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Should I Lease or Sell My Property?

Most homeowners will have to answer this question at one time or another. You might relocate for a job, or decide to combine households with your significant other, or it might be time for additional square footage to accommodate your growing family. Whether to sell or lease your home is an important decision. While this question can be fraught with emotional baggage and sentimentality, for the best interest of your family your answer should come down to the math. Seek guidance not just from someone trying to sell your property but also from someone who can guide you on leasing. Some companies can run numbers on both scenarios and offer both services. Plug in your numbers and consider the outcomes. Some companies even have the data to forecast future financial potential for your property.

In your calculations, you should assess your financial situation, your future housing plans or goals, your state and federal tax ramifications, and the current and projected home values in your neighborhood/local market. Next, learn how leasing can be a beneficial way to grow your wealth and evaluate your local rental market. You already own the asset so there is no additional cash outlay to obtain something that may already be positioned to produce a return on your initial investment.

To Hold? Or, Fold?

Real estate is like a game of poker, only with market data and forecasts. As Kenny Rogers croons in his classic song, “you gotta know when to hold ‘em, Know when to fold ‘em.” The answer to whether you should hold (lease) or fold (sell) ideally, is a resounding ‘hold ‘em!’ Why? Keeping your home and turning it into a rental property enables you to continue to build equity on your purchase while you are paying down your mortgage. On top of this, keeping and maintaining your home as an asset helps you build substantial wealth in your financial portfolio.

Of course, there are scenarios when folding might be appropriate. If you are experiencing a divorce, death of a spouse, or have crushing medical debt, selling your real estate asset can help you wade through the storm financially, and emotionally.

The last thing you want to do is to take your cash-producing, equity-building asset, then sell it, and pour the money into a new, larger home, or a non-cash-producing asset. It might be tempting to take your proceeds from the sale and buy a long-yearned-for boat, but you’ll induce cringes amongst your real-estate friends. The goal is to make your money work for you, not to continue to purchase things which may you work for them.

Consider Your Local Rental Market

You’ve done the math. Now take a look at some Austin rental market forces that can help make or break your rental business venture. While our rental market is slowing, tenant incomes are healthy, and the job market continues to roll along. You’ll want to do some in-depth research and consult the experts, but here are a few bright notes to consider.

In 2016, an average of 159 people moved to Austin each day. (BizJournals)

According to a 2017 affordability survey of major American cities, Austin ranked #5 in offering incomes large enough to support day-to-day living. (GoBankingRates)

In areas surrounding Austin, such as the northwest and northeast Austin, occupancy rates are much higher at 94% (Statesman)

Austin boasts a robust pool of potential renters, with money to spend, in a metropolis that continues to expand outward. Chances are, Austin will support a strong rental market for years to come.

The Payoff Takes Patience

Real estate investing is a long-term game. Very often the people who didn’t want to get into the game find that in year three or four, they recognize the money they’re making, and reap the benefits from that additional income. Those formerly reluctant landlords then start looking for their next rental property to buy. Be patient for your payoff! We’ve seen even the most reluctant landlords get excited when they see the results.

Concerned about the time it will take to manage your rental property? Based in Austin, 1836 Property Management specializes in managing real estate investments for clients around the world. We take the hassles and the worry of being a landlord off your shoulders. If you decide to lease your property, the 1836 team can help you profit without the headaches.

Watch a video excerpt on this topic, and others on our YouTube channel.

 

What are people saying about 1836 Property Management?

There are good days and bad ones but we are on a roll!

We had a tenant move in this week and they were so happy they brought us Tiff’s Treats! Thank you! Thank you! Thank you! Now to go run off those five new pounds.

I’m not sure what other property managers do but we survey our tenants once maintenance is complete to find out how we and our vendors performed. Here’s one result from this week. Spot on service!

If you’re looking for the best Property Management Services in Austin you’ve found the place. I dare you to compare quality of service. Ask another manager if they survey their tenants. Ask if they include professional photography, custom floor plans or optimized walk through videos for every listing. Soon we’re going to have drone footage for our All Included Clients. Now that’s service!

Call us today for the best Property Management Services in Austin! 512-994-4323.

Here’s how our tenants feel about our service. How do your tenants feel?

 

Page 1: Punctuality of Service.
Q1

Did the tech show up on time/as promised?

  • (no label)They were on time as promised.
Q2

What was the name of the company and the specific tech?

