they often do, you can charge them a prorated amount for those days and then set the regular rent due on the first day of their first full month.

Explaining prorated rent to your tenant

Prorating rent isn’t a landlord’s legal responsibility, but it does help establish a good relationship with your tenant. A good relationship is essential. It makes your tenant more likely to re-sign (reducing the likelihood of vacancies), recommend other potential tenants to your properties, be a good tenant, and follow any rules you may have (like your fire prevention tips). 

How do I prorate rent?

There are four methods to calculate prorated rent. 

A Quick Math Lesson

Prorated rent at a rental property

Before moving on to the actual formulas for calculating rent, here’s a quick high school math lesson about performing the proper order of operations for mathematical equations. You’ll need to know this because the formulas for calculating rent tend to require multiple operations.

  1. Parenthesis
  2. Exponents
  3. Multiplication
  4. Division
  5. Addition
  6. Subtraction

The mnemonic device for this is PEMDAS, or “Please Excuse My Dear Aunt Sally.”

Method 1: Number of Days in the Year

This is the most accurate way to prorate rent when dealing with a year-long lease. Here’s the formula. 

((Monthly Rent X # Months in a Year) ÷ Number of Days in a Year) X Number of Days the Tenant is Paying For = Prorated Rent

Here’s the formula with a move-in date of September 15th with a rent of $1,500.

( ( $1,500 x 12 ) ÷ 365 ) X 15 = $739.73

This formula is slightly more confusing than the monthly one, so your tenants may require more explaining. The extra amount of money you'd make isn't worth the effort because a confusing formula may make your tenants feel like something fishy's going on. Best to keep things simple.

Method 2: Number of Days in an Average Month

This formula is based on the number of days per month, given that 365 days per year divided by 12 months is 30.42 average days. Here’s the formula:

((Rent ÷ 30.42) x Number of Days Occupied) 

Here’s the formula for when your rent is $1,200 per month, and the tenant is staying for ten days.

($1,200 ÷ 30.42) x 10 = $394.50

Method 3: Flat 30 Days (Banker’s Month)

This method entails diving the monthly rent by 30, no matter how many days are in the month. In some states, like California, this is the exclusive method used to calculate prorated rent. Here’s the formula.

((Rent ÷ 30) x Number of Days Occupied) 

Here’s the formula for when your rent is $1,200 per month, and the tenant is staying for ten days.

($1,200 ÷ 30) x 10 = $400

Method 4: Monthly Rent

Monthly calculations at rental properties for prorated rent

This is the formula for prorated rent based on the number of days in the month. Here’s the formula:

(Monthly Rent ÷ Number of Days in the Month) X (Number of Days of Rent Being Paid For) = Prorated Rent

Here’s the formula with a move-in date of September 15th with a rent of $1,500.

( $1,500 ÷ 31 ) X 15 = $725.80

In addition to requiring less explanation formula, the monthly formula has the advantage of making your tenant feel like they’re getting their money’s worth since it frames their rent in the short-term rather than the long term.

Considerations for Prorating Rent

These are some things to keep in mind when calculating prorated rent. Which of these influences your calculations will impact how many days you divide your rent by in your calculations.

  • The number of days in the month.
  • Months with 30 days: September, April, June, and November
  • Months with 31 days: January, March, May, July, August, October, and December
  • Month with 28/29 days: February
  • Is it a leap year?
  • What day of the month are you billing your tenant?
  • What’s the number of days in the first month?
  • What’s the number of days in the second month?
  • How much are you charging per day for the first month?
  • How much are you charging per day for the second month?
  • What’s the number of billable days in the first month?
  • What’s the number of days in the second month?
  • What’s the official start/end date of your tenant’s lease?

Tips for Prorating Rent

Your prorating policy should be in writing or your lease agreement

If it’s a leap year, divide your prorated calculation by 366 days if you plan on using the yearly formula.

It’s not your responsibility to prorate rent if your tenant signs a lease for the first of the month but moves in on a later date. Similarly, it’s not your responsibility to prorate rent if your tenant chooses to move out earlier, but their lease runs to the end of the month.

