Are you looking forward to getting into a rewarding career in real estate and property management? The housing market in Georgia continues to boom, and there will be a high demand for property managers in Georgia. You just need to take the most out of this opportunity and get started as a property manager. This comprehensive guide will help you learn how to kick off your career as a successful property manager in Georgia.
How to Become a Property Manager in Georgia: The Essential Requirements
Becoming a property manager in Georgia entails meeting several key requirements. While no single license specifically applies to just property managers, aspiring professionals should be prepared in these 6 essential areas before launching their career:
Real Estate License
While not legally mandatory, obtaining a real estate license is a must. It allows you to collect rent payments, show units, negotiate and sign leases, market available properties, and operate with the legal understanding of a licensed real estate agent on matters like fair housing laws. You can get licensed by taking approved pre-licensing education, passing the state exam, and completing other licensing steps.
Local Permitting
Most Georgia cities and counties require manager/landlord permits to legally operate short and long-term rental properties. Acquiring relevant local permits and registrations will make sure you comply with laws on safety inspections, taxes, occupancy limits, and more based on the locations of rentals you manage.
Tenant Vetting and Screening Training
Learn how to professionally screen applicant tenants through credit checks, reference calls, background checks, and determining debt-to-income qualifications. Properly vetting tenants using appropriate practices can make or break profitability.
Maintenance Coordination Skills
Property management maintenance, such as unit repairs, landscaping, cleanings, emergency response resource connections, and preventative upkeep, is a big responsibility. Develop skills like identifying maintenance needs, hiring specialists vs. DIY handling minor issues, maintaining maintenance budgets, and payment processing.
Insurance Knowledge
Managers must understand property insurance minimums in Georgia, what coverage rentals should carry, and how to file claims for damages. Umbrella insurance for your management activity itself is also essential.
Core Business Administration Skills
Similar with marketing rentals, collecting payments and rents, keeping financial records, understanding Georgia landlord-tenant laws, and establishing your company’s structure, brand, processes, and software platforms.
Understanding the Real Estate Market in Georgia: Tips for New Property Managers
As a new property manager in Georgia, one key to thriving in this competitive field is understanding and keeping up with our state’s dynamic real estate environment. The Peach State real estate market has seen major home price and rental rate increases, population shifts to certain metro areas, and rising demand across rental categories from single-family homes to luxury apartments. Here are useful tips for navigating Georgia’s real estate landscape as a beginner manager:
Focus on the Developing Areas
Focus on Atlanta, Savannah, and other rapidly growing Georgia metros, which are seeing massive rental demand increases as populations swell with newcomers and developers rush to build more units. Manage properties where most of the state’s renter demand exists.
Join the state and Georgia metro area landlord and property manager associations for insider real estate insights and for networking opportunities to generate new property management clients.
As an emerging property manager, staying closely tuned into Georgia’s real estate and rental market trends will give you an edge in acquiring and retaining rental management business in this growing sector.
Understand What Properties are in Demand
Emphasize single-family rentals in your services – private investment firms and everyday investors are pouring money into turning Georgia family homes into landlord-owned rental properties due to profitability, so identify these clients.
Recognize the impacts colleges and universities have on surrounding rental markets in Athens, Columbus, Macon, Statesboro, and many other Georgia college towns – student tenants are a reliable rental market.
Be Mindful of How to Win Tenants
Set rental rates just under market averages. This will quickly entice tenant leads for your clients while saving them unnecessary vacancies from overpricing units. Monitor Georgia rent price reports regularly to set optimal asking rents.
Pay attention to which amenities and smart-home features today’s Georgia renters prefer most, like stainless steel appliances, in-unit washers and dryers, connected home devices, fitness centers, if in larger developments, etc. Update your managed properties accordingly.
Top Resources and Training Programs for Aspiring Property Managers in Georgia
Successfully launching a property management career in Georgia means tapping into the wealth of specialized resources and training programs available regionally for this industry. Once you learn how to become a property manager in Georgia, gaining hands-on experience in real estate can help you build a successful career in property management. From credentialing courses to landlord advocate groups, use these top Georgia-based resources:
Georgia Real Estate Academy
This state-approved academy offers premier pre-licensing programs both online and in several locations to secure your real estate license, the gateway credential for property managers.
Atlanta Property Management Training Seminars
Providing beginner to advanced education on property analysis, maintenance, marketing, tenant relations, and more, these specialized Atlanta seminars offer intensive training opportunities.
Savannah Property Managers Association (SPMA)
Connect with and learn from seasoned property managers through this nonprofit trade association with membership options for veterans in the field as well as new market entrants.
Athens Landlord Association
This valued resource publishes in-depth reports on rental occupancy rates, pricing analyses, and other market intel relevant to the University of Georgia area that managers can leverage.
Georgia Institute of Real Estate
This private school, with a laser focus on property management training from its Atlanta headquarters, offers both on-campus and online certificate programs.
Positive Property Owners (PPO)
This property investor and landlord forum, based out of Augusta, hosts frequent meetups plus an extensive video library with training webinars on property analysis, law, and management best practices.
If you already own a property, you need to hire a property manager who has appropriate credentials. By hiring property management in Atlanta, you can rest assured that your investment will be protected and efficiently managed.
Final Words
Gaining competence and credentials in these 6 fundamental areas forms the bedrock for succeeding in Georgia property management. Aspiring managers who invest effort into developing expertise in these facets will stand out to potential clients and be prepared to excel in this in-demand field.
