There has never never been a better time to lease your property in Austin, Texas! With many people migrating from around the country to this wonderful city, demand for good rental properties continues to climb. Many, “Once buyers” are looking to rent due to strict loan qualification requirements and low consumer confidence towards owning a home. Also, many people in Austin choose to be free of commitment and prefer to have flexibility and freedom and thus are reluctant to put down roots. This means more demand for rental property.
With many new jobs being created from companies like St. Jude Medical, Home Away, Host Gator, and Facebook Austin is seeing substantial population growth which will continue into the future. With many young professionals migrating for jobs from other more expensive states like New York, California, and Florida, the cost of living in Austin is relatively cheap. Austin is also home to many government employees (Texas’ capital) and University of Texas employees who may not be able to afford large down payments typically associated with home ownership.
This Austin real estate landscape is creating a perfect opportunity for property owners to rent out their Austin real estate and capitalize on these record rents. Current occupancy rates for Austin are at 94.5% and even higher in central Austin.
If you are considering selling your property in Austin, Texas, you should hold your Austin real estate and lease it out while you wait out for a better market. Contact The Carvajal Group today and learn about our leasing and property management services in Austin, Texas