Offer a prorated rent calculator on your website. 

Find out if your state requires you to use the flat 30 method for prorating rent.

Bottom Line on Prorating Rent

Keep your tenants happy when calculating prorated rent

Prorating rent is easy to do and an easy way for a landlord to start or maintain a good relationship with their tenant. It makes tenants feel like they’re getting their money’s worth and like the landlord is on their side. 

Unless you have to use the flat 30 option, the monthly method of prorating rent is a landlord’s best bet because it’s easiest to explain to the tenant. 

And a happy tenant is the best bet for a happy landlord.

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Thinking about purchasing a rental property in Tacoma, WA? Learn how looking at the rental statistics, the demographics, and having a local property manager as a partner can ensure you are looking at real numbers when deciding if the area fits your investment strategy.

Before investing in an area, you will want to look at the demographics, home prices vs rental prices, forecasted economic growth, and other important statistics to see if it fits with your investment strategy to help you reach your goals. Will the area give you the cash flow or appreciation you are looking for?

About Tacoma, WA

Tacoma, WA, one of “America’s Most Livable Cities”, is a port city on the Puget Sound and is known for being one of the most walkable cities in the US. From its beautiful waterfront to its numerous city parks that include the country’s second largest city park (700 acres), the area has seen a 12% population growth since 2010.

Tacoma property management

Tacoma offers more affordable investment opportunities than the Seattle area which can be expensive.  Cash flow opportunities are better in Tacoma because the prices of homes are not as high.  

Home prices in Tacoma

Median home price: $354,019

Home prices have gone up 9% in the past year.


Diverse types of renters

Commuters – Many choose to work in Seattle but live in Tacoma because it is more affordable.  

Students - Several universities are in the area including the University of Washington’s Tacoma campus, so there are a lot of student renters.  

Military - McChord Air Force Base is South of Tacoma, so there are military families renting in the area as well.  

Between the port, universities, military presence, and proximity to Seattle, Tacoma is a great area for investors looking for an area whose economy is being fueled by a diverse mix of industries.


Economy and industry in the area

Tacoma is the 7th busiest container-handling port and attracts businesses in multiple industries. It is known for its high-tech industry that includes Intel and Expedia which are headquartered there. Agricultural and forest products are also large contributors to the local economy.

  • Unemployment rate: 5.3%
  • Average income: $75,649

Tacoma has seen steady job growth over the last 10 years and expects 39.9% in future growth. With its strong industry presence and growth record, it is a great place to invest in rental property for less than a home in a Seattle would cost.

If you are considering investing in Tacoma, contact us at Mynd. We can help you determine if this market fits your strategy to reach your goals. If it doesn’t, we have offices in 19 markets and can help you find an area that does.

How to accurately set rent for my Tacoma, WA rental property

The rental market is cyclical, so you want to make sure you set rent to match today’s prices. Just because you rented your property for a certain amount 3 years ago doesn’t mean it will rent for that amount today. The price could be higher or lower depending on what the market says is the going rate. To avoid extended vacancy time, you will want to accurately price the property, so you are getting the maximum return while also filling the vacancy quickly.

Tacoma rental statistics

  • Median rent for a single-family home: $1750
  • More single-family homes available since 2007
  • 45% Renter Occupied
  • 55% Owner Occupied

Steve Rozenberg, Head of Investor Education for Mynd, says he sees this as a good, steady mix of renter/owner occupied homes which makes it a great market to have a rental property. You should always be able to find a renter.

Knowing the trends and statistics for the area is key to your success as an investor.  Consider hiring a local Tacoma property manager like Mynd who can help you determine the correct rent rate.  Mynd has access to proprietary information so you are getting current, accurate numbers to base your decision on. If you want to know what you can expect to rent your home for, Mynd offers a FREE rental analysis.


Why should I hire a property management company in Tacoma, WA?

What does a Tacoma property management company do?

They take care of the day to day operations required when you own a rental property such as:

Do you have the time to manage the property? How valuable is your time to you? If you are managing it yourself, do you know that you are doing it correctly and following the laws?

