Stone Oak Client Update | February 2022
Competitively Pricing Your Rental Property
Pricing your rental competitively for the Austin market is important to make sure your property is earning what it is worth. Over the years this task has become more difficult for a number of factors. The first being COVID and its effect on your rental pricing.
During COVID, some landlords have worked with their tenants to ensure a smooth living situation during a rocky time. Many landlords chose not to raise the rent on their tenants for 2020 and even 2021. On the business side of things this has set some back on earning true market rate for their property by 1-2 years.
A second big factor is the growth of our beloved city, Austin. The last couple of years have seen Austin explode with many household companies like Tesla, Samsung & Apple announcing expansion plans in our community. The rise in our housing markets prices have soared past comparable cities in the United States.
Another major factor to consider is the inflation we are experiencing across the board in America. Prices for all things are up, including your costs as a landlord to own your rental property. That an...