The real estate market in Columbus, Georgia can provide opportunities for those looking to invest in properties, and it has been getting increased attention from local and out-of-state investors. Every investment anywhere comes with a set of challenges to balance the opportunities, and we want to make sure you understand what you’re getting into when you decide to buy and rent out property in this market.
Let’s take a look at the best rewards and the potential risks of property ownership in Columbus, Georgia.
Opportunities in Columbus GA’s Rental Market
The good news is that you don’t have to be an experienced investor to get started in Columbus. You don’t need a small fortune to enter the real estate market, either. It’s accessible to all sorts of investors, whether you’re hoping to rent out just one home or build an entire portfolio.
Here are the opportunities that make this market so attractive:
- Growing Demand. Rental properties are in high demand, thanks to Columbus’s steady population growth. With Fort Moore (formerly Fort Benning) just 20 minutes away, the demand for housing has remained high. The rental market attracts military families, professionals, students, and retirees, contributing to a diverse and well-qualified pool of tenants.
- Property Prices. Other growing real estate markets are expensive, but Columbus offers relatively lower costs of entry, comparatively. There are affordable investment properties available, allowing investors to achieve a higher yield on the properties they own.
- Diverse Neighborhoods. Investors will find a number of different neighborhoods in Columbus. There are historic and residential areas as well as new neighborhoods near parks and green spaces.
Columbus is also enjoying a strong local economy, with sectors like healthcare, manufacturing, and defense creating jobs and attracting local talent.
Challenges in Columbus GA’s Rental Market
What kind of concerns might an investor have before investing in rental properties in Columbus, Georgia? The risks are not dissimilar to the risks that are found in just about any market. Here are some of what you should prepare for:
- Laws and Regulations. Compared to other states, Georgia is pretty landlord-friendly. You won’t have to worry about rent control or strict eviction laws. But, there are still legal requirements that any property owner must follow when renting out a property. Habitability standards will be in place. Security deposit requirements must be followed. You’ll need a strong lease agreement.
- Competition. There’s a high demand for rentals, but also a lot of competition for good tenants. You’ll need to make sure your property stands out.
- Economic Fluctuations. While we’re enjoying economic growth right now, things can change at any time, and you’ll want to make sure you’re well-prepared to deal with vacancies, dropping rental values, and economic downturns.
Making the Most of Investment Opportunities
Successful investment in Columbus GA’s rental market requires a strategic approach that balances the identification of opportunities with the pragmatism to overcome challenges.
We recommend partnering with a Columbus property manager as soon as you decide to invest. Don’t wait until you’re ready to lease your home to tenants. In the early investment stages, a property manager can help you with the properties you’re considering. We can tell you how much rent you’re likely to collect and what kind of repairs will be necessary before you can successfully rent the home out to good tenants.
We would love to work with you as you consider property ownership in Columbus, GA. Please contact us at Bickerstaff Parham Property Management.
