Property Management Terms Defined
You may have worked with your property manager or with a real estate agent and come across a term or phrase you didn’t quite know the meaning of. Our team got together to put together a big list of terms and phrases you’ll hear regularly when working in the local real estate market.
Property management terms defined for Landlords in Austin, Texas.
Update on Eviction Bans
You may be seeing in the news how the CDC eviction ban is set to expire at the end of this month. Keep in mind that Austin & Travis County have set forth guidelines for our area that extend this eviction ban until August 1st.
Thankfully, Stone Oak and our properties fared very well during this unprecedented time and a very small fraction of our landlords were ever affected by COVID-related issues. Regardless, a helpful resource for owners who have experienced hardships due to unpaid rent during this time can apply for assistance via the Texas Rent Relief Program.
Landlords can apply for up to 3 months of unpaid tenant bills. More information and an application for the program can be found at https://texasrentrelief.com/updates/.
Looking to Acquire More Real Estate Investments?
As most people know, the real estate market has been crazy since the pandemic started in 2020. I like to believe it was the perfect storm of interest rates, stimulus money, etc. With the influx of money into real estate, especially here in Austin, Texas, it’s causing a shortage of inventory and finding a home, let alone an investment property can be tough.
That’s not to say great deals aren’t out there waiting for you. While buying a property Downtown or near UT may be tough for the foreseeable future, there are still areas of Greater Austin that are great for landlords or investors to pick up another rental property!
Check out our 6 best areas of Austin, Texas to purchase a rental property in 2021!
