Austin Property Management Blog
If you own rental properties in Austin, Texas, or any other major rental city, there is a good chance you outsource your day-to-day management for your property(s). A property management company will offer resources for your property that you, as the owner, just can’t provide. They have systems in place to lease your property quickly and then insure tenant satisfaction throughout the duration of their lease. Your property management company is a third party dedicated to relieving you from the stress of owning rental properties.
When the headaches begin returning to you, you’ve got problems. The instant you even begin to have to worry about your property you’re on the track to run into some problems. With nothing short of a plethora of management companies to choose from, spending time working with a property manager who isn’t getting the job done can be a costly mistake. Here are 5 reasons you may fire your current property manager for greener pastures.
Your Property Manager is Unresponsive
Imagine you own a business and are tasked with hiring a team of employees to properly run your business. You would most definitely target employees you felt you could trust and would be responsive to you as their boss. The same goes for hiring a property management company. ...
As with any investment, everyone wants to know roughly how long it will be for them to earn their initial back, otherwise known as cap rate. It’s a term that is widely used in the real estate investing world and the higher it goes the better. Usually, when discussing the cap rate, investors are dealing with a multi-family project or commercial building, but what about rental homes? What’s a good cap rate for an investment property?
No two rental properties are the same, and there is no blanket answer for cap rate. To accurately calculate the cap rate of your investment property one must consider a multitude of external factors as well as the home itself.
Where the property is located will have a big say in how lucrative your investment will be. As they say, “in real estate, location is everything.” How strong is the rental market where you are looking to purchase a rental home? Typically, large metro markets with great universities and younger population make for prime rental home locations. By knowing where you want to purchase a rental home investment property you can begin to see the bigger picture. How much will the property cost in your chosen market? What’s the unemployment rate in the area? Median househo...
When it comes to your Austin rental properties you want the best. A rental property is an asset proven to be a great investment over time and you want to make sure it’s cared for in a way that ensures longevity, as well as income. You’ve considered your options and have decided being a full-time landlord isn’t for you and we totally understand. The instant you put occupants in the property that asset is no longer just your rental property, but also someone’s home that you must start considering when making decisions regarding you’re Austin, Texas rental property.
So you’ve decided to partner with an Austin property management company. A quick Google search reveals you have options when it comes to property managers, so how do you decide who to hire? Well, it turns out not all Austin property managers are created equal. Like any industry, you’ll find a spectrum of companies in Austin offering different services, claiming to be the #1 Austin property manager and the best financial option for you.
So what should you be expecting from your Austin property manager?
Simply put, a lot.
Property management has a lot of moving parts that need to work in unison for you to experience a stress-free time. Partnering with a dedicated tea...
According to the Urban Institute, single-family rental homes are growing faster than any other demographic of the housing market. Their research shows that the single-family rental market outpaces both single-family home purchases as well as apartment purchases.
“Young people are waiting longer to get married and have children, which can make renting more economical”, says Sarah Strochak of the Urban Institute as she expanded on how single-family rentals have risen 30% in the last 3 years.
As younger generations become more active in the housing market we should expect to see these figures climb.
The rise in renting
The 2008 financial crisis had a devastating effect on U.S. markets, especially the single-family housing market. While we’ve climbed back to traditional levels for things such as foreclosures and underwater mortgages, one thing that hasn’t recovered is the American population’s willingness to buy a home. The American dream of owning a home slowly began to wither and has gone from an investment everyone hoped to make to one that younger generations, such as millennial, all of a sudden have to question. Today, SFR’s and townhome renta...
2018 has arrived and ideally you’ve placed a tenant within the last few days on a 12 month lease and won’t have to worry about your Austin rental home for the next 12 months. That sounds ideal for a lot of us! If only rental properties and rental income were that easy.
For the upcoming 2018, put your property in hands that you can trust with Stone Oak Property Management. Your property investment is nothing to joke around with and partnering with a premium management service is in your best interest. Austin property managers do much more than just collect the rent, and handle maintenance requests from your tenants.
As we begin the New Year, maybe it’s time to consider a better property manager. Some benefits of Stone Oak:
- Property Management without breaking the bank. Stone Oak’s service charges 7% of your monthly rent without charging any of the outrageous fees. It’s a better deal on better management.
- NO CONTRACTS TO SIGN. You’re obligated to work with no one!
- Stone Oak has had 20k+ prospective tenants visit our website in the last 12 months giving your property the exposure it deserves.
- Our service is backed by 4 guarantees!
- Like dealing with a dedicated, responsive team. Owner and tenant satisfaction is our #1 pr...
While universal leases are available, such as the Texas Association of Realtors’, they can’t possibly satisfy every type of lease term and if you own properties you’ll know every lease is different.
While utilizing a universal lease form is possible, it’s imperative to note that regardless of if you hire a property manager or self-manage your Austin rental property, there will be specifics that need addressing when drafting up a lease with a potential tenant.
As a landlord, there are many factors to consider when filling a vacant rental. If you don’t think you have the time, shopping property managers and what they offer can help out big time. When owners get in a rush to fill their vacancies due to shortage in income mistakes can be made in drafting the lease. In this rush to fill the home, dire mistakes can be made in the rental agreement.
Stone Oak Property Management
14050 Summit Drive #113B
Austin, TX 78728
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