Blog about the Texas rental market and a little more. | ||
Austin Rental Rates Updateblog~simplesearchapts.com March 8 2011 10:27:43 AMWe touched on the fact that Austin rental rates are on the rise a few months ago. Here is an article by KVUE.com that reinforces that fact.http://www.kvue.com/news/local/Austin-apartment-rent-soaring-higher-and-faster-than-any-other-Texas-city-117443614.html
Agressive Breed Dogs and Apartmentsblog~simplesearchapts.com January 7 2011 11:32:04 AMMany people are animal lovers. But, when it comes to living in an apartment, certain concessions have to be made. There are policies in place for having pets. One policy that seems to cause the most debate is the aggressive breed list. Dogs on this list could include German Shepherd, Rottweiler, Pit Bull, Chow, Boxer, Dalmatian and a few more.
Owners of an aggressive breed often attest that their dog is the “best” and “most gentle” dog you have ever met. That may be the case. But, these dogs have a reputation for a reason. That is why many properties ban aggressive breed dogs.
So, what do you do if you own an aggressive breed dog and you need a place to live? First, you can try to find an apartment that will accept your dog. This may be slow going, as more and more properties do not allow for aggressive breeds. A smaller property or owner managed investment property like a duplex or single family house may be a better option. You may be able to find an owner that is open to such breeds.
Recently, this question has come up a few times. “How do other people in apartment complexes get away with keeping an aggressive bred dog on property? I see them all over the place. “ Well, most likely, the owner of the dog has not informed the property manager that the dog is on property. As we know, it is highly likely that the aggressive breed is not allowed. This renter is running the risk of violating the lease.
A lease violation is not something to be taken lightly. The renter has to understand that they are in the wrong. If caught, they have to be prepared to face the consequences.
If you know that you may be renting, I would avoid getting an aggressive breed dog.
Austin Rental Rates on the Riseblog~simplesearchapts.com October 26 2010 10:21:36 AMAustin is experiencing a stabilization in the rental market. Occupancy rates are going up. In fact, this is the largest one year occupancy jump since 1998 .There are a quite few properties that are basically full. In response to this trend, rental rates are increasing.
The average rate increase is 2%, with some areas are seeing increases of up to 8%. These percentages are significant. This may come as surprise to many renters. Many renters believe rates should be lowered, or at least stay the same. We are still in a recessed economy, right?
Well, the Austin is attracting more renters with recovering job growth. Properties are filling up. There are also fewer newer properties opening up, compared to the last few years. Construction has slowed from the heyday of a couple of years ago. So, with fewer new units to choose from, renters must choose from the available pool of properties.
The bottom line is that occupancy rates are on the rise. Renters can expect a rise in rental rates.
The new way many rental rates are set.blog~simplesearchapts.com June 8 2010 08:27:41 PMOn the last post, we
touched on how properties set the rental
rates. More and more properties are using rent optimizing programs like Yield
Star. I understand the benefit to large property groups. You can see the
justifications by Yield Star by clicking here.
Programs like Yield Star reconfigure rates daily. The price
can, and often does, change on a daily basis. Now, my concern is how these types of programs effect the
renter. We no longer see the “move in special” because the rates are already incentivized
by the program. So,
according to properties, you are already getting the best deal and the lowest
rate. What they do not want you to know is that you are not always
getting the best rate. Since rates change so quickly, how can you ever know? The
changes in rate are based on move in date, lease term and number of like units
available to lease. Any change in any one of the factors can change the rate significantly.
So what does this mean to the renter? Well, it definitely
complicates things. The leasing agent will tell you that you are “getting the
best rate” and that “specials are built into the price”. That is not always the case. For example, if
your target unit is move in ready now, and you do not want to move in for 2
weeks, then you can expect to pay a lot more for that unit. That is how the
program works. It charges more for units
the longer the move in date is from the 1st day of availability. That is just one
example of the flaws I see in this program. Granted, I have a different perspective. I am an advocate for
the renter. I do not care about maximizing the bottom line of the property. I care about finding a good deal for our
customers. The reality is that these types of rent optimizing programs are in
place to benefit the property owner. This change in the rental scenery increases the importance
of using a professional apartment specialist or locator. A good apartment
locator has information on market trends, comps and can see the big picture. There is no way the “average Joe” can completely understand
this shift in the rental market. Renting an apartment without the assistance of
a professional locator is just silly. So do yourself a favor, get a hold of a qualified apartment
locator the next time you need a new apartment.
