Tag: Austin Rental Property

Austin-area Home Demand is Strong, but Median Price Stalls Slightly – What This Means for Real Estate Investors

Posted on by author

 

Strong first-quarter home sales in the greater Austin area continued into April, according to the most recent Central Texas Housing Report released by the Austin Board of REALTORS®. However, the Austin-Round Rock MSA’s first quarter home sales were tempered with a stalled median home price increase of just .2% during that period. This figure is significantly lower than in the same period in previous years.

“Between 2012 and 2015, we saw price increases as high as 9%,” said Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®. “These narrower margins are a strong indication that market prices are starting to stabilize.”

Home sales volume continues to rise in the greater Austin area, and it was up 14.9% to 3,035 sales. Surprisingly, new listings were down 1.8%, but active listings increased 1%, another opportunity for Austin-area real estate investors.

Pending home sales in the greater Austin area spiked to 14.3%, while months of inventory hovered at 2.4.

According to the Texas A&M Real Estate Center, a “balanced real estate market” is defined as six months worth of home inventory. With housing supply hovering at 2.4 months, the greater Austin area remains a “seller’s market,” meaning that it is generally more favorable to sellers/owners due to a reduced supply of homes.

However, with the median home price tapering, there appears to be some stabilization and a silver lining for investors who are considering investing in Austin-area residential real estate, especially while interest rates remain low.

Regardless of your situation, TALK Property Management is always here to help, even if you just have a question about the real estate investments in the Austin area. Or, if you’re considering selling your investment property or if you know someone who is, contact our TALK Property Management today. We are always here to help.

DIY Fouls: 4 of the Worst DIY Mistakes Homeowners Can Make on Investment Properties

Posted on by author

While it may seem like a good idea to save a buck and perform investment property repairs yourself, DIY repair projects don’t always pay off, and things can get ugly rather quickly. Stay away from these common DIY mistakes that homeowners make, and leave them to the licensed repair professionals.

#1 Drywall Repairs. An extra coat of paint is no biggie, but if your investment property’s walls are in need of drywall repairs from things like cracking around windows (generally speaking, if you can stick a coin in it, there’s a problem), settling around door frames, or holes in the wall, it’s tricky to get it right on your own. Enlist the help of a drywall professional who has the tools and experience to repair the issue correctly.

#2 HVAC Repairs. Your investment property’s heating and air conditioning systems are complex, and they’re often connected to gas and electrical lines. Making a small mistake can jeopardize the system and lead to costly repairs. Hire a licensed HVAC technician to correct any problems.

#3 Electrical Repairs. Installing a ceiling fan or a simple light fixture isn’t usually a big deal. However, when you start dealing with circuitry and breaker boxes in your investment property, the potential of seriously injuring yourself or starting a fire increases dramatically. Electricians are up-to-date on all the recent code requirements, and they have the advantage of working with electrical systems daily. It may seem like a good idea to go it alone, but don’t fall prey to this DIY mistake.

#4 Plumbing Repairs. Incorrectly repair a plumbing issue, and you’ll find yourself in a lot of hot water, no pun intended. While a leaky toilet in your investment property may appear easy to fix, the problem can escalate, or there may be more to the issue than meets the eye. Because water damage is serious and expensive to fix, start at the right place, right from the beginning: hire a licensed plumber.

While it may be exciting to put on your DIY cape when it comes to your investment property, resist the urge–at least on these four important items. Spending the extra money to have a licensed repair professional evaluate the issue prevents DIY mistakes from turning into costly DIY problems.

Have a real estate or investment property question? Reach out to me anytime.

Quick Tips to Fix Up a Rental Property Without Breaking the Bank

Posted on by author

Putting a little time and effort into your rental property can easily put you above the competition. Everyone tries when they are selling a home to make it look the best it can, which means pouring lots of dollars into renovations and appliances. Investors who are looking to rent a home cannot afford extensive work and don’t have the time to wait for such work to be done. Once a property becomes available for rent, it is a race to fill the space.  We have found some quick fixes to make sure your rental property looks it’s best without cutting into your profits.

Inexpensive Kitchen Upgrades for Rental Property

Don’t be afraid of a little color to start. Extremely bold colors aren’t necessary, but adding a pop of color to cabinets that are outdated or dark can open up a kitchen and change the entire look of the room. Once the paint is taken care of, matching, modern hardware is a must and small investment in the long run. Think storage and get creative. Hang fruit baskets, put up a pot rack and add an island if you have enough space.  Add backsplash, but it is not necessary to do so all the way around the kitchen. Use tiles for accents rather than spending an arm and a leg on covering the entire wall. Invest in the floor and make certain you get something neutral, stylized and (maybe most important) durable. Consider updating plumbing to modern fixtures that can stand up to heavy use.

Curb appeal plays a big part in the appeal of your rental property, learn more here.