Landlords must comply with ever-changing laws and regulations

Landlords must comply with Federal, state, and local laws that apply to rental properties. These laws are constantly changing, and as a landlord you are expected to keep up with them.  If you must evict a tenant, there may be new laws in place that limit how you can do that. If managing property isn’t your full-time job, you are more likely not up to speed on current laws such as:

  • 120 day notice to purchase property if you intend to change the use of the property
  • 60 day notice of no cause termination of a resident
  • 60 day notice of rent increase
  • Several tenant’s rights laws. For example, tenants can complain to the city of Tacoma about code enforcement violations.

There are a lot of laws that have to do with tenant’s rights, and you must be sure you comply. If you aren’t up on the laws, you may find yourself getting in trouble which can cost you $1000s in fines and court costs.


Consider hiring a Tacoma property manager

Our Tacoma property managers can help you make smart decisions and ensure your property is following the laws. Mynd has in-house counsel to help ensure your property is complying with the laws.  Contact us today at Mynd about property management in Tacoma or finding your next investment property in one of the19 markets we serve.

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As an investor, you want to know that investing in a rental property in Everett, WA aligns with your strategy and helps you achieve your goals. Identifying the right data and numbers to calculate your return is an important step in making an informed, smart decision.  Having a local partner like a property manager makes this process easier.

What kind of return do you want from your investment property?

Are you looking for monthly cash flow? Is the property you are looking at going to give you what you need to at least cover your expenses?  Are you only interested in appreciation or debt paydown?  Your strategy must be defined before you start looking for a property.  

About Everett, WA

Everette is a coastal city on the shores of Port Gardner Bay and is located 25 miles north of Seattle. It attracts families with its world class schools, over 30 city parks, and numerous outdoor sports, activities, and art experiences.

Everett population and home prices

  • Population: 111,000
  • Average age: 33
  • Median income: $57,999
  • Median home value: $362,000


The median income for the area is about average for the US, but the home prices are significantly higher than average. You might be able to make enough cash flow to cover your expenses, but you are more likely looking at making your money in appreciation.

Many of the homes in the area were built between 1970-2000.  Being older properties, they may require some maintenance or updates to attract a quality tenant and meet Property Code.


Everett Property Management


Industry and the Economy

  • Unemployment rate: 5.8%
  • Cost of living index: 116.2  (US average is 100)

Boeing’s 747, 767, 777, and 787 Dreamliner airplanes are constructed in the world’s largest building located in Everett, and they offer a popular tour of the facility. Everett’s proximity to Seattle is an advantage because it is going to be fed by the strong industry nearby.

Best neighborhoods in Everett

  • Darlington
  • Edgewater
  • Pinehurst
  • Riverside
  • Bayside
  • South Forest Park

When you buy a property in one of the more popular areas, you are probably going to see more appreciation. With an average age of 33, residents are likely families interested in the quality schools in the area.  They are also more likely looking homes with multiple bedrooms for their growing families.


Talk to an Everett, WA property manager about the local market and what trends they are seeing. They can answer questions like:

  • Is the city growing?
  • Are rents going up or down?
  • What is the average eviction rate?
  • What are the average days on market?
  • What is the average vacancy?
  • What type of homes are rented quickly? What are most people looking for?
  • Are there certain features people are looking for in a home?

These are the questions you want answered before purchasing a property, so you have the proper expectations. Contact us at Mynd for more information on the Everett area. They can tell you what types of properties are renting quickly, what renters are looking for, and more.

If Everett doesn’t fit your strategy, we can help you find a market that does. Mynd has offices in over 19 markets. Our local property managers can use Mynd’s proprietary data to help find you properties that match your strategy, whether you want to invest locally or diversify across several markets.


How to Accurately Set Rent for my Everett, WA Rental Property 

It is important to know what the market is dictating when setting rent for your Everett rental property. The goal is to get the right amount of rent while leasing it quickly, so pricing it right is critical.

Leasing has seasons

You might not be able to get the same amount of rent if you lease your property in the Winter (off season) vs the Spring/Summer months (peak season).

