The leasing market can be difficult to manage for both the owners and leasers. Graphs such as the one above help to put the Austin market into perspective and hopefully help people to understand conditions in the Austin Real Estate Leasing Market. The data above illustrates the link between the number or new listings that go up and the number of listings that expire before they can be leased.
Here are a few things that this graph can show us:
- The amount of listings have consistently gone up over the last 2 years due to both an increase in the population of Austin and the influx in investors entering the Austin market.
- This means that the more investors that come to Austin, the more money your property can charge for monthly rent.
- In 8 of the 24 months (actually 8 of 18), more properties expired than were listed in that month.
- Begs the question, how strong is the leasing market and how do I make sure that my property stays leased?
- When you look at these listings closely, the ones that expire are typically due to owners setting unrealistic prices for their properties and being inflexible with the market conditions.
- Many properties are listed late in the summer(when the market is cooling off), which is directly related to the huge spike in expired listings in December.
- Fall is the worst time to try and lease your property showing September, October, and November to have increased expirations with the spiking in December.
- If these properties had been listed before fall they would have had a much higher chance of being leased out by fall.
Realty Pros of Austin and Austin Manage are both experts in their respective fields and can clearly communicate to our owners and leasees the following:
- Using our realtors to fill our properties with qualified tenants in a timely manner.
- Providing our properties with the most exposure through Realty Pros of Austin, allowing them to be leased faster and more efficiently.
- Providing an efficient tenant and owner portal, which allows us to complete maintenance requests in a timely manner, collect rent and much much more!
- Realty Pros of Austin keeps it eye on the market and provides owners sensible solutions to all of their problems and concerns.