Rentals, not resells, hot new trend for Atlanta real estate - KMSP-TV

Rentals, not resells, hot new trend for Atlanta real estate

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ATLANTA -

A Connecticut company is raising $100 million to buy up single-family homes in Atlanta. Their goal is not to resell the homes, but to turn them into rental properties.

Business deals like this are part of an ongoing real estate trend in metro Atlanta, making the city a hot spot for rental homes.

Philip Earley, of Platinum Property Management Services, said, "The community is great in Atlanta. People are always coming and going, and so the rental market is always strong. When the market is hot or down, the rental market is always very steady."

It's Atlanta. Businesses are coming and going – and, so are the people. More and more it seems like fewer and fewer of your neighbors and co-workers are from Atlanta.

Homes that look like this are not only crisp, clean and priced right; but, they will rent within 10-14 days. If we don't have at least three participants on it within the first week of marketing, then we're going to talk to the homeowner about price and condition.

Because renters are requiring more, the homes available in the marketplace are much nicer than in decades past.

"At the end of the day, any home that's priced right and shows nicely, will rent quickly."

The not-so-hot areas are communities furthest from Atlanta, like Dallas, Dacula and Dahlonega – where the commute to work especially is gets very, very long.

Any rentals inside of the perimeter are snatched up within days.

"We like to call it hotel-room condition. If it feels like a hotel room when you walk in, it's ready to rent."

If you don't do the screening, then all bets are off once that person moves in. If you don't know who they are before you give them the key, then you're going to find out real fast after they move into our property.

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