The economy can affect rent

If the industries in the area are in a downturn or upturn, that can influence the rent you can expect to receive.

Everett rental statistics

  • 42,000 housing units
  • 37% Owner Occupied
  • 67% Renter Occupied
  • 44% single family homes 36% Apartments
  • Median rent: 1,990
  • 48% of homes were built between 1970-1999

The rent amount will vary depending on the property type, square footage and number of bedrooms.  When comparing rents, look at properties that are the same as yours. Being that many of the homes are older, you may find you can get a little more money in rent by doing some updates to the property.

Mynd’s Everett Property Management company offers a FREE rental analysis so you can see what your property can expect to rent for.


Why Should I Hire a Property Management Company in Everett, WA 

When you own a rental property there are a lot of day to day operations to take care or not to mention all the ever-changing laws you must follow.  Should you continue to do this yourself or does it make sense to hire an Everett property management company?


Treat your investment like a business.

If you own multiple rental properties or plan to in the future, the tasks required increasingly take up more of your time.  Keeping up with all the laws you must comply with can become a heavy burden.  Maybe you got into investing because you wanted a safe, secure retirement investment or passive income, but you did not realize the amount of time that was involved in managing it yourself.  You thought you were gaining free time and ended up having a second job.

It is entirely possible that you will not end up where you hoped because you may not be doing something right. Not complying with a law could result in your ending up in court owing $1,000s in fines.  

Getting that great deal when you buy the property is only the first step in the process that leads to your success. Steve Rozenberg, Head of Investor Education for Mynd, thinks it is important to have a team to help you maximize your return.


What does an Everett property management company do?

They take care of the day to day operations required when you own a rental property such as:

They know the laws and regulations

You must follow Federal, state, and local Property Code that dictate how a property must be maintained. When it comes to fixing things in the property, who is responsible for them? The tenant or the landlord?  There are things you can’t ask on an application or during the screening process.

Landlords must comply with Federal, state, and local laws that apply to rental properties. These laws are constantly changing, and as a landlord you are expected to keep up with them.  If you have to evict a tenant, there may be new laws in place that limit if or how you can do that.

Maintenance issues

Mold can be a problem in the Everett area due to the amount of rain it gets. You will need to make sure the roof, ventilation, and plumbing is in good shape to prevent mold.  There are laws that protect the tenant to ensure they have a safe home to live in. Property managers know what you have to do to comply with any laws in regards to Property Codes.

If you don’t have the time or desire to keep up with the laws and regulations, it might be a smart decision to hire a knowledgeable property manager.  Mynd has local property managers that know the laws to ensure you are following them as well as in house legal counsel.

A good property manager helps you make smart decisions and ensures your property is following the laws. Contact us today at Mynd about property management in Everett or for help in finding your next investment property in one of the 19 markets we serve.

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Residential real estate properties in Atlanta, GA, great for investing!

Why Invest in Atlanta Real Estate?

Boasting both a robust GDP and the world’s busiest airport—Hartsfield-Jackson Atlanta International—Atlanta is a major player when it comes to U.S. economies. Named as one of the U.S.’s top 10 economies by city, this deep South metropolis is also home to major corporate conglomerates, including: Coca Cola, Turner Broadcasting, Home Depot, and Delta Airlines.

Other factors combine to make Atlanta a Georgia city ripe for investing. Its sprawling metro includes assets in suburban locations with immediate cash flow; the city also features neighborhoods with relatively easy access to major thoroughfares and school districts (these typically meet the criteria of buyers seeking immediate returns). Investors with a longer time horizon can acquire urban core properties that tend to appreciate even more quickly.

Atlanta is home to the busiest and #1 ranked airport in the world, four Global Fortune 500 companies and 14 Fortune 500 companies. The metro has the lowest costs of transportation for services and manufacturing sectors out of the largest U.S. metros, strengthening distribution in the area. There is a projection of 1.5 million new jobs to be created by 2040. Atlanta-based Invesco will add 500 new jobs to the city when it completes its $70 million expansion in Midtown in 2022.

