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 and the maintenance cost that go into your rental home(s) are all being affected by the inflation we are experiencing.
With all of that said, we ask that any landlords interested in running a market analysis for their home to ensure they are at market rate to contact their designated property manager with Stone Oak Property Management. They would be happy to assist you!
Performing a Make-Ready on Your Home
Whether you've been a client with Stone Oak for years or you just signed up, one thing is a guarantee - your property will go through a make-ready process at some point.
When a tenant moves out, it's our job to ensure the property is ready for the next tenant to move-in quickly. This process can happen before the deposit disposition is even done for your home, leaving you to front the bill on your make-ready process. Do not fret!
All charges for the make-ready are then itemized and determined to either come out of the security deposit on hand or from the landlord. If the cost of the items is deducted from the security deposit you will be reimbursed for the associated costs of make-ready - even if that just means replenishing your cash reserve you have on-file with Stone Oak.
Your property manager will provide more information on your tenant's turnover at the time it happens, but if you have any questions feel free to contact your property manager directly.
Selling Your Property with Stone Oak
Stone Oak would like to remind you that your property manager is a licensed real estate agent with the State of Texas. We always encourage our Owners to work with an agent if they refer you to Stone Oak. However, if you are thinking of selling your home and don't have an agent to work with please don't hesitate to contact your property manager today!
Tax Protest Changes
We are sending out a separate email with details about the changes, and linked below is the online version of that letter. If you participate in our tax protest portfolio or would like to do so please review this letter.
Thank you for being a client of Stone Oak Property Management and trusting us with your real assets. Please don't hesitate to contact our team if you need anything!
