Taking stock of long-term rentals in Austin

[Lynn Wise]

I've been getting lots of questions from investors and potential investors about how COVID is affecting long-term rentals in Austin. I know many investors are looking for long-term appreciation, so they are less concerned about cash flow in Austin. But that doesn't mean they'd be ok with $0 rent! We haven't had any issues with non-payment in our rentals. Interested to hear what types of issues other landlords are facing? Also curious about different property types (SFH vs. condo, etc.). Landlords near downtown/UT, have you noticed a shift? Anybody changed up their strategy because of market changes?

[Neil Narayan]

The last 2 units I listed leased out in less than a week with multiple applicants. Out of the 50+ investor clients I have none of them had any tenants that defaults on rent