Friday, March 11, 2016

Beware the Condo-Apartment

What is a condo-apartment?  A condo-apartment is a unit in a condo building that is rented with a one year rental term, or perhaps a month-to-month arrangement, or perhaps you rent it for only one night via Airbbn. By the way, plenty of Airbnb rentals in Dunwoody, maybe one on your street. I'm not aware of any city code restrictions.  Perhaps someone on city council can provide some input on the topic.  Other Georgia municipalities have recently enacted code to restrict Airbnb type rentals. 

When developers mention 'condos' or 'town-homes', most folks assume owner-occupied.  This is not the case, and proposed condos at Perimeter could be 50% rental units. A rental condo is the same as an apartment, regardless of what developers and real estate 'professionals' tell you.

At the DHA meeting on Sunday we had a man from the Manhattan tower in attendance.  The Manhattan is the very tall building next to Target, located in the Perimeter area.  The Manhattan allows for 25% of the condos to be rented.  The guy from the Manhattan is on the HOA there and he encouraged the DHA board to consider supporting only new condo towers with lower than 25% rental units. He implied that the few issues the HOA has at the Manhattan are from the renters. Currently there are many units for sale and rent there.

When and why are condos rented?  When an individual or business has debt, they usually need to make payments on that debt.  Payments require cash.  If a condo is empty, it is not bringing in cash.  If you can't sell a condo, you rent it.  The housing recession impacted many condo and HOA communities. Individual condo unit owners rent to a subtenant and developers often rent out unsold units in new buildings until buyers are found.  You can read more about renters versus owners for condos at many web sites. In summary, condo owners, condo managers, and condo HOA's prefer owners over renters.  The condo tower, like a traditional single-family home, is a close community.  Owners are more likely to invest time and volunteer at the building, and in general, make better neighbors, based on the 'research' conducted here at DunwoodyTalk.

Back to the renter versus owner-occupied issue.  Just a month ago the DHA, the city council, and other boards discussed the new town homes on Dunwoody Village Parkway.  The DHA supported a 10% limit on the number of rental units. We don't believe the DHA should support anything that is multi-family due to Dunwoody's congestion and current/future inventory of multi-family units, but if it does, a 5% or 10% cap seems appropriate.

You can read more about condos and rental units HERE and HERE.

 Sandy Springs continues to add more and more apartments. 

Monday, March 7, 2016

Fake Bank Robbery and Fake Gunfire in Dunwoody Next Week

Subject: INFO: Ashford Dunwoody Traffic Delays Wed 3/16, Thu 3/17 and Mon 3/21 from 6am - 8pm due to Movie Filming

The film company, Bambino Films, LLC, will be filming scenes for the upcoming motion picture "Baby Driver" in the Perimeter area.

The filming dates are currently scheduled for Wednesday, 3/16, Thursday, 3/17 and Monday, 3/21, between the hours of 6:00 am and 8:00 pm.

The majority of the activity will be on private property located at the building on the corner of Perimeter Center West directly across from the Exxon on Ashford Dunwoody.

Throughout those three days, the filming company will be filming scenes of a SIMULATED bank robbery, which will involve fake GUNFIRE and driving stunts on the property.

During the hours of 9:00 am and 11:30 am, on all three days - 3/16, 3/17 & 3/21 - the film crew will be temporarily holding traffic on Ashford Dunwoody Rd. between Perimeter Center East/West (McDonald's) and Hammond Dr., to perform driving scenes on Ashford Dunwoody Rd.

Please expect traffic delays during these times. The film company asks that you plan accordingly. The Dunwoody Police Department will be assisting with the traffic management and will be on site for all filming activity.

Bambino Films, LLC will make every effort to minimize the impact on the neighborhood/Perimeter area.