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Welcome to Central Georgia Realty

Central Georgia Realty is a full-service real estate brokerage and property management firm headquartered in Senoia, GA and serving all of South and North Atlanta. Currently managing over 200 residential properties for individuals, small investors, and institutional investors, we are experts in this part of the state in the property management business. We also offer management services for smaller multi-family properties, up to 30 units.

In addition to property management services, Central Georgia Realty also offers real estate sales. Whether you're a home owner looking to sell your home, an investor looking for great investment opportunities, or a buyer looking for your dream home, we can help you reach your goals.

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Property Management Blog

Reviewing the lease with the tenant

Todd Ortscheid - Thursday, September 25, 2014

One of the most important things that can be done to ensure compliance with the lease is to review it in detail with the tenant(s). It's hard to believe for many property owners, but most tenants will just sign the lease without bothering to read any of it. For those who do read it, they usually just skim the"highlights" like the monthly rent, the late fee, and scheduled rent increases. The rest of the document gets completely skipped. It's the rare tenant who actually does any due diligence in reading over the entire document and knowing what their legal obligations are.

While you may think that this isn't a big deal, since they're still responsible for whatever they sign, whether they read it or not, we find that compliance with the lease is a lot higher if the tenant knows up front what their obligations are. If they find out after the fact, after they've already incurred penalties, then they're more likely to not pay and create hassles.

In order to avoid this problem, all of our agents review the lease with the tenant in detail prior to the tenant signing and moving in to the house. We go paragraph by paragraph and explain all of the details about late rent, eviction, their responsibilities for maintenance and repairs, etc.

By doing this up front, the tenant is far more likely to comply with what the lease requires, leading to fewer headaches for the landlord and less likelihood of having to deal with it in court.

Give us a call and let us take care of all of this for you! We'll have a qualified tenant in your property in short order and take care of full management for you for a reasonable price.

Who pays the sales commission?

Todd Ortscheid - Friday, September 19, 2014

Just about every brokerage includes a clause in their property management agreement that deals with a situation where the owner sells the property to the tenant. While this happens only rarely, owners are usually interested in how this would work, and it's a common question we get about the management agreement.

Your agreement with us to manage your property does not lock you in to having us sell your property. We are a full service real estate brokerage, and we can definitely sell your property for you, but we don't lock you in to using us. Many owners have a friend who does real estate sales, and they would prefer to use their friend if they decide to sell. We don't have anything in our management agreement to prevent this. However, we would note that we give our property management clients a discount on our sales commission, so you're probably better off using us.

But, a different situation comes up when you don't have your house listed for sale, but the tenant that we found and has been renting your house for a while decides that he wants to make an offer to purchase it. How does it work when your house isn't listed for sale but you enter into a sales transaction with the tenant?

Like the other brokerages, our management agreement does include a clause to address this in case it happens. Our typical commission in this situation is 5%, which is reduced from the more common industry commission of 6%. However, if the tenant doesn't have their own real estate agent representing them, then we don't have to share the commission with another broker, and we'll usually discount your commission even further to only 3%.

The common question we get is about why the commission is lower if the tenant doesn't have their own agent representing them. The way real estate commissions work, the seller of the property pays the commission for the sale. The buyer, even if they have their own agent, never pays a commission to their agent. Their agent's commission comes out of the commission that the seller pays. So, if there are two brokers involved (one for the seller, and one for the buyer), two brokers have to get paid out of the commission that you pay. Essentially, they split the amount received, so your broker gets half, and the buyer's broker gets half.

So, if we're representing you and the tenant doesn't get their own agent, we don't have to pay another broker out of our commission. Most brokers would still charge you the full commission and keep it all for themselves. We don't. We pass that savings on to you. So instead of paying the full 6% that most brokers would charge you, we discount it to 3%.

This is just one of the many ways that we put our clients first. We believe strongly that our business grows because we treat our clients right. Instead of wringing every penny we can out of our clients, we treat them fairly, and then they'll talk to their friends and we'll get more business. We may make a little less money from each client, but we make up for it by our business growing from word of mouth when a satisfied client tells his friends.

If that sounds like the kind of brokerage you'd like to work with, give us a call and we'll get your house rented to a quality tenant and take care of full management for you.

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Central Georgia Realty
42 Main Street Suite 2B
Senoia, GA 30276

(678) 648-1244

Central Georgia Realty, LLC, Property Management, Senoia, GA

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