Local amenities (or lack thereof) can affect your ability to find and keep tenants in your Austin area rental property, and it can also impact your monthly rents. In other words, it’s important to not only consider the quality of the rental property when examining a potential investment, but also its neighborhood and proximity to things like dining, shopping, schools, and main roads. Let’s take a look at the most advantageous amenities for your rental property.
- Schools. Classified as one of the most critical factors in a housing decision, schools are a crucial part of your investment analysis, just as they will be for your tenants also. Be sure to examine the higher education opportunities near your investment.
- Dining and Shopping. Easy access to restaurants and retail makes an investment property more desirable because it makes it easy for your tenants to efficiently and economically acquire goods and services. Proximity to dining and shopping may also be a good indicator of potential future appreciation in value.
- Public Transportation. While many of us are becoming accustomed to working from home, the commute is still an essential factor in making a housing decision. Is public transportation readily available? Our population is increasingly embracing sustainable lifestyles and reliable public transportation factors into that demand.
- Neighborhood Amenities. Pools and walking trails are particularly popular in the greater Austin area. Still, other amenities such as dog parks, fishing lakes, and disc golf courses are gaining traction when it comes to sought-after communities. Does the neighborhood around your investment property have these types of amenities?
- Healthcare Facilities. Access to physicians, hospitals, and other healthcare facilities is incredibly important when considering any real estate investment, and particularly so if your tenant pool includes families with children, retirees, or the elderly.
Determining what rental property is right for you encompasses many facets, including the availability and quality of nearby amenities, both immediately within the neighborhood and in the greater community. If you have questions about real estate investing in Austin, reach out to me anytime; I’m always happy to help and answer questions: (512) 721-1094 or email@example.com.