Tag Archives for " leasing rental property "

Emory Area/DruidHills – Home for Rent

Lease a Classic 3 Bedroom/2 Bath Older Home located in Druid Hills Historic District within walking distance to Emory University.

Features include a spacious Living Room with Fireplace and built-in Bookshelves, large formal Dining Room, cozy Den with French Doors to covered patio; Custom Kitchen with glass-front cabinets, ample pot drawers, stainless steel appliances, pull-out Pantry and Granite Counters.

The property has a main floor Bedroom and Full Bath.  The upper level addition includes a Master Bedroom with Sitting Area and French Doors to Deck, Master Bath with Double Sinks, separate Tub and Shower, Walk-in Closet plus additional Bedroom/Office and Full Bath with Washer/Dryer.

Other features include Hardwood Floors throughout,  High Ceilings, Screened Porch, Large Lot, Patio, Offstreet Parking with easy turnaround for 2-3 cars.​

Contact Atlanta Decatur Homes for availability and further details.​

Checklist for Prospective Tenants

Small house representing Emory rental property

If you plan to lease a property in the Emory Area or in Decatur, you should know what may be expected before you complete an application to rent a home.

Finding the right home in the Emory Area where you want to live is an obvious first step, but prospective tenants often have to pass stringent credit and background checks. In popular neighborhoods where rental properties are at a premium, there may be tough competition for a desirable home. It's best to be prepared in advance:

  • Check your credit - most credit companies allow you to have one free credit check per year.  Here are the phone numbers for the major credit card companies:
  • While it is always advisable to see a rental property before you decide to lease, this may not be possible if you live out of town.  In this case, arrange to have a colleague or friend view it for you.
  • Don't lie on the Application - if you have had bankruptcy, credit issues, or disputes with previous landlords, discuss these with your Decatur Property Manager.  Some landlords are more lenient than others.
  • If you have Pets, let the Property Manager know before you fill out the Application. Many landlords do not accept pets, or may require a Pet Deposit if they do accept them.
  • If you want to be in a certain School District, check with the School yourself to make sure the property you want to lease is located in that District.
  • If you are concerned about safety in the neighborhood of the rental property, call the local Police Department.
  • You will be required to complete a Rental Application for most properties.  Some Property Managers also require a copy of your Driver's License, recent pay stubs, or bank statements if you are self-employed. Check with your Decatur Property Manager for more specific details.
  • Be aware of money requirements - Most Property Managers require a Security Deposit of one month, plus the first month's rent. Some  landlords  require a Security Deposit plus first and last month's rent.  In addition, if the landlord accepts Pets, there will be an additional Pet Deposit.

Invest in the Emory Area Property Market

Investor contemplating Emory home purchase

There are many reasons why investing in property near Emory University is a great idea!  Here are a few that might encourage buyers to consider buying an investment home in one of the vibrant neighborhoods near Emory University:

  • ​Atlanta is in the Sunbelt!
  • Atlanta and the Emory Area has had positive Job Growth!
  • Our local Emory economy is strong!
  • The area has enjoyed a strong, steady increase in Property Appreciation!
  • It is close to shopping and restaurants!

Perhaps one of  the most compelling reasons to purchase an Investment property in the Emory area is the availability of qualified prospective renters.

According to the Emory University website, as of September 2015, some 7,800 undergraduates and approximately 6,900 Graduate students and professors expected to move into single family homes, condos,apartments and student housing in the surrounding area.  Altogether, Emory University has 13,000 faculty members who needs homes as well.

The Emory Healthcare ​facility on Clifton Road employs approximately 16,000 doctors and medical staff, as listed on their website, and is one of the largest employers in DeKalb County.

The Center for Disease Control,​ also located on Clifton Road, has about 1500 local employees who also need local housing.

It is evident that  the area has a high annual influx of students, professors and medical personnel, which supports the benefits of investing in residential Emory area property where a large number of qualified prospective renters are available.

Invest in the Emory Area Property Market

Investor contemplating Emory home purchase

There are many reasons why investing in property near Emory University is a great idea!  Here are a few that might encourage buyers to consider buying an investment home in one of the vibrant neighborhoods near Emory University:

  • ​Atlanta is in the Sunbelt!
  • Atlanta and the Emory Area has had positive Job Growth!
  • Our local Emory economy is strong!
  • The area has enjoyed a strong, steady increase in Property Appreciation!
  • It is close to shopping and restaurants!

