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Old 12-10-2021, 07:31 PM
 
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Well, as I suspected, my tenant at my condo just let me know they’re moving out to Lakeway, so I started looking around at similar rentals and it looks like rates have stayed pretty stable over the past couple years.

Anyone else seeing that in Central Austin (other than the crazy towers).
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Old 12-11-2021, 05:02 AM
 
Location: Austin, TX via San Antonio, TX
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I hope so. My lease is up for renewal in February. (I’m in bougey southeast Austin).
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Old 12-11-2021, 06:06 AM
 
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Thanks. This will be the first time I’m advertising this unit and not renting it to someone I know so I’ll probably bump it $200 and still get flooded with applications from students. (Really close to UT and has a garage). Hopefully that market is flattening out for you too! A few years ago when I went to rent it out I couldn’t believe how much rents had risen in my area.
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Old 12-11-2021, 09:42 AM
 
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Quote:
Originally Posted by TX Rover View Post
Well, as I suspected, my tenant at my condo just let me know they’re moving out to Lakeway, so I started looking around at similar rentals and it looks like rates have stayed pretty stable over the past couple years.

Anyone else seeing that in Central Austin (other than the crazy towers).
I doubt it? Property values in Austin area jumped 30-35% in 2021... first the property values go up, then the rents follow.
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Old 12-11-2021, 09:55 AM
 
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Originally Posted by Jimmyp25 View Post
I doubt it? Property values in Austin area jumped 30-35% in 2021... first the property values go up, then the rents follow.
It seems like there’s a lot more supply than 3 years ago. If I run a quick search on rentals, there’s at least double what there was back then - albeit mainly apartments.

Yeah, the rent is going to have to follow a little bit. My property taxes are up close to 50% on that place, and I’m going to replace the carpet between tenants. I was hoping to stretch it a couple more years but I don’t think that’s viable.
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Old 12-11-2021, 10:52 AM
 
Location: Austin, TX via San Antonio, TX
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Quote:
Originally Posted by TX Rover View Post
Thanks. This will be the first time I’m advertising this unit and not renting it to someone I know so I’ll probably bump it $200 and still get flooded with applications from students. (Really close to UT and has a garage). Hopefully that market is flattening out for you too! A few years ago when I went to rent it out I couldn’t believe how much rents had risen in my area.
I got lucky in that I signed the lease right at the start of covid, maybe like three weeks after lockdown. And I was in a new complex so they were trying to fill it in. It’s since bounced to like 98% occupied and my unit, last time I checked, is going for about $350 more then I’m paying now. I’m looking into a few new professional opportunities that would take me a bit further north in town and I wouldn’t be opposed to paying less to be closer to wherever the next adventure is. But, $350 more is going to be a hefty increase for me. I’m hoping things do stabilize.
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Old 12-13-2021, 10:22 AM
 
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Based on this market research report by Realpage.com, things should improve in 2022

https://www.linkedin.com/search/resu...EFAULT%2Cfalse)

Austin is second only to NYC in new apartment construction permits for the period ending October 2021, up 39%.
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Old 12-13-2021, 11:18 AM
 
Location: Texas
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We moved into an apartment in Leander in August. We had signed the lease in June. Before we moved in, the rents had gone up $200 for the same floor plan. Now it’s up to $280 more than when we signed.
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Old 12-13-2021, 11:54 AM
 
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Originally Posted by TomG555 View Post
We moved into an apartment in Leander in August. We had signed the lease in June. Before we moved in, the rents had gone up $200 for the same floor plan. Now it’s up to $280 more than when we signed.
Geez. For Leander?! I wonder if it’s a lack of supply and people moving to apartments waiting for their new build?

I was renting for 2400, probably going to list at 2750 and offer a 5% discount for a 2 year lease. I’be got 2 years left in DFW and then I’m moving back, so I’d love to not have to swap tenants again during that time.
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Old 12-13-2021, 12:11 PM
 
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Quote:
Originally Posted by TX Rover View Post
Geez. For Leander?! I wonder if it’s a lack of supply and people moving to apartments waiting for their new build?

I was renting for 2400, probably going to list at 2750 and offer a 5% discount for a 2 year lease. I’be got 2 years left in DFW and then I’m moving back, so I’d love to not have to swap tenants again during that time.
Possibly, new builds are taking a very long time due to material shortages. I've heard a few builders estimate to their buyers that they won't even be able to begin construction for a year or longer due to their backlogs.
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