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Atlanta Condos For Sale

How Can I Lease My Midtown Atlanta Condo?

August 4, 2017 by Thom Abbott

How Can I Lease My Midtown Atlanta CondoYou’re a real estate investor. The Midtown market is hot, hot. You want to cash in and get an investment property.

You’re already a Midtown condo owner. You just met the guy (or girl) of your dreams and they want a house in the new real estate hot spot of Chamblee. But you want to keep the condo. 

How Can I Lease My Midtown Atlanta Condo?

All of the above are scenarios I encounter on a weekly or monthly basis. Another is that dreaded, ” I got a job in _______ (Fill in the blank) but I want to come back to Atlanta and I still want my condo here. Unfortunately, you may have a problem with what to DO with your condo….be it in Midtown or anywhere in Atlanta.

And this is nothing new, just because of the hot real estate market and limited inventory! I wrote about this very subject in 2012! 

You can’t just up and decide to lease your condo. All condominium buildings (well actually the Homeowner’s Association a.k.a. the HOA) have requirements as to the number of condos that can be rented at any given time. And that number in most buildings is around 25%. But why? It’s MY condo! I’ll do what I want with it!

NOT SO FAST!

When you purchased that condo, you agreed to abide by a set of rules and regulations, also called the Declaration of Condominium. They can also be called the CC & R’s ( Covenants, Conditions and Regulations). When you move into a condo building, you agree to these rules, and there will always be a provision regarding leasing your condo. And in that provision, you must have a leasing permit, issued by the HOA, to lease your condominium. 

And in most communities, certainly Midtown Atlanta, there is a waiting list to get such a permit. A long, long list.

Why Do I Have to Have a Leasing Permit? 

How can i lease my midtown atlanta condoOne primary reason is because of financing. Most lenders require a certain number of the homes in any community be owner-occupied. To get financing for a buyer, the lender will ask for a condo questionnaire to be completed, and the HOA must disclose how many homes are currently leased. If there is too high of a percentage, the lender may feel that a loan in that building is not a sound investment. There is also the un-founded truth that renters are less desirable neighbors, and don’t take care of a home like a homeowner would. (Not true..I’ve seen some pretty scary condos that were owner occupied…and I’ve seen many a owner bang into a wall, or scuff the paint with a suitcase of moving cart!)

Some HOA’s will allow a hardship leasing permit. Like the job example above? Let’s say you DO have to move out-of-state for a job, but want to move back as soon as you find a new job here in Atlanta! These situations are handled on a case-by-case basis, and differently from building to building. 

I’ll Just Rent It “Under The Table” They Will Never Know

Ah, that would be a big….NO! 

Have the HOA (remember that neighbor you never met…but now knows someone ELSE is living in your condo) find out you are renting and  your tenant could face eviction. You will most certainly get a fine…as little as $25 per day to as much as $500 per day. The HOA can turn off access to common areas like the garage where you park, the club room and any other amenities. It can get pretty messy. Probably NOT worth the risk. 

So if you are looking to buy a Midtown Atlanta condo, or a condo anywhere in the Atlanta area, make sure you place your name on the lease waiting list as soon as you close. Some HOA’s have a grace period of 90-120 days before you can, but get it on there when you can. It may take 4-5 years to clear the list, but when you do, it may be perfect timing to THEN turn it into an investment property and rent it! (And I can help you with that process!) 

Or you may have no choice but to sell. I can help you through that process as well. Here are some tips about selling your Midtown Atlanta condo!

Just know that you need to be living in that condo, and don’t think you will be renting it out! 

Filed Under: Blog, Buyers, Midtown Atlanta Condos For Rent, Property Management Info, Real Estate Tips, Sellers Tagged With: Buyers, Midtown Atlanta Condominiums, Midtown Atlanta Condos For Rent, Sellers

Spire Midtown Atlanta For Rent | 2/2 | $3100

July 8, 2016 by Thom Abbott

 


Penthouse Views At Spire Midtown Atlanta
Overview
Maps
Photos
Features
Description
Neighborhood
$3,100
Residential Rental
Main Features
2 Bedrooms
2 Bathrooms
390 Units
Interior: 1,168 sqft
Year Built: 2005
Location
860 Peachtree Street, NE
2701
Atlanta, GA 30308
USA

Thom Abbott Thom Abbott

Thomas Ramon Realty@ Palmer House Properties (Office Phone: 404.876-4901)
(770) 713-1505
[email protected]
https://MyMidtownMojo.com   

Listed by: Thomas Ramon Realty @ Palmer House Properties

Our recent listings

Penthouse Views At Spire Midtown Atlanta
Top Floor Cornerstone Village For Rent! AUGUST 1st
JUST REDUCED! Buckhead Living and Convenience at The Peachtree Residences
Viewpoint Midtown For Rent 2 Bedroom 1 Bath
Viewpoint Midtown Atlanta Condominiums

 

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Filed Under: Atlanta Real Estate For Sale Or Rent, Midtown Atlanta Condos For Rent Tagged With: Atlanta Condos For Rent, Midtown Atlanta Condominiums, Midtown Atlanta Condos For Rent

Viewpoint Midtown FOR LEASE 2 Bedroom/1 Bath | $1950 Per Month

April 19, 2016 by Thom Abbott

 


