Property Management Blog

Rental Market Update – Looking forward in 2012

Thursday, November 29, 2012
Atlanta Property Management Blog

The past couple of years we have seen a big change in the types of tenants now renting homes. Consequently, the type of home that they are looking for has significantly changed as well.

Trend #1 – Multi-Generational Households

With unemployment being still fairly high. We are seeing more and more multi-generations living together to make ends meet. College students not able to find jobs are still living at home and Grandparents helping with child care are just some examples. So what this means is that people are looking for larger homes that accommodate more adults.

Trend #2 – More Telecommuting/ Working from Home

With employers trying to reduce the needs for expensive office space, they are offering more flexible work schedules and allow employees to telecommute. This has increased the need for additional space to work. So the desired minimum number of bedrooms/office has increased.

Trend #3 – Foreclosed Homeowners

With the increase in foreclosures, short sales & strategic defaults, more and more “middle class” are now renting rather than owning. However, these foreclosed owners still want to maintain their lifestyle. So we are seeing that the higher priced, newer homes, are more in demand that in previous years.

Trend #4 – Rental Rate Negotiation

In previous years, we would offer a home for rent and the tenants would either accept the stated rent or select a different home. In today’s market, most tenants are looking for some kind of special or deal at move in. They also will ask for on-time rent discounts, monthly rent reductions, or money off at time of move in.

Trend #5 – Generations of Renters

Because of the difficultly of qualifying for a mortgage, we are seeing more and better quality of tenants. With the influx of foreclosed homeowners, who have no choice but to rent, we are finding that they are staying longer and are paying on time. We expect this to continue for several years.

So, in conclusion, properties with 4 or more bedrooms, in good condition. we are seeing minimal time on market. Homes that have been updated and “current”, that are priced appropriately we are renting in a matter of days.

Contact Us

Rental Home Atlanta, Inc.
PO Box 923116
Peachtree Corners, GA 30010

Phone: 770.416.1444

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The Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase/rental decision.