Will we see an increase in rents soon?

[Vik J.]

So, this conversation came up with my best mate yesterday evening and I thought I'd get some insights from the investor gurus here.

Given what's going on now (increasing prices and lower inventory), and given the growth of Austin - so many companies moving or expanding - do you foresee a scenario where it's either so expensive to buy a home closer to work place / school district, etc., or there's just not enough choice that people will be forced to (or want to) rent instead....which means rental prices also start to go up? 

How is the rental market in 2020 compared to previous years in terms of rent increase?

[Dan Hunter]

I think it will increase substantially over the next few years.  The last few properties I have rented out have gotten great tenants to move in within days of listing it, so obviously demand is strong.  People and companies keep moving here, so that will continue to drive prices up.  Furthermore, after landlords get their tax bills with increased appraisals, that will surely force landlords to raise their rents to cover costs.