New to Real Estate · Atlanta, GA · Member since 2021 · 2 posts · 1 vote
One of the key factor for rental property is the vacancy rate.
For Atlanta rental market, except hot area (Midtown, Buckehead) which we could not afford for the home price, for the other neighborhood, and with the single home family, how do we know what neighborhood is easy to rent, and what neighborhood have high vacancy rate?
Their is lot of opportunity to create great cashflow with low risk and low vacancy in the suburbs area of Atlanta. The great thing also is that you can still by homes under 300k. Talk to a great management company in your area like Solution Property Management they work the whole metro area and suburbs to get some good advise on the best area to invest around Atlanta. area.
Their is lot of opportunity to create great cashflow with low risk and low vacancy in the suburbs area of Atlanta. The great thing also is that you can still by homes under 300k. Talk to a great management company in your area like Solution Property Management they work the whole metro area and suburbs to get some good advise on the best area to invest around Atlanta. area.
You're absolutely right: When it comes to rentals, vacancy rate is key.
Here in the Atlanta MSA, you're generally pretty safe with an 8% vacancy allowance. That being said, much of the MSA, is closer to 5 or 6%. This is especially true if you're close to the perimeter or any town center. Also, better to be close to shopping (Kroger, Publix, Walmart, etc.) & restaurants. Atlanta is also incredibly hyperlocal - you will want to be very familiar with the submarkets here because neighborhoods can vary by the block. Neighborhood & onsite due diligence is incredibly important here for this reason. However, even in rougher neighborhoods, you will still find plenty of renters but will need to adjust rent accordingly.
Obviously, vacancy is a very nuanced figure though, right? It assumes you have done your research and are asking the right rent for the area & property condition. I would definitely recommend teaming up with a great PM & REALTOR® that know the area well!
Hope this helps a bit. Please, feel free to reach out anytime if you have other questions or just want to chat about the ATL market!
Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
4y
Here’s some practice you can do. Go on zillow or realtor.com. Check each zipcode for lease properties and see much how they are rented for and how long it’s on market. On zillow you can also see how many people applies and inquired about a property. Should be able to give you an idea of how much a like kind property will rent for. You can see how many days it’s on market etc, you can adjust that price lower if a like kind property is on market for a longer period of time. Also ,when a lot of property come up in the same zip code or similar location , you know you’ll have some more competition…
You can also talk to an experienced PM. They should be able to give you a ball park idea on how much it will rent and how long typically it take to get rent out.
Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
4y
By the way it might be hard to get vacancy rate on SFH rental. Lots are still owner managing so it's hard to gather that data. You might be able to get some vacancy rate on apartments by checking some of the big brokerage's quarterly report.