Property Management in Alpharetta and Johns Creek, Georgia

Never in the past 24 years that I have been selling and leasing residential real estate in the cities of Alpharetta and Johns Creek, Georgia have I seen the market so hot. There are significant market similarities between Property Management in Johns Creek and Alpharetta. On a recent search I discovered that the least expensive single-family, detached home was available for $1,450 per month.

There once was a time when renters on a budget could defer to a condominium if the detached homes were too expensive. But that doesn’t really work in this market because the least expensive condominium I found was leasing for $1,350 per month.

A number of years ago the Harvard School of Business derived a break even analysis formula for deciding the beneficial economics of buying versus renting. Using that formula, both Alpharetta and Johns Creek are right there on the bubble. There is no significant economic advantage to either buying or renting in these two cities.

At the time of writing this article, I searched the local multiple listing service for detached home sale offering prices in these two markets. The least expensive home was $210,000. Prices on the available inventory escalated quickly from there.

Since I own several rental properties in both markets, as well as other markets in the Atlanta metro area, I have been monitoring selling and leasing prices for years. My conclusion is that this is a good time to be either, buying, selling or leasing in these markets. One statistic that stands out among others in these markets is that even in the worst of markets, home prices are pretty stable. In the great 2008 real estate recession, I saw home values plummet in most metro area markets. Johns Creek and Alpharetta lost around 15% while other markets lost as much as 60%.

The only downside to buying homes in Johns Creek and Alpharetta is the cost of investing. Many investors prefer less affluent markets where they can buy more houses with their capital. They want to leverage their capital in the event that there is a costly latent defect or to mitigate income loss during rental vacancies. Truthfully, if one does thorough due diligence during purchase, such defects can be identified and remedied before closing. But there is always that risk. As far as the cash flow problem, I can say that most of the homes I own in these two towns have tenants averaging more than 8 years uninterrupted. One tenant has been in there over 13 years, and we have been escalating the rent rate nearly every year. These have been good investments for me.

Please give 3 Options Realty a call and we can discuss any investment objectives you may have - 678-397-1282.

Daniel R. Wilhelm
Managing Broker
3 Options Realty, LLC.

Short Selling in Atlanta - Really?

Nathan phoned me yesterday. He said he wanted me to help him sell his home in a short-sale. The first question I asked was if he was behind on mortgage payments. He said no, he was current. My next question was: “Then why do you want to sell short?"

1st and last month's rent

Do you collect a first and last month’s rent upon move-in? Do you also collect a separate amount as a security or damage deposit? Do you know how to properly treat these funds in accordance with state law?


Do you self-manage rental property? If you do, do you conduct a criminal background check on applicants?


Probably one of the most vital functions of property management is the tenant applicant screening process.


So you are a landlord or property manager. You approve a rental applicant and have the applicant sign the lease, with a move in date scheduled 14 days later.  


I have written often about this topic but it seems that the message seems to be missed by those that most need to hear it.


Could the information you provide on a rental home application compromise your privacy? What about fair housing rules and regulations?  What vulnerabilities might a landlord suffer?


The City of Atlanta is a great place to own a home. This is true whether it is a primary residence or an investment property.


The City of Alpharetta is a great place to own a home. This is true whether it is a primary residence or an investment property.