|Specialty||# of Agencies|
|Single House or Condo||45|
|Home Owners Association||15|
|Total Local Companies||64|
Georgia Rental Market Overview
Georgia Job Growth Tied to Rental Estimates
If you're optimistic about the American economy, Georgia offers plenty of opportunities. The vacancy rates in large metropolitan areas continue to drop. Atlanta's vacancy rate fell for the fifth consecutive year according the Marcus & Millichap 2013 National Apartment Report (NAR). The report ranked Atlanta 35 out of 44 US cities in their index of top US rental markets. The report predicts that improving rental market conditions will attract institutional buyers, although Atlanta's improved job growth and vacancy rate is not uniform throughout all of Georgia. While a March 2014 RealtyTrac report indicated that 96% of 410 US County Real Estate Markets are now better off than at the height of the foreclosure crisis four years ago, the interactive heat map highlighted a number of Georgia counties with low performance scores, including Crisp, Glynn, Murray, Decatur, Lowndes, Berrien, and Florence counties. The heat map evaluated these counties based on home price appreciation, affordability, percentage of REO (bank owned) sales and the county unemployment rate according to the U.S. Bureau of Labor Statistics. Aside from a few elevated REO sales, most of the Georgia counties receiving low scores had unemployment rates above 10%. Keep in mind that at the time of this study the national unemployment rate was 6.7%. Georgia counties that did well according to the heat map analysis included Polk, Jasper, Oconee, Madison, Thomas, Catoosa, and Chattooga counties, which largely demonstrated lower unemployment rates at or near 7%.
Find the Best Market for Your Investments
The 2013 NAR estimated that more than 18,000 new apartment units remain planned in the near future in Atlanta, which will bump up the city's vacancy rate unless new jobs keep pace with the construction. One of the biggest challenges confronting small landlords in Atlanta is that institutional investors appear to be focused in the metro area near the major employers. If you want to compete, you need to locate and renovate older Class B and Class C Atlanta rental properties, or focus on Georgia cities that have not drawn the attention of significant corporate capital. That's one reason why a growing number of small property investors turn to property management companies for insights and investment advice. Besides offering services like marketing, accounting and lease enforcement, most Georgia property management companies employ real estate professionals who understand the processes and concerns surrounding rental property acquisitions. Many of these local property managers already work with clients and tenants in your desired market, so they understand the unique characteristics far better than any data you'll find in online reports. Take a moment to review the profiles of Georgia property managers here and then request your free information today.