Inflation is here and currently at a 40 year high. The big question is how will it affect property owners in Georgia?
As with any other business, rising costs will affect landlords and they will have to pass along those rising costs to renters.
In this article, we will break down how inflation is going to affect owners and how those rising costs will affect both landlords and tenants.
Fuel
With gas pricing continuing to increase, landlords will be charged more for fuel costs because contractors, service companies, and other companies will be charging more to come out to rental properties.
Parts
Besides rising fuel costs, landlords will also be faced with longer wait times to get the parts that they need and more expensive parts as a whole due to supply chain problems.
Taxes And Insurance
Even though we’re experiencing inflation, property values are also increasing as well and this means that landlords are also paying more to insure their rental properties.
What To Expect In The Coming 6-12 Months
With inflation being here to stay, potentially for the next 12 months or longer, some landlords may likely be cutting services and delaying repairs or improvements at their rental properties just so they can avoid raising rents.
Higher property taxes and insurance may also mean that more people postpone their decision to buy in the Atlanta area and stay in the ATL rental market, potentially rising rents even more.
Contact JD Homes
At JD Homes, we specialize in single-family and multifamily property management for the Atlanta area.
To learn more about the property management services we can offer you, contact us today by calling (770) 506-2630 or click here to connect with us online.
