Tag: Austin investment property

Mixed-Use Developments are the City’s New Domain

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If you’ve spent any time in North Austin, we’re sure you’ve been to The Domain. It’s been revered as a success to many in the business community and is even viewed as a development the community has to match. 

But, just like any other story, there’s another side to consider. In fact, many people think the development was a missed opportunity. They believe the area had the potential to be a more walkable and integrated retail and business area.

The Domain has expanded to cover more than 300 acres and holds offices for some of the largest companies and employers in Austin. From Facebook to Indeed, you’ll find many employees driving in for work in this neighborhood. On top of those office spaces, you’ll find thousands of apartments and more than 1.8 million square feet of retail space. With hotels in the neighborhood as well, this mixed-use space has it all.

While The Domain continues to grow, other developers are taking the feedback on how to improve the project to heart and using it for their own designs, including one that’s coming to Round Rock! A developer wants to put in a $200 million mixed-use space near I-35 and State Highway 45 that takes guidance from The Domain.

Developers are calling the project “The District” and hope to give it a 24/7 vibe that appeals to younger demographics and will be minutes from Dell’s headquarters. The project was first proposed in 2017 and plans have started moving forward to get started on the development. It’ll be exciting to see if The District rivals the same success as The Domain and what new retailers, entertainment spots, and offices we’ll be able to find here soon! 

If this new development has made you excited or even curious about Round Rock and the Greater Austin area, give us a call! We’re always happy to talk about neighborhoods and changes to properties throughout the area.

How to Properly Manage Your Properties

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Real estate investing is a fun opportunity, but in order to make sure you’re successful, you need to be the best landlord and property manager you can be. Not sure where to begin? We’re here to help.

  1. Lease targeting – Schedule lease end dates for times when the market is going to be particularly full of potential tenants looking for a new place to live. This decreases your risk of having open spaces and no tenants to live in your properties.
  2. Plan ahead – We all know that problems spring up when we least expect them, so be prepared. Make a plan for how you’ll take care of repairs when you’re out of town and be sure to set aside 10% of your rental income for unexpected repairs and emergencies.
  3. Happy tenants are the best tenants – Make sure that you take care of any repairs promptly and that you are easy to communicate with. Keep the property in good shape and stay respectful.
  4. Have office hours – This tip goes hand-in-hand with the previous one listed. Have designated hours that you can be reached and encourage your tenants to contact you during those specific hours.
  5. Encourage good behavior – If a current tenant refers another great tenant, be sure to reward them with movie tickets, a gift basket, or a discounted month of rent to thank them.
  6. Inspections before and after moving – Document the home before a tenant moves in and after they move out, and consider going a step further by taking video logs for your records. Have the tenant document and sign off on any damages they see before moving in.
  7. Ensure you’re insured – Check with the state to make sure you have all the proper insurance needed for your properties.
  8. Make payments easy – A lot of people find that paying rent online is easier and more reliable, so look into if that may be an option for you.
  9. Competitive rental rates – Keep a pulse on what rental properties near you are charging and take into consideration your location. You want to be charging close to what others in the area are as well.
  10. Have a team behind you – It takes a village to raise a baby, and it takes another one to take care of a home. Make sure you have professionals you can count on to help you with repairs, answer your questions, and give you legal advice.

These ten steps are just the beginning to properly managing your property. That’s why we’re here! We make it easy to keep your investment secure and make sure everything is running smoothly. Take the stress out of owning multiple homes, and let TALK to do the heavy lifting for you. Give us a call or email us with any questions.

Austin-Area Home Sales Set October Record

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Despite a dip in September, the Austin-area housing market rebounded big time in October. In fact, according to the October 2018 Central Texas Housing Market report released by the Austin Board of REALTORS®, both home sales and sales dollar volume were the highest on record for any October. These record highs suggest a strong demand for single-family homes around the Austin-area and, while inventory did slightly increase around the area, there is still not enough supply to support the demand. What should you know as both a current and potential investment property owner? Here’s a look at the details:

Luxury houses in North America

  • Austin-Round Rock MSA
    • 2,347 home sales – a 4.3 percent increase from October 2017 AND the highest number of sales for any October
    • $900 million in sales dollar volume – an 8.8 percent increase year-over-year
    • $308,355 median home sales price – a 7.5 percent increase from October 2017
    • 2,871 new listings – a 3.7 percent increase year-over-year
    • 7,434 active listings – an 8.2 percent increase year-over-year
    • 2,444 pending sales – a 2.8 percent increase from October 2017
    • 2.9 months of inventory
  • City of Austin
    • 735 home sales – a 7.8 percent increase year-over-year
    • $343 million in sales dollar volume – an 11.9 percent increase from October 2017
    • $377,000 median home sales price – a 3.7 percent increase from October 2017
    • 878 new listings – a 5 percent increase year-over-year
    • 1,643 active listings – a 5.4 percent decrease year-over-year
    • 711 pending sales – a 2.2 percent decrease from October 2017
    • 2.1 months of inventory
  • Travis County
    • 1,176 home sales – a 6.2 percent increase year-over-year
    • $537 million in sales dollar volume – a 10.9 percent increase from October 2017
    • $358,540 median home sales price – a 5.5 percent increase year-over-year
    • 1,417 new listings – a 5.1 percent increase year-over-year
    • 3,374 active listings – a 1.2 percent increase from October 2017
    • 1,198 pending sales – a 3.3 percent increase year-over-year
    • 2.6 months of inventory
  • Williamson County
    • 780 home sales – a 0.5 percent decrease year-over-year
    • $242 million in sales dollar volume – a 3.3 percent increase since last October
    • $281,250 median home sales price – a 4.5 percent increase year-over-year
    • 963 new listings – a 2.6 percent decrease from October 2017
    • 2,595 active listings – a 12.2 percent increase year-over-year
    • 835 pending sales – a 2.1 percent increase from October 2017
    • 2.9 months of inventory

Do you have any questions about the local housing market? As a longtime REALTOR® and property manager in the Austin-area, the TALK Property Management Team is always here for you. Contact our team anytime!

Are you thinking about buying an investment property? We would be happy to help! Contact us today to get started and learn more about our property management services!