Viewpoint Midtown For Rent 2 Bedroom 1 Bath

Overview
Maps
Photos
Features
Description
Neighborhood
Market Stats
$1,950
Condominium
Main Features
1 Bedroom
1 Bathroom
Interior: 860 sqft
Year Built: 2008
Location
855 Peachtree Street
1710
Atlanta, GA 30308
USA

Thom Abbott Thom Abbott

Thomas Ramon Realty@ Palmer House Properties (Office Phone: 404.876-4901)
(770) 713-1505
[email protected]
https://MyMidtownMojo.com

   

Listed by: Thomas Ramon [email protected]House Properties

Our recent listings

Viewpoint Midtown Condo For Rent 2 Bedroom 1 Bath
Buckhead Living and Convenience at The Peachtree Residences
Viewpoint Midtown Atlanta Condominiums
Spire Condominiums Midtown Atlanta

 

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Filed Under: Atlanta Real Estate For Sale Or Rent, Blog, Midtown Atlanta Condos For Rent Tagged With: Atlanta Condos For Rent, Midtown Atlanta Condos For Rent

Viewpoint Midtown Rentals | 1Bedroom PLUS Den For Rent | $1950/month

September 12, 2014 by Thom Abbott

 


Viewpoint Midtown Condo For Rent 1 Bedroom PLUS Den

Overview

Maps

Photos

Features

Description

Neighborhood

Market Stats

$1,950
Condominium
Main Features
1 Bedroom
1 Bathroom
Interior: 860 sqft
Location
855 Peachtree Street
1710
Atlanta, GA 30308
USA

Thom Abbott Thom Abbott

Thomas Ramon Realty@ Palmer House Properties (Office Phone: 404.876-4901)
(770) 713-1505
Thom@MyMidtownMojo.com
https://MyMidtownMojo.com

   

Listed by: Thomas Ramon Realty

Our recent listings

Viewpoint Midtown Condo For Rent 1 Bedroom PLUS Den
Viewpoint Midtown Atlanta Condominiums
Spire Condominiums Midtown Atlanta
Chic Peachtree Lofts Condominium
CORNERSTONE VILLAGE CONDOS FOR RENT

 

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Filed Under: Atlanta Real Estate For Sale Or Rent, Midtown Atlanta Condos For Rent Tagged With: Atlanta Condos For Rent, Midtown Atlanta Condos For Rent

Freedom Heights Condominiums | 1 Br/1BA | $1100 Per Month! | Avail November 1

October 6, 2013 by Thom Abbott

 


Freedom Heights Spacious Condo For Rent — Direct Access to The Beltline!! $1100 Per Month

Overview

Maps

Photos

Features

Description

Market Stats 

$1,100
Condominium
Main Features
1 Bedroom
1 Bathroom
184 Units
Interior: 793 sqft
Location
821 Ralph McGill Blvd
3222
Atlanta, GA 30306
USA

Thom Abbott, GRI Thom Abbott, GRI

Thomas Ramon Realty
(770) 713-1505
Thom@MyMidtownMojo.com
https://MyMidtownMojo.com

   

Listed by: Thomas Ramon Realty @ Palmer House Properties

Our recent listings

Freedom Heights Spacious Condo For Rent — Direct Access to The Beltline!! $1100 Per Month
Mayfair Tower 1 Bedroom/Den – 2 Full Baths $1650 Per Month
JUST REDUCED!!! CORNERSTONE VILLAGE MIDTOWN ATLANTA 1 BEDROOM
Viewpoint Midtown Atlanta One Bedroom Homes from $209,000
CORNERSTONE VILLAGE CONDOS FOR RENT

 

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Filed Under: Atlanta Real Estate For Sale Or Rent, Blog, Condominiums of Midtown, Midtown Atlanta Condos For Rent Tagged With: Atlanta Condos For Rent, Midtown Atlanta Condominiums, Midtown Atlanta Condos For Rent

Mayfair Tower Condo Midtown Atlanta FOR RENT 1 Bedroom PLUS Den $1650 Per Month

October 6, 2013 by Thom Abbott

 


Mayfair Tower 1 Bedroom/Den – 2 Full Baths $1650 Per Month

Overview

Maps

Photos

Features

Description

Market Stats 

$1,650
Condominium
Main Features
1 Bedroom
2 Bathrooms
Interior: 1,109 sqft
Location
199
14th Street
Atlanta, GA 30309
USA

Thom Abbott, GRI Thom Abbott, GRI

Thomas Ramon Realty
(770) 713-1505
Thom@MyMidtownMojo.com
https://MyMidtownMojo.com

   

Our recent listings

Mayfair Tower 1 Bedroom/Den – 2 Full Baths $1650 Per Month
JUST REDUCED!!! CORNERSTONE VILLAGE MIDTOWN ATLANTA 1 BEDROOM
Freedom Heights Spacious Condo For Rent — Direct Access to The Beltline
Viewpoint Midtown Atlanta One Bedroom Homes from $209,000
CORNERSTONE VILLAGE CONDOS FOR RENT

 

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Nearby properties for sale

Powered By RealBird.com

 

Filed Under: Atlanta Real Estate For Sale Or Rent, Blog, Condominiums of Midtown, Midtown Atlanta Condos For Rent Tagged With: Atlanta Condos For Rent, Midtown Atlanta Condos For Rent, midtown atlanta real estate

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Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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