Choose a Location

When looking for a home to rent in Atlanta, you have a few options when it comes to location. First, you must decide if you want to live ITP or OTP. If you aren’t familiar with the lingo, you will be soon, but essentially, it means “inside the perimeter” or “outside the perimeter,” with the perimeter being Interstate 285 that circles the city. Homes ITP tend to be more urban, while those OTP offer suburban-style living.

Find the Right Neighborhood

Once you have picked a general area, it’s time to settle on a neighborhood. You want to find something that fits your style, offers the type of housing you are looking for, and is within a reasonable distance of your place of employment. For example, if you love a night out on the town, you may want to focus your search on homes in Buckhead, Atlanta’s uptown district known for its restaurants, clubs, and shopping. If you work in Midtown and want to live nearby, you might consider a neighborhood like Druid Hills or Virginia Highland.

Search Often

Atlanta is a busy city, which means people are always coming and going. Just because you can’t find a place in the neighborhood of your dreams one day doesn’t mean it won’t be there the next. Use as many resources as possible, and check each one daily. Once you do find something, inquire about it quickly, because there are probably several other people out there searching, too.

Many parents look to rent a home near one of Atlanta’s fine schools, like Sarah Smith Elementary.

Know What You Want

If you have a pet, make sure you are only searching for pet-friendly rentals. If you don’t have furniture, make sure you are only searching for furnished homes. Maybe you have kids, and you are looking to rent a home near one of Atlanta’s fine schools like Morris Brandon Elementary or Sarah Smith Elementary.  Make a list of your must-haves and keep it handy.

Consult an Expert

If you have trouble finding a place on your own, consider getting help from a top firm like Your Atlanta Rentals. Call 866-331-6626 to find out how they can help you find your Atlanta dream home today.

The post Finding Homes to Rent in Atlanta appeared first on Boundless Management.

Real Estate Market

While the real estate market is on its way up from what it was when it hit bottom in 2012, it’s not quite back to where it was when it peaked in 2006. According to RealtyTrac, many homes were still selling at about 20 percent below their peak prices in March 2014. The number is predicted to rise in the years to come, but putting your home on the market now means missing out on what could be a great deal of profit. Renting it, at least until you are confident you can get your ideal asking price, is good for your bank account.

Tax Deductions

People who rent out their homes gain the ability to write a number of the related expenses off come tax time. These expenses include mortgage interest, property taxes, some money used for improvements, insurance, unpaid utilities, and expenses that occur when you travel back to the city where your rental home is located to do any work related to the property.

Extra Income

In many cases, rental income means extra income for the homeowner, especially if the house is paid for. Even if it is not, the rental income may take care of your monthly mortgage payment and often leaves you with a little extra cash or money that can be used to pay off the mortgage sooner than you originally planned to. It can also help you build equity.

If you are a homeowner in the Atlanta area who is considering renting out your home, give Your Atlanta Rentals a call at 866-331-6626.

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Marietta, Georgia

Consider the Costs

Before making the decision to rent your home, you need to do a little math to figure out if it is worth the investment. Do you still have a mortgage on the house? Marietta is known for its low property taxes, but are they low enough to factor into the rent? Utilities, repairs, landscaping, and maintenance costs should also be considered. Finally, search for rental homes in your area and find out if you can offer a competitive price.

Advertise the Property

Once the house is ready and a price is set, start advertising for potential renters. Place a sign in the yard, and take to the Internet. Websites like Craigslist are excellent for advertising and usually free to use. You can also rely on local newspapers like the Atlanta Journal-Constitution or the Marietta Daily Journal.

Find a Property Management Company

If you are having trouble finding potential tenants or setting the rent or you just don’t have time to deal with it all, it is generally easier to work with a reputable property management company. It can often save you time and money. From beginning to end, your property management company will handle things like evictions, rent collection, putting together a lease, and making arrangements for repairs. The company should also be familiar with all Georgia state and Cobb County local laws regarding rental properties.

Find the Right Tenant

Finding a tenant on your own can prove to be quite the difficult task. You need to be fair – it’s the law – but you also need to be smart. Background checks, credit checks, and rental history are all important factors to consider. If you choose to work with a property management company, it can handle this step for you. The company generally has experience looking into a potential tenant’s background and probably has a better idea as to where to locate information than the average person.

Call 866-331-6626 to get started.

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Old Fourth Ward

Back in 2013, Kasim Reed, the mayor of Atlanta, declared that Old Fourth Ward would be a place of opportunity for businesses. He followed up by allotting various incentives and tax credits to businesses that wanted to setup shop in this district. Fast forward a year later, and countless businesses have setup shop, including Sister Louisa’s Church of the Ping Pong Emporium and the Sound Table – bars that have gained national interest in recent years. Numerous other businesses and commerce have settled down in this growing neighborhood, too. The Ponce City Market is set to host its ribbon-cutting this year, and will feature a 2 million square foot shopping center. Over $180 million was invested into this project, which will feature everything from a residential living area, to shops, restaurants and even a preschool. The area will be a hot seat for rentals in Atlanta by the end of the year.

