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Old 12-18-2013, 09:19 AM
 
3 posts, read 4,242 times
Reputation: 12

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I'm looking to move to midtown or buckhead in the next month and I have a few questions as a first time renter. I'm a single 23 y/o straight male looking for a highrise in a walkable area.

1. Budget ***
See Below
2. House/Condo/Townhome?
Looking to rent a condo/apartment in a highrise. 1BR/1BA or Studio
3. Employment Status(commute/work from home)
Commute to Alpharetta, McFarland Parkway exit on 400.
4. Children(public school vs. private)
N/A
5. Suburban or Urban lifestyle preference or a mix of the two
Lived in suburbs all my life, looking for a change to a highrise.
6. Easy access to public transit, important or not?
Very important as I want to take Marta to the airport multiple times a month.
7. Preferable demographics of desired neighborhood.
Prefer a younger crowd.

I make $46k a year, so I should have $1277 max for rent per month(1/3 pretax income per month). However, I travel 50% of the time and my company pays for everything while I'm away (food,hotel,etc). They also pay for my car, car repairs, car insurance, gas, cellphone bill, and gym membership. The only things I will have to pay is my rent,utilities,internet(if not included in rent), and food/entertainment which is why I can spend more on a highrise apartment in a walkable area. I have no student loans or debt. The building I want most is Plaza Midtown, but I'm also looking at Metropolis, O5 Buckhead, and Realm. The rent for a 1br/1ba or studio can be had for $1300-$1500, which is over my 1/3 pretax income. Will they be willing to rent to me if I explain my situation, taking into account what I do not have to pay for (car,cell,etc) and that I am a first time renter??
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Old 12-18-2013, 09:26 AM
 
Location: Sweet Home...CHICAGO
3,421 posts, read 5,192,896 times
Reputation: 4355
Quote:
Originally Posted by Benedict_Stag View Post
I'm looking to move to midtown or buckhead in the next month and I have a few questions as a first time renter. I'm a single 23 y/o straight male looking for a highrise in a walkable area.

1. Budget ***
See Below
2. House/Condo/Townhome?
Looking to rent a condo/apartment in a highrise. 1BR/1BA or Studio
3. Employment Status(commute/work from home)
Commute to Alpharetta, McFarland Parkway exit on 400.
4. Children(public school vs. private)
N/A
5. Suburban or Urban lifestyle preference or a mix of the two
Lived in suburbs all my life, looking for a change to a highrise.
6. Easy access to public transit, important or not?
Very important as I want to take Marta to the airport multiple times a month.
7. Preferable demographics of desired neighborhood.
Prefer a younger crowd.

I make $46k a year, so I should have $1277 max for rent per month(1/3 pretax income per month). However, I travel 50% of the time and my company pays for everything while I'm away (food,hotel,etc). They also pay for my car, car repairs, car insurance, gas, cellphone bill, and gym membership. The only things I will have to pay is my rent,utilities,internet(if not included in rent), and food/entertainment which is why I can spend more on a highrise apartment in a walkable area. I have no student loans or debt. The building I want most is Plaza Midtown, but I'm also looking at Metropolis, O5 Buckhead, and Realm. The rent for a 1br/1ba or studio can be had for $1300-$1500, which is over my 1/3 pretax income. Will they be willing to rent to me if I explain my situation, taking into account what I do not have to pay for (car,cell,etc) and that I am a first time renter??
What situation are you referring to? If you have good credit, and can show that you make three times the rent, you shouldn't have a problem getting a place. If your income doesn't qualify for those places, you need to be realistic about your budget and look elsewhere.

You might have more wiggle room with a private owner but these corporate-owned places are more likely to reject your application if you don't meet the credit and income guidelines. I'd find a realtor to connect with private owners renting out condos in high-rises.
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Old 12-18-2013, 09:35 AM
 
1,637 posts, read 2,619,171 times
Reputation: 802
Midtown
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Old 12-18-2013, 09:37 AM
 
3 posts, read 4,242 times
Reputation: 12
Ok, thanks for the reply Atlanta_BD I'll look for private owners. If I went with a corporate-owned place, should I be calculating the 3 times my income based on pretax or post tax?
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Old 12-18-2013, 09:41 AM
 
10,974 posts, read 10,812,306 times
Reputation: 3435
I used to have job with a lot of travel. I highly recommend getting a roommate. Make the finances work out great.

And I'd pick Midtown over Buckhead. Especially if you want the one with better walk-ability.
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Old 12-18-2013, 10:01 AM
 
Location: Atlanta
2,862 posts, read 3,798,801 times
Reputation: 1471
Quote:
Originally Posted by Benedict_Stag View Post
Ok, thanks for the reply Atlanta_BD I'll look for private owners. If I went with a corporate-owned place, should I be calculating the 3 times my income based on pretax or post tax?
Pretax
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Old 12-18-2013, 10:40 AM
 
Location: Atlanta
2,862 posts, read 3,798,801 times
Reputation: 1471
Look both places. You don't have to choose one or the other while you're searxching. I have specific locations in both Buckhead and Midtown that suit me as well as some that seem like they wouldn't. Being near a variety of businesses is convenient, but realistically, it's a whole lot more satisfying if those are the places you really want to go.

Take the advice of the person above who recommended that you use an agent. I'm usually up for the task, but the search can be exhausting with so many options. They do it for a living so why not take advantage of their area of expertise.

Also, no matter who says what, test out the experience of potentially living there for yourself. Park your car and just walk around to see what a typical day in your life would be like. Even get on the train to and from the airport since you expect to be doing that frequently.
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Old 12-18-2013, 10:44 AM
 
Location: Sweet Home...CHICAGO
3,421 posts, read 5,192,896 times
Reputation: 4355
Quote:
Originally Posted by ElleKaye View Post
Also, no matter who says what, test out the experience of potentially living there for yourself. Park your car and just walk around to see what a typical day in your life would be like. Even get on the train to and from the airport since you expect to be doing that frequently.
This.

Buckhead may not be as exciting as Midtown, FYI. I'm a Buckhead resident by the way. I'd suggest Midtown for a single guy in his 20's.
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Old 12-18-2013, 10:55 AM
 
3 posts, read 4,242 times
Reputation: 12
Thanks for the advice Elle. I'll take a drive to Midtown to get a real world time of my commute and walk around a bit. Sounds like the consensus is Midtown, I'll continue my search there.
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Old 12-18-2013, 08:01 PM
 
Location: Atlanta
2,862 posts, read 3,798,801 times
Reputation: 1471
Quote:
Originally Posted by Benedict_Stag View Post
Thanks for the advice Elle. I'll take a drive to Midtown to get a real world time of my commute and walk around a bit. Sounds like the consensus is Midtown, I'll continue my search there.

NP. Let us know what you find.
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