Not a lot but we are starting to see an uptick in rental rates. $25 to $50 a month in many cases. We’re also seeing a dichotomy in tenants.
With lenders making it very hard to get a loan we are seeing tenants with strong careers and great salaries unable to obtain a mortgage. These families make fantastic tenants. They pay their rent on time and they treat your home as if it were their own. The trend for these ten
ants are typically 4 or more bedrooms and they want to be ion our good school districts.
On the other hand we see a large number of tenants applying with less than stellar credit due to bankruptcy, foreclosures, and short sales. Not surprising given Atlanta high unemployment rates. They may prove to be perfectly good tenant who never miss a payment and take terrific care of the home but they are a risk. Our solution – a second months security deposit or having them obtain rental payment insurance. See http://www.aonrentprotect.com/ for an example
Investors listen up… There are a lot of great buys in the northwest altanta market but prices are moving up quickly – we have institutional investors looking to buy 200+ homes a month in our areas. . If they’re buying maybe you should consider it also. Maybe now is a good time to add to your portfolio or buying your first rental. Remember, the best deals are not always the best investment. Pay attention to where you are picking up properties. Northwest Atlanta Property Management is aligned with Keller Williams (the number one company in Atlanta) and is happy to point you in the right direction and can see you through from contract-to-closing-to-tenant. We can be reached at 678-232-0927