Perhaps one of  the most compelling reasons to purchase an Investment property in the Emory area is the availability of qualified prospective renters.

According to the Emory University website, as of September 2015, some 7,800 undergraduates and approximately 6,900 Graduate students and professors expected to move into single family homes, condos,apartments and student housing in the surrounding area.  Altogether, Emory University has 13,000 faculty members who needs homes as well.

The Emory Healthcare ​facility on Clifton Road employs approximately 16,000 doctors and medical staff, as listed on their website, and is one of the largest employers in DeKalb County.

The Center for Disease Control,​ also located on Clifton Road, has about 1500 local employees who also need local housing.

It is evident that  the area has a high annual influx of students, professors and medical personnel, which supports the benefits of investing in residential Emory area property where a large number of qualified prospective renters are available.

Atlanta Property Manager Could Help you Sleep!

Home with keys representing Atlanta Property Manager

Why hire a property manager for your Atlanta investment home or Decatur home?

​Many investors successfully manage their own Atlanta property and the expense of a property manager seems unnecessary.  A professional property manager can perform many functions you may not have considered.,

  • They can advertise and promote your property.  When your property is vacant, obtaining a qualilfied tenant quickly is important.  Property managers can advertise your investment property on numerous websites and with local Realtors.
  • They can vet your prospective tenants.  Property managers use reliable screening methods that assure your tenants pass credit, background and eviction checks, and require employment and former residence references as well.
  • They can inspect your property and make recommendations for repairs.  A responsible property manager can arrange regular inspections, prepare the property for new tenants, perform Move In/Move-Out inspections, and can set up regular HVAC checks for Fall and Spring.
  • They can prepare a comprehensive Lease.  In Georgia, most property managers use the Georgia Association of Realtors Lease (GAR), which is updated and reviewed frequently by a panel of attorneys.
  • They can provide Monthly and Year-End Reports.  Most professional property managers provide Monthly Reports outlining expenses and rent income, as well as Year-end Reports and forms for tax purposes.
  • They can answer those midnight calls so you can sleep!  Perhaps one unappreciated function of a good property manager is handling the tenant calls for repairs - no matter the time.

Handling Tenant Evictions in Georgia – the Lease Rules!

Decatur woman writing check to property owner

Property managers who have worked with tenants for a number of years have quite a few interesting stories about evicting tenants!

We do extensive credit and background screening on our tenants, so the majority of them are credit-worthy, responsible renters, who pay their rent on time and take care of the property. Then, there is the exception –

One memorable tenant notified us 60 days prior to the end of their lease that they would not be renewing. We subsequently began advertising the property for new tenants, showed prospective tenants the property, completed the application and screening process, collected a Security Deposit and signed a Lease with new tenants.

Not so fast – first, our present tenant wanted an extension of two weeks to complete their move, then they complained that the movers wanted too much money so they couldn’t move. The property was in chaos with boxes everywhere and packed solid with personal items from the attic to the basement. Every day there was a new reason they couldn’t be out on time. Since we had already committed to new renters, we had no choice but to insist that they be out on the last day of their lease. We had doubts that they would ever vacate!

In Georgia, the Lease details all the terms, including when a tenant is in breach of contract. On the last day of the month before the tenant was to vacate the premises, we gave the tenant written notice they would be in breach of contract if the property was not vacated on time, and that we would file with DeKalb County Court for an Eviction Notice. Miraculously, the were out on the specified date and the need for an Eviction order dissolved.

If you are a Landlord in Georgia, the real estate laws provide for a quick Eviction process compared to other states. I would suggestion two things:

  • Have your tenant sign a comprehensive Lease and,
  • If you are faced with the possibility of evicting a tenant, check the Georgia law procedure on evictions before you do anything – a good real estate attorney can help.

Atlanta Renters Love Dogs – Property Owners Not So Much!

Dog's head in clouds against deep blue sky

Some Pet owners are finding it difficult to lease a property in Atlanta and in the Emory area because many property owners are reluctant to accept pets.

