Tag: Property Manager Austin

A Look Back at Austin’s Construction Projects Throughout the 2010s

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Since 2010, there have been a ton of new projects and developments springing up throughout the city. With the start of a new decade almost upon us, we thought we’d take a look back at some of the buildings that weren’t around to add to our skyline just a few years ago.

The Austonian
From 2010 – 2018, this was Austin’s tallest building. The Austonian was the true start to showing how important and lucrative high rise residential buildings can be in Downtown Austin. The skyline wouldn’t be the same without the 683 feet condominium tower.

The Independent
In 2019, the Austonian was usurped in height by the Independent, standing at 690 feet, the building became the tallest in Austin and the tallest all-residential building in the United States west of the Mississippi River. The unique design is always brought up in architecture talks for its Jenga-like look.

Robert B. Rowling Hall
The University of Texas campus is beautiful and has a huge impact on the city year after year, but the new graduate business facility is an even bigger fixture. The 497,500 square-foot building connects to the AT&T Conference Center and Hotel.

Northshore
The 424-foot building has 38 stories, 439 apartments, and is a quintessential mixed-use development. The building comes with a private lounge, pool, concierge, and a variety of great amenities.

70 Rainey
The last ten years have brought particular change to the Rainey District. The tallest of the new towers to the historic Rainey Street is 70 Rainey, and it’s sure to be one of many luxury buildings to connect Rainey to the rest of Downtown.

The last decade has brought a variety of changes, and we know the next ten years can really evolve the city dynamic and skyline even more. If you ever have questions about where we see Austin going and what the changes can bring for your investment properties, don’t hesitate to reach out to TALK Property Management at (512) 721-1094.

5 Real Estate Investment Property Red Flags

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There are a lot of excellent investment properties out there, and while there are some factors that make a property great, there are also some red flags that may help you narrow down which ones you should avoid altogether.

  1. Is the floor plan functional?
    If a home is listed as a four-bedroom home, you want to make sure that all four bedrooms are adequately sized. If one bedroom is particularly small or awkwardly shaped, it may be hard for you to find tenants for that space. You’ll also want to consider the number of bathrooms. It’s unlikely that you’ll find tenants ok with sharing a four-bedroom home with only one bathroom.
  2. What neighborhood and school district does the home fall in?
    No matter how beautiful the home, if it’s in a bad neighborhood or zoned for a school district that doesn’t have a great reputation, you’re going to have a hard time finding tenants. Is the area in a high flood zone, close to loud businesses? These are all factors you’ll want to look into.
  3. Are there structural issues and damage to the property?
    Pay attention to if a property has uneven floors, cracks on exterior walls, etc., as this can be a sign that there are bigger problems with the structural integrity of the home, which can be costly to fix. You should also be looking for roof leaks and checking under countertops and sinks in the bathroom and kitchen for signs of water damage and mold, as this can be another sign that there are major repairs that need to be made.
  4. Have you been asked to waive your right to inspect the property?
    We can’t stress this enough. If a seller asks a potential buyer to waive their right to inspect and back out of the deal if they don’t like what they see, turn tail and run. This is a huge sign that something isn’t right with the property. It’s common for a seller to sell a property as is without making any repairs, but it’s not common to ask a buyer to lock into a deal without an inspection.
  5. Are you being met with resistance to see the inside of the property?
    If you’re having trouble nailing down a date and time to see a property or are even being kept from checking out the whole property, it’s a big sign that the seller is hiding something. The golden rule to live by: Never buy an investment property without seeing 100% of what you’re getting into and after receiving an inspection that gives you an idea of what the property will need maintenance-wise.

If you still have questions on investment properties, don’t hesitate to reach out! We’re more than happy to share some of the knowledge, tips, and tricks we’ve picked up over the years to make sure you make and maintain a great investment.

The Domain is Going to New Heights!

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It is said Domain Tower 2 will be 24 stories and have 330,000 square feet of office space. This second tower is a continuation of the plans to make The Domain Austin’s second “downtown” hub. As huge technology companies are seeing a need for larger space in close proximity to amenities they can offer to employees, construction companies are meeting those demands by expanding The Domain.

