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Atlanta is a Paradise for Renters

By on May 16

There’s good news for those looking to rent a home or apartment in Atlanta! Due to many factors playing in over the past few years, Atlanta is now a haven for those looking to rent a home. In fact, 2010 saw nearly 67,000 properties available to rent in the Atlanta real estate market. In a recent Atlanta Journal-Constitution article, “

Renters Now Rule in Metro Atlanta,” the recent influx of rental homes, apartments and properties into the local real estate market and benefits for those in the market are explained.

Since 2000, Atlanta has experienced a rapid period of growth, quickly building new houses and apartments. However, when the recession hit, the market was turned upside down leaving many to pick another strategy of homeownership.

People were forced out of their homes due to a decrease in income, unemployment and foreclosure. With jobs disappearing, people looking to invest in or upgrade to a new home .. away from the market, and owners were suddenly unable to afford even their current homes. All in all, apartments and properties available for rent opened up.

With a huge increase in available rental properties, original landlords are now seeing more competition. The apartment market, for example, has seen prices drop as much as 20 percent from 2008 and midway through 2010. As one Atlanta landlord said, people in the market weren’t even willing to pay the amount it took him to break even due to the enormous amount of equal homes selling at a lesser price.

Here’s the really good news: In addition to lower, more competitive pricing, apartment communities have to please their customers more. Like any business weathering tough economic times, they have to streamline their expenses and are more heavily relying on good customer service and loyalty to keep them afloat. Apartment communities have been seen offering up to three months’ worth of free rent as incentive.

With thousands of luxury apartments available in this metropolitan city with great incentives, it’s time to consider looking at the Atlanta market for your next apartment!

Categories : General Info, News

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