Summer 2021’s Hottest Decor Trends for Austin Homes

Summer is here, and it’s time for your home to reflect the temperature change! These decor trends are timeless and regret-proof, as they’ll go with anything already in your home. 

1. Throw Pillows

Throw pillows are the quickest and cheapest way to upgrade your seating area. Enhance a neutral couch or chair with a bright color or bold design. You can layer complementary hues and textured fabrics to add depth. The beauty of pillows is all the fun shapes and colors they come in! 

2. Duvet Covers and Sheets

New bedding will transform a bedroom, plus it’s a fun way to keep you and your bedding clean. Options include a botanical print, graphic designs for a contemporary look, or patterned sheets and sham for a more subtle approach. 

3. Bath Mats and Towels

Another easy and hygienic change is a new towel and mat set. Earth-inspired hues and unique textures like terra-cotta or clay-colored bath towels will give you a spa-like feel in your own bathroom. For maximum comfort, make sure they’re absorbent and soft on the skin! 

4. Bowls and Vases

These small decor items will enhance a room when they’re strategically placed. It’s essential to find the balance between clutter and decor when choosing bowls and vases. That’s why stylish and functional pieces are recommended. Examples could be a painted bowl or plate, an antique mirror, a sculptural vase for flowers, etc.. Sculptural vases and planters are the trends this summer. 

5. Rugs

A new rug will add comfort, protection, and style to any area and flooring type. Area rugs are great for families with children because it helps soften the room, while also offering a chance to add in a new color, pattern, or trend into the room. The summer trend is neutral color palettes with an over-the-top texture like a plush pattern. 

6. Accent Lighting

Lighting can easily be changed, even on light fixtures you own. Options are buying a new light fixture to follow the trend or adding a new shade to your existing fixture. It can be as inexpensive and creative as you’d like. 

If you need help decorating your property for renters this summer, contact us today! As part of our services, we make your property ready; whether that’s decorating or remodeling, we do it all! We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

Austin Rental Scams on the Rise

Scammers are in Austin, and they’re pretty convincing. One woman who spent weeks looking for a place to rent fell prey to a scam. The home for rent was listed on Zillow, and she emailed who she thought was the owner. They sent the deposit, dog deposit, and first month’s rent, which added up to $5,200. But when she went to meet the owner at the property, he never showed or responded. 

The Better Business Bureau says this is a growing trend and happening more frequently, especially in Austin, where many people are moving. Most scams require you to wire funds, so do not wire funds to anyone you haven’t personally met. 

How To Identify A Rental Scam

1. They don’t want to meet you in person.

People are busy, and schedules may not coordinate for a meet-up, and that’s okay. If that’s the case, at least do a video call with the owner/landlord to know the property exists. A good landlord would want to meet you, in person or digitally, as they should know who is renting out their place. 

2. They want you to move in without seeing the property.

Visit and tour the property before signing a lease or sending money to someone. It’s easy for scammers to take old listing photos from past posts and pretend they have the property. Scammers won’t have access to the inside, so if you can’t see the place or tell you to just walk around outside of it, be wary. 

3. They ask for rent or a security deposit before signing a lease.

An apartment can be a scam if the property manager, landlord, or realtor asks for rent or a security deposit before signing a lease. You should never be asked to give a large sum of money before seeing or signing a lease. Application fees are normal and acceptable, but the first month’s rent or security deposit is not. 

4. There’s no screening process.

A good landlord will want to know who’s renting from them and take the proper precautions to screen a tenant. Most landlords will have a screening process to make sure they screen quality tenants. So, if a tenant does not require a rental application and credit check, this is a red flag. This means the landlord doesn’t care about having a good tenant, or they’re inexperienced; both are causes to be suspicious. 

 

If you’re a renter looking for places to rent in Austin or an investor who needs help renting out their property, contact me! Reach out to TALK Property Management– We are here to help: (512) 721-1094 or dbrown@talkpropertymanagement.com.

Part One: Should I Rent Out My Home Instead of Selling?

Selling or renting is the age-old question for property owners, and there is no right or wrong answer. Let’s look at what the market is doing now and then discuss factors to consider to make the best choice for your situation. 

The Market Now

The Central Texas housing market continues to be strong for many reasons, including our high quality of life, relatively low cost of living, and even the coronavirus pandemic. 

COVID-19 has altered the way we search for homes, show homes, and buy and sell homes. It has also kept some local home sellers out of the market–those who don’t “have to” move–likely because they’re waiting for the effects of the pandemic to dwindle. That means that local demand for housing outweighs supply, so homes are selling for a higher price. This process is called a seller’s market. But, the real estate market is dynamic, and this could change at any time.

Additionally, mortgage interest rates remain at historic lows, motivating buyers to make a purchase now.

The local and national economies impact the housing market as well, so you’ll need to assess items that can increase or decrease city growth. People could be relocating for jobs, which can cause job losses and increases. Are businesses moving into the area? Are houses being fixed or abandoned? Each aspect will help you get a better understanding of where the market and economy are going. 

Lastly, rent prices have increased over the years, with an increase in Millennials and Baby Boomers demanding affordable rental housing. But, this is a trend that could change now due to the economy. 

What to Consider

Do you want to be a landlord?

Managing a property is a time consuming and challenging job. Consider if you have a team to help you, like a handyman or real estate agent, or do you need to hire them? Ask yourself if you have the time and effort to screen tenants or if you’re willing to hire a third party to do so. 

It’s essential to factor in where you’ll be living. If you’re out of state, you’ll need a property manager. If you’re staying local, then you need to know what that requires. Not only will you need the time, effort, and cash to be a landlord, you’ll need to be knowledgeable in the local, state, and fair housing laws. 

Read my owner’s resource for “5 Things You Should Know Before Becoming a Landlord”.

 

Are you buying another property while renting the other?

To get a second mortgage, lenders will consider rental income, usually up to 75%, to be counted as income sources. But, with low mortgage interest rates, this might be the time to refinance and pay an even lower mortgage payment. 

 

Will home values increase in your area?

While it’s impossible to predict the market, it’s smart to follow it to see where your home’s value could be in a few years. Suppose you expect the market to work in your favor in a few years and increase the value. In that case, you might want to consider renting it now and selling later to take advantage of the appreciation. Conversely, if you think this is the best the market will do for your house, then sell now. 

To calculate the potential return on your investment property, you’ll need to know your cash flow and equity. To read an example, read my investor resource “How to Calculate the Potential Return on Your Investment Property.” 

A cost market analysis (CMA) will help you answer what your house is worth right now. It will also help you understand the current housing market and the price of other similar properties. Get a full CMS explanation here.   

 

This is part one of a two-part series. In the next blog, I’ll share the specific costs of renting and selling. Check back in December for part 2!