Stone Oak Client Update | December 2022
Rental Market Update
With the shifting economy due to Fed interest rate hikes and other factors the rental market is changing in Austin, and across the country in both the single family and multi family markets. With some reporting indicating Austin is being hit harder than other markets there are things to take into consideration now with renewal and new lease rent rates. The increases in rent seem to be tempering and should be considered when the time comes because it’s better to have a tenant than to force a turnover by increasing the renewal too much, or by listing a property for lease at a rate that is too high. There are a lot of articles being published about the shift in the rental market, so instead of linking them we will just recommend doing some quick research if you want.
Some factors that are impacting the market are:
Seasonal variation- the late fall and early in the new year are typically a slower time overall in real estate
Increased rental inventory- due to the slow down in the sales market many property owners a...