Thoughts on rental market in Austin (Canyon, West: extended stay, mortgages, house)

[ginda_78]

Hi friends

We have a house in 360 and 2222 neighborhood , but are looking to move to Great Hills ( Laurel Mtn , Canyon Vista and Westwood schools) and bought a house recently.

It would be great if we could rent out the great hills property till summer of next year so we could get a clean start before school year.

Would it be better to rent out a property for a longer term lease ( Jester) or the plan for a shorter lease term ( 10 mos for Great Hills) still be a work-able option?

Would love to hear thoughts and experiences from you all on this.

Thanks

[centralaustinite]

I'd rent out which ever one is currently empty and ready to rent!

[hound 109]

I would try to rent the Great Hills property for 8-10 months. That school track (as you know) is hyper hot & you might get some folks who are in extended stays or are just moving down that would jump at that rental. Even though October isn't a typical hot month for folks wanting to move....all you need is ONE family.

Plus it fits with your plans of moving next Summer.

Plus it will be easier to "rent" the 360/2222 home (when you move out) next summer (since folks prefer to rent summer to summer for one year).


Also, if you are wanting to do some updating/upgrading to either home prior to move in next summer.....give your self 30-60 days to do it when empty. It's a major pain to do upgrades etc. when you are IN the home. (I've done it both ways & it's worth it to bite the bullet for a month & pay two mortgages as opposed to having them do the work while you are trying to live in the home.)