Improve Bathroom Appeal on a Budget

Job one: Make sure everything matches. From doorknobs to light fixtures and even down to toilet paper holders, it should all go together. Mismatched fixtures are an immediate sign of age and will turn renters off quickly. Once again, pay special attention to the floor. If water damage has occurred, replace what is there with a water and mold resistant material.  Use color in the floor, make the bathroom fun! Choose a color palette to use in the bathroom décor. Storage is important here too if there isn’t a linen closet. Try to maximize space with corner shelves and towel hangers with multiple racks. Add a frame to a mirror, either modern or ornate, but it should definitely be eye-catching.  Last, but certainly not least, ensure there is ample, natural light.

Beautify Your Rental Property with some Minor Adjustments

Clean rooms from top to bottom, checking for cobwebs and dirt on baseboards. Clean windows and mirrors and do it well! Hire a cleaning crew if you feel the need to do so, it will be worth it. Paint where it’s needed, do not leave peeling paint or half-finished paint anywhere. Clean up the back yard, as well as the front. Deep clean carpets, shine wood floors and dust everything! Make sure fixtures, doorknobs and the like match throughout the home.  A uniform look is the best way to go in any home showing situation.

With minimal spend and a bit of work, the money saved and tenants earned will be worth it! If you would like to discuss more about what TALK Property Management can do for you contact us today!

Expert Curb Appeal Tips for Your Rental Property

Posted on by author

Curb appeal done well can be the beginning of a beautiful love story, but if neglected your property can seem more like a house of horrors.

Curb appeal will make or break your listing, whether you are selling or renting your property.  Many home buyers or renters won’t even set foot inside a home if they don’t like the looks from the outside. First impressions mean everything in real estate and property rentals. In many cases your first showing is the only opportunity you get to impress your potential tenant.

With that in mind, here are a few tips to ensure you are putting your best foot forward and attracting, rather than repelling potential tenants.

Curb Appeal 101: Clean Up the Yard

We mean this as it applies to actual trash, debris or tree limbs, as well as the lawn.  Once the surface clean-up has been taken care of, cut the grass and clean up other foliage on the property.  Shrubs should be cut back according to their appropriate standards and shape.  Don’t try to get creative, no Edward Scissorhands sculptures necessary.  Make sure that you don’t cut them too far back either, you want to make sure the plants all look well maintained and appealing to anyone interested in the home so it doesn’t look like too much maintenance.

Add Attractive Color to Your Property’s Landscape

Bright, pretty and climate-appropriate flowers are an excellent way to infuse character, as well as make your property feel more inviting to visitors.  Lay mulch in flower beds and ensure that they are well defined with clean lines and defined separation from the lawn.  Add a nice border if appropriate. Be certain what you choose matches the look and feel of the property or consult a landscaping service.

We can help get your property ready for all the new Austinites that are pouring into the area every day!

Pressure Wash Sidewalks, Driveways and Siding

Details that will make your property stand out above the rest are imperative.  The more effort you put in, the more you get out of your listing.  Bright sidewalks give a fresh, new feel to a rental property and are a detail that many overlook.  When appropriate, be sure to pressure wash the outside of the building or home as well.  If you do this, just be sure ahead of time that the material you are using the pressure washer can stand up to the deep cleaning power and that you plan to do the entire home. This is particularly important with two-story homes or apartment buildings.

Curb Appeal Doesn’t Stop at the Curb, Don’t Forget the Front Door

Curb appeal isn’t all about plants and sidewalks. The front door is one of the first things one notices when approaching a property. You want the door to be inviting. This can be attained by re-painting or staining the door, as well as adding modern hardware.  Find a fresh spring color for the additional pop that will make your property stand out. The rest of the day visitors will be walking around other showings fondly saying, remember that one with the green door?  For an additional standout detail you can add seasonal, tasteful décor like a small wreath or sprig of fresh herbs to the door.

Final Touches for Optimal Curb Appeal

Clean windows inside and out.  Pressure washing won’t be enough, but is a good start.  Find some glass cleaner, get out a dust rag and put some elbow grease into it. Set out potted plants and outdoor furniture where appropriate. Update outdoor lighting with modern fixtures. Make sure the lights are working and that all the bulbs are the same color and wattage. Last, but not least, check to see if the house numbers are visible from the street.  Give everything a quick once-over and take photos while the property is at it’s best.

Learn more about the property management options in Austin available to you.

Curb Appeal Starts Online

When listing your property online, make sure that you have the most appealing photos of the outside of the home.  Do not take photos before you have fully completed all of the above-mentioned projects.  As hard as it may be to wait, the best time to take photos is once the last detail has been accounted for.  Maintenance is a must, because once your images go up online, this is the home people will be looking for when they come to check out the property.  Remember that pop of color on the door?  It has another great function; making your property easily identifiable. Keep things clean and fresh for your visitors who already have expectations in place before they ever set foot on the property.

