Home Buying in Atlanta>Question Details

Miss_e, Home Buyer in Atlanta, GA

I am looking for a condo or townhome in Atlanta. What is the best area for future potential to rent out the home in a few years?

Asked by Miss_e, Atlanta, GA Thu Oct 20, 2011

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Please know that renting a condominium and/or townhouse can be restricted by the property's HOA, Rules and By-Laws. Obtaining financing for those desirous of buying in a complex can be limited by the number of rentals, therefore, many HOAs restrict rentals. With that said, purchase where you want to live, first and foremost. HOAs can change their policy. So just because 'complex A' allows rentals today...you may be restricted in the future.
1 vote Thank Flag Link Thu Oct 20, 2011
Intown Atlanta is a great place to look. Midtown, Buckhead and personal favorite Virginia Highlands. Please call me if I can be of any further assistance to you.
0 votes Thank Flag Link Tue Nov 1, 2011

There are some tremendous opportunities currently available inside 285 for condo's and townhomes. The best area will be the area that works best for you based upon your needs and desires. The market prices have dropped significantly and there are a glut of homes available through resale,foreclosure and short sale...be aware it will take a considerable amount of years for the pricing to rebound..though in highly desireable areas you will find it will rebound quicker such as Buckhead, Decatur,Roswell/Sandy Springs, and Mid Town. In regard to renting there are a handful of communities that do not not have any caps on the number of rentals, but you will find most have a 25% cap and waiting lists. So when you do purchase I would suggest you place yourself on the waiting list so you will be able to rent the home when you desire. If you don't already have an agent working for you I would be happy to help you work through the process. Call or text me and we can get started when you are ready.

Chuck Green, Realtor
Keller Williams Realty
770-714-7077 (direct)
678-578-2788 (voicemail)
0 votes Thank Flag Link Fri Oct 21, 2011
Thank you for your question regarding the best rental areas for a townhome or condo in Atlanta! My suggestion is to considern Intown Atlanta, centrally located closer to where most people work in Atlanta. Even if a person works outside the perimeter of Atlanta, they will usually have a reverse commute to work and will be able to miss most of the gridlock traffic during rush hour. Convenience is important to most townhome/condo buyers. Similar to some of my colleagues below, I will reiterate that many homeowners' associations have restrictions on renting in their communities. This will put a damper on your ability to rent if you buy in one of those communities. An experienced agent, like myself, who is knowledgeable about the Intown neighborhoods of Atlanta can help you explore and consider which precise areas are best for you to consider. However, your price range and desired criteria in your new home will be important factors that will allow us to focus in and help you find the best priced home in the best condition possible! Feel free to contact me and we can discuss your search with no obligation to you. Thank you!
0 votes Thank Flag Link Fri Oct 21, 2011
Please use an agent that is also an investor, like myself, to find properties to minimize issues with COA, HOA and getting a place that will rent.

Mark Lackey
Atlanta Housing Source at
Solid Source Realty, Inc.
Associate Broker

Home Buyers & Sellers - http://www.AtlantaHousingSource.com
Property Management – http://www.RentalHomeAtlanta.com
0 votes Thank Flag Link Fri Oct 21, 2011
Do your research. There are so many condos on the market now.

Look for areas where you have professionals that may be here for a few years, who do not want to buy.

Beware of the 1 bedroom units. 2 Bedrooms sell better and are always in demand. Midtown is a good area, Atlantic Station has seen a large amount of Foreclosures. So It concerns me to some extent. Downtown Decatur is great. You have a great rental market with Emory Medical Students and the CDC. Also the DOWNTOWN Decatur Condo Market has been more stable than other areas. Decatur did not see the same level of over-building as Midtown or Buckhead. Condos near Hospitals like Northside, Piedmont, Emory Midtown, Dekalb Medical are good bets as well.

Good Luck in your search. I am always happy to help.
0 votes Thank Flag Link Thu Oct 20, 2011
In my opinion, you can't go wrong in downtown Atlanta areas such as Midtown, Peachtree St, and Atlantic Station. There are always events happening in the downtown area.
0 votes Thank Flag Link Thu Oct 20, 2011
Best bet is anywhere close to a college. I would say the Atlantic Station area near GA Tech. Hopefully you wouldnt let the concept of college tennants scare you. Other than that there are plenty of other great areas as well. Check out my site and start searching.


And feel free to contact me with any questions.
0 votes Thank Flag Link Thu Oct 20, 2011
Hi Miss_e,

In my experience nearly any area in Atlanta could be a good location for a rental property. All you need to do is set the rent at an appropriate amount for the location - people need to live everywhere!

I've found that it usually makes more sense to purchase something close to where you live. Unless you hire a management company, having something close could make it easier to manage the property.

One of the most important things to research in a condo/townhouse community is whether or not the complex allows rentals, and if they do is there a cap on the number of rentals. I know of only one condo/townhouse community that has no restrictions on rentals, but I'm sure there are more.

If you have more questions I would be happy to help.


Jonathan Huff
Keller Williams Realty Metro Atlanta
m 404-492-7804 .:. f 678-815-0955 .:. jon@hfatl.com
0 votes Thank Flag Link Thu Oct 20, 2011
Short and sweet: Atlantic Station, Midtown and Downtown Atlanta. These are highly desired areas and now is the best time to buy in these locations because you are getting the properties for pennies on the dollar. I can show you a few. You are the client I look for. Good luck!
0 votes Thank Flag Link Thu Oct 20, 2011
There are lots of areas that are excellent for rental , it will depend on your price range and where in Atlanta you would like to be. East Atlanta, downtown, Virginia Highland, Midtown, etc.. Please consider me if you would like someone to assist and represent you in the purchase of your home.
0 votes Thank Flag Link Thu Oct 20, 2011
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