Move in Specialsblog~simplesearchapts.com May 7 2010 12:19:39 PMThe rental market is competitive with hundreds of properties
vying for your business. Some properties use rent optimizing programs that
build in the incentives into the pricing. That means they do not offer “1 month
free” deals. The savings are already built into the pricing with reduced rents.
Pricing can, and does change often with these programs. So, if you get a quote
from a property, be sure to ask them how long the quote is good for. Some properties still use “look-n-lease” specials as extra
incentives. These incentives can include free rent or reduced move in costs.
However, these extra incentives generally come with a time restriction. The
property will ask you to make a decision within a certain period of time, usually
24 to 48 hours after your initial visit. So, it is important to understand what
type of incentive is being offered and if you have a time limit to decide on the apartment. It would be a shame to
leave some money on the table by deciding to take an apartment after the
special has expired.
Washer/Dryer Provided vs Renting Washer/Dryerblog~simplesearchapts.com March 29 2010 12:48:33 PMMany people prefer to have a washer/dryer in the apartment.
It makes sense. Going to a laundry can be a hassle and the cost per load adds
up quickly. The simple convenience of a washer/dryer makes it one of the top priorities
for many renters. Some properties offer a washer/dryer with their apartment. This extra perk may be one of the deciding
factors when choosing between properties. Renters should be aware that you can also rent a
washer/dryer. A few companies offer this
service. They deliver and install the set. Often times, there are no long term
contracts. They will remove the set when you no longer have need of renting. This
cost is around $30. Keep this number in
mind when comparing properties. If you factor in this cost, you can make an
apples to apples comparison.
Background Issues?blog~simplesearchapts.com February 24 2010 12:23:47 PMSo you need a new apartment and have a few issues on your background.
Some folks have credit issues from student loans, medical bills, credit card
defaults or bankruptcy. Some may have rental history issues from a broken lease
or eviction. Some may have issues proving income, whether it is from tipped
earnings or some other undisclosed and untaxed income. Some people have a
criminal record. Well, an apartment locator can help. Part of the process for
all locators is to inform customers the qualifying process for rental
properties. This includes going over rental history, income requirements,
credit criteria and criminal background. When your locator asks if there are
any issues on your background that may raise a red flag, be honest. Do not hold
back any pertinent information. If you do, it will come up in the qualifying
process. It may lead to a rejected application. This will cost you time and
quite possibly money from any application fee. So, be upfront on any background issues. A fully informed
locator can avoid properties that will decline you based on your particular
issue. Some properties are less strict on credit. Some properties work with broken
leases and evictions. Some properties work with criminal background. There are options in the rental market. Your apartment
locator will help find you the properties that best match your own particular
rental needs. Just be sure to be honest about any background issues. It will
save you time and money.
Lower Rental Rates in the Recessionblog~simplesearchapts.com December 15 2009 11:34:56 AMWe are still in the middle of a recession. Everyone is
feeling the pinch. However, there is one small positive to economic downturn.
Rental rates in Austin have dropped. In some cases the drop in rates has been
significant. Now is a good time to get some of the best rates in years. If your lease is coming up for renewal, you may want to
check out the rental market before renewing. There are some fantastic rates in
Austin right now. Plus, most properties are offering incentives to move in. One
month free plus reduced rates is not uncommon. Check with your Austin apartment locator to get a better understanding
of the current market. It may be beneficial to relocate to another property. At the very least, use the current market to negotiate your
renewal. There is no reason for your renewal rate to increase. Some properties
may even reduce your rate. It is worth taking the time to educate yourself on
the current market. Then, you can make an educated and informed decision on
what the best option is for you.
Austin Apartments Updateblog~simplesearchapts.com October 15 2009 08:19:05 PMThere are a lot of empty apartments around town. I have spoke with quite a few management companies and they are running great deals right now. If your lease is coming up for renewal you definitely need to shop around and see what's available before you re-sign you lease. I hope everyone is doing well.
It’s hot our there!blog~simplesearchapts.com August 21 2009 06:20:07 PMIt is hot out there, and that should be one reason to think about your utility bill. I have been showing a lot of apartments in Austin recently and I have telling my clients to think about there utility bills. Make sure you try to get an apartment that my be surrounded by trees. This will help keep the air conditioner from having to work so hard. First floor and second floor apartments also tend to have a significantly lower utility bill. Another tip is to consider paying more in rent for a newer community, because the difference in the utility bills will make it worth it. Just a few things to keep in mind while you are looking for Austin apartments.
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