Austin Rental demand

[Srividhya Gururajan]

Hello all, I'm  looking at buying an investment property in Austin suburbs. I recently visited the area and I got the notion that there may be too many rental offerings and not a proportionate  demand. I could also see from zillow and other websites that homes have been sitting close to couple of months waiting to be rented (areas like leander , georgetown, pflugerville). I can manage with few hundred dollars of  negative cash flow monthly but can't afford the property to be idling for several months. Would appreciate some info on what to expect

[Ryan Kelly]

@Srividhya Gururajan rental demand is very strong in the Austin metro including the suburbs. However, buyer demand is also very high and our entire metro has less than 1 month of inventory so you will likely compete over some of the properties you are interested in purchasing. There are three main reasons some properties are having a hard time renting at this time. #1) the winter season is the slowest time of year to lease and not as much rental demand. #2) many properties are simply listed too high for rent and need to lower their price. #3) many of the owners haven't done any decent upgrades to attract modern tenants. Most of my properties have leased out in just a few days. If you plan to be leasing in the spring and summer months, expect demand to be much higher.