Property management is a real estate niche, just like lakefront property is a niche and luxury homes are a niche. I don’t spend my time trying to sell farms and ranches or oil leases or $10 million lakefront properties. I want to stay in my niche, which is property management. All of us at Austin Landmark are licensed Realtors, and most of us are landlords ourselves. We can buy and sell any real estate in Texas. Our specialty, however, is property management. We’re not trying to hustle sales. We come to the office every day working for you. Read more
Today, I have some advice for landlords who are frustrated because their property manager isn’t calling them back. Communication is important, and you hire a property manager so you know what’s going on with your property. Having a professional manager means you can do other things with your life and not worry about your property. Read more
Does a landlord have to change locks between tenants? Yes. If you don’t already know, you have to change your locks at your rental property between each occupant. This doesn’t mean just rekeying the locks between each tenant. If you have a short-term rental or you have a vacation house that you live in sometimes and rent out at other times, you need to change the locks every time someone new occupies the home. Read more
There is a lot going on in the Austin rental market, and today I am providing a market update. We’re also going to talk about how to navigate a challenging market. I have some statistics that I don’t want to bore you with, so I’ll give you the bottom line: we’re in a competitive market right now. It’s not oversaturated in all areas, but the supply is exceeding the demand in several areas. This is leading to above average lease times. Read more
According to a recent article in our local paper, the Austin American Statesman, the job rate in Austin and our surrounding cities was 3.3% in 2016. This is really great news but the article pointed out that this figure was off a tad from previous years. Payroll increased by 3.8% meaning that employees are earning more money. All of this bodes well for us investors in residential rentals as it means that our area continues to grow and attract both employers and employees who need housing. And since housing is still in short supply here, and since interest rates have increased and look as if they will continue to increase, coupled with the increased price of homes making saving for down payments more difficult, it looks like renting is the option for our new transplants. When you factor in that many people are “choosing” to rent vs. buying a home, such as retirees and minerals, this is driving the average rent price upwards.
Looks like the good times will continue to roll on for us – especially if you own Austin area rentals.
Rick Ebert / Austin, Texas / 26 March 17
Partnering with a professional property manager will help you convert your short term rental to a long term rental. Today, we’re talking about the process and sharing three tips to make it more efficient. Read more
Here in Texas, you do not have to allow pets in your property, and there is no limit on the deposit you can charge someone moving in with a pet. At Austin Landmark, we restrict size and breed when it comes to pets. Most of our properties do accept pets and we encourage landlords to accept pets unless there are circumstances like you’re terribly allergic to cats and you might move back into the property one day. Some natural hardwood floors are also very susceptible to dogs and cats. And, some landlords have had terrible experiences and don’t want pets. So there are times when we do say no to pets. Read more
At Austin Landmark Property Services, we manage around 500 properties, which results in a lot of property maintenance services. That means we develop and maintain relationships with good vendors to make sure all repairs are made correctly and affordably. Today, we’re talking about those relationships and how to partner with vendors to succeed with your rental property. Read more
Mike Gonzales is awarded the Austin area chapter of NARPM® “Member of the Year” award by chapter president Michael Ebert. Mike Gonzales’s was cited for his contributions and continuous support to the Austin NARPM® chapter and to his unfaltering assistance to the chapter president. Mike Gonzales stated that he was both surprised and honored to be the recipient of the award.
This year Mike Gonzales is the president of the Austin NARPM® chapter. As incoming president he takes the reins from outgoing president Michael Ebert. Austin Landmark Property Services, Inc., CRMC® is proud to have on their staff such dedicated professionals who promote the highest standards of excellence to be found in our industry.
Rick Ebert / Austin, Texas / 6 Jan 17
This was the headline in a recent post in REALTOR Magazine this week. There were several reasons cited in the article. Leading the list among them were increasing regulations regarding building. The article stated, but did not identify what kind of regulations were adding to the cost of building new homes but the cost was estimated to have increased to 29% of the cost of construction over the last five years. I assume this means not only implementing the regulations but also finding the hardware and training craftsmen to make the changes through trail and error. These costs can include building around trees, impervious cover, set back requirements meaning less land to build on, the height of door handles and light switches all of which have to be designed and then implemented, and the list goes on and on. Additionally builders are citing the lack of suitable labor and the increasing cost of lots to build upon.
My take on all this means that if you own a residential rental right now that you are in a good place. Take all of the above, now factor in the rising interest rate and probably more to come, and the lack of folks to save for a down payment, and you have a lot more people needing to rent vs. being able to buy a house. Now add in the millennials who have a penchant for “wanting to rent” as a life style choice vs. having to rent, and this throws more prospective renters into the market. So with a shrinking inventory or rentals, say in the Austin area, and a bunch of folks moving here to take jobs, coupled with the millennials and with those who can’t afford to buy a house and you get rising rental rates.
Just a few good reasons for owning Austin area residential rentals!
Rick Ebert / Austin, Texas / 23 Dec 16