Westside

The story behind this eloquent yet historical section is rich. A massive undertaking has been encumbered to revamp this entire area. Each building has been completely remodeled. Newer and modish, modern apartments, lofts, townhomes, retail centers, bars, restaurants, lounges and much more now populate its cobblestone streets. A nearby popular nightlife attraction, Terminal West, offers a 7,000 square foot live music event hub. Hip places to consider seeking Atlanta rentals include: White Provisions (luxury condos and retail space), 935M and Giant Lofts. The I-75 is just around the corner, making this a convenient area for commuters to live in a cozy suburb with real grit and history.

Ormewood

A stroll down historical Ormewood Avenue would tell you that it’s nothing like what it was in the 1920s, when bungalows made from brick and tract housing were built to accommodate returning soldiers from WWI. Today, gorgeous and artistically designed homes populate this area, surrounded by the cloaking shade of tall oaks and gorgeous everglades of the nearby park that sits on the Atlanta Beltline. Homes here start in the low $200s with some homes surpassing the high $700s. A number of nearby schools, businesses and nightlife attractions make this suburb a hot prospect for those seeking rentals in Atlanta.

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Property management need not be a gamble all of the time. Landlords already have a lot of things to worry about these days with tenants. For example, the qualifications and creditworthiness of said tenants can often dictate who pays on time and who gets an eviction notice. The reliability of tenants to pay on time is another common worry. Then there are the underlying factors, like how neighborly are your tenants and are they friendly or a nuisance to those who live nearby them?

These are but a few of the many concerns that landlords have to worry about when trying to get a good night’s sleep. After all, that rent check arriving in a timely manner is what ultimately pays your bills. So when it comes to allowing pets in your rental, it is important to question the associated pros and cons appropriately.

Pros of Allowing Pets In Your Rental

• A number of pros exist when considering allowing pets in your rental
• You can limit the size of the pets to reduce any potential damage
• You can increase rent on a per pet basis.
• You can attract a larger demographic of tenants
• You can restrict certain breeds to reduce risk
• You can mandate nonrefundable deposits
• You can charge more for rent with each added pet

Cons of Allowing Pets in Your Rentals

• Along with the pros there are also some caveats, or cons, associated with allowing pets in your rentals
• Pets can cause thousands of dollars of damages
• Pets can increase your liability risk from bites
• Pet owners are sometimes not good about cleaning up after their pets
• Pet odors can be very difficult to get rid of
• New carpeting and paint will be necessary upon tenant move-out
• Pets can often destroy backyards

The Decision

Ultimately, this decision is entirely up to you. It is important that you carefully weigh the pros versus the cons when considering whether or not you should allow pets in your rentals. You may find that it makes sense. Or you may deduce that it’s easier to not deal with the hassle.

The post The Pros and Cons of Allowing Pets in Your Rental appeared first on Boundless Management.

More privacy, less noise

Let’s face it, when you share walls with other neighbors, you can hear them, and they can hear you! With a free-standing home, you won’t have to deal with noisy neighbors, and by the same token, you’ll be able to make noise or play music without worrying about bothering someone else.

More outdoor space

With an apartment, usually the most outdoor space you can expect is a small patio or balcony (if you even get that). Most free-standing homes, on the other hand, include some sort of yard. If you have kids, or if you enjoy spending time outdoors, renting a free-standing house is a definite plus over an apartment.

More ability to personalize your space

Most apartment communities limit the amount of decorating you can do (for example, you usually can’t paint or apply wallpaper to the walls). While this can also be the case with rent houses, many landlords do understand that their tenants need to make the space “their own.” You’ll often find a landlord to be more flexible about allowing you to paint or decorate in a free-standing home (although you may have to reset it to “neutral” when you leave).

The chance to become a home owner yourself

If you are renting an apartment, you’ll almost always remain a renter. However, if you rent a free-standing home, there’s always the chance that the owner will be willing to sell. If you really like the home you’re renting, you may have the opportunity to buy it from the landlord if he/she ever decides to put it on the market. You might even be able to set up an owner-financing or rent-to-own arrangement with the landlord.

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Improve curb appeal

You don’t necessarily have to shell out thousands of dollars for a landscaping overhaul (unless the property really needs it), but anything you can do to improve curb appeal will help you get you the rent you want. Mow and fertilize the lawn; weed the flower bed (and plant a few flowers). Clean the windows. You’d be surprised at how a bit of simple upkeep can improve the perceived value of your rental property.

Fresh paint

Always apply a fresh coat of paint on the interior walls between tenants to present a “new” look. For best results, avoid bold colors that not everyone will go for; instead, keep it to lighter, neutral colors, as this also has the effect of making the home look larger. (Side tip: you may also negotiate a slightly higher rent by offering to let the tenant paint as an incentive to rent; you can write approval stipulations and re-painting policies into the lease to protect your interests.)