Appliance Connection, I think his name was Lane?

Page 2: Quality of Service.
Q3

Did the tech complete the work to the job specifications or have they agreed to obtain parts and finish the job if required?

  • The job was completed wonderfully and/or I trust they will return as soon as they can. I’ll be referring them business.
Q4

If a follow up appointment was needed were you able to get this scheduled?

  • Yes
Page 3: What else can we do to support you and/or do the job better next time?
Q5

Should we need to follow up on your service call, we’ll need to know your address. Please fill that in here.

(redacted) St Austin TX 78702

Q6

What else can we do to support you and/or do the job better next time?

totally great service, really appreciate it

What in the world is going on in Austin with the Real Estate Market?

Find out here!

 

If you’re interested in Austin Texas Real Estate here is your monthly update. Find out what prices are doing and why. Where to invest and where to avoid. Call us today for the latest information. 512-994-4323.

http://1836realty-austin.housingtrendsenewsletter.com/

Austin Texas Rental Market and Real Estate Investment Update June 19, 2017

Considering purchase rental properties in Austin, TX? Join our youtube channel for weekly updates on the rental and real estate market in Austin. For the best property management services in Austin call us today. 512-994-4323.

 

How is your Austin property manager treating your tenants?

While quality of care for our owners is important, quality of service to our tenants is also a very big deal. If property managers don’t provide great customer service to the tenants, they won’t renew their leases. Poor customer service by landlords and/or property managers is the number 1 reason tenants do not renew their leases.

What’s an Austin investor to do? Just like anything else in life, hire for quality, not to save $10. That $10 will cost you $1000 or more when tenants fail to renew, your property isn’t properly maintained and you’ve got to cover the mortgage while seeking a new tenant. We say this all the time but snappy advertising by some big names can steer folks the wrong way. The good news for us is all that those national companies can’t keep people happy if the service isn’t there. While a national company has come into our market and gained some traction, their clients are now leaving and entering the market looking for quality. 1836 is here to help!

So how do you know if you’re tenants are being treated well if you’re in another state? Ask your property manager what they do to ensure client satisfaction and retain tenants. Here’s a survey response from yesterday from one of our tenant related to a service call for maintenance.

 

PAGE 1: Punctuality of Service.
Q1: Did the tech show up on time/as promised?
  • (no label)There were early and waiting for us!
Q2: What was the name of the company and the specific tech?

Appliance Connection – Jeffrey – This vendor was terrific start to finish. Jeff called early and showed WAY early for each visit. Very pleased with their service.

PAGE 2: Quality of Service.
Q3: Did the tech complete the work to the job specifications or have they agreed to obtain parts and finish the job if required?
  • The job was completed wonderfully and/or I trust they will return as soon as they can. I’ll be referring them business.
Q4: If a follow up appointment was needed were you able to get this scheduled?
  • Yes
PAGE 3: What else can we do to support you and/or do the job better next time?
Q5: Should we need to follow up on your service call, we’ll need to know your address. Please fill that in here.

XXXXXXXXXXXXXXXXX

Q6: What else can we do to support you and/or do the job better next time?

My experience with both super Tenders, and the vendor were great. I feel like this was handled as quickly as I could reasonably expect. Great work.

What’s going on with the Austin Texas Real Estate market?

Get the latest local and national news here, monthly.

http://1836realty-austin.housingtrendsenewsletter.com/

Austin Rental Market Update 5.22.17

If you’re a real estate investor looking for advice or properties in the Austin market this weekly update is for you. Call us today for the best property management services in Austin. 512-994-4323

Weekly Property Management and Real Estate Investing Update for Austin, Tx Week of 5/15/2017

Are you interested in Austin, Texas real estate or investing? If you want a weekly update our channel is for you. Please subscribe to our youtube channel for weekly updates about Austin Real Estate Investing or call us today for the best property management services in Austin. 512-994-4323.

 

What makes 1836 different from other property manager? Why should I select 1836 Property Management?

Often we get asked by clients “Why should I select your company”? If you’re asking this question. This video is for you. Call us today for the best property management services in Austin, Texas. 512-994-4323.

 

What makes a property management company great? What should you look for in a property manager?

Are you a landlord looking to hire a property manager? Are you trying to determine the best property manager for your rental? This video is for you. For the best property management services in Austin call us today. 512-994-4323.

 

 

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