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?
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
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!!!
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
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.