Taking stock of long-term rentals in Austin

Taking stock of long-term rentals in Austin

Realtor · Austin, TX · Member since 2020 · 53 posts · 27 votes

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?

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Real Estate Broker · Austin, TX · Member since 2015 · 715 posts · 527 votes
5y

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 

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  • Redmond, WA · Member since 2017 · 134 posts · 65 votes
    5y

    Like you, I haven't noticed anything related to hardships. In fact, I just increased rent by $100 on new lease, found renters to occupy 2 days after the former tenants left. If anything, I'm seeing that the quality of applicants are higher.... the 5 families that applied all had credit scores above 750!!!

  • Real Estate Broker · Austin, TX · Member since 2015 · 715 posts · 527 votes
    5y

    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 

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    5y

    I have also had no issues with quickly leasing or collecting rent

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    5y

    I own 29 units and haven't had any issues with any of them and I'm in 2 different states

  • Realtor · Austin, TX · Member since 2020 · 53 posts · 27 votes
    5y

    Thank you guys! Helpful info

  • Redmond, WA · Member since 2017 · 134 posts · 65 votes
    5y

    Anytime Lynn!  Also belated welcome to this forum and we hope to see you here more often! 

  • Rental Property Investor · Dallas, Austin · Member since 2018 · 246 posts · 213 votes
    5y

    The same for me!  No issues here. If anything I think I’m going to have the latest  tenants not wanting to move anytime soon.  This year we will continue to see a low inventory not just for homes on the market but also for apartments.  

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