How to find tenant for a $3,000 rental? (Atlanta, Tucker: rentals, house)

[patricia43m4]

It's a great house but I know it's not cheap. It's actually what it costs to run. Centrally located near Emory, VA and CDC.
I missed the rental season in April/early May and now it seems that even though the market is apparently tight, there are so many listings that it is easy to have yours buried if you aren't with an agent. I'm just starting so maybe I just need to be patient with the listing. In previous years, it rented within a week to the first person who saw it. Doesn't seem to be the case this year. I was told by an agent that people who can pay $3,000+ will just buy a house. Makes sense.

[bryan alan]

Yeah, if I'm going to pay $3,000 towards a mortgage, it's going to mine, sure as hell not somebody else's. That's steep! I would think that you're having trouble renting because there are much more affordable rentals in the area you described. $3,000 a month to rent is a huge waste of money, I can't imagine why anyone would do that. Maybe you should consider dropping the price to even $2,500 if possible. I'm assuming you're trying to make a little extra though.

[hautemomma]

Maybe do vacation rental or executive housing?

[ATLTJL]

Just kind of wondering, what's the target market?

All I can think of is a resident that may want rent instead of buy because the program is only 3 years long....but I don't know any resident that can afford $3k a month.

Are you hoping to rent to visiting professors, or visiting physicians to the CDC or something like that?

[Alicia64]

Originally Posted by patricia43m4

It's a great house but I know it's not cheap. It's actually what it costs to run. Centrally located near Emory, VA and CDC.
I missed the rental season in April/early May and now it seems that even though the market is apparently tight, there are so many listings that it is easy to have yours buried if you aren't with an agent. I'm just starting so maybe I just need to be patient with the listing. In previous years, it rented within a week to the first person who saw it. Doesn't seem to be the case this year. I was told by an agent that people who can pay $3,000+ will just buy a house. Makes sense.

Your agent isn't totally right. We owned at one point, but rent now because we want the flexibility to pick up and leave if necessary. No, we don't rob banks, but my husband once had a horrible boss who helped us see that by renting, we could just walk away from the craziness if need be.

Is the house off exit 89 in Tucker?

Alley

[CMMom]

I could possibly see a family who's moving to town and doesn't know the area well and doesn't want to commit to buying before getting to know the area (but probably only for a year). Otherwise, the only other option I see is renting to a bunch of college students (like 6-8 of them), which you probably wouldn't want to do, I'm guessing.

[Sualpine]

There is no place in Atlanta worth $3000 a month rental. Zero.

[Forhall]

Originally Posted by Sualpine

There is no place in Atlanta worth $3000 a month rental. Zero.

This is simply not true. There are plenty of people moving to Atlanta from LA, SF, or NYC metro and are used to paying $3k or much more to rent a full house. People moving from those areas that want to rent for a while before buying, and want a large home with a yard in a desirable area won't skip a beat paying that amount. A nicely done SFH in Virginia Highland residential bulkhead, etc could rent for much more than that.

[rselah25]

Why not list it on airbnb.com and see what kind of reservations you get? If you're flexible enough to manage it that way - maybe you can make some good cash in the interim while looking for a full time tenant?

[Domitian]

We contemplated renting a house before purchasing and would have been in the market for a 3000 /month rental. Maybe you do need an agent who works with an agency that also works with corporate relocations? i think your customer base is thin so you'll just need to be patient.