As local property managers, we have an excellent idea of how the Atlanta, GA rental property market is performing. In 2015, we’re happy to report that it’s a strong market, and it shows no signs of slowing down at any point in the near future. Even within submarkets that exist in different parts of Atlanta, it’s one of the strongest environments for landlords we have seen in a long time.
Rental rates have been increasing recently and they seem to be maintaining their higher averages. This is good news for landlords who are now able to charge a little bit more for their properties. Tenants are willing to pay prices that are a bit higher for well maintained homes in good locations.
The market also feels more stable in 2015, and one of the contributing factors is the amount of lease renewals. In the past, tenants would stay in a property for a year and then move on, especially if they found they were struggling to afford the rent. The economy has improved and tenants are renewing leases with confidence. That’s great news for the Atlanta rental market.
Another bright spot is that new tenants coming into the rental market have good credit and income to qualify them for properties. Previously, we’d lose the best tenants to home ownership. However, well-qualified tenants are back in the rental market and they are desirable renters. This means landlords can be highly selective when choosing tenants and applications can be measured against good criteria.
Supply and Demand
There is not a lot of new construction going on in the Atlanta real estate market for renters. That’s good news because it won’t increase the supply, and we can continue to keep rents on the higher end while finding good tenants to fill the already existing properties.
With the Atlanta rental market looking so strong, it’s a great time to invest. Contact DKRentals.net if you have any questions about the opportunities in Atlanta for rental housing.