As the saying goes; “You only get one chance to make a first impression.” When you follow these tips, you can be sure you will leave a lasting and positive impression on each person that encounters your lovely property. Contact TALK Property Management today.

TALK Property Management is a Company You Can Trust

Posted on by author

What makes TALK Property Management/Broker Different?

TALK Property Management/Broker is a full service company that puts your needs first. We are always just a phone call or email away. Ours is a company you can trust and rely on to take care of your investment and treat your tenants with respect.

TALK Property Management’s staff is knowledgeable, professional and courteous. Communication is very important to us. Whether your are an owner or a tenant, we keep you informed.

Our services include:TALK-Property-Management-Meaning

  • Monthly Accounting Reports
  • Automated Owner Distributions
  • Owner Portal with WebCloud Document Retrieval and Notifications
  • Multi Media Marketing and Leasing
  • Regular Property Inspections and Texas Property Code Compliance
  • Inexpensive Maintenance/Repair Vendors
  • Comprehensive Tenant Screening (Credit, Rental History, Criminal Check, Income Verification)

Give us a call and Let’s TALK! or click here to sign up for a free consultation.

Texas, It’s Finally Time to Winterize Your Home!

Posted on by author

We thought it might never happen, but the cold is here, which means if you’ve been putting off winterizing your home because of the warmer weather we’ve been experiencing, it’s time to stop procrastinating. Not only will these tips help keep the cold at bay and your home nice and toasty, but they can help reduce your utility bill as well.

• First thing’s first, make a checklist by taking a survey around the house of problem spots.

• Flush your water heater. Sediment can build up in the bottom of your water heater over time which can affect its performance. You can flush water through the drain valve to clear out material. For a step-by-step video click here.

• Change the rotation of your ceiling fans. Remember that reverse switch? It’s time to use it. Make sure they are moving in a clockwise direction in order to direct hot air from the ceiling to the floor.

• Remember to replace filters for your central air and heating system. This a small thing that can save you lots of aggravation.

• Here’s a trick for insulating your windows you may not have been aware of…window insulation film. This inexpensive film comes with a kit and can keep a significant amount of heat from leaking out of your windows.

• Under the door draft guards can work well to keep drafts from exterior doors at bay. They aren’t always ideal if you have a lip to get over when the door is closed, or they can be tough when there is carpet to deal with. In those cases, a towel blocking the bottom of doors with less traffic or overnight can help as well.

• Weather-stripping is one of the easiest ways to seal doors and windows. It comes in different thicknesses and in convenient rolls as tape.

• If you don’t already have one, invest in a programmable thermostat. If you do already have one, use it! Programming cooler settings while you are away at work or on a trip can save you money, and you can still ensure you walk into a warm house by the time you get home. Because, really, who doesn’t love the feeling of walking into the warmth from the freezing cold?

• Chimneys, which aren’t used much if at all around Central and South Texas can be a major source of chill and wasted heat. You can plug it up with a chimney balloon which will keep drafts from sneaking in. Make sure you’re not going to be using it first. Chimney balloons should only go in inactive chimneys.

• Cover pipes if a freeze warning occurs. Pipe covers can be found at many stores and can be a lifesaver when it comes to saving money and aggravation over the winter.

With these handy tips, we hope you have a warm and cozy home all winter long. Winterizing is less extensive around these parts than in other areas, but it still pays to take the time to care for your home!  If you’re a property owner looking for a great property management company, contact TALK Property Management today!

Don’t Do it Alone: A Property Manager Makes Your Life Easier

Posted on by author


Whether you are an individual owner or an agency, managing your own properties is an exceptionally daunting task. You may be unaware of all the time, stress, financial administration and paperwork that a skilled property manager can take off your hands. On the other hand, you may be reading this because you have already ventured in to self-management and realized that it is time to get some help. You’re in luck! TALK Property Management is here to teach you about what property management can do for you.

Property managers are your ambassadors.

They handle situations that arise with tenants as they occur. A good property manager not only takes care of tenant needs in a courteous, professional and timely manner, but keeps the property owner apprised of any and all issues, as well as their resolution. Keeping tenants happy with the service they receive is a main point of property management. Happy tenants = long term leases.

Property managers conquer the digital realm for you.

Do you have time to post on Instagram, Facebook, Twitter, Pinterest, Periscope, YouTube, LinkedIn and the like? Are you confident in the digital advertising space? What is your email marketing reach? Do you know what keywords will perform the best, which social networks work for you, how to target your audience demographics online or what SEM and SEO mean? No? When you hire a property manager, you don’t have to. Property managers in the digital age make sure they can work as hard for you online as off.

At TALK Property Management, our focus is YOU. The services we can offer you will make your life easier and ensure you are getting the highest exposure to top quality tenants. Once they are in the door, TALK will help you keep those excellent long-term renters happy with awesome and swift service. Click here to contact us today for a free property management consultation and let’s TALK.