Atlanta Area Homes for Rent
August is one of our lowest months for new leases signed. Everyone has signed up before school has started and therefore it has been extremely slow for rentals & move ins. The good news is that our phone has started to ring as we head into September.
Here are some 2012 Atlanta Rental Trends:
We have seen a recent trend of poor applicants. Within the last month, we have denied more people than we have all year. Not sure why that is the case. We try very hard to approve applicants, but we won’t do it at the expense of our clients. Earlier in 2012, we revised our proprietary application formula and found that this has significantly improved tenant performance. For those tenants that don’t qualify under our traditional guidelines, we do have a high risk category that some tenants may qualify for, therefore limiting exposure for the owner, while allowing a borderline tenant still move forward with his or her application.
We are seeing 2 ends of the spectrum – higher end renters and then lower end renters. There is not much in the middle of the road.
There are some minor rent increases in pockets of city. While they are not dramatic, they do help the bottom line. It is making up for the lost ground of several years ago.
Pet friendly rentals rent much quicker than those that are not pet friendly. We have always been a pet friendly management firm, but every once in a while we get an insistent owner who does not want to allow pets. This automatically knocks out up to 63% of the tenant population which makes it harder to rent their property.
Rental scams have continued in full force. While we do our best to prevent scam artists from stealing our advertising as well as educate potential tenants to the scams, we don’t believe there is an end in sight for these fraudulent postings. We have completely stopped advertising on free websites as we have found this to be the biggest culprit of scams.
So what do we have to look forward to in 4th quarter 2012 & into 2013? We believe it will be more of the same until we get some consumer confidence. Want to know what is going on in the Atlanta Real Estate Market? Click here for information on Atlanta Area Homes Sale.