Atlanta is predicted to add 2.9 million residents by 2050, pushing the population to 8.6 million. As the metro keeps up with this population growth, the city is constructing a 22-mile long Beltline Transit Loop. The first phase, at the Westside Pavilion Park, was completed in 2019, with the entire project’s expected completion in 2022. The city is said to net $10–$15 billion dollars for the project.

Atlanta Real Estate Market Highlights

  • Expected to have 1.5 million job openings by 2040
  • Regional population will increase 25% by 2030, gaining 1.4 million residents
  • A $10–$15 billion in economic growth from the 22-mile Atlanta Beltline Transit Loop (completion in 2022)
  • 14 companies ranked in the 2018 Fortune 500; 4 in the Global Fortune 500
  • Ranked #13 in Forbes’ Best Places for Business and Careers
  • #6 best college city among cities with more than 300,000 people (WalletHub)
  • Lowest cost of doing business out of all primary U.S. metros – 18% lower corporate tax burden
  • Home to the NFL Atlanta Falcons $1.5-billion Mercedes-Benz Stadium

Northwest Atlanta Real Estate Market Highlights

Cobb County, containing Marietta City, is the ninth best school district in Atlanta. However, the northwest is known more for activities such as sports, camping, and whitewater rafting. With the Mercedes-Benz Stadium and Georgia Tech, investing in the northwest remains promising.

  • Mercedes-Benz Stadium, home to the NFL’s Atlanta Falcons
  • Georgia Institute of Technology - public research university, ranked #5 best public university and #4 most innovative school by U.S. News & World Report
  • College Football Hall of Fame - 1 mile from Mercedes-Benz Stadium
  • Georgia Aquarium - one of the world’s largest aquariums, located in downtown Atlanta
  • Atlanta Memorial Park - playgrounds, golf, and tennis
  • Six Flags Over Georgia
  • Six Flags White Water
  • State Farm Arena - home to the NBA’s Atlanta Hawks and a popular downtown concert venue
  • SunTrust Park, home to the MLB’s Atlanta Braves

Northeast Atlanta Real Estate Market Highlights

The northeast has fantastic schools and great entertainment. According to Niche, the top 3 best school districts are in the northeast. Ranked in the #1 and #2 spots, are Buford City and Forsyth County, respectively.. Both of these districts lie outside the 285 perimeter. The third best school district is within the 285 perimeter. However, living in Decatur City is also more expensive than both Buford and Forsyth because it’s closer to downtown Atlanta. A popular place to invest is in Gwinnet County, which falls 10th on the list of best school districts in Atlanta.

  • Emory University - ranked 21st in National Universities
  • Georgia State University - D1 research school in downtown
  • Fox Theatre - performance arts center located in downtown
  • Ameris Bank Amphitheatre - events and concerts, located in Alpharetta
  • Atlanta Botanical Garden - in the heart of midtown on 30 acres
  • Stone Mountain Park - scenic park 20 miles from downtown, includes golf and lodging
  • Mall of Georgia
  • Lenox Square

Southwest Atlanta Real Estate Market Highlights

The southwest is home to the 4th best school district in Atlanta: Fayette County. Aside from the school district, the southwest is home to Atlanta’s airport: Atlanta International Airport is the busiest airport in the world.

  • Turner Field - home to Georgia State University’s football team
  • Cellairis Amphitheater at Lakewood - concert venue located 5 miles from downtown

Southeast Atlanta Real Estate Market Highlights

The southeast has hot properties downtown, such as Reynolds town, Grant Park, and West End. But more importantly, Clayton County is located in the southeast. Clayton County is ranked 1st in single-family rental returns in 2017.

  • Zoo Atlanta - 1,000+ animals, downtown Atlanta
  • Clayton County International Park - 200 acres for swimming, fishing, biking off of the I-75
  • Southlake Mall in Morrow
  • Atlanta Motor Speedway - NASCAR and local racing, 25 miles south of downtown Atlanta
  • Georgia State University
  • Clayton State University
  • Georgia International Horse Park

For more information, refer to our Knowledge Center and visit our Atlanta, GA Property Management page for local landlord tips and information. Our team has vast knowledge and experience in local Atlanta property management and can help you to have a better investment experience. We educate on topics in the area ranging from landlord tips, repairs and maintenance, leasing, how to choose the best property management company, and investor advice!

