 |
 |
What to do at renewal time?January 15th, 2010 | by Green Light LocatingIs your apartment or condo lease up for renewal? Unsure whether to stay or go? For all of our clients, we encourage them to call us when renewal time comes around. We’ll gladly help you assess the deal you’re being offered (by the landlord), and help you renegotiate your lease if you’d like to stay. The market might have changed, and you need to know if you’re still getting the best deal. We’ll give you the language & the phrasing you need to counter or justify your renewal, free of charge as always. You might think it’s counter intuitive for us not to pluck you from your current place & lease you elsewhere, just thank us in terms of referral business. We’ll always be there to answer your questions about your lease, and we’ll be there to help your friends too. We even send you a $50 Visa for the referral! There are times when it’s financially prudent to stay put, and there are times when it’s a beneficial to move. The market changes, and it’s really changed recently! What should you do? CALL US! 512.358.4111 Tags: apartment questions, apartment renewal, apartment rental, housing help, housing questions, lease help, lease renewal, rental advice Austin Apartment & Housing Market OverviewJanuary 4th, 2010 | by Green Light LocatingIs your lease coming up for renewal?
You’re in luck! There hasn’t been a rental market like this since the early part of 2000, and that’s longer than most can remember. Apartments and houses, anything for rent, is cheaper than it has been in a long time! The only certainty seems to be that nobody is immune from the market’s ”resetting”.
I’ve heard numerous agents say, “it’s a new market”. The prices are down, the specials are tremendous, and the property might even be brand new.
Why, you ask? Clearly, Austin is impacted by the national economic slowdown, but we’re both insulated and behind the curve, and we’re called “the first city to recover”! Our falling rental market is explained with the economic models of supply and demand. Supply has seen a run-up with new properties all over town, with the 78701 zip code seeing the biggest increase. Any time we have an abundance of properties coming to market, it takes a bit to absorb. Add to that the national slowdown, and you have a stagnating effect. Demand has been affected by a national slowdown. Locally, our impact has been felt through a range of industries, from the car dealerships and the computer processor chip manufacturers like AMD, all the way down their supply chains. They aren’t bringing people in from out of state at the pace they were in the past, and Austin’s growth has ratcheted down from a geiser to a common water feature.
When will it correct? September is commonly a slower month for Austin’s real estate rental market. School is in session, and all of the students have settled in for the semester. Labor day follows, and nobody is thinking about moving, yet. Typically, the first 2-3 weeks in September are great times for vacations for agents. This year, you could take off September and October and not have missed much. November has given us some hope, with ringing phones and leads from out-of-town relocation, but we’re not out of the woods yet.
The great deals for the prospective tenant will be good for the next 6 months, minimum, and the agents should see a vibrant early spring. For agents, Austin apartments & houses should be on track again by mid-to-late spring, and see a return to normalcy by May, as far as volume of buissiness. The high apartment prices of 2007 and 2008 won’t return for at least a year or two.
We’re keeping our fingers crossed!
Tags: apartments and houses, austin apartment, Austin apartments, austin rental, cheap austin apartment, condos austin, downtown austin rentals, houses for rent, rent austin, rent austin apartment, rental houses, townhouses for rent Hello world!June 16th, 2009 | by Green Light LocatingWelcome to WordPress. This is your first post. Edit or delete it, then start blogging! Posted in Uncategorized | 1 Comment » |