Update kitchen / bath fixtures

When things look old and dated (especially in the kitchen and bathrooms), the perceived value of your property goes down. New lighting fixtures are not that expensive, and they go a long way toward making kitchens and bathrooms look newer and more inviting. Replacing worn toilet seats and flush handles are also inexpensive fixes. Also, consider painting or staining the cabinets, or even just replacing the handles and knobs for a more current look. Finally, if your budget allows, consider investing just a bit more into new faucets and sink fixtures to make them more attractive.

Clean, clean, clean

It’s amazing how much value you can add to your rental just by removing dirt. Spotless floors, clean countertops and shampooed carpets all make a good impression, and tenants are more likely to agree to your rent if the place looks “move-in ready.”

The post Simple Improvements to Increase the Value of Your Rental appeared first on Boundless Management.

Midtown

Some people consider Midtown the heart of Atlanta. After all, it is home to several major colleges and the headquarters or major hubs for several large companies like Coca-Cola. It is culturally diverse, boasts one of the city’s largest parks and is home to great entertainment spots like the infamous Fox Theatre and the Atlanta Symphony Orchestra. From new high-rise apartments to single homes in historic neighborhoods, Midtown offers a place to live for every person’s taste.

Old Fourth Ward

In 2013, Atlanta’s mayor offered tax incentives for businesses to move to Old Fourth Ward and help turn the area into a place where people wanted to be. So far, so good. Since the 1980s, locals have been restoring the area, fixing up old homes and businesses. It is quickly becoming one of the most desirable places to live, work and play in the city.

Westside

Atlanta’s Westside was once a bustling commercial hub, but by the 1950s, its buildings sat mostly empty. Over the years, however, a few creative minds came along and turned those empty spaces into trendy apartments and homes, adorable retail shops and popular restaurants and night clubs. Whether you are a social butterfly or you prefer a more relaxed way of life, there is something for everyone in Westside.

Many of Atlanta’s major neighborhoods have been revitalized over the years with contractors building new properties or restoring old ones for renters who flock to the city from all over the world. No matter what you are looking for, you will most likely find it in one of the three neighborhoods above.

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What is housing discrimination?

Housing discrimination is when you are treated differently when trying to rent, buy or sell a home based on certain factors. These factors include:

• Race
• Sex
• Age
• Sexual orientation
• Religion
• Class
• Familial status
• Disability

What counts as discrimination?

Sometimes it’s hard to tell if someone is illegally discriminating against you. Landlords have a right to their opinions just like everyone else, but they shouldn’t let it affect their decisions when it comes to renting an apartment. It’s illegal for a landlord to use one of the items in the bullet list above to:

• Refuse to rent to you
• Give you different accommodations compared to everyone else
• Make you use other different facilities
• Make you agree to different rental terms
• Deny that an apartment is available for rent

Visit the U.S. Department of Housing and Development website for a full list.

Housing discrimination has been illegal for over fifty years, but it still happens in the United States. Thankfully, we here at Boundless Management abide by the law and treat all renters equally without discrimination.

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Here are a few of the reasons why rental properties are a great addition for an investment portfolio.

Renting is Popular

In the past, most people moved out to the suburbs and bought a home when they had enough money. Today, more people are attracted to living in populous areas. Thanks to fairly low crime rates, city centers and other areas with walking access to restaurants and other amenities downtown, midtown and uptown areas are seeing a resurgence in interest. This trend is expected to continue as the economy improves and young people find better jobs.

Rentals are Even More Popular During Recession

Predicting recessions and bubbles is inherently difficult, but investing in rental properties is a great way to insulate yourself. When the housing market crashed, former homeowners turned to rental properties, and rental prices remained strong even when home prices plummeted. Rental prices continue to rise as the economy improves, and those who purchase rental properties can expect a solid return on their investments.

Areas Change Quickly

While gentrification is a controversial issue, there is no doubt that it helps those who offer rentals. As people look away from the suburbs and toward fun, connected areas, gentrification will continue in big and small cities. Because of this, there are great deals available for those who know a particular area and who are able to tell which area will become the next hip spot. While these purchases remain as steady investments, they can also yield tremendous returns should the area become more popular.

Help is Available

Managing property can be difficult, but there are experts who can help, like those here at Boundless Management. For those who do not wish to be involved in the day-to-day management of their properties will find services like ours available who can provide these services for a reasonable price. Doing so will allow you to focus on other areas while retaining your investment income.

Real estate has changed since the last recession, and investors are, understandably, a bit wary. However, the real estate field is not monolithic, and there are some investments that provide protection against economic stress. Before abandoning the idea of investing in real estate, consider purchasing a rental property to add to your portfolio.

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