We Love Our Dogs

According to a recent survey by Apartments.com, more than 70% of renters own a pet. In fact, 65% of American households own a pet – 42% owned a cat and 54.4% owned a dog.

Some two-thirds of pet owners have experienced difficult in finding rental property that allowed pets.

If you are an investor with a rental property, one of the frequent questions you will hear is “do you take pets”?

There are horror stories about dogs that destroyed the woodwork or chewed the carpet, but most pets are well-behaved or crated when their owner is away. If the investment property is in a townhome or condo community, you should consider your neighbors, where a barking dog could encourage complaints.

You should also be aware thats Service animals or therapy animals are an exception and you cannot refuse to lease to the owner, or charge a Pet Deposit. The pet owner should provide you with appropriate paperwork, showing that they need the pet for a disability.

The decision to allow pets is a personal one, but here are a few items to consider:

    • You will be collecting a Security Deposit from your tenant. How much additional Pet Deposit should you require? Experienced property managers recommend at least a non-refundable $250 per pet deposit
    • What restrictions will you set on the size of the pet and the breed?
    • If your property is a community with HOA policies, you should check any restrictions they may have before you agree to accept a pet in your investment home.

 

What Can a Decatur Property Manager Do For You?

Decatur businessman with pink pig on head

Managing your own Decatur investment property is often difficult, especially if you need time for a demanding full-time job, a busy family life, and want some precious down time.

Investor[1]
Those annoying tenant requests always seem to come at critical times – just when you are leaving for vacation or an important business trip.

You may have inherited a family home or become a new Decatur investor. Your Decatur home may need repairs or updates – someone will need to meet the workmen.

When your property is ready, you will need to advertise for new tenants – someone will need to screen them carefully by requiring credit, background, criminal checks, employment and more.

  • How will you market your home for tenants?
  • Who will prepare the Lease?
  • Who will hold the Security Deposit?
  • How will the rent be collected?
  • Who will answer the midnight calls from tenants?
  • Who will you use for handymen, electricians, plumbers, etc?
  • If your tenant gets locked out, who will provide an extra key?
  • What records and reports will you keep?

All these items can be professionally handled by an experienced Decatur property manager who knows your neighborhood…..plus more:

  • We can schedule period inspections of your property
  • We can make sure tenants are following the terms of the lease – no unauthorized additional tenants, pets, or painting
  • We can schedule regular HVAC inspections
  • We can prepare any changes to the Lease
  • We can prepare Monthly and Year-end Reports for your records
  • We can schedule necessary repairs
  • We can oversee installation of new carpets, or schedule painters
  • We can initiate all advertising and marketing
  • We can provide strict screening of all tenants

Landlord Responsibilities for Decatur Owners

Orange For Rent Sign with White Letters representing Emory property management services

 

According to Georgia and Federal Law, if you own investment property near Emory University or in Decatur, certain responsibilities fall on your shoulders.

As long as you are not involved in a federal government housing program which have additional requirements,  here are some concerns you should consider:

  • You are required to inform your Decatur renters of the presence of lead based paint on your property.  Lead based paint was banned in 1978 so any newer home is unlikely to contain lead paint.
  • Fair Housing laws also require that you  avoid  discrimination of any kind in leasing your property – – race. color, national origin, religion, sex, familial status or disability.
  • You should be aware that Military service personnel are allowed to break their lease if they are deployed.

Many townhome and condo communities in Dekalb County control how many units are allowed to be leased, and in some cases restrict all property owners from leasing their property if it is not owner occupied.  Local housing authorities may also have restrictions that could affect your rental property.  For example, they could restrict  how many unrelated adults may occupy a property, etc.

Local laws  require you to maintain your property in so that it is safe and habitable. Keeping yourDecatur property and the grounds in good repair is important to protect your investment.   This is what your tenants expect as well.

Screen your prospective tenants carefully by requiring credit, background and criminal checks.  Checking references and employment is also critical.  Once your tenants have occupied the property, they have the right to use, occupy and enjoy the premises in accordance with the terms of the Lease.  Except in case of emergency, this means you can’t just pop by without giving appropriate notice to your tenant.

Check with your local housing office or zoning office if you have specific questions.