Appreciation
There is still room for overall growth in Georgia. Even with this most recent burst of appreciation the developers recognize the potential for growth and are coming in droves to be a part of it. It may not always make the locals happy but the suburban sprawl is coming whether they like it or not. Georgia overall has the space for it as well as the demand. ⮵
Atlanta- Jackson Heartsfield Airport is the most traveled airport in the WORLD!!
That doesn’t happen by accident! Corporate businesses are moving here due to tax breaks, affordability and overall desirability. Including large film production studios. That’s in addition to many fortune 500 companies that are already here:
Home Depot, Delta, Coca Cola, UPS to name a few. Georgia was also ranked #1 for the 8th consecutive year for doing business. Atlanta has become very attractive for the top talent in a lot of industries.
rental rates are great
In most places you can get $1-$1.50/sq ft. as you get over 2800 sq ft that may not always be the case, but some of the smaller rentals, especially single stories or at least a ranch on a basement will bring amazing rent values while not having the overhead costs of a large home. Of course, you will always need to do your own due diligence on this matter BEFORE you buy. Also, with additional amenities you can charge more, just like other rentals. Also worth mentioning are executive rentals. Rentals that facilitate CEO’s and presidents to entice their move from other companies.
no rent control
This is a BIGGIE! – There is no cap or percentage increase you can charge or limits on late fees etc. Georgia residents are actually very upset about the amount of “affordable housing” there is. The truth is the values and rates have gone up quite a bit and it will take time for residents to adjust. However, as a landlord the law is on your side to adjust with your needs and market rates. The opposite of California where you can only increase a certain percentage every year no matter improvements or demand. Georgia does require that you return a renters security deposit within 30 days, BUT you can charge whatever you like for the security deposit and late fees.
Landlord friendly state
In theory, “No rent control” is part of why Georgia is a landlord friendly state. However, there are several other reasons lumped into that as well. The first and most important is accountability for paying rent. If a tenant does not pay rent the landlord does not have to wait 30 days to file for eviction like some states. A landlord can file immediately for eviction and while there are some tenant rights the law leans heavily on the landlords side and does not allow squatters or extended stays without payment. A landlord can have a tenant removed on the 8th day of non-payment. Eviction laws, low taxes, no rent control are all factors why Georgia is a landlord friendly state.
Short term, income replacing properties- VRBO, AibNb
Last piece that is becoming a huge element nationwide is Short term rentals, like vrbo and airbnb. This type of investing is HUGELy popular because of the amounts you can charge for such a short term. Metro Atlanta areas are in high demand as well as coastal areas like Savannah, Orange Coast area, especially with so much movie production coming this way. Often times folks are only here for a production or a season and they don’t need a lease so this type of investing can meet those needs. Savannah and the Orange Coast are just like any other area to visit, there is history and leisure in one place. As well as the many many lakes we have like Lake Lanier, Lake Oconee, Lake Allatoona to name a few. Even the blue ridge mountains are becoming more and more popular for VRBO destination places.
Helpful articles and links
There are several places that rank Georgia in the top 5 places to invest due to several factors, eviction process, property taxes and rent control and other rules.
If you are interested in investing in Georgia make sure you do proper due diligence as stated in other videos Georgia is a “buyer beware” state. It is not the responsibility of the seller to disclose. Some suburban areas and city environments have strict HOA rental policies. Some require leases longer than 12 months, some don’t allow rentals at all. So make sure you do your research first!
According to roofstock.com Georgia is second only to Indiana for landlord friendly environment for investments and rentals. This is based on 4 main factors eviction process, property taxes, rent control, other rules: read this article here.
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