Rentcafe, crunched the numbers and Atlanta lands, with an honorable 8th spot – with a forecasted rent growth of 6.4%. Take a look at their infographic below.
With homeownership rates at historically low levels coupled with a strong consumer demand for Atlanta rental homes, both from people priced out of the housing market as well as the new generation of quality tenants, such as millennials and executives, who find renting better suits their lifestyle- has set rental prices on an upward climb.
What does this mean for Atlanta Landlords?
Atlanta Rental Property Managers are warning landlords to be realistic about pricing, pricing the home out of the market may extend your vacancy time. Do the research when establishing market rent. An expert in rental property management can provide rental evaluation and discuss the rental market in your area.
Finding a tenant will be easy in Atlanta. GA. Finding a quality tenant requires skill and process. Managing a quality tenant as well as streamlining processes with online rental payments, online maintenance requests and quarterly inspections will help ensure your rental investment continues to benefit from the market projections.
If you are a landlord by default and still recovering from lowered house values of the Real Estate crash, you may find that the net rental yield is less than the cost of your mortgage. If you still have a shortfall, think long term, like your 401k. If you have bought a home in a good area, you would expect rental income to creep up over time plus you should experience some capital growth as well.
In my next post, I will discuss the financial benefits of property management inspections. As well as things to watch out for when selecting rental properties to invest in. If you’re a first-time or seasoned investor, comment to let me know if I’m missing anything, or what things you look for when selecting rental properties to invest in. To find out more about Atlanta Property Management, contact Platinum Property Management Call us today 678-710-8056 for your free Atlanta Rental Home evaluation.