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Old 09-08-2011, 09:30 AM
 
Location: Georgia
121 posts, read 345,800 times
Reputation: 36

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I am considering renting out my house in Grant Park, but have a few questions regarding this.

-Are there renting restrictions in Grant Park
-Would a 2 bedroom/1 bathroom be rentable for $1200/month?
Ths house is in very good condition with a huge backyard, it is still has all of the old historic charm.
-Are people renting alot in Grant Park right now?
-What are the tax implications of renting out a home in Atlanta?

Any other thoughts/advice is also appreciated!

Thanks!
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Old 09-08-2011, 09:35 AM
 
Location: Inman Park (Atlanta, GA)
21,870 posts, read 13,726,432 times
Reputation: 14287
I don't think that there are any rental restrictions in Grant Park. I have never heard of a neighborhood HOA that would prevent you to do so.

In terms of desirability - it would also depend on the school district that you are zoned for. Obviously so schools are better than others. I don't know what rental rates are like in Grant Park.

Here is an article that you might find helpful in terms of tax implications on renting your house. Should You Rent Out Your House or Sell It? - SmartMoney.com (http://www.smartmoney.com/spend/real-estate/should-you-rent-out-your-home-or-sell-it-14396/ - broken link)
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Old 09-08-2011, 01:14 PM
 
Location: Atlanta, GA
504 posts, read 1,398,544 times
Reputation: 182
I agree with George. You can also check out what's posted in the rental sections on some of the RE websites.

Like this search on Trulia (There's also Realtor.com, which is a good one.)

Of course you can change the settings as needed to get a better idea. These probably won't be a total indicator of what they are going for, but they can give you some good comparables.

I used a Property Manager to rent out my house in Decatur about 6 months ago. Good luck!
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Old 09-08-2011, 01:21 PM
 
2,599 posts, read 3,953,514 times
Reputation: 3033
Quote:
Originally Posted by brooklynbarker View Post
I am considering renting out my house in Grant Park, but have a few questions regarding this.

-Are there renting restrictions in Grant Park
-Would a 2 bedroom/1 bathroom be rentable for $1200/month?
Ths house is in very good condition with a huge backyard, it is still has all of the old historic charm.
-Are people renting alot in Grant Park right now?
-What are the tax implications of renting out a home in Atlanta?

Any other thoughts/advice is also appreciated!

Thanks!
$1200 for a 2/1 may be a little high depending on the house and where it is. I rented a 3/2.5 with a basement and carport for $1200 in 2005-2006 on the south side of the park. You may be able to get that between Hill St. and Cherokee Ave and maybe closer to parts of Memorial. Parts of Grant Park border some less desirable areas.

I think it should be easy to find interested renters if the price is right. GP is popular with a lot of different types of people.
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Old 09-08-2011, 04:22 PM
 
3,317 posts, read 4,940,792 times
Reputation: 2026
Depends entirely on the quality of the house. If it's newly renovated, historic, and has offstreet parking, that sounds reasonable. A little bit high if not. Location is important too.
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Old 09-08-2011, 08:40 PM
 
2,685 posts, read 5,411,852 times
Reputation: 945
Based on your questions sounds like you need to do some research.

To determine what you could get in rent search Craigslist, use Zillow and look at for rent signs in your neighborhood.

For logistics of renting including tax implications I recommend doing some homework, get a good book (Landlording by Robinson is great, I think thats the name) or at least visit some landlord sites, your local landlord association may also be helpful.
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