Today we’re talking all about rent, and we’re looking at it from two different aspects. We’re going to look at it from the perspective of the tenant and also from the landlord. Let’s start with tenants. What will renting continue to look like for you? What do future rental prices look like for you?
Right now here in the Austin area it could make sense to continue renting. With insurance, property taxes and mortgage rates, it could be smarter to continue leasing. But, let us run those numbers for you. What you don’t want to do when making financial decisions is to guess. Having those numbers laid out in front of you so that you understand the cost of purchasing and the cost of renting is important. This leads to investors, and it’s really no different. All you landlords out there, we work with many on a regular basis, and many are not looking at their return. Many have owned their properties for years or maybe got caught on the appreciation upswing and are now letting the property roll versus looking at the best return they can get on their investment.
For many of our investors we’re looking at the market rent to ensure they’re charging what the market rent is, and when the lease is over to understand whether they should increase the rent. We’re also looking at what their return is. Right now it’s possible to get a decent return in a savings account without any risk. If you’re making less return on your rent, why would you do that? Well, there are reasons you might, and we’d love to have this discussion with you.
Whether you’re a tenant, a real estate investor or you know one of them, we’d love to talk about what is going on in the market. Please let us know any questions we may answer.