We look forward to furthering your rental property education.

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The topic today is professional Atlanta property management and whether it’s really necessary.If you’re an investor and you own property in the Atlanta area, there are a few benefits to working with a professional property management company. Let’s take a look at some of the value you can get from a good manager, and why it makes sense.

Atlanta’s Rental Market Covers a lot of Ground

Atlanta investors can benefit from property management for the same reasons that investors all over the world can benefit: you save a lot of time, and you don’t have to worry about things like resident complaints and emergency maintenance issues in the middle of the night.A benefit that’s unique to Atlanta is that this market covers a lot of green space. The metro Atlanta area is huge and includes a lot of different neighborhoods that stretch across a geographically large city. Investors have a lot of opportunities in suburban Atlanta, but getting from one property to another will take a lot of legwork. When you have a property that needs attention, it’s not as easy as jumping in the car and getting there to do some maintenance. It’s going to take some time to get there and you may have to plan on spending the whole day at your investment property. Many Atlanta neighborhoods are more than an hour from the city.

Atlanta Investors and Time Value

Your Atlanta rental property also requires a lot of attention. We talk to a lot of investors who start off trying to manage on their own. They believe it will save them money to do all the leasing and maintenance and management and accounting on their own.It doesn’t take long before they realize that they don’t know how to handle effective vendor relationships. They don’t know what various legal statements and notices mean. They’re not sure how to evict a resident who isn’t paying rent.Managing your own rental home is a tedious process. It’s so much easier to pay a small percentage of your rental income to a professional property manager in Atlanta and let the expert do the work and do it well.It’s common for real estate investors not to think about the value of their time. But, you should be thinking about how this impacts your overall ROI and personal wealth. Is it really worth your time to drive to different parts of Atlanta to show a property or talk to a resident or supervise a repair?

Legal Mistakes are Easy to Make

Another benefit to professional Atlanta property management is that you don’t have to worry about legal risk and liability. There are a lot of laws that govern what landlords need to do when renting out a home, and these laws are frequently updated. Different cities and regions have different laws. What you do when you’re managing your property in Florida is much different from what you need to do with your Atlanta rental property.Unless you are willing to commit the time and resources required to become completely educated in landlord and tenant law, you’re taking on a lot of risk.At some point, you’re going to run out of hours in the day. It’s hard to be effective when you’re scrambling to meet the needs of your property and your residents while staying up to date on the law and the rental market trends in Atlanta.

Property Management Atlanta: Accounting and Maintenance

In addition to leasing and managing a rental property, there’s also maintenance and accounting to consider. These are not easy things to fit into your schedule, and it’s hard to do everything properly. Something will eventually have to drop off.Many investment owners are making residual income from their rental properties. Maybe you have a full-time career of your own. Investment real estate should advance your life and not suck the joy out of it. But that’s exactly what can happen when you’re trying to remember the different ways that utilities are set up in College Park versus East Point.Managing your own property requires you to jump through a lot of hoops just to get the simplest thing accomplished. You don’t have to do everything yourself. If you’re like the average investor, you have a job and a family. You didn’t get into real estate investing to take on a second or third job. But, that’s often what happens when investors try to manage on their own.Owning a rental property doesn’t mean running the rental property. When you have money tied up in a piece of Atlanta real estate, the best thing you can do to help it earn you more money is to have professionals take care of it. Don’t take chances. You don’t want to break a property code law because you didn’t know something or you were too busy to get to a repair in time.The value of professional property management is in protecting your asset.If you’d like to learn more about Atlanta property management, please contact us at Mynd Property Management. We are here to help you protect your real estate assets and to ensure you have a better and less stressful investment experience.We also have other opportunities to connect with us and learn more about investing in Atlanta. You can also visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners. Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures. There’s a lot to learn from this relatable content.

