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Fearful of foreclosure, more Georgia residents are renting Atlanta, GA

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Fearful of foreclosure, more Georgia residents are renting

driveway of a detached house

With the constant reports of falling home prices, predatory lending, and foreclosure fraud, it is not surprising that once and future homeowners in Georgia and throughout the country are choosing to rent apartments or houses instead of buying them. In a new survey of landlords and property managers, about half of respondents reported an increase in rental applicants moving into apartments after losing their home to foreclosure or having their apartment building repossessed.

The survey, which was conducted by credit reporting agency TransUnion, polled approximately 1,000 small property managers, each with no more than 200 rental units, and about 170 large property managers with more than 200 rental units each. About 47 percent of the respondents stated that they have seen a significant increase in rental applicants moving into apartments from foreclosed rental units or homes.

In addition, the majority of survey respondents stated that they have not had trouble finding renters even when they have increased the rent on their units. Approximately 65 percent of large property managers and 35 percent of small property managers reported that they have recently increased the rent on their properties from last year. However, 57 percent and 69 percent of large and small property managers, respectively, also reported that they have had no difficulty finding renters despite the increases.

One issue reported by survey respondents is the increased difficulty of finding qualified rental applicants. About one third of large property managers reported trouble finding applicants who could pass a credit check, possibly due to a foreclosure, bankruptcy or other financial difficulty.

Source: Collections & Credit Risk, “More Consumers Rent Due To Foreclosure: TransUnion,” 27 June 2011

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

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Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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