Finding single-family homes for rent in Atlanta is a bit of a challenge in the current market. Well-qualified tenants are looking for these sorts of properties. When the homes are in good neighborhoods and well-maintained, they’re willing to pay high rents for them.
With the sales market being as strong as it’s been over the last year, a lot of owners sold their properties. This has created a big need for attractive single-family homes in Atlanta. If you’re looking to invest in rental real estate, a single-family home is an excellent investment.
It’s not just market conditions that make this a wise choice - it’s all the benefits that come with owning and renting out a single-family home.
Atlanta Tenant Retention is Higher with Single-Family Homes
One of the main benefits of investing in single-family homes is that you generally attract better tenants. People who want to move into a single-family home are more stable and reliable. They want the space, privacy, and feel of their own home without actually buying one themselves. Your renters are required to settle in for several years. They probably won’t move as soon as the lease term ends.
With demographics changing and a new generation of tenants shifting from home ownership trends to a preference for renting, a single-family home will give you the opportunity to find a tenant who is going to pay rent on time, take care of your home, and stay in place for several years.
This is excellent news for your retention rates. You’ll have fewer vacancy and turnover costs, which means higher earnings in the long term.
Rents in Atlanta are Rising
There’s also the attractive rental values.
Typically, you will earn more rent on a single-family home than you will on an apartment, condo, or multi-family unit. The tenants looking specifically for single-family homes want outdoor space. They want parking and in-unit laundry. They are looking for the benefits of homeownership without the big down payment, the mortgage, and the home maintenance. Higher rents can be charged when you invest in a single-family property, especially one that’s in a great neighborhood.
Atlanta Investments Increase in Value
Higher rents are great for both your short term earnings and your long term ROI. But even better is the appreciation you’ll earn on your investment. Single-family homes have always appreciated in value faster than multi-family units.
When you’re ready to sell your asset, you’ll sell it for more and turn your equity into higher returns. Property values will continue to climb when you invest in a single-family home Atlanta rental property, and that means you stand to earn more money on the investment in both the short and long term.
Tenants Help with Maintenance
Maintenance is a shared responsibility when you’re renting out a single-family home in Atlanta. Tenants will want to treat the property like it’s their own, so they’re more likely to change the air filters regularly, keep the home clean, and help you take care of it. They will do some yard work and landscaping to keep up with the neighborhood.
Most responsibilities will still be yours. But, a tenant in a single-family home will take care of the small matters that don’t require a maintenance request. They’ll do landscaping and help with pest control and you can expect them to set up their own utility accounts.
If you’d like some help looking for a great Atlanta investment property, we would love to offer you some advice on the single-family homes you may be considering. Contact our team at Property Services of Atlanta.