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If you’re an Atlanta real estate investor, you might want to know why other investors fail. It’s a good way to avoid making the same mistakes.

Atlanta Investment Mistakes: Not Maintaining or Upgrading

Not making the needed upgrades on rental properties is one way that investors fail in Atlanta. This means more than just preventative maintenance. You have to take care of larger items and address repairs as well as upgrades. You don’t necessarily have to do a complete rehab, but maybe a small rehab is necessary. Perhaps replacing appliances is necessary. A new paint color might be required.

You need to bring your product into a competitive market. Many properties in Atlanta are being renovated and getting a lot of upgrades. If you’re not keeping up, you’re going to have a hard time succeeding. When everyone else is putting granite counters in their kitchens and you’re not, there will be a problem achieving good rents and attracting quality residents.

Maintaining your home includes adding value to it. A new mailbox isn’t going to add much value. But, changing your dated appliances to new black appliances might bring you $50 more per month in rent. You can also replace your ceiling fans from 1980 with new fans that have remotes. These are the things that keep residents in place and ensure your home is always leased. Be competitive, or you’ll run into vacancy and turnover. As you know, those are expensive.

Atlanta Investment Mistakes: Incorrect Pricing

A lot of investors make mistakes when they’re attaching a rental value to their property. Each area of Atlanta performs at a different level. Sometimes, investors want to attach a rent that isn’t attainable for their location. You might think that the average rental price in Atlanta is one thing, but that doesn’t mean your specific property can get that much. Pay attention to your location because that’s going to drive your rental value more than the general market rents in Atlanta. This is an excellent reason to work with an Atlanta property management company. If your rental property is vacant for a long time, it’s probably not priced correctly. We’re experts on this market, and we can look at competing properties and tell you what your rent should be.

You may think you need $1,500 in monthly rent because that’s your mortgage payment. But, if the property is only going to bring in $1,300 per month, you want to follow what the market dictates. Otherwise, you make emotional decisions during a long vacancy period. Those are never good. They are reactionary and can get you in trouble. When your house has been vacant for three or six months, it puts you in a bad position.

Get a professional to tell you what the market dictates. And, remember that the real estate market is cyclical. Rents are higher in the summer. In the winter, not a lot of people are moving. If your property is vacant in the winter, it might stay vacant for longer or you’ll have to lower your rent expectations.

Sometimes, investors get frustrated and want to change management companies. If one property manager doesn’t agree that your house can get $1,500, you might want to keep moving on until you find one who tells you what you want to hear. It’s going to take a lot of time, money, and energy to look for a property management company that agrees you can get a rent that you actually won’t get. They aren’t doing you a service.

Atlanta Investment Mistakes Incorrect Pricing

Atlanta Investment Mistakes: Placing the Wrong Resident

The third reason investors fail is their screening and resident placement process. Sometimes, investors are on one end, where they don’t want to bother with any kind of background check. They don’t care about credit. If the prospective applicant has a job and the cash to move in, they’ll accept them.

On the other end of the spectrum are the investors who have very high standards. They want a 700 credit score and income that’s at least four times the monthly rent. Both of these types of investors make selecting a good resident very difficult.

You need to consider the location of your investment property. If you have multiple rental homes throughout the city of Atlanta, your requirements may change from property to property. You need a set of standard criteria, but each market will drive the screening results. Incomes in one part of the city will be much different than incomes in another part of the city.

Criteria that’s too strict leads to vacancy while criteria that’s too loose leads to vacancy.

Avoiding fair housing issues is important. You can have different criteria for properties in different parts of town, but you have to screen every applicant for a particular property in the same way.

Stay away from these common investment mistakes. If you want to succeed as an Atlanta real estate investor, make sure you’re paying attention to maintenance and upgrades. Price your property correctly with the help of a local Atlanta property management company. And, be reasonable with your resident selection criteria.

If you want some help avoiding these investment mistakes, contact us at Mynd Property Management in Atlanta. We’d love to tell you more about how to succeed in this market.

We also have other opportunities to connect with us and learn more about investing in Atlanta. You can also visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners. Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures. There’s a lot to learn from this relatable content.

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