Overall, The Domain is about 300 acres of land split amongst a variety of offices, retail spaces, and residences. There are more projects coming soon, including a 20-story, 345,000 square-foot Domain Tower 3, and a proposed 22-story Domain Tower 4. The plan to continue development of The Domain includes a 15 phase plan, and Domain Tower 2 is just one step in the overall goal of bringing 3 million square feet of class A office space, 2,500 multifamily units, 50,000-square feet of restaurants, and a hotel to the area.

While no one has yet signed on to take over the office spaces in Domain Tower 2, there’s no doubt there will be a variety of companies interested due to its great location and competitive markets. The demand is strong and only continues to grow in this area. If you’re curious about how the area in North Austin has changed with the expansion of The Domain, give our team a call. We’re happy to give you a glimpse into how the area has changed and how it will continue to do so in the coming years.

How to Know if a Property is a Good Investment

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Deciding to jump into real estate investment is just the beginning of a variety of decisions you’ll have to make. You’ll be surrounded by questions and things to ponder and consider. So, what is it that makes a property worth buying in order to rent out to tenants? What should you be looking for in a great investment property?

  1. Quick turnaround time – By this, we mean that you should be looking for homes that you can buy and have a tenant living there in no time. It can be costly and unwise to invest in a property that will need a ton of renovations before you can rent it out. It’s recommended to look for properties that will generate enough rent in 10 months to cover all costs or follow the “2% rule.” This is the financial rule that states that your monthly rent should be at least 2% of the total purchase price of a property.
  2. Check out the number of days homes are staying on the market as well as what other rentals are offering – If a neighborhood is seeing a decrease in the number of days on the market for homes being sold, this shows that the housing market in that area is heating up and could be especially desirable. On the other hand, if you see rental properties offering discounts and deals, this could be a sign that landlords are having a hard time filling the spots they have open and that the neighborhood isn’t ideal for tenants.
  3. Look into what else is available in the neighborhood – Big businesses spend a lot of money to scout out desirable neighborhoods that will sustain their company. If a Starbucks, Whole Foods, or trendy business is moving in, it’s a great sign that the area is booming and will bring tenants looking for a place to call home. If you’re looking at places in a college town, you need to know that you’re more likely to have a high turnover of tenants – people looking to stay for 1 – 4 years while they finish a degree. If you’re targeting millennials in a city, target your home searches to walkable neighborhoods that are close to public transportation and restaurants/businesses.

If you ever have any questions about real estate and investment properties, don’t hesitate to reach out to our helpful team. We’re here to ensure that your properties and investments are well taken care of.

Loan-to-Value Ratio Explained

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If you’re considering buying a home, there will be a lot of delving into your finances in order to qualify for a mortgage. One of, if not the most, crucial factor to be approved for a mortgage will be your loan-to-value ratio. The loan-to-value ratio is pretty straightforward. It’s simply the amount of money you borrow from your lender, divided by the purchase price of the home in a percentage format.

The loan-to-value ratio is extremely important for lenders as it gives them a better insight into the risk they face loaning money to a prospective homebuyer. The higher your loan-to-value ratio, the higher the risk to the lender, which may play into the mortgage terms and interest rates the lender can offer you. While lenders also look at your credit score, they want to make sure that you have equity in your home and are willing to make a sound investment that you can afford.

Many lenders require that borrowers have a loan-to-value ratio of 80% or lower before they approve a loan, which means that they’re really looking for borrowers to put in 20% for the down payment.

If you’re worried that you could fall under the high loan-to-value client group, there are a few ways to lower your ratio and increase your chances of being approved and getting great terms for your home loan.

One way to lower your loan-to-value ratio is to save up more money in order to have a larger sum to put down for your home. If you can offer up 20% or more of the home’s value, you’ve already lowered the loan-to-value ratio and made yourself less of a risk to the lenders by proving you have a stake in your home. The other way to lower your loan-to-value ratio is to look at more affordable homes. Choose a home that you would need a smaller down payment for, and you’ve immediately taken care of reducing the loan-to-value ratio.

If you ever have questions about your loan-to-value ratio and choosing a property that fits your budget, give our team a call. We’re here to make real estate processes simple and easy to understand for everyone.

Expert Curb Appeal Tips for Your Rental Property

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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

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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!

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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

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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.