Most property management firms will have prepared an operating budget for the current year, and later in the calendar year, next year’s operating budget. This budget will factor in any upcoming maintenance and needed repairs to the real estate. Always ask for the current year’s operating budget and, if they have it, next year’s budget as well. This will alert you to any expenditures planned for repairs, replacements, maintenance issues, code compliance issues, upgrades, refurbishment plans, and tenant improvement projects coming up. Unbeknownst to these property investors, Atlanta real estate brokers can assist with interventions because of the reason short to follow.
Some managers are reluctant to hand it over and may give some excuse for not being able to. If they say they can’t, ask if there is anything that the ownership is trying to hide from you. Tell them it is important for you to review it. There is much to be learned from it and tells you a lot about what’s happening with the building.
Property Tax Appeals
In many states the land taxation process allows for an appeal if the property’s owner believes the tax assessment to be excessive or unfair. Since property taxes are such a large part of the operating expenses, it makes perfect sense to challenge the tax assessor’s property tax bill so that you know you are getting the lowest possible assessment allowed. This can be done primarily through third party tax consultants or even Atlanta real estate broker ages who specialize in assisting individuals with property tax appeals.
These realtors have the local expertise in property values and processes in getting your tax bill reduced. This is generally done on a percentage of the savings or negotiated fee basis. All in all, it’s a worthwhile fee paid to save a good chunk of money. It’s too important to overlook, although some property owners do.
