Being landlord ourselves, I understand it is tough to manage it long distance. But right now my son and 3 his friends are going to pay for 3000/month (750/mon/person) to share the 4 bedroom, 2 bath (1300 sqft). Somehow, I feel I can help them do better than that. Either renting or buying is fine to us. They are 19 yrs old, I don't know how many landlords would like to rent to them. Even someone is willing to rent to them, it is very hard for those kids to tell it is safe or not.
What is the vacancy rate in the area? Where is safer area near the campus? Does anyone have any idea how other parents do this?
I own a 2 bed 2 bath in 800 Peachtree St. Many GT students and professionals live in our building. Some GT students rent, although only 20% of our units may be rented, several are owned by parents whose student children live there, and the others are owned outright. I have been considering selling our unit and will probably do so in the next year. It is on the top floor at the end, so only one neighbor and no-one above. It is about 1200 sq ft. Let me know if you are interested in discussing this further.
And there is one 2 bedroom with only 1 bathroom. As far as this building being a good choice for your son, what type of amenities or other criteria are important to you when choosing a condo for your son?
The Windsore Over Peachtree offers convenience to GA Tech and the Midtown entertainment.
Let me know when you are available to view select units in this building or nearby.
I am available to assist.
Licensed Realtor in GA and NJ
Better Homes and Gardens Real Estate Metrobrokers
I suggest that using MARTA will enable more options that you will probably like. Look eastward, look southward and look westward for value.
1801 Peachtree Street, Suite 100
Atlanta, GA 30309
Good idea as this can be less expensive and might be safer than tech housing - however you will need to buy it right and consider the monthly HOA fees as well. Those can get expensive - several hundred per month and that can skew the math.
I would suggest caution; the idea is sound the execution can be sound given proper research into the myriad of influencing factors. I'm familiar with all of the options around tech, I've done this exact thing for Tech, Emory and smaller school parents in Atlanta for many years. Getting in needs to be researched but so does carry costs and the exit strategy.
Let me know if I can help - Hank
The Live in Atlanta GA Team
Keller Williams Atlanta Midtown