How Easy Is It to Rent a house in Austin just South of Oltorf (West: rentals)

[harryw]

We are from NYC and my wife and I are thinking of purchasing a house and renting it out before we move down in a few years. How easy is it to find good tenants in the area just South of Oltorf and West of South 4th? Thanks for any advice

[ResidentialAustin]

That really depends on the house and the exact neighborhood as well as the rent price. But I can say that I showed rentals all weekend long and everyone wanted to be in that area. Some of my clients could afford it and did rent very near there and some others found it too expensive. All in all I think if you buy the house and get a reasonably good deal you shouldn't have a problem.

[austin-steve]

Originally Posted by harryw

We are from NYC and my wife and I are thinking of purchasing a house and renting it out before we move down in a few years. How easy is it to find good tenants in the area just South of Oltorf and West of South 4th? Thanks for any advice

I've been renting homes in Austin since 1990, and the rules of thumb never changes. Closer in always rents better, especially when the rental market goes soft.

That said, condition and price trump everything. No matter how great your location, if the home has obvious condition problems and is over-priced, it will either sit vacant, or you'll attract scrubby tenants who care less about the condition than you.

Don't expect the rent to cover carrying costs in the 78704 zipcode unless you put down about 50% down payment.

Steve

[harryw]

Many thanks for your responses. If it's two blocks South of West Oltorf is that considered close enough? Thanks, Harry