Austin Texas Property Management
Common Tenant Complaints
Common Tenant Complaints and How to Address Them
Overseeing rental properties and managing their occupants can be a stressful time for any property owner or manager. One thing most owners don’t consider is working with the wrong manager or company can leave tenants feeling equally as stressed. Tenants will complain, as they always have. When renting a property, they expect service to the property in exchange for rent -which they should.
Knowing how to properly address tenant complaints with a quick, formal response is vital. A great landlord-tenant relationship will help insure high-quality, paying tenants are more likely to renew their lease every year. If your tenant is satisfied they are likely to stick around and have your rental property earning its potential month-in, month-out.
So what are some common tenant complaints and what is your property management company doing to relieve the situation? Discover the Stone Oak Management difference and how we cater to insure satisfaction for both tenants and property owners.
Common Complaint: Poor Communication
From the moment a tenant shows interest in your property and would like to discuss its availability, you should be completely upfront with them. Discuss everything that’s pertinent in the lease and anything that could play a factor into the day-to-day lives of your tenants. Don’t leave it to them to fully understand a lease and instead let them k...
2017 Austin Property Management
Teaming up with just any Austin property manager in 2017 will lead you to various degrees of success with your rental property. Is your property vacant or occupied? Are you receiving the highest rental rate possible? How’s coordination and communication with your property manager and tenants? Are you satisfied with your Austin property manager’s performance and urgency with your property?
Not all Austin, TX property management companies are the same. Yo
Improvements to Your Home that Bring the Greatest ROI
How to improve your Austin rental home for better tenants and ROI in the event of a sale!
Rental Property Management: When is it Time to Hire a Property Management Company?
Should you hire an Austin property manager?
Rental property management is something some owners elect to do themselves as they might have the time to deal with the various day-to-day requirements that come with managing properties. If you find yourself doing so you probably understand that things can get hectic and your schedule can be loaded in a hurry. Your rental homes aren’t static objects. When occupied by tenants they become these living things that require constant care and attention.
What will a property management company provide me?
Let’s first cover what you should expect from hiring a property management company like Stone Oak Property Management. As your professional landlord, Stone Oak’s goal is to leave you stress free while providing quality management of your investments. From the start, Stone Oak provides all of the marketing and prospecting for tenants in the event your property is vacant. Our Austin property management team provides quality screen and vetting of tenants for your property, ensuring you with quality, rent paying tenants backed by a guarantee!
Once tenants are placed and the house is occupied, Stone Oak Property Management has all bases covered. We deal with everything from A to Z. From collecting rent to handling emergency and maintenance requests, Stone Oak provides a suite of property management...
Austin Rental Market Update
Austin’s rental market is one of the hottest in the country!
With the recent report naming Austin the #1 place to live in the country it doesn’t seem to be on track to slow down either! Year after year, rental properties in Austin has proven to be a solid financial investment. As of February of this year, the average rent for an apartment within the city of Austin totaled at $1,419 with one bedrooms pulling in an average of $1,245 and two bedroom apartments averaging $1,562. However, over the last 6 months to date the average apartment rent in Austin has decreased by 2.1%. The graph shown below gives you an idea of the steady increase of rent from January 2011 to February 2017.
So what locations in Austin pull the in the highest average rent? By neighborhood, the top five locations with the highest paid rent are Downtown, South River City, Bouldin, East Ceaser Chavez and Triangle State. These were followed closely by areas such as Zilker, Barton Hills, Hyde Park and others. Aiming for cheap rents? The three cheapest neighborhoods to live in are Coronado Hills, Georgian Acres and Franklin Park. You can view the full
4 Reasons You Need a Property Manager
4 Reasons You Need a Professional Property Manager
Struggling with self-management and thinking about hiring a property manager? Put your real estate investments on auto pilot and let a professional property manager do the work! Here are a few reasons why you should be using a property manager.
Qualifying Your Tenants
As a self-managing landlord, you may be without or lack the resources to thoroughly screen prospective tenants. Are their references for previous landlords real? Do they make the minimum requirement of 3x their monthly rent? These and much more are all questions that are valid determiners of whether or not a tenant is suited to live in your property. When you self-manage these are all things you must validate before you can accept a tenant to your property and gathering all of this information can be a hassle and very time consuming. Trust a professional property manager to do all of this work for you and find only quality tenants for your property!
Collections
Most if not all smart landlords have a policy about grace periods for paying rent after the initial due date. This is good as sometimes life can take unexpected turns for tenants and coming up with rent can be a struggle. As a self-managing landlord, since you are hands on with your tenants, things can get personal quick if you have a tenant who isn’t paying but you have a good relationship with. With a professional property m...
Should You Use a Professional Property Manager?
Is using a professional property management company the right choice for you and your rental property?
Allowing Pets Can Increase Your Rental Rate
Austin landlords and investment property owners may be overlooking a way to increase their profitability and bottom line by not allowing pets in their rental properties.
According to FIREPAW, a non-profit organization whom handles animal welfare services, property managers who allow animals in their rental properties are seeing an increase in their bottom line profits. Their nationwide study found that the #1 reason pet owners gave up their pets were housing issues. Even though pet owners are willing to pay more in rent to keep their animals, there is still a shortage of landlords willing to accept pets.
You’d be hard pressed to find a city more pet-friendly then Austin and as a property management company we advise all of our landlords to consider pets when they present no risk to their properties or tenants. In terms of profitability, a separate deposit for pets can bring a landlord an extra chunk of change with each lease. The study conducted by FIREPAW also revealed that, on average, landlords and owners that allows pets will rent for a 20-30% higher rate than properties that don't allow pets. Other benefits for landlords that allow pets include:
- Longer Tenancy – Tenants who have pets prefer to stay in one place for a longer amount of time.
- Lower vacancy rates
- More applications received per unit – Pet friendly living...
Finding Rental Properties to Invest In
Austin Property Management and How to Find Profitable Properties
The Austin rental market is booming right now! The demand for rentals is at an all-time high, the rents in the greater Austin area are way up, and the time to invest is now after Austin was named #1 place to live! If you can find an Austin rental property to invest in, you could be the owner of an investment that should have consistent income for years to come. However, choosing the right investment property can be tricky and if chosen poorly you could potentially lose money instead of earning!
The first course of action is to consider the type of property you would prefer to invest in. Single-family homes, condos and multi-family properties are all worthwhile investments. Before you start working with a broker, first decide what kind of property you’re willing to take on and what you can afford.
Consider who your ideal tenants are. Targeting areas of higher income such can lead to great, high-quality tenants though your initial investment will be greater. Also, consider whether you would be taking care of your rental property yourself or if you would need the services of an Austin property management company for your rental. Consider why you are investing in real estate and what you hope this investment will